June 30th marks the start of the Fancy Food Show at the Javits Center in New York and Pretzel Pete will be exhibiting for the umpteenth straight year (I lost count). In addition to the excitement and satisfaction of seeing so many of our good trade customers and contacts, the Fancy Food Show will mark the launch of a whole new venture for our company.
One of the most nerve-wracking events for a small company like ours is the launch of a new item. New product launches are always fraught with anxiety due to the high initial costs developing a new product. In addition to the considerable time and energy devoted to R&D, there is a surprising amount of time and money spent on the packaging design. Once the R&D is completed and the new packaging approved, then comes the big “uh-of” of having to lay out big bucks on printing plates, the initial inventory of packaging and raw materials. All in all, the initial costs for a new product launch easily runs into tens of thousands of dollars. Of course, once all of the work has been completed and the product debuts, we must wait anxiously to see the reaction from our customers. Is it a “Hit” or a “Miss?”
This process is especially poignant for Pretzel Pete as we have plans for considerable growth in our product line in the coming 1-2 years. We are labeling our new initiative as “Small Batch” as we endeavor to introduce a full-line of interesting flavors that will appeal to an ever-wider range of consumers. In fact, at the Fancy Food Show we will be launching not one but two (!) new items.
We will be unveiling these new items in the coming weeks as we draw closer to the show. So, watch this space as well as the Pretzel Pete presence on social media and we hope you will try these new additions to our product line.