It might sound funny, but it’s true… wholesale lobster — that venerable stuff of fine-dining menus everywhere — is going for a price that makes hot dogs a more expensive choice for a backyard BBQ this Summer. At the time of this writing, all-beef hot dogs are about a buck more per pound than fresh, live lobster that’s been snared off the coast of Maine!

Now, I have a pretty extensive background in the Food and Beverage business (with an emphasis on Fine Dining) and I can certainly tell you that the smart cookies are the ones who jump all over deals like these. Supply goes up… demand goes down… and prices pull a U-turn as the market reflects the overstock of goods. Not much different from the wholesale business overall, eh? Sometimes there are deals to pick up on, and if you act fast enough, you will walk away with a truckload of stuff for cheap.

All this talk of lobsters can produce some pretty comical imagery… and here’s some more: lobstermen (you know, the guys who snare lob-stuhs for a living) are trying their best to earn a few dollars, and have begun making the daily trip out to coastal towns themselves, in the hopes of selling their catch off on their own, rather than pay the extra costs of getting a broker involved. Who can blame ‘em? With the market prices dipping so low, they are losing money just by doing their job… since overhead costs are pretty high, and a typically higher margin makes up for it most of the time.

I like the spirit of the lobstermen. It reminds me of the enterprising types out there who find a good deal, and then act upon it. Wholesale is becoming more and more like this every day, especially with the economy being in the constant state of flux that it’s in. My only concern is that there tends to be a lowering of standards whenever the producer puts on the distributor-hat, and customers lose sight of this as they try to take advantage of a great price, in a no-holds-barred feeding frenzy.

“Lobster dealers and retailers have responded with a letter to state officials saying the lobstermen are actually making matters worse for themselves and will drive down lobster prices even more.” (WWLP News)

So… the price of lobster plummets, and the quality of lobster drops to unfathomable new lows, and everyone starts seeing grilled hot dogs at A-list venues? No… it’s a vicious cycle, but it’s one that can be avoided. Sellers and retailers, wholesalers and distributors… they are critical to keeping things going, without giving way to the temptations of pushing bad product. While the lobstermen might be the best at catching and harvesting lobsters, they probably aren’t the best at selling them. Frankly, the same is true for any area of industry. Salespeople and brokers are necessary, because we are the ones who are looking out for everyone, including ourselves.

Inspiration and fresh ideas can be found in some of the strangest places, and while the story of the lobstermen of Maine might give you a chuckle, it should also prompt you to do a quick search on the Internet for some trends in the market of your choice, for those hot deals and can’t-miss opportunities. Check out our own toptenwholesale.com to get some leads, and try to open your mind to the possibilities of markets you might not have paid much attention to before. This is 2009, and innovation will determine the success stories of the next decade.

Are you getting hungry yet? I am. All this talk of lobsters and hot dogs makes me want to get some lunch.