Tips on Negotiating Better Deals with your Steel Supplier
Steel is an integral factor when you are a part of any construction project. But that does not mean that you would pay any price without considering and getting a quote from the steel supplier. Steel price (ราคา เหล็ก, which is the term in Thai) might differ depending on availability and also the quality of steel you would be ordering.
One of the best ways by which you would be able to decrease your price and maintain a budget would be by negotiating. And for these, you need some great negotiating skills. And here are some great skills that you could master.
Sell Yourself as Some Providing them with Good Business:
A supplier’s prime aim would be to see as much product as they can to any customer. And therefore, you need to put yourself as one such customer. Suppliers appreciate customers who would help them in reaching their goals.
When talking to a supplier makes sure you know that they would be gaining repeated business from you in the long run. Provide them with a sales projections plan which would help you in providing them with business logic and research.
Think Outside Price Box:
If you see that the supplier would not budge on the steel price, then you could negotiate on other factors to lower your expenses. You could negotiate to lower the down payment or cut on the delivery and transportation charges. Also, if you are guaranteed long term warranty, you would improve on your cash flow as well.
Talk to Different Suppliers:
When trying to find good quality steel, one thing you should do would establish contact with multiple suppliers. This would help you gain information on the difference in price that you could later help you compare and get the best deal. Talk to the supplier who would be providing you with the most competitive bid. Never forget that price and quality should be a major consideration and all cheap things are neither always good nor bad.
Larger Deposit for Bigger Discount:
One thing you should always know when it comes to considering what you could do regarding negotiation would be to get bigger discounts by providing them with a larger deposit. When the supplier would know that you would be providing them with 50 to 60% beforehand, your negotiation power would increase.
Do not always accept the first offer that you would be getting. And these are some of the pro tips to help you negotiate better.