Are you getting the best value for your school budget? From experience, we have also noticed that schools don’t negotiate with suppliers on price or value received. This article will reveal that it is possible to negotiate and will provide 3 top tips on how to do so.
The key to extending your school’s budget can be as simple as negotiating with suppliers.
Having worked with many school suppliers, Peter Morgan, CEO of SchoolAdvisor, shares some tips and tricks that you can use as a school to negotiate with them. He’ll reveal how you can easily lower the quoted amount or get more value from a supplier.
Yes. You can negotiate with school suppliers
The most important thing to know is that you can always negotiate with the supplier. If you don’t ask the question, you’ll never know. Often you can save or extend your school’s budget by simply asking for a better quote.
Even if you’ve already decided on a specific supplier, you can always ask the question. Something like, “We really want to go with your quote, but it is a bit pricey for us. Would you be able to give us a discount or add some extra value to the deal?”
Now that you know you can negotiate with suppliers, here are three top tips when negotiating.
3 top tips when negotiating with school suppliers
1. Always get multiple quotes
The first and probably most important tip I can give is to always get 3 quotes. By having multiple quotes, it becomes much easier to negotiate with suppliers. Simply tell the supplier that you have also been quoted by two other suppliers.
If the other two quotes are more reasonable, tell them. This will give you bargaining power. Now that you have some bargaining power, you can ask them for a reduced quote or ask them to add some value to the deal.
2. Negotiate with your current suppliers if they increase the price over time
You can also negotiate with a supplier you already use. A common thing suppliers do is increase the price of their product/service over time. They will do it subtly and ever so slightly, so, you have to be vigilant. It is up to you to ensure that this doesn’t happen.
The trick here is to keep your suppliers on their toes. The best way of doing this is by getting quotes from other suppliers for the same product or service. You can now compare these quotes with how much you are currently paying and can begin negotiations with your current supplier.
3. The best time to negotiate is month-end
The third and final tip is to use month-end as a strategic time to ask suppliers for quotes. Salespeople often have monthly targets to meet and, by asking for a quote near the end of the month, you are more likely to get a discount.
For example, you could say to the salesperson: “If you offer a discounted rate, we will sign off on the quote before month-end.” This creates urgency for the salesperson to meet their sales target for the month and is a very smart way of reducing the final quoted amount.
Get 3 quotes from the country’s top school suppliers for free
We hope this article will get you to negotiate before accepting your next quote. You can always get a better deal by simply using these 3 expert tips provided by Peter Morgan.
SchoolAdvisor supplies schools with 3 quotes from any top-rated school supplier countrywide for free. Simply click this link to go to our quote request page and we’ll source 3 quotes from the country’s best suppliers for you!