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Don't pay out more than you need to with your salon supplies

21st February 2013 Print

As a salon, one of the greatest expenditures in your books will be for supplies. This is why it’s imperative that you bargain your socks off with potential distributors. Once you’re locked in a contract, it’s hard to scrabble your way out again, so make sure that the agreement is on your terms.

It’s as simple as this: the less you have to pay for supplies, the greater your profits are. Obviously, you won’t want to jeopardise your relationship with potential suppliers by driving too hard a bargain, but it’s in your best interests to get the best price possible. Striking this balance can be tricky, so you need a good feel for what’s reasonable to ask for from your distributors. The last thing you want is to ask for too low a price and become a laughing stock in the boardroom. 

Decline your first offer

Never go with the first offer; you should force your suppliers to make small sacrifices in your favour to show that you mean business. If you accept their terms too easily, you’ll become a pushover client and lose out on some wonderful deals. Make them treat you like a valued client that can take their business elsewhere, if they don’t get the best of everything.

If the proposals they make really are unsatisfactory, don’t be afraid to walk away from the deal altogether. Before you enter negotiations, have a Plan B and a Plan C. If you’re worried about losing a supplier, you’ll end up with a rubbish agreement.

Ask for extra discounts

Ask if you can get discounts for being a new or loyal customer. Your supplier may flatly say ‘no,’ but it’s just as likely that you’ll garner a small discount on your wholesale purchases. Ask the company what their best price is and see what they say.

Show that you’ll be a good client

Suppliers love clients that pay on time, are friendly, and have fantastic growth prospects. Demonstrate that you tick all the boxes and they’ll look more favourably on you. Make yourself a client that they can’t afford to lose, and they’ll run around in circles to make you happy.

Prepare in advance

Always do your research before you enter into negotiations. What’s the going price for wholesale salon products? Which products sell the best? Know your supplier’s competitors and get quotes off them. If they try to offer you a poor deal, you can use their enemies against them to try to secure a better agreement. It’ll also show the company that they should take you seriously.

Money isn’t everything

Although cheap prices on products appear to be a sweet deal, consider what other benefits your potential supplier has to offer. Do they offer you more flexible delivery times? Flexible payment times? Lower delivery charges? Money isn’t the be-all-and-end-all. Consider the low-level benefits you’d enjoy before writing a company off, based on price.

This post was contributed to our blog by Zoe, a business journalist who enjoys sharing her business know-how to help others keep their finances in check. Any stylists reading today can check out salon suppliers online for all the best deals.