Been working with the same suppliers for about two years now and honestly feel like I’m getting comfortable paying whatever they quote me.
Starting to realize this might be eating into my margins more than it should. Wonder if other solo folks have found ways to get better deals without burning bridges.
Started annual reviews with suppliers around year three. Pick a slow month and have a coffee or phone call.
Tell them you want to keep working together but need to make sure numbers make sense. Ask about their pricing and any ways to save money you might not know.
One supplier gave me 8% off for ordering the same amount every month instead of randomly. Another had a cash discount I didn’t know about.
Check if they have dead stock or overruns to move. I got materials at 30% off this way twice last year.
Get quotes from two or three other suppliers. Then go back to your current suppliers with those numbers. Don’t threaten to leave. Just mention the competitive quotes and ask if they can match or beat them.
Also consider your payment timing. Some suppliers may offer discounts if you pay within ten days instead of thirty.
Track your order history first. Pull together what you’ve spent with each supplier over the past year. Numbers help when you’re asking for discounts.
Then pick your biggest spend suppliers and schedule calls. I do this:
Also worth checking if you’re buying the right way. Sometimes switching from weekly small orders to monthly bigger ones cuts costs. Or maybe they have generic versions of what you’re buying.
One thing that worked for me was asking about their slow seasons. Some suppliers will cut deals during their quiet months if you can time your orders right.
Two years is long enough to have leverage. Tell them you’re shopping around for better rates and ask what they can do to keep your business. Most suppliers have room to move on price, especially if you pay on time and order regularly. Also try bundling orders to hit volume discounts or ask about payment terms that work better for your cash flow. The worst they can say is no.
Try buying in bulk or asking for better payment terms. Some suppliers are flexible if you ask.
I just ask if they got better prices sometimes.