Negotiating Vendor Contracts

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When business owners make their way to the negotiating table, preparation is the key to success. That preparation comes in a variety of forms, including identifying their top priorities, understanding the suppliers’ limitations and researching current retail prices. The best negotiators also know that working closely with their vendors can get them the best deals.

“There’s no one that gets the best deal every single time, but the more you collaborate with your vendor and the more you share information and your goals, the more powerful you make your vendor in the way that he or she can assist you,” said Darren Schulte, vice president of membership for NATSO. “If they understand what your goals are and what you need, they can help you develop particular programs and promotions to get where you need to go.”

Operators said that collaboration not only benefits them, but can help the vendors and the overall relationship as well...

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Mindy Long's photo

Before launching a full-time freelance career, Long edited NATSO's Stop Watch magazine. Prior to that Long worked as a staff reporter for Transport Topics, a weekly trade newspaper, covering freight transportation, fuel and environmental issues. In addition to covering the transportation sector, Long has written, reported and edited for a variety of media outlets. She was the Washington correspondent for WCAX-TV (CBS) in Burlington, Vt., a criminal court reporter in Chicago and a freelance copy editor for Kiplinger’s Personal Finance magazine in Washington D.C. Long hold a master’s degree from Northwestern University’s Medill School of Journalism in Evanston, Ill., and a bachelor’s degree in Communications from Westminster College in Salt Lake City.More
Source:
Stop Watch Magazine
Retailer Featured:
Goetz CompaniesTA Wapakoneta

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