Why settle on one quote when you can get a better bargain with a few best price quotes at hand?
When it comes to buying new supplies, investing in capital items or getting major renovation done on properties or machinery upgrade, it’s always prudent to collect as many quotes as you can. Always look at the first quote as a benchmark and get at least two other quotations from other vendors or suppliers. Once you have a minimum of 3 quotes, ensure that all three are quotes are provided based on the same brief. At the same time, it’s also good practice to let each supplier know that you are obtaining additional quotes so that they provide better quotations for your business as well.
How to get the best price quotes
- Always downplay the actual amount you are willing to spend or is in your budget. Most sales teams will attempt to sell you products that are slightly more expensive than your limit, so this will put you in a stronger position to negotiate.
- Never show that you’re keen to close the deal, even when you’re keen.
- Besides getting a few quotes, you might also want to survey the relevant markets to find out if material prices or currency rates are changing.
- Always ensure the brief and offer are all in writing for future reference and to avoid disputes later on.
- Cash is king, so negotiate for a better price if you’re paying a lump sum for the purchase.
- If you’re buying in bulk, you should also mention it for a better price.
- Do not decide on one quotation, but always act quickly in terms of answering e-mails or phone calls. This lets your supplier know that you are a serious buyer.
- Always check for hidden costs like taxes, commissions or add-on products.
- Keep your eye on the prize and don’t be overly influenced by other items that may be thrown in with the deal.
- At the same time, see if you can get extra services thrown in for free, such as delivery and setup fees.
Instead of buying, you might also consider leasing some equipment. In which case, please view this article by Entrepreneur.com on leasing tech hardware for your business.