Save Money! – How to buy better and cut costs for your Hospitality Business

Buying Better – 11 Phrases to Cut Costs & Get a Better Deal

The Survival of your venue relies on your ability to cut costs and control your core expenses – Rent, Wages, COGS, and other Expenses.  You may also need to manage your cash flow by accessing money from the Tax Man, Bank, Deposits, Landlord (rent) or franchisor (royalty relief).

Many years ago, my mum went on a negotiation techniques training course and acquired just one new habit – asking for a discount every time in every place! Since then she has cut costs and saved thousands of dollars by just asking the simple question; “Is that your best price?” and waiting in uncomfortable silence. 

In these tough times every dollar is important and every dollar you SAVE is one dollar of extra profit. Dealmaking is the highest-paying activity you can do. You CAN learn to cut costs and save thousands of dollars in minutes with better negotiation techniques.

Asking for a BETTER DEAL – 11 Ways to Cut Costs

Practice these 11 ways to ASK for a better deal when making a purchase.

Practice asking for a better deal – type up and practice using the following phrases – put them on the wall in front of anyone buying anything:

1. “Tell me your BEST price”
2. “Is that really your BEST price?”
3. “You’ll have to do better than that!” + (use uncomfortable SILENCE)
4. “What would I have to do to get a better price?”
5. “That sounds a little high”
6. “If you include X & Y you have a deal”
7. “Can I have better terms?” or “I want better terms!”(settlement discount, credit days)
8. “Would that be less expensive if…?”
9. “Could I get a lower price if….?”
10. “What specials are available?”
11. “What’s the “off-peak” price?”

 

Negotiating a better price – finding discount deals and cut costs!

• You’ll find that EVERYTHING IS NEGOTIABLE – not just price.
• Make sure you ask about getting other things included such as:
  • better terms
  • conditions
  • more/less time
  • bonus inclusions
  • exclusivity
  • service
  • training provided
  • marketing help and subsidy (co-promotion)
  • sales target rebates
  • other assistance that’s available

Save stacks more money by BUYING BETTER – learn how to cut costs, get deals, discounts and bonuses!

Recommended Reading –  BEST BLOGS FOR VENUES & HOSPITALITY

Related training

• Cutting Costs & Buying Better — negotiating better deals and getting your costs under control
• Function and Event Sales Training — all of Big Hat’s function and event sales training in one place