Negotiating with suppliers might not be the most glamorous part of running a business, but it’s absolutely crucial. Whether you’re in the retail, manufacturing, or service industry, getting better deals with suppliers can mean the difference between healthy margins and scraping by.

So today, we’re going to cut the crap and dive into 12 practical, no-nonsense tips for negotiating better deals with your suppliers.

1. Do Your Homework

Knowledge is power, folks. Before you even think about sitting down at the negotiation table, do your research. Know the market rates, understand your supplier’s competition, and get a grip on what’s reasonable to ask for. The more informed you are, the stronger your negotiating position.

2. Build Relationships

Negotiations aren’t just about numbers; they’re about people. Build a rapport with your suppliers. Get to know them, understand their business, and show some genuine interest. A solid relationship can lead to more favorable terms because people ...