Hey everyone,
So I'm ordering a deal toy for my first (!) pitched-to-closed m&a deal and was wondering if you had any tips for negotiating on price.
In the current down economy i'd imagine these companies would be scrambling to make money, so I'd reason that they'd be somewhat desperate for my business.
How much of a haircut do you think they'd be willing to accept? my order was quoted at $1,500 incl fixed/var costs... do you think I could start with a 20% cut to $1,200 or even lower?
Thanks for the advice...
Go for 20%, its not like the reduction of expenses will benefit you in any way...the last deal block I got was an engraved wine bottle which was pretty cool...better than all the lucite squares and prizms on my desk
Could you tell me what vendor you used? That sounds unique and I wanted to see what else they might offer.
Thanks.
What company are you using?
Corporate Presence (they've hosted some nice lunches here at the office so I figure i'd let them enjoy some commission)
.
Just tell them that you have a better offer from a competitor and see if they can match it.
Lowballing is always the way to go.
Most deal toy custom design and manufacture companies have a certain level of fixed costs so assuming a 20% haircut is not always going to work. It also depends upon the quality and originality in the design you want. If all you want is a 4x5 rectangle with one color print on it, the cost is almost always going to be the same from one supplier to another. Will they all be high quality? If you put ten in a row on your desk, will they all look alike because computer controlled software was used to trim and cut the acrylic into sharp angles and sides. If this is done by hand, they will all look different.
I guess I can put a question back to "low balling" the deal toy supplier -- Are you prepared for the swing in quality? Do you want the dealtoy to look "cheap" because it was provided by the least cost supplier? It's kind of like ordering ammunition for your gun if you're a guard and buying from the lowest cost provider! Are you sure it's going to "fire"when you pull the trigger and do what you want it to do? Or will it blow up in your face? Interesting times for suppliers and those who wish to buy from them. Quality always rises to the top, no matter what! Enjoy high quality "branding" for your firm, the firm you made the deal for, and your colleagues. What's the point, otherwise?
"Do what you want it to do?" You mean like, sit on my desk without exploding, and collect dust? This ain't rocket science.
Ask for 20% and claim that you have a better offer from a competitor. If that doesn't work, promise without promising that you've got a bigger deal with more involved parties that will be less price sensitive and you'd love to give them that piece of business if they can budge this one time.
I agree that over the last few years have been able to negotiate. I made a big mistake in trying a bid intensive search. One of my older colleagues turned me on to a company out of the East Coast ehich is the largest manufacturer in the country. They did an amzing job on a M&A project. Has anyone ever used Lucitetombstones? We are using them exclusively since we had such great service and pricing. We still job around but I am loving these guys.
bump
We use lucitetombstones out of RI. Have o ly had outstanding results the past 9 years. After price shopping in th he past, results were inconsistent and I heard these smaller vendors used cheap generic materials and we got some bad deal toy printing. This vendor is the largest in the US and is a winner. Good luck
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