Don’t Let Customer Negotiators Erode Your Profit Margin

Jul 14, 2010 | Competing in Today's Economy, Destination University News, Small Business Advice

It’s become a new fad in this economy for consumers to try to beat up any retailer and negotiate for price discounts, even when the merchandise is fairly priced.  Part of this trend comes from discount-gurus and price negotiators who “teach” how to ask for better deals.

I’m all for getting the best price in a product, but most independent business owners are operating on single or low double digit profit margins anyway.  Giving up extra profit margin to a negotiating customer might fill the cash register temporarily, but it’s the fastest way to run your business into the dirt.

If you are a business owner, it’s important to know the techniques of a bargain buyer.  Please take some time today to read the tips from this negotiating guru, as seen in the Washington Post.  Click here to read the article now.

What are your best answers to consumers who are asking for discounts, when you have already priced the product competitively?   Share them with us!

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