Negotiating better supplier deals isn’t about being pushy; it’s about being strategic. For fast-growing New Zealand brands, the right approach can mean not just savings but stronger partnerships that fuel your growth.
1. Understand Your Growth Leverage
First up, understand your growth leverage. As a fast-growing brand, suppliers are keen to work with businesses on the rise—they know there's a ton of potential in aligning with success. If you can clearly show them how you're growing, backed by solid data and forecasts, you’re giving them a reason to believe in your future. Your growth story isn’t just about numbers; it’s about painting a picture of long-term success and showing how working with you can mean more business for them down the track.
2. Forecast with Confidence
When it comes to negotiating, confidence goes a long way. Come to the table with realistic, well-researched growth projections—backed by things like past sales trends, upcoming product launches, or market expansions you’ve got in the works. Suppliers want to see that you're not just winging it—they want evidence that you’re prepared and confident about your growth. When they see that roadmap, they’re more likely to work with you on terms that benefit both sides.
3. Prepare for Re-Negotiation as You Scale
As you grow, so does your power to renegotiate. Keep an eye on your order volumes and, as they scale, go back to your suppliers and revisit your agreements. Suppliers are often happy to rework terms for businesses showing steady growth, and that’s your chance to negotiate better deals. If you’re hitting certain volume targets, now’s the time to talk loyalty discounts or more favourable terms, setting you up for success as you continue to scale.
4. Do Your Homework
Doing your homework is huge, especially when you’re a fast-growing brand. Don’t just get one quote and take it at face value. Get a few quotes to understand what the market’s really offering. Then, dig deeper into the suppliers themselves. What are their strengths? Where do they fall short? What are their competitors doing? When you know the full landscape, you can leverage that knowledge to make smarter, more informed decisions and better negotiate your terms.
5. Build Strong Relationships for Long-Term Success
Remember, negotiation isn’t just a one-off transaction—it’s part of a long-term partnership. For fast-growing brands, building a strong relationship with suppliers can pay off massively. Keep that communication flowing, be upfront about your needs and challenges, and always follow through on your promises. When suppliers see you as a reliable and trustworthy partner, they’re more likely to offer you better deals and even work with you on flexible terms. Treat the relationship like a two-way street—invest in it, and you’ll find they’re more willing to invest in you as your business grows.
