Three Tips on Bargaining

Want to lower the cost of renting a laser marking machine? Here are three practical tips to help you cut your rental costs by 30 %: 1) Find out the going rate, 2) Optimize your negotiating skills, and 3) Dig up the hidden benefits.Suitable for small and medium enterprises and individual users to refer to, it is a book that will help you avoid becoming the next victim.

It's best to get a feel for the market before you make a move.

Don't rush to discuss price with the supplier. First spend half a day doing these three things: Check the average rental price in your area (search for "city + laser engraver daily rental"), ask peers about what they actually paid, and compare the quotations of three or more suppliers.I met a small business owner last week who told me that he discovered that the price difference between the same equipment from different suppliers could be as much as 25 %, and that he chose a supplier that included maintenance costs in the price.

The focus should be on the hidden costs.

Be especially careful about the cost of expendables, shipping costs, and repair deposits.One supplier offered a daily rental rate that was 20 NT less, but wanted 15 % of the total value of the equipment as a deposit.You might ask, "Besides the advertised rent, are there any other fees that must be paid?

The key to the art of negotiation is to master the rhythm of the process.

Don't start by haggling over price, but praise the other side's equipment to establish a good impression.When we got to the part about payment, he suddenly said, "If you can lower the price a little, I'll sign today.This trick worked for a Mr. Chang, an old hand in the metalworking industry, who used it last Friday to successfully convince a supplier to cut prices by 8 %.

Use contrasting pressures.

You can pretend to casually mention, "The price offered by the company next door is 10 % lower than yours ...." At this point, the vendor will probably ask you who this company is. Under no circumstances should you reveal any information.One woman who makes acrylic sculptures used this technique to get her supplier to give her a "boss's special price" on the spot.

Reaping the benefits of long-term cooperation

Don't be fooled by "short-term discounts." Ask directly: "If I sign a six-month lease, what discount will I get?" Many suppliers offer tiered discounts. One customer who does mass processing signed an eight-month lease and ended up getting a waiver of the deposit plus 20 hours of free use.

Using the off season to good advantage.

The months of March-April and September-October are the low seasons for equipment rentals, and this is when it is easiest to bargain.Last week, a customer rented a new model with an autofocus function during the off-season. The price was 34 % lower than in the peak season, and the customer got five extra equipment maintenance services.