Ep. 2953 - Q&A: “How can I negotiate better terms with my suppliers?”

Side Hustle School

Chris Guillebeau / Onward Project

Business, Entrepreneurship, Careers

4.8 • 3.3K Ratings

🗓️ 31 January 2025

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

In today’s episode, we help a bakery owner navigate supplier negotiations. Learn how to improve payment terms, reduce costs, and build stronger partnerships with your vendors.

Side Hustle School features a new episode EVERY DAY, featuring detailed case studies of people who earn extra money without quitting their job. This year, the show includes free guided lessons and listener Q&A several days each week.

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Transcript

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0:00.0	With our longtime partner, ShipStation, you can save hours and money every month by shipping
0:04.3	from all your stores with one login. It also lets you find the best rates among all the global
0:09.1	carriers allowing you to focus on other parts of your business. Calm the chaos of order
0:13.5	from a moment with the shipping software that delivers. Just go to shipstation.com and use code
0:17.8	side hustle to sign up for your free trial. That's shipstation.com
0:21.8	code side hustle.
0:25.6	Lemonada.
0:30.2	How can you negotiate better terms with suppliers?
0:37.7	Welcome, friends.
0:38.6	Welcome back to Sidosville School.
0:39.9	It's the last day of the month.
0:41.3	In today's episode, we're going to help a bakery owner navigate these supplier negotiations.
0:46.8	He's got a small bakery, it sounds like.
0:49.2	He'll tell us a little bit about it.
0:50.9	And naturally, he relies on suppliers, and the costs can add up fast. So he's like,
0:55.8	what can I do about this? Can I negotiate better terms without straining the relationships that I've
1:00.8	built here? We had a consignment question about this. Well, consignment sales maybe 10 days ago
1:07.3	from someone who was selling jewelry in a consignment shop, and she was like,
1:11.7	I pay 40% commission.
1:12.9	That feels like too much.
1:14.6	And this is a little bit different because unlike a consignment shop, like she had other
1:19.3	ways to sell her business.
	...

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