We find that many of our clients have fallen into a common trap which is a poorly negotiated contract. A poorly negotiated deal will work against you whether it’s a lease, laser, computer software, or private skincare.
In order to avoid the damage a poorly negotiated contract can bring and always keep in mind the following three items:
- Make sure the details are written out ahead of time in the contract. Also, make sure you ask for more than what is brought to the table. For example with the vendors, it is best to spell things out. These are samples, financing, rebates, details of returning products, cooperative advertising, shipping/handling, and more.
- Do your due diligence. This includes not only knowing the level of authority you’re dealing with but the facts behind your requests. When it comes to a strong negotiation, the more facts you bring, the more power you have. Know that facts will always beat opinion, so facts are key.
- Don’t be afraid to walk away from the deal. If you’re not able to secure exactly what makes sense for you, move on. Be sure to let the other party know that.
For more information on what you can negotiate, check out these articles from our founder, Jay Shorr:
- Click Here in “How to Negotiate with Vendors” in Skin Inc. magazine
- Tap Here in “What to Negotiate” in MedEsthetics magazine (a key articles for anyone looking to sign new equipment or leasing space)
- Look Here in “Top 6 Negotiating Tips” in Plastic Surgery Practice magazine
And remember, we’re always happy to help you with your negotiation needs!