Every business looks to multiply its profits. What if we tell you there are other ways to do that apart from sales? Getting the right construction materials at the right cost is essential to run a profitable business.
This is a classic problem for contractors, buying limited according to current need or buying in bulk. The latter helps save money but comes along with a huge risk. If you are not getting sufficient projects, some of those materials could perish over time. But this risk yields a high reward.
Here are the reasons why giving bulk orders for construction material can be the best decision for you.
More Money For You
The basic advantage of buying in bulk is the money it saves directly.
Buying a few units will get you the retail price of the materials. You might get a small discount if you have a good relationship with the seller. However, buying in bulk can get you wholesale rates for many items. These rates are much lower than the retail prices. Depending on your purchase, you can even be eligible for a discount after this. This tip can end up saving you lots of money.
Avoiding Time Wastage In The Future
Purchasing when required minimizes wastage to a certain extent. The problem arises when you run out of material in the middle of a project (which happens often).
It will then force you to visit the store again or send someone from your team to do the job. Multiply this by the number of times this could happen and you have hours wasted. Bulk buying saves you multiple trips.
Consistency
Many contractors choose stone for building. In cases of materials like stone and marble, natural ones have a continuous pattern.
If your client asks you to extend their stonework, chances are that you won’t get a similar pattern. Purchasing several pieces at the same time will help you maintain consistency in design. Your clients will appreciate this when they ask for repair and get a piece that fits both structurally and aesthetically.
Being Prepared
A good contractor should always be prepared.
Post-purchase, you will have enough materials in your arsenal to finish the job easily. The ability to provide multiple options is a big positive to impress the customers. Having good customer relations helps you boost your business. This also means that you will be ready to start any project sooner than your competitors.
Sharing The Savings
Extending your benefits to your customers can do wonders in a business.
Since you got the materials at a discounted price, you can offer them to your clients at a discount without affecting your profits. Better rates will tip the scales in your favor when they are torn between you and a fellow contractor.
Eco-Friendly Option
The amount of thought you give to the environment tells people a lot about you.
Buying in bulk is something you can state proudly in your campaigns. This promotes less packing and lesser fuel to deliver the materials to you. Pairing that up with efficiently handling the waste post-construction will create a good public image.
To conclude, bulk orders are a great way to save you some money and improve your relations along the way. Read here to know more ways to protect your business against staggering work costs.
Stay tuned for more insightful information. Also, if you wish to expand your home improvement business, financing your clients could be a great move. It can result in a great customer experience and increases the chances of lead conversion. At CustomFin, we link with contractors to provide financing to their clients.
