BUSINESS TALK
ASKING FOR DISCOUNTS
B.O.B.’S COOL
OR
NAH?
We’ve all seen them, memes shared and posted by small business owners scolding potential clients
or customers who would have the nerve to ask for a discount. Many of us consider it an insult when
someone suggests to us that we should consider reducing our price or rate. If this is you, I’d like for
you to answer the following questions:
IS IT DISRESPECTFUL TO ASK FOR DISCOUNTS WHEN
SUPPORTING BLACK OWNED BUSINESSES OR IS IT GOOD
BUSINESS TO HAVE A SOLID SALES STRATEGY THAT
INCLUDES DISCOUNTS?
1. Do you pay full price for
everything?
2. Do you avoid sales racks?
3. Do you frown at coupon
books and discount flyers?
4. When purchasing for your
business, do you attempt to
negotiate rates?
5. Do you pay the highest rent
possible?
T ruth be told, you’ve probably answered no to most if
not all these questions. Saving money is a smart thing to
do and just because you’re a minority owned business
doesn’t mean your customer or client has to now
become a careless consumer just to support you. People
seeking discounts are potential clients, customers ready
to buy. It’s up to you to close them.
Just because they’re lining up for your product or service
today, doesn’t mean they’ll be lining up tomorrow. As
a business owner, your primary concern next to building
brand awareness should be building brand loyalty.
The best way to achieve this is to be flexible with your
pricing and rates by creating special promotions within
your pricing schedule. If you’re not prepared to offer a
reduced rate or price when asked, you should always
have one waiting. Remember, the idea is to close the
sale in front of you. Hold your price or fee but maybe
offer a 10% or 20% off coupon on the NEXT purchase or
visit. This gets you the sale or booking for the day and
creates a repeat customer at the same time. Many
businesses both large and small, are offering reduced
pricing structures through platforms like Groupon and
now, Urban Pulse Direct has created a platform for
the minority owned business to do to the same. The
difference is, we promote, educate, and support while
you collect your own profits.
Here are a few ideas followed by reasons
why small business owners should not be
afraid of offering discounts:
Ideas
Restaurants - Monday thru Thursday between 2 and 6 are
usually trouble for you. Try offering mid day specials on
drinks and or certain menu items that represent low food
costs and high margins. Another idea is to offer delivery
to local businesses with no delivery fees between those
hours.
Party Rental Companies - Transform your business from
a weekend business to a seven day a week business by
teaming up with daycares, schools and local businesses
to offer significantly reduced promotions. Bounce house
Mondays for a school or snow cone and popcorn day
as an employee engagement morale booster for local
businesses are some great promotions to get you started.
Contractors - Everyone gets nervous when they have to
call a contractor or handyman for a service. Put their
minds at ease by offering free estimates on certain days
or a percentage off if customers mention a promo code
Why and How to Discount
Traffic - Offering discounts for a limited time can draw
customers into your store and most likely draw them into
buying your product or service sooner rather than later.
Make sure to advertise your sale clearly, focusing on
the discounted rates or fees you will be offering and the
exact time your offer will be reduced. Also, be prepare