How Vendor Partnerships Save Time While Increasing Profit

Newsroom | 2 min read | June 17, 2024

As a business owner in the trades, your vendor relationships have a direct impact on your customer relationships. The timely delivery of parts and materials is crucial to keep installs and repairs on schedule while providing value for your customers. Strong vendor relationship management with trusted manufacturers and vetted service providers enables you to streamline your operations, improve customer experiences, and propel your business forward.

Nexstar Network has over thirty years of experience helping top tradespeople become top business owners, and our Strategic Partner program is a key component of our members’ success. Here are three main ways contractors can build stronger relationships with vendors.

1. Form Strategic Partnerships

Using strategic partners can be a game-changer for many home service contractors. For instance, at Nexstar, we match the best vendors with the best contractors to create new opportunities. These partnerships span a wide range of products and services across four main categories: manufacturing, distribution, marketing, and software.

When looking to choose partners for your home services business, aim for relationships that offer more than just typical buyers’ group benefits. Choose vendors that have been thoroughly vetted and are dedicated to looking out for you, your team and your customers. The right partnerships can give your business a competitive edge through discounts, rebates, visibility, and more.

2. Look For Streamlined Vendor Processes

Connect with strategic partners that offer varied product selection and competitive pricing while maintaining a streamlined ordering process. Remember, consistency in everything from product quality to communication is key in vendor relationship management. Streamlined vendor processes allow you to keep your focus on providing timely, quality solutions for your customers. In other words, the fewer hoops you and your team have to jump through, the better.

3. Unlock Savings with Preferred Status

Having preferred status with vendors can help your business succeed in a number of ways. New or cutting-edge products that may not have been available for you to offer to customers may become available when you have preferred status. Discounts – either by volume or product – may become yours to offer to customers as well. Through your relationship with trusted vendors, you’ll be able to provide greater value to your clients while strengthening your bond with key vendors.

Leverage Our Connections

In addition to providing proven business coaching, Nexstar Network offers a Strategic Partner program to bolster vendor relationships and streamline processes for member-owned businesses. This program saves Nexstar members time and money on services, products, and equipment. More than 60% of the Nexstar membership pays their dues with rebates earned through the program. Nexstar Network members enjoy exclusive rebates and discounts, leveraging combined purchasing power to save time and increase profits. We ensure our partners uphold the highest standards, guided by the Nexstar Network Code of Ethics.

Reach out today to learn more about member-owned Nexstar Network.

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