There is one thing that you have probably wondered before: do contractors get a discount when they shop at Lowe’s? After all, it seems reasonable to believe that contractors likely spend a serious amount of cash at mega-chain stores such as Home Depot & Lowe’s, so certainly, they get a Lowe’s contractor discount, right?
Well, yes and no. Technically speaking, they don’t get a discount just for being contractors. This might sound unfortunate or unfair but Lowe’s is a business, remember. It is their sole purpose to make money and as much of it as possible to ensure that their bottom line is as healthy as it can be.
That being said, contractors aren’t exactly lumped in with the rest of the customer base when using their local Lowe’s. So, how do contractors actually save money when they use the giant chain? Here’s how: the Volume Pricing Program.
Lowe’s and the Volume Pricing Program
The Volume Pricing Program (VPP) is a way for contractors or individuals to save money when making large volume orders. The way it works is actually pretty simple, too. Make up your shopping list and present it at the Pro Desk at the nearest Lowe’s to get your Lowe’s discount. They offer 5%-50% off on over 2,000 products throughout their stores.
When you consider just how much money a contractor spends on supplies in a given year that is a lot of savings that can really add up over time. When your contractor business saves money on supplies, that means there is that much more money available to generate contractor leads.
Perhaps the best thing about this for contractors is that, in addition to these savings, they have access to the massive amount of supplies that are available through the Lowe’s chains. This can be essential when trying to fill a big order or working on a bigger job.
Contractors have likely all been there before: a huge job comes in and you find yourself scrambling to not only assemble the team but to get all the necessary supplies in hand so that you can begin the job in a timely manner. This can be a stressful period for any contractor, especially when you have difficulty in gathering those supplies.
Thanks to the Lowe’s discount and their VPP, the entire process is easy and you can even assemble your shopping list online to save additional time. Planning ahead has never been easier than it is when using the VPP because it means savings for your business as well as instant availability for the supplies that are essential to getting the job done in a quick and timely manner.
Additional Ways to Save Money
Another great thing about the Volume Pricing Program is that there are bulk pricing-eligible products where you can save even more money when getting the essential supplies that your business needs. There are few feelings quite as good as being able to save a substantial amount of money when purchasing the materials that you needed for the job anyway. It quite literally is a “two birds with one stone” scenario.
Of course, contractors can only see these savings when they consistently use the VPP. Using it once or twice might save a bit of money on projects that your company undertakes, but it is with extended use that the savings can really add up. And as is the case with any small business, there is never enough money and being able to reallocate funds to job bids or other essentials can go a long way towards the overall health of your business.
There are also a few things to know. When you speak to the contractor’s desk, you submit your order to them. From there, the Pro will submit the order to the corporate office to get a price quote and, within a few hours, you will be offered a price that is somewhere in the neighborhood of 8-12% below what the retail cost of that order would normally be.
What they don’t tell you is that there is room for negotiation. You can always negotiate for a steeper discount and the general rule of thumb is to never take less than the 12% mentioned previously. You can actually get it down a little further – in the 17-20% neighborhood if you are lucky – depending on what is in your order. Keep in mind that the higher-margin items that you order will generally get a better overall discount than lower-margin items. If you are buying something that retails at $100 but earns the company very high margins, you might be able to get a larger discount on the order.
On the whole, Lowe’s Business Tools & Services are potentially a very helpful one for contractor businesses of all sizes. If you are a smaller contractor, being able to consistently have access to essential supplies and get them at a discount price can mean the difference between an additional bid or two. This can add up before you know it, making a significant difference on your bottom line.
For those contractors that run with a bit larger of a budget, those savings can also make a substantial impact if you are purchasing materials on a regular basis. For a business of any size, savings on materials needed are massive. Just as big as being able to reallocate funds into other areas of the business. This gives your business greater versatility and the ability to strengthen areas that may have been weaker.
Signing up for the Volume Pricing Program can be a game-changer for contractors everywhere. With a relatively short turnaround time and the potential for serious savings, it makes for a very smart idea for any contractor out there. Make the best use of every dollar by saving on bulk orders and being as prepared as you possibly can be when lining up a new or big job.
The Volume Pricing Program has changed the way that smaller contractors do business and made the entire process far easier and more cost-effective, effectively providing a Lowe’s contractor discount. Taking advantage of it means that smaller contractors can take more jobs without incurring above-market costs.
Lowe’s Contractor Discount Card
In addition to the VPP program offered by Lowe’s, contractors can also apply for a business account card. This card essentially services as a contractor discount card as you receive exclusive discounts with 5% off every day. 2020 has been an interesting year for everyone, but contractors have had to adapt their navigation of economic uncertainty. Applying for a Lowe’s business card is one creative way to maximize your material expenses and continue running your contractor business at its highest possible level. One thing we can all agree on, premium materials in bulk make our jobs a lot easier. But the investment has to make sense to the contractor, first and foremost.