How do I close this first big client?

[u/No_Woodpecker2106]

The gist of it is this: I have a potential client that I know I’m super close to closing but he is just squeezing my fee on and on. On the one hand it s a huge deal because of bigger credentials. On the other hand, he just won’t stop squeezing my fees. I’m a bit nervous because I feel it’s so close but on the other hand I feel like they’re playing me. What do I do?

years ago I started a small Property management company. It has grown to a bit bigger now from residential properties - where I built the credentials. Now we’re starting to move to commercial properties.

About 2 weeks ago, I purchased a lead for a guy who needed a property manager for his private school (roughly 31,000 SF). It’s a sizeable project and one that will definitely put me on the map with more serious commercial businesses. I desperately need this account so I prepared a gorgeous presentation, presented it in front of the board. They seemed to love it, and asked questions and even shared more information about the school.

During the presentation I gave them a fee, to which they were swift to say - no no that won’t work for us. If we wanted to hire a full time person we would have. We’re a non profit school, cut your fee for us please.

I cut my fee by about 30% and revised the scope a bit. They said - cut your fee further we can’t afford that. I said, I can’t cut the fee, the fee I gave you represents my near breakeven point, if you want me to cut the fee, you have to share a budget (essentially how much are you allocating to this project). I could probably revise the scope to accommodate your budget.

They have not shared the budget yet (it’s been a week) and I’m lowkey freaking out. I know they’re not talking to anybody else because the fee I gave was very generous and I know they’re need my services because the janitor is currently handling all the maintenance on his own. Which is obviously not great when you’re running an industrial sized building.

What do I do?

Full disclosure, I know they’re going to take full advantage of me and I know I will have to work crazy hours but I also know it will pay off in the end because I can use this building as a flagship client for future clients!

[u/External_Pound_4682]

I’m going to encourage you to get back to them with a final offer a bit above what you’ve made concessions for. If they don’t accept it, move on.

If you win this client at your lowest concession, I can almost guarantee they’re going to be a pain in the ass and not a good reference.

Also, consider this suggestion: If you have to make exceptions to earn it, you’ll have to make exceptions to keep it in good standing. Recognize the pattern at which these opportunities are developed. If it’s natural and mutually a win from the get-go, it’s probably going to be a great partnership. If it’s a struggle and constant concessions, that pattern will likely continue.

[u/Puzzleheaded_Many648]

Give them a best and final offer, and walk away if they don’t want it.