Frequently Asked Questions
“… is it going to be worth the investment, will it actually save me any money?”
The membership fee is covered by a full no-win/no-fee guarantee that removes any financial risk so if we don’t find any savings it costs you nothing. Other members have benefited so why won’t you? The only way to know will be to try it for yourself. On average members save ten times their investment.
“… we are part of a bigger group with its own purchasing function so it doesn’t apply to us.”
Even in that situation several purchases remain a local decision and corporate deals can be ring-fenced anyway. We already have several larger members and as the savings guarantee still applies we are the ones taking the risk.
“… the buying group is run by Independent Buyers so don’t they take a cut?”
The cost of running the buying group is largely covered by membership fees to ensure the negotiated prices be as low as possible. In a limited number of categories commission is earned, which helps to cover the running costs, but this does not affect supplier selection or compromise independence.
“… we are too busy with other business challenges right now.”
All the more reason to act now! The whole point is to deliver savings without your input and the buying group team will make it happen for you so you don’t have to ‘take your eye off the ball’. Besides, is there ever an easy time?
“… don’t all the deals relate to low value purchases so aren’t the savings small”
True, they are small purchases and not worth your effort so why waste your valuable resources. The aggregated amount is however quite significant and typically savings are 10x your investment. We do plan to help on more important areas as the group develops but let succeed with these items first.
“… are the supplies involved any good?”
Our reputation is at stake if we introduce you to poor quality suppliers so we tend to negotiate sizeable discounts from market leading vendors.
“… our purchases are unique”
We are not interested in any unique materials, services or process costs. The whole point of a buying group is to aggregate the common things across several businesses. If you are worried about confidentiality, the membership form addresses that specifically.
“… we can not change suppliers without a lengthy approval procedure”
That usually only applies for core strategic purchases and not the ‘indirects’ the Buying Group focuses upon. Even if it does apply the benefit is that you need only trial those that you will already know offer a cost saving.
“… is there a competition law issue?”
The law is designed to protect the end customer from high prices, buying groups achieve the opposite. It may be an issue if we represented over 40% of a specific market but that is unlikely with the low-value spends we are currently involved with.
…aren’t some purchases, such as insurance, regulated?”
The sale of insurance products is regulated by the financial conduct authority and as such we can make no recommendations on any insurance products in anyway. Independent Buyers Ltd are an Introducer Appointed Representative of Lorica Insurance Brokers Limited, authorised and regulated by the Financial Conduct Authority.