Global Franchise Issue 10.1

Negotiation isn’t just about numbers or hardball tactics — it’s a skill that can shape your entire business journey. Whether you’re closing a big contract or hashing out the day-to-day details, knowing how to negotiate well puts you in control. These four practical principles will help you approach your next deal with confidence, clarity, and a better chance of a win for everyone involved. Words | CHARLOTTE SMITH Negotiating a deal PREPARATION IS YOUR POWER Great negotiators don’t wing it – they do their homework. That means understanding who you’re talking to, what they want, and where they might push back. Be clear about what you want too, and where you’re willing to flex. The more you know, the more confident you’ll sound, and confidence is powerful. It’s not just about facts and figures, either. Emotional prep matters just as much. Stay calm, really listen, and keep your options open. Negotiations rarely go exactly to plan, so being adaptable can make all the difference. And don’t forget the setting. Whether it’s an in- person meeting, a video call, or even an email exchange, the environment matters. Choose a time and place that allows you to think clearly and speak confidently. When you walk in prepared, you’re already set up for success. BUILD RELATIONSHIPS, NOT JUST DEALS A good deal is great, but a good relationship is better. If you go in just trying to “win,” you might miss out on longer-term opportunities. Think of negotiation as the start of a partnership, not just a transaction. Be open and honest. Show that you’re genuinely interested in what the other side needs, not just what you want. When people feel heard and respected, they’re much more likely to meet you halfway. Pay attention to body language and tone as those small signals can reveal a lot. If something feels off, pause and check in. It’s better to clear the air than to push forward on shaky ground. And don’t let the relationship end once the contract is signed. Follow up, deliver on your promises, and say thank you. When people trust you, they’ll want to work with you again. M A S T E R T H E A R T O F . . . “When people trust you, they’ll want to work with you again – and that’s how real business momentum builds” CONTROL THE CONVERSATION Strong negotiators don’t just wait to respond – they guide the conversation. One of the best ways to do that? Ask smart, open-ended questions. Instead of saying, “Is this your best offer?” try, “Can you walk me through how you arrived at this?” That opens the door to a more meaningful dialogue. And don’t underestimate the power of a pause. Silence makes people think and talk. Give space when it feels right, and you might learn more than you expected. Above all, stay calm and confident. Assertiveness shows you know your value. Aggression? Not so much. Lead the conversation with purpose, and you’ll steer it where it needs to go. KNOWWHEN TOWALKAWAY Here’s the truth: not every deal is worth doing. Great negotiators knowwhere their line is and when to stick to it. Before you start talking, decide what’s non-negotiable. If the deal crosses that line, be ready to say no. Walking away doesn’t mean slamming doors. Do it respectfully, keep the conversation professional, and leave the door open. You might be surprised how often the other party comes back with a better offer. Make sure you’ve got a plan B. Whether it’s another partner, a different route, or even waiting it out, having options keeps you from negotiating out of fear or pressure. 59 GLOBAL-FRANCHISE.COM Ins ight