Negotiation Case
What are your interests? (Prioritized)
As we plan to expand our business, I want to purchase the restaurant. We want to increase the number of restaurants we own and increase our business to other EU countries.
What is your target? Why?
My target is to buy the restaurant as low as possible.
What is your reservation? Why?
My reservation is to buy this restaurant not more than 160000 euro. If I do not buy the restaurant with the suggested price, I can buy the land and build a new large restaurant.
What is your BATNA?
My BATNA will be buy a land and build a new restaurant on it. It will cost more than 200000. The new restaurant will have more capacity and revenue.
How will you manage the relationship?
At first by doing some research, I will get enough information about the price of the restaurants, land and the market for that specific area. So when the seller wants to negotiate about the price, I will know the bargaining range. During the meeting, I will be the anchor, the first person who determines the price.
How will you manage conflicts?
Because of the different goals and perspectives, sometimes there will be some conflicts during the negotiation. To manage the conflicts, I should leave the discussion open. Ask some questions to:
move from argument to dialogue
discover underling interests
What can you offer?
I can offer him to keep all of his employees and will not layoff anybody. Also to decrease the price as much as possible, I should talk about disadvantage of that specific restaurant.