Bid Work 101 for Dealers


With bid work becoming more


competitive, these practices can give dealers the edge when submitting proposals.


B


id work has long been a part of the foodservice equipment and supplies industry as operators see the competitive


bidding process as a way of getting the best price and value from distributors. But with high infl ation over the past year, there are signs that even more companies are using the bidding approach. According to a study from Loopio, a request for proposals (RFP) response platform provider, surveyed companies now source 39 percent of their revenue from RFPs, up 6 percent from 2022. That shows there is a lot of opportunity for dealers to pursue competitive bidding. But as the


number of bids grows, the process itself appears to be getting even more competitive. The win rate for companies responding to bids was 53 percent in 2019, but that fell to 44 percent in 2021 and has held steady for the past two years, according to Loopio’s data. So how can dealers create an advantage when responding to an RFP? Developing a standardized and proven process helps companies prepare better responses and make them more likely to win a bid. It can also ease the process on the dealer’s side, enabling them to submit responses more quickly and reduce the cost of preparing the bid.


By TIm O’Connor Spring 2023 11


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