Use the special code NOMAD5 when you sign up at www.lnpg.co.uk to get 5% off your membership fee!
In 2008, Nick Watchorn, a landlord frustrated by the difficulty in finding good quality products for his rental properties, came up with a simple idea: to bring together landlords from across the UK, who collectively would be able to negotiate better prices.
Since then, the Landlords National Purchasing Group (LNPG) has gone from strength to strength and has become the fastest growing buying group for landlords in the UK.
Nick has joined Rob today to talk about his journey through property, the many frustrations that led to the founding of LNPG, and his perhaps surprising aims for the future of LNPG.
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KEY TAKEAWAYS
As the LNPG grew, manufacturers began to take notice. Nick had to fight for discounts and for better quality goods, but now, with a massive spending collective behind him, the purchasing power has shifted in their favour.
Most people purchase at retail price when it comes to household goods; this is called cost-to-serve.
Trade centres do not have customer service facilities. They generally sell to businesses who know how to use the materials they’re buying, and so do not require extra service.
You have to have vision and values in order to drive yourself forward. Nick likes to visually strategise and discuss his aims and goals with his team at length.
Nick’s main aim for LNPG is to simply keep it running and keep it growing. He has no plans to offload what is now a highly lucrative and successful business. The core purpose has been, and always will be, to support landlords across the UK.
To enforce the promise that LNPG is about value, the organisation will roll over any landlord’s membership fee to the next year if they do not recoup the value of the fee back from purchases made.
Upgrading to a higher quality product at trade prices will save landlords money in the long run, but many are too focussed on short term costs.
If you’re a landlord, you can buy goods through LNPG for your own home. If you are not a landlord, you cannot, and will be barred if you are caught. Cases where these rules are being broken are being treated as fraud.
BEST MOMENTS
‘If someone stops me from going through a door, then it just makes me want to go through even more’
‘LNPG is about improving the standard of living for tenants’
‘Do the job once, and not twice or three times’
VALUABLE RESOURCES
The Property Nomads Website
Buy To Let: How To Get Started – By Rob Smallbone (Amazon)
Landlords National Purchasing Group - https://www.lnpg.co.uk
Nick Watchorn LinkedIn - https://www.linkedin.com/in/nickwatchorn/?originalSubdomain=uk
Don’t forget to use the special code NOMAD5 when you sign up at www.lnpg.co.uk to get 5% off your membership fee!
ABOUT THE HOST
Rob Smallbone, Rachael Taylor and Matt McSherry, the hosts of The Property Nomads Podcast, are on a global mission to guide your success. Success can happen in many ways, shapes and forms. Think about what success means to you. More properties? More clients? Financial freedom? Time freedom?
Rob, Rachael & Matt just want to make a huge difference to people around the world. They are here to guide your success in property, business and life and to inspire you to achieve your goals, dreams and visions. They’ve travelled, explored, and invested. And they’re not planning on stopping these activities anytime soon.
Buckle up, sit tight and enjoy the ride that is life.
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