So you want to start a vending business and you are not really sure which way to start. Thinking about the bulk vending business or maybe starting at setting up some pop and snack vending machines both are completely viable options. In vending you can set up your machines at a variety of different locations and profit and make substantial gains if you find the right locations.
I have found that people who are either just starting out or even the veteran vending operator’s really struggle with finding new locations to place their vending machines. I mean really anyone can buy a vending machine almost anywhere but the real challenge is growing and placing your machines at new locations on a steady regular basis.
Building a vending business means constantly growing the business by placing more machines running the location and reinvesting your earnings. The real goal is to buy a vending machine and place it at a high traffic location then use the income that you derive to pay off the machine as quickly as possible then re invest your earnings and buy more machines. Building your business in this fashion will enable your to constantly make income and provide more value to your business.
So how do people make money in the vending and how does the business really work? In most cases a vending service operator will set up their vending machines at local businesses in their community free of charge as they derive income from the sales of products in their vending machines. Some companies may request that the vending company pay a commission to the location but this isn’t always a must. One thing that you must remember always is that you are in business to make money for you. If the location warrants a commission and what I mean by warrant is that there must be some substantial sales volume running through your vending machines then you can do so.
You just might have to explain to your prospect that you might want to monitor the sales from the machines for a few months before making any agreement on commissions. In general typical percentage payouts are around 10 -12 % of gross sales from your machines. So how do you even get to the point of getting in front of companies in your community and getting your machines into these locations? Good question because if you are like most this is the biggest struggle that most operator’s face. Well only the ones without a plan! What I mean by a plan is do you know how to position yourself in front of your prospect properly?
How about a marketing and business building plan? This is why a large percentage of businesses fail because they have not implemented the right plan of attack in order to dominate their market. So what if I told you that there are other vending operator’s in your community right now who don’t know how to market and get new vending locations? Would you believe me? What If I told you that you could clobber your competition in an instant just by implementing a few small things. Would you believe me? Because I myself am a vending operator who has dominated my local are and market by implementing a few small pieces of the puzzle and I will tell you that my phone keeps ringing off the hook.
Learning the ropes about obtaining new locations isn’t as hard as you might think. It’s all about building your vending business the right way and implementing specific marketing tactics.