How hard can it be to operate a vending business? You do not have to have the skills of a salesman and it is possible to make a full-time living working part-time hours. Even though the vending business looks like a simple business to run, it takes certain skills to be successful.
Pay attention to costs
If you want to maximize your revenue and bottom line profits, you need to pay very careful attention to costs. For every dollar in sales you make, there are expenses that must be deducted.
- Inventory – candy bars, sodas and other items you stock in the vending machine
- Servicing your route – Costs money whether you do it yourself or hire someone
- Spoilage – you can’t sell stale products or products with ripped packaging
- Theft & Vandalism – vending machines make easy targets
- Maintenance – machines need to be serviced and sometimes need repairs
Manage your expenses
- Find a reliable supplier and look for quantity discounts.
- Reduce deliver & pickup costs by planning routes and combining product stocking and cash retrieval into one trip.
- Store inventory in a climate controlled environment.
- Indoor locations are more secure and less prone to theft and vandalism.
- Use a professional vending machine parts and service company like Vend Net USA to assure that your machines are always in top operating condition.
Today’s vending machines are nothing like the vending machines your father or grandfather may have used. Advancements in technology have made smart vending machines almost as popular as smartphones.
As a small business owner, you now have more tools than ever that will allow you to manage your vending machine business more efficiently. It is now possible for customers to pay for their snacks or drinks with their smartphone. It is also possible for a vending machine business owner to get instant feedback from all of the vending machines on his or her route without ever leaving the house.
You can free up your schedule by connecting from a remote location to access valuable data and even change the prices of the items in your vending machine. Companies like SAP and Axeda have applications for machines that can tell you how much of each product you have sold and let you know when the machine needs to be refilled.
You can also free up time in your schedule by contracting with a company like Vend Net USA, who can service and repair all of your vending machines so you do not lose business and do not get complaints from angry customers.
Using technology and partnering with experts who know everything there is to know about vending machines will give you the time to look for new locations, install additional vending machines and grow your business.
A lot of vending businesses, especially when you are starting out, run on a pretty lean business model. Small budgets, insufficient employees or other unforeseen problems that plague small businesses often cause serious problems with the cash flow of businesses. Especially when your machines are not functioning properly or have completely broken down, having the resources available to correct problems quickly and efficiently is key to staying profitable and servicing your customers.
Vend Net USA is at your service to help keep your business up and running by supplementing your business with a reliable and efficient vending machine repairs and other technical services. Whenever your vending machines are not functioning properly, you are losing out on revenue. For small businesses this can mean the difference between making a profit that month or having to figure out where to cut the budget for next month.
Vending can be a very rewarding business but trying to tackle all of the obstacles of owning and operating a small business all by yourself is too much. Let us help your business succeed!