If you have vending machines in your garage or a storage facility then chances are your business didn't go so well. Don't feel bad as many people get burned initially in this type of business and then they are afraid to try again. It is time to get the right information now though so you can put those vending machines into action.
There are plenty of scams out there when it comes to the vending machine business. You will find people promise to find you locations but they don't. If they do follow through the locations they find aren't going to be anywhere that make you a great deal of money. It can be depressing to find that you spend more in gas to fill up the vending machines than what you found in profits waiting for you.
Make sure you spend time observing traffic in the morning and the evening hours. You also need to try out various days of the week including the weekends. There can be a significant change from one day to the next and from time of day to the next. To evaluate a given vending machine location based on just a brief observation isn't going to be reliable.
Since you can't just put vending machines any place you want you will next have to talk with the person that is in charge of that decision. Know what you are talking about when you approach them. They need to realize that you are serious about your business and that you are well informed. Work on your communication skills if they are rusty so you can forge a good relationship.
Before you can offer them a percentage of your profits or agree to a set fee per month for the location you will need to have a good idea of what your profits will be. You don't want to owe them more than you are going to make or you may as well just leave those vending machines where you have them stored.
Even if the meeting with the owner of the vending machine location went extremely well you need to put all of the information into a contract. Don't place your machines until the contract has been signed by both parties. Having these documents in place will save you time and money in the long run should any problems come up.
Sometimes vending machines make easy targets for vandals or thieves. You don't want them to destroy your machines or take your money. Therefore you need to invest in safety measures such as video cameras and even bolts to secure the machines in place. Alarms can result in them running off instead of going forward with their criminal acts.
If the vending machine business left a bad taste in your mouth you can change all of that. Don't let the investments you have made in machines be all for nothing. Give it a second chance once you have educated yourself with the vital information you need. From there you can play your strategy and start working towards your goals.
There are plenty of scams out there when it comes to the vending machine business. You will find people promise to find you locations but they don't. If they do follow through the locations they find aren't going to be anywhere that make you a great deal of money. It can be depressing to find that you spend more in gas to fill up the vending machines than what you found in profits waiting for you.
Make sure you spend time observing traffic in the morning and the evening hours. You also need to try out various days of the week including the weekends. There can be a significant change from one day to the next and from time of day to the next. To evaluate a given vending machine location based on just a brief observation isn't going to be reliable.
Since you can't just put vending machines any place you want you will next have to talk with the person that is in charge of that decision. Know what you are talking about when you approach them. They need to realize that you are serious about your business and that you are well informed. Work on your communication skills if they are rusty so you can forge a good relationship.
Before you can offer them a percentage of your profits or agree to a set fee per month for the location you will need to have a good idea of what your profits will be. You don't want to owe them more than you are going to make or you may as well just leave those vending machines where you have them stored.
Even if the meeting with the owner of the vending machine location went extremely well you need to put all of the information into a contract. Don't place your machines until the contract has been signed by both parties. Having these documents in place will save you time and money in the long run should any problems come up.
Sometimes vending machines make easy targets for vandals or thieves. You don't want them to destroy your machines or take your money. Therefore you need to invest in safety measures such as video cameras and even bolts to secure the machines in place. Alarms can result in them running off instead of going forward with their criminal acts.
If the vending machine business left a bad taste in your mouth you can change all of that. Don't let the investments you have made in machines be all for nothing. Give it a second chance once you have educated yourself with the vital information you need. From there you can play your strategy and start working towards your goals.
About the Author:
Robert Farnham - veteran vending business operator and author. He now writes articles and gives advise to new operators to help them avoid vending locating company nightmares, and the best way to find great Grab a totally unique version of this article from the Uber Article Directory
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