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Banking and Finance  » Vending machines won't make you money!

Vending machines won't make you money!

I know some of you running a vending business are thinking is

this guy off his rocker? Vending machines do make money, they're

a 24-hour employee that never sleeps, eats or asks for a raise.

And to an extent you're all correct but has it ever occurred to

you that the vending machine is only your tool of choice to earn

your living? Construction workers use a hammer, truck drivers

use their truck, and venders use their machines.

So what's the point? The point is the type of machine your using

isn't the be all end all of your business. The first vending

machine sales person I ever encountered was selling a new design

of Bulk candy machines. The kind you'd see in a department store

or mall. He preached about the increase in sales his clients

were seeing, but the cost of the machines was astronomical. I

asked him a simple question about how a machine could increase

sales, and voila I had found the hole in his pitch. It can't, if

a machine has M&M's in it and accepts quarters either an older

style or newer type of machine has the potential to close the

deal.

So what makes you money in the vending business?

The magic ingredient is you! A simple scenario, you have three

snack machines. You pay a locating company to place these

machines, and you run around town collecting money and

re-filling them. After about 6 weeks of doing this you realize

that the amount you collect each week is barely worth it for the

running around you do so you decide to sell the machines and

chalk it up to the vending industry just wasn't for you.

With this example you're involvement in the business is more or

less an employee. You'd be doing the same thing with the same

level of involvement if you worked for the large vending company

in your town. How can you turn this around? Simple, your vending

businesses success depends on you. Your job is to place

machines, and provide the best customer service possible. Are

the machine placement company's interests in you? Nope, they get

paid whether your machines make money or not, the profitable

accounts are dug up from your hard work, networking, and sales

abilities.

So what more can you do to have your best shot at success?

Don't use a placement company to get locations. It's not the

nicest part of the job, but everything is sales. You need to

network, watch new businesses moving in, new developments. Let

everyone know the business your in, you never know who's office

is having difficulty with their current supplier, or who's

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brother is moving to a new office down the street.

Take care of the accounts you have. It can be easy to become

complacent with your current accounts, you have them, each week

there's money in the machine you fill it back up and away you

go. Remember your best account is your competitor's number one

prospect. Always interact with employees at your locations, find

out if the location is satisfied with its mix of product in your

machine. Let them know who you are, leave your contact info on

your machine.

Last but not least always look professional. Remember what

you're supplying may not be the most important part of a

companies inputs, but there are also others that can do it. By

handling yourself and appearing professional in dress and

behavior you increase the chances of earning referrals to new

locations, new machines at current locations, and decrease turn

over. It's always less expensive to keep a customer then to gain

a new one!

About the author:

For more information about the vending business and vending

machines please visit Vending Machine

Resources.