After accumulating experience in vending business hefty profits can be gained without a problem. But for gaining sufficient experience it is important to get started in a perfect way. If venturing into business is your choice, vending is the best choice. And here are few steps/tips that help you get started:
1)The product selection can be crucial and its demand and profit margin is to be studied thoroughly before investing.
2) Once the selection of product is done the second most important step is the choice of a perfect location. There can be various options such as: waiting rooms, bus stands or other transport stations. It is very important to select a location on the basis of what product are you going to vend through that vending machine.
3)The choice of machine is also an important thing. One has various options of buying or renting a vending machine. Apart from renting, purchasing a new vending machine is also very easy considering the fact that they are self sufficient and are able to pay for themselves in a short span of time.
4)One should not go for used or refurnished machines as they may cost cheaper but prove costlier in the longer run. Besides getting jammed, currency change problem can even be faced in the same.
5)It is very important to see the availability of replacement parts. Using a metal machine is better than a plastic body machine as its repair is easy and parts are easily available.
Pondering on these important facts a small investment in the vending business can provide you nice returns in no time. The biggest benefit of starting a vending business is that you do not need staff. With the latest user-friendly vending machines available in the market it becomes very easy to operate the machine yourself. With machines like Planet Antares ‘Office Deli’ that can vend both beverages and snacks you can use even small space to start a big business.
Purchasing Vending Machines from Reputed Companies
Selection of a vending machine is the first step before starting a vending business. There are several companies offering various kinds of vending machines in the market. But before you purchase, look at all the available options and compare them with each other and make sure you buy a new machine from an established and reputed company. This is because latest and attractive vending machines can lure customers and create impulsive buying in them. Moreover machines purchased from reputed companies ensure best quality at reasonable prices.
Starting a vending business is easy as long as you choose the right kind of vending program. This of course is dependent on how much you are can invest and how many machines you would like to purchase. Since you are a novice to this industry, it is ideal to begin with one or two machines. Once your business takes off, start expanding it by adding more number of machines to the existing ones.
New and branded machines would be best to have in your business or office. These are of high quality and can never let you down. You have different machines that can sell a variety of products like snacks, soda, confectionery, ice creams and food items. Latest vending machines also have high capacity which means that they can accommodate wide variety of products. The most ideal locations for placing vending machines are shopping malls, offices, schools and other places with high customer traffic.
New vending machines purchased from reputed companies will not let you down. Preventing break downs or downtime is very important for an operator as downtime can make you loose money. Downtime refers to the time when a vending machine is out of order. During this time customers will be unable to use your machine thereby affecting your sales. And if this problem persists for a long time, it would adversely affect your sales. Frequent break downs can be prevented by proper maintenance and timely servicing of the machine.
New and high quality vending machines allow you to have a competitive edge over others not only in terms of their looks but also their performance efficiency. Hence it is important to purchase vending machines of established and reputed companies.
Do not get lured away by the profits generated by vending business. If you want to be a successful vending operator and create a unique identity for yourself in this billion dollar industry, then you must understand few elements before you make a decision of taking up this business.
If you are a novice and money is your main constraint, then candy, gumball or toy vending machines would be appropriate for you. These machines are available at lower prices and can be installed easily in any location. The service, maintenance and repairs required for these machines are also very simple. On the other hand, if you willing to invest large amounts, then snack or soda machines is definitely a good option. Snack vending machines are available in various shapes, sizes and styles. Some of these machines are portable and can be hung on the wall.
After deciding on the type of vending machine you would like to purchase, choose the product you would like to dispense in this machine. But before you choose, identify customer requirements, products in demand and latest entrants. You need to offer products that are preferred the most in order to increase your sales.
Always try to acquire products from a wholesale supplier. Modern technology has made it possible to look for online product suppliers. You can use this information to compare their prices and arrive at a fair deal. If you are able to procure stock at a cheaper rate, you can fix higher profit margin to it and sell. In this way you will be able to generate huge profits.
Try to offer more than one variety of products in your machine since this will attract customers towards your machine thereby increases the number of repeat customers. Try to offer a combination of products. For instance: best selling product along with branded ones or new entrants.
Besides these methods, you can also offer some discounts or introduce draws and coupons to attract customers. It is imperative that operator keeps himself updated with changes in markets, customer’s needs and preferences. These factors can help you generate huge business.
The only substantial investment you have to make while starting up a vending business is procuring a vending machine. It is important to make the investment in the right and futuristic vending machine that can work without any fault for years. Not only the vending machine should be fault free for years but should have the latest upgrades. I would advice vending operators to simply say NO to refurbished vending machines. Refurbished vending machines are old machines that are repaired and painted.
Why we should avoid refurbished/ used vending machines? Well, simply because they are old obsolete vending machines discarded by their original owners for some or the other reason. Most of the vending machines are discarded when they start giving a lot of trouble and owner have to spend substantial time and money in getting them repaired. These discarded machines are purchased by refurbishing companies at almost junk price. These machines are repaired and painted to make them look like new and through marketing campaigns they are sold off at higher prices to novice entrepreneurs.
Buying a refurbished vending machine can give you problems like:
1. Frequent machine failures 2. Power supply failures 3. Temperature and humidity control faults. 4. Machine jams 5. Product spoilage etc
Refurbished vending machines are old machines which are just repaired; they are usually bulky and would not suit sophisticated locations. Frequent failure of vending machine can also result in loss of vending account. There are a lot of negatives associated with refurbished vending machines. It is advised to make a smart move by purchasing a new vending machine in the first instance rather than learning from mistakes.
Planet Antares has remarkable vending solutions including brand new vending machines. Just contact Planet Antares support staff with your requirements. They will assist you in choosing the right vending equipment for your business.
