The main aim behind starting any business is to reap huge profits. How to maximize profits? This is a very common question that haunts most businessmen. Income- expenditure= Profits this is a simple equation that helps us in understanding how to arrive at profits. However making profits is not as easy as depicting in the form of a equation.
When it comes to vending business, location plays a significant role in boosting sales and thus increases profits. Operators need to be very choosing while selecting vending locations. Before finalising any location, operators need to negotiate for the best possible deal. It is a common practise to charge 10% to 30% of profits as rent for installing your vending machine. Try to fix a lower percentage by bargaining.
Installing machine in a location with maximum customer traffic is another way that can help you in maximising profits. High footfall would mean more chances of people buying from the machine. Since vending is impulsive buying, higher the customer traffic higher are the chances of increasing sales. The kind of products dispensed in the machine also influences your selection of location. For instance: if you vend candy, then choose location that has maximum number of kids. The product mix is influenced by your target customers.
Quality is another factor that influences revenue generation. Hence, it is important that you vend only fresh products in your Planet Antares machine. This will not only create goodwill among customers but also boost your sales. Another important thing to be remembered is that customers have fancy for new products. So, try to make use of this by offering latest products in your machine.
Try to keep your Planet Antares vending machines clean and in proper working condition. Since a clean and well maintained machine is highly successful in attracting customers and creating impulsive buying in them
Are you curious to start a vending business of your own? Wondering how to proceed? Vending would be a perfect business option for you since this business does not ask for any specific skill set or prior experience. This might be one of the main reasons for growing popularity of this business.
Generally procuring funds for establishing any business would be the prime concern of any entrepreneur. This is not a very big issue when it comes to vending as there are many financers ready to help you in setting up your own business. But before approaching a financer, every vending operator needs to come up with an estimate of the costs he would incur during the process of setting up his own business.
Your initial establishment cost would depend on two factors, the model of machine you are about to purchase and number of machines required. If you have taken up vending business for the first time, then you might just start with one or two machines. It is also advisable that you choose a product that has maximum demand among customers. Another important thing that operators need to bear in mind is to purchase a new vending machine whenever they take up this business. Several models are vending machines are available in the market at reasonable rates. So, choose the one that best fits your financial limitations. Also make sure that the machine you purchase is from a reputed manufacturer like Planet Antares so that you can bank upon them if the need arises.
Your next step would be choosing the right location. Location plays a crucial role in making your business a huge success. Try to identify locations that have maximum customer traffic. Schools, offices, restaurants, shopping malls, bus and railway stations are some of the most popular locations. Make sure that the location you have selected is easily accessible to your target customers.
After identifying location and installing your machine in there, make sure you give due importance to its maintenance and servicing. Prompt maintenance and timely servicing can increase the life and performance efficiency of your machine and thus provide uninterrupted services to customers. All this would result in happy and satisfied customers.
Vending industry has given employment opportunities to several young and enthusiastic unemployed youth. This is perhaps the only industry that has performed consistently even in time of economic fluctuations. This business has gained equal or perhaps more popularity both among customers and its operators.
However there are certain challenges which every operator who takes up vending business needs to face. Some of them are stated below:
• Competitors: Vending industry is experiencing severe competition among existing customers. In order to sustain and survive in this competitive environment, it becomes mandatory for every operator to come up with some unique strategy that helps him in gaining competitive advantage over his opponent. Although several operators are taking up to vending business, only a few are able to survive why?
• Customer requirements: All the fingers of our hand are not the same. Similar is the case with customer requirements. All customers do not crave for the same. Some are particular about the quality while others are price conscious, some like trying new products while others stick to traditional products. Success can be achieved only by those few operators who understand what customers look for and offer the same to them.
• Products: Products can be broadly classified into two kinds. Branded products and unbranded ones. It has been seen that sales of branded products is usually very high when compared to unbranded ones. But all customers do not prefer branded products. Hence it would be very wise if operator offers both these products in his machine. The main advantage of this is that operator need not take up special promotional activities to promote his unbranded products sale. Since customers who visit the machine for purchasing a branded item would get lured by the unbranded product that is offered and thus might purchase it.
A operator is sure to become successful if he overcomes these few challenges that are mentioned above. Planet Antares can help you a great deal while venturing into vending business. All you need to do is to contact their support staff and understand about the business and its needs.
With increasing demand and use of vending machines, several models have been introduced. In 1880 coin operated vending machines were first introduced followed by drop shelf and electronic drop shelf vending machines. Each of these had their own set of merits and demerits. Drop shelf vending machines use was limited to selling just one product at a time. In due course glass front vending machines have been developed.
Glass Front machines from Planet Antares have been a huge success and were able to gain popularity within no time. The reason for increasing popularity of this machine is its benefits. Some of these benefits are mentioned below:
Increased sales: In a front glass vending machine from Planet Antares, customer can see the product which he is going to purchase. Hence it is believed increase sales and draws the attention of passers by.
• Attractive features: These machines come with illuminated motor and pull forward trays that increase the ease of dispensing. They also come with several eye catching features that give complete customer satisfaction.
• Shelf space: A glass front vending machine comes with small shelf space that can accommodate more products when compared to drop shelf unit.
• Customer interaction: Customer involvement is more in a glass front machine when compared to an enclosed one.
• Unnecessary wastage: Glass front vending machines come with electronic tracking which is used to track movement of products. This helps in tracking fast moving products and also prevents wastage.
• Wide choice: In a glass front vending machine, customer has more items to choose from.
• Branded products: Glass Front vending machines are best suitable for selling branded products.
Besides being useful to customers, these machines are also beneficial to its operator. The first benefit being, operator can market more products in lesser shelf space, reduce promotional costs by vending branded products and identify products that have crossed expiry dates. Not only this, operator can easily identify slow moving products and replace them products that have high demand.
From the above mentioned reason it is clearly evident why these machines have become so popular.
