Three Keys to Success in the Vending Business
There are many important aspects of running a successful vending business, but there are really only 3 crucial components that can’t be neglected if you are to succeed in vending.
Listed below are these three crucial keys to success:
1. Find High Traffic Locations.
Like everything in business, your number one key to success is the location. You need to find locations that have either a lot of employees or a lot of customers (or both), and locate your vending machine where they can see it and will use it. I have discussed in other blog posts how to find great locations so I won’t dwell on it now, but I will say that location will be your most important step in running a successful vending operation.
2. Buy the Right Machine at the Right Price.
In layman’s terms, this is called getting the biggest bang for your buck. Buying a vending machine is NOT like buying a new or used car. You can’t just go down to your motor city and test drive a vending machine. Since these are specialty items, most cities don’t have a dealership that sells vending machines locally. The best place to find a vending machine will be on the internet. There are a number of very reputable companies that sell vending machines online and provide technical support and warranties with their machines. At The Discount Vending Store, we pride ourselves in being one of the most honest and fair vending distributors on the market, but we certainly aren’t the only ones. Many companies will sell both new and refurbished machines. Typically the refurbished machines will cost approximately half or 2/3 the price of a new machine. Our refurbished machines have typically been used for only a few years and have received a 34-point inspection and repaired as necessary. They are excellent, quality machines at very affordable prices.
3. Provide the Right Service.
If you treat your customers right, they will treat your equipment right and be loyal to you. For more information on customer service in vending, see my blog post entitled How to Keep Your Vending Accounts Happy If you buy affordable vending machines that work properly and are in great locations, they will typically pay themselves off within the first year of use. The most important keys to a successful vending operation are Location, Price and Service.