Category: Management Tips

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Ready to Vend: 10-Step Guide for How to Start Your Own Vending Machine Business

If you’re considering how to start your own vending machine business and turn it into a profitable side hustle, you’ve come to the right place. Vending machines aren’t just convenient for grabbing a quick snack or drink – they can also be a lucrative business if you know how to set them up correctly. Before delving into the details of this business, here are some reasons why owning a vending machine is an excellent side hustle: 

Passive Income: Vending machines keep working even when you’re not around, generating income 24/7 with minimal effort.  

Flexibility: Manage your vending machines on time, making them an ideal supplementary income source.  

Low Overhead: With no need for a storefront or full-time staff, vending machines offer a cost-effective entry into entrepreneurship.  

Scalability: Start with one machine and gradually expand your business as you become more comfortable and experienced.   

Enter the vending machine business—a lucrative venture that can generate passive income. Imagine owning vending machines strategically placed in busy locations that quietly and consistently generate revenue without demanding your constant attention. When managed effectively, vending machines can become an excellent source of passive income, allowing you to focus on other pursuits while your machines do the work.  

In this blog, we will explore how starting your own vending machine business can transform your financial landscape, becoming that much-needed second source of income. Get ready to discover the power of passive income through vending machines!  

  

Step-by-Step Guide: How to Start a Vending Business  

  

If you are seriously considering starting a vending business, this guide on how to start your own vending machine business could help you get clarity. Also, you can use this to brainstorm and create your project plan.

Step 1: Research and Planning: Any dream should start with a plan. Research the vending industry, understand market trends, and identify potential locations for your machines. Create a comprehensive business plan outlining your goals, target audience, budget, and revenue projections.  

Step 2: Choose Your Niche: Decide on the type of vending machines and products you want to offer. Consider factors like the demand in your chosen locations and the preferences of your target customers.  

Step 3: Secure Funding: Determine the initial capital required to launch your vending business. Explore financing options like personal savings, small business loans, or partnerships.  

Step 4: Purchase Vending Machines: Invest in high-quality vending machines from a reputable supplier like Vending.com. Ensure the machines are equipped with modern cashless payments and inventory tracking technology.  

Step 5: Obtain Licenses and Permits: You must check local regulations and get the necessary licenses and permits to operate your vending machines.  

Step 6: Find Ideal Locations: The best way is to reach out to businesses, schools, gyms, and other high-traffic areas and secure prime locations for your vending machines. Negotiate agreements with property owners or managers.  

Step 7: Stock Your Machines: Source products from reliable suppliers and stock your machines with popular and in-demand items. Consider healthy snacks, beverages, and other convenience items.  

Step 8: Set Competitive Pricing: Determine pricing strategies that balance profitability and customer appeal. Offer occasional promotions or discounts to attract more customers.  

Step 9: Promote Your Business: Utilize social media, local advertising, and networking to promote your vending business and attract more customers to your machines.  

Now that you know how to kick-start your own vending machine business, let us briefly discuss how you can maximize the winning probability.

  

Location – Your Key to Vending Success  

  

Choosing the right location for your vending machines could make all the difference between success and failure—research potential locations’ demographics and foot traffic, which can significantly impact your sales. As we discussed, high-traffic areas like office buildings, schools, and shopping centers offer a lucrative opportunity to reach a wide range of customers.   

When diving into the vending machine business, the key to success is selecting the correct location. Your chosen spot will dictate the type and size of machine you should invest in. Here’s what you need to consider:  

Foot Traffic Matters: Foot traffic plays a crucial role in determining the profitability of your vending machine. Depending on whether the location experiences high or low foot traffic, you must opt for machines that cater to these conditions.  

Low Foot Traffic: Consider compact machines that offer a variety of products suitable for lower customer volume.  

High Foot Traffic: Opt for larger machines stocked with popular items to cater to a larger audience.  

Gyms and Fitness Centers: Focus on healthy snacks and cooling beverages to cater to health-conscious individuals.  

College Campuses: Stock a mix of affordable snacks and drinks that cater to students’ needs for convenience and affordability.  

Stand Out from the Crowd: Location and Competition  

Standing out among competitors is crucial in the industry when considering how to start your own vending machine business. Carefully consider surrounding businesses and competition when selecting your machine type. Here are some tips to stand out from the crowd.  

Custom Vending Machines: Vending.com offers custom vending machines designed to fit your unique business needs. Showcase your brand identity and products with custom wraps to set yourself apart.  

Distinctive Wraps: Set your business apart with custom wraps that showcase your brand and products. Picture a vending machine wrapped in vibrant colors, catching the eye of the crowd and making a lasting impression.  

Accessibility for All: Convenience and Compliance  

Choosing an easily accessible location is essential for your vending machine’s success. Ensure that your machines are ADA-compliant, making them convenient for all customers.  

Upkeep for Long-Term Success  

Maintaining your vending machines is an ongoing responsibility for your business’s long-term success. Regularly restocking products, promptly addressing technical issues, and ensuring cleanliness will keep customers returning.  

Take Your Vending Business to New Heights  

  

We’ve explored how understanding your audience’s demographics and standing out amidst competitors can lead you to success when considering how to start your vending machine business. You’re ready to make a splash in the vending realm by crafting a tailored approach that aligns with your surroundings. Ready to transform your vending venture?

With a wide range of top-tier vending machines and exceptional customer support, Vending.com has everything you need to launch a successful business. If you need any help setting up your Vending business, please do not hesitate to contact us today. Take the first step towards building your vending empire!  

Vending.com - The Best Locations for Vending Machines
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Where to Put Vending Machines: Best Places & Locations

Vending machines are now almost everywhere, offering a convenient and flexible method to enjoy food and beverages on the go. They are automated machines that serve snacks, drinks, energy bars, and other merchandise with easy cash, credit card and mobile payments like Greenlite Vending. Owing to its convenience and easy access to healthy food, a vending machine is a valuable asset that suits various locations. For those looking to increase their income, vending is an exciting industry to dive into, especially with the helpful vending machine financing options available. However, before starting a vending operation it’s important to consider a few critical components when choosing good vending machine locations.

This article will help you better understand how to choose the best places and locations for where to put your vending machines.

Why should you consider locations? 

The location you choose for your vending equipment is a critical component that might decide your success in the industry. You should select an area with a large number of potential clients. Vending is a lucrative industry with passive profits and the best locations are very competitive to get. Many times the locations you want already have a vending operator and other times you may need to persuade the location owner why your vending business will benefit their employees and customers.

The three most important factors for success in a vending business are location, location, and location. 

Finding the best place or location for a vending machine company may be difficult. We don’t want you to buy a machine only to have it go unused. Therefore, securing locations is an important first thought when starting a vending operation.

  • Analyzing foot traffic is vital: Visibility is an important factor to consider in the vending business. Spots with heavy foot traffic and hungry people are good vending machine locations and can be a great opportunity for your vending equipment to make your money. The cornerstone of a successful business is willing customers who want what you’re selling. Therefore, you’ll need to choose locations with a large volume of people who are interested in the products you’re providing.
  • Understand competitors: It’s important to understand that the best way to beat your competition is to provide your clients with what they desire the most. When you are in the vending business, you must master multiple techniques to outperform your competitors successfully. We recommend assessing the competition in your area using the following criteria. 
    • Condition of machines 
    • Easy payment options 
    • Product selection 
    • Service quality 
    • Price point
  • Business contract with property owners: It would be fantastic if you could plug a vending machine into any available location and start selling. However, consent from property owners and a contract is required to deploy your equipment without any hassles. To cover costs, company owners may request a fixed monthly rental rate or a percentage of earnings, depending on their specific circumstances. 
  • Product offerings must match your location: A great way to provide great customer service and increase your profits is to meet the needs and desires of the people at your locations. Don’t hesitate to do research and ask the location ownership what they want to see in the machines. Providing a balance of snack and drink offerings is important too. It’s common for people to want a snack to go with their drink purchase.

Most Common locations for Vending machines :  

  • Amusement Parks
  • Apartments  
  • Banks  
  • Business offices  
  • Bus stations  
  • Bookstores
  • Factory break rooms
  • Fire stations
  • Gyms   
  • Golf course lounge and other sporting spaces   
  • Healing & wellness spaces  
  • Hotels   
  • Industrial parks   
  • Libraries   
  • Manufacturing plants   
  • Nursing homes
  • Office break rooms   
  • Schools   
  • Railroad stations   
  • Shopping centers
  • Universities   
  • Tourist places   
  • YMCA

Here are the few best, most profitable places and locations for a vending machine to consider.

Schools and universities: Snacks and beverages are appealing to young folks no matter where they go. They often want to satisfy their cravings after a full day of activity.  Why not place a machine where they all congregate? Vending machines on a university campus are perfect for the on-the-go lifestyle or sit back and chill lifestyle of most college students.  

Apartment Complexes: Apartment complexes are densely populated with many occupants and frequently lack dining alternatives. Having a 24-hour vending machine on-site is a great way to find potential customers where they already are and provide snacks and drinks they want so they don’t have to travel to the store. You can sell almost anything from this location, including magazines and newspapers, bread and frozen foods, or hot and cold beverages.  

Office buildings: Customers who don’t bring their drinks, snacks, or lunches have options thanks to vending machines. How many times have you been too lazy or too hurried to bring food from home? If you’re considering putting your vending machine in an office building, evaluate whether the facility has other food available and how much it costs. You have the chance to make a significant profit if you are the only vending machine in the building or if there aren’t many proximity choices for food or drinks.  

Healthcare Facilities: If you are looking for the best vending machine location, try placing your vending machine in hospital lobbies. In addition to being a venue that welcomes visitors frequently, it is also one that is highly secure. Healthy Snack vending machines are a great addition to healthcare facilities for visitors and caregivers to have access to food and beverages whenever they need them.  

Gyms/Fitness centers: Strategically placing a vending machine in a fitness facility lobby is especially effective if you stock it with exercise-related products. Consider equipping your machine with water, sports drinks, nutritious snacks, and protein bars.  

Automobile repair centers: A car dealership is always open and has a lot of foot traffic. These are places customers have to wait, linger and may be more tempted to pass the time with a snack. The sales, technical, and service staff can also rely on vending machines for quick access to food and drink.  

Hotels: Hotels and motels are excellent places to install any form of vending machine to draw customers for spontaneous or regular snacking. Most hotel guests are away from home without their kitchen to tempt them, so why not do it with a vending machine? A hotel lobby is an excellent site to install a vending machine. Most hotels are open to working with anyone who wants to place a vending machine in their lobby.  

Your one-stop shop for all your vending needs: Vending.com 

The vending business can generate a significant profit only when you find exceptional locations. However, identifying and securing good vending machine locations can be challenging. If you need assistance determining the best suitable locations or are looking to start a new vending machine business, experts at Vending.com can help you with the right vending solution. For more information, reach out at 1-855-929-1042 today. 

 

 

Vending.com - Factors To Consider Gaining Happy Customers
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Factors to Consider Gaining Happy Customers

Customers today have more information, needs, and power than ever before, and marketers must strive to live up to their expectations to provide a better customer experience. Customer happiness, like customer engagement, is a vital measure of success nowadays. While brand recognition has long been a marketing goal, implying one-way, business-to-consumer broadcasts, customer engagement suggests the growing importance of more intimate connections through two-way interaction. These connections result in satisfied consumers and simply making your customers happy.

Low levels of customer satisfaction imply that your retention rates will be low as well. According to Kolsky’s research, just one out of every 26 dissatisfied consumers reports. More significantly, 91% of unhappy consumers who do report a complaint vanish. You can afford to lose 91% of your unhappy customers with that in mind. Based on consumer insights, you may optimize the customer experience, boost customer happiness, and increase retention rates. Continue reading to discover low customers and obtain more happy customers.

Let us consider an example: When a consumer has a problem with the machine, where can they go to file a complaint? For a refund of their funds? For the item that became trapped in the machine? They sometimes direct their anger at the device, causing damage to the engine and the surrounding space, such as scratching the floor or destroying the walls. Vending machine sales may suffer as a result of this discontent. 

Here are some simple steps to enhance customer service and boost vending machine sales.

What can a vending business do to improve the customer experience and vending machine sales without consumers’ feedback? There are specific techniques to follow to enhance the customer experience. These are best practices followed by reliable vending business experts like Vending.com.

Make Sure To Address Complaints Immediately: There are various ways to achieve this, but the easiest is to maintain at least some contact information on the devices. Customers may contact suppliers and report any difficulties using a phone number or email address. Vendors can also employ call centers to manage complaints after hours. Customers would feel better, and vending machine profit would increase if suppliers responded quickly to complaints. At Vending.com we make our customers feel valued in realizing that their opinions matter and that their business is appreciated. 

Always keep your machines in perfect working condition: If consumers have frequent issues, such as the bill validator not accepting their money, resolving the issue is important to maintain customers returning to your vending machine and increase sales. People are not interested in buying products from vending machines if they have difficulties with them. Although supporting devices in perfect working order and keeping them clean takes effort, attracting consumers to visit the machine and purchase items is worthwhile. Even if it means completely replacing a vending machine, providing consumers with a comfortable experience goes a long way toward enhancing customer happiness and vending machine sales.

Maintain closer relationships with the contact person (POC): To cite an example, there will always be a point of contact for vendors and route drivers at office buildings, residences, and hospitals. This individual will collect consumer complaints, take down names of persons who require refunds and keep track of issues with the equipment. They are doing free services for the vendor. Maintaining a positive relationship with this person will improve their experience with the vendor. Suppose a vendor notices that a customer is unhappy since they have spent too much time receiving complaints about a machine. In that case, they should offer them a beverage or snack as appreciation. These are ways vendors may improve the customer experience, encourage customers to return to vending machines, and boost total vending machine revenue.

Final Thoughts: When improving your customer service and boosting brand satisfaction, there are various factors to consider. To simplify things, we recommend that you follow our suggestions, but don’t limit yourself. You can master your company’s customer service using various innovative methods – and you should never stop if you want to be the best-loved brand in the world.

Vending.com offers full service programs that help the first time owner-operator just getting started in the vending business or the seasoned vendor-operator looking to expand a growing business. Be a part of the rapidly growing vending industry with Vending.com. Our vending experts are standing by to help with your questions call us at 1-855-929-1042.

vending.com blog - Why Vending Machines Should Be Allowed in Schools
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Why Vending Machines Should Be Allowed in Schools

Students don’t always have enough time to have a balanced breakfast or lunch at home or during the school day. This is just one of the reasons why vending machines should be allowed in schools. Luckily, vending machines from Vending.com provide a quick option for a needed snack. Plus, providing healthy and nutritious options may be the only way some students are getting the right nutrition throughout the day. Students and teachers may receive nourishment from snack vending machines by purchasing their favorite snacks in the middle of the day.

The benefits of vending machines may provide a unique element to your school or organization with innovative, low maintenance vending solutions readily available. Convenience and accessibility are the key benefits of vending machines. Choose customized vending machines from a reliable provider like Vending.com that offers food, snacks, or combo machines. For a healthier lifestyle, choosing more healthy alternatives is a must, along with options and selections that are unique for your students and staff. It helps users save both time and money. The icing on the cake is that there are no hidden costs.

How beneficial are vending machines in schools?

This is a topic that has sparked several debates throughout the years. We know that some people favor the concept while others are against it. For instance, parents are nervous that their children may engage in harmful eating habits. Most people believe that vending machines exclusively sell high-fat and high-sugar foods. This isn’t the case, according to a CBS News report. According to the findings, the United States government issued a mandate through the Department of Agriculture requiring vending machines to offer healthy, smart snacks rather than junk food. Since the regulation was issued, Frozen Food Vending Machines have provided healthier options. 

  • Vending Machines Provide Nutritious Food:

Some vending machines could sell gum, candy bars, potato chips, cookies, and other products liked by children. Schools may choose the 40 Selection Snack Vending Machine from Vending.com that has a high-capacity to accommodate multiple nutritional foods, such as string e, carrots with hummus, dried fruit, milk, yogurt, veggie fries, and more. This can provide a healthy diet for kids and therefore improve each student’s learning environment. Fresh fruits and vegetables available as snacks in schools is believed to go a long way toward building a healthy school food environment and improving nutrition that will impact the rest of their lives.

  • Promotes Healthier Eating Habits Among Students:

Consuming low-quality foods every day might lead to a lack of learning chances, but so can hunger. If a student is more concerned with the fact that their stomach is growling than with the points in the classroom, their grades will suffer over time. One of the benefits of vending machines in schools is that they allow students to satisfy their food cravings while keeping their attention on teachers and classes. Affordable pricing is crucial, so many schools either engage with local vending services to reduce expenses or acquire the necessary equipment themselves. Schools may also procure affordable used vending machines that are certified from Vending.com.

  • Vending Equipment For Non-Food Applications:

The discussion about vending machines in schools frequently revolves around the quality of the food accessible to students. Today, supply dispensers may be utilized for many purposes, such as providing students with pencils, pens and notebooks to ensure they don’t skip a beat in the classroom. Everyone profits when the school population has high levels of satisfaction. Vending machines increase the school’s revenue while providing students and their parents or guardians with access to the products they need for a successful school day.

  • Equipment Increases Employee Satisfaction:

When students and faculty on the school campus are happy and healthy, the results in each classroom are increased. Multi-purpose vending machines ensure that everyone’s fundamental requirements are met is a slight but significant morale booster that should not be overlooked. People who have easy access to products they desire or feel personally cared for make them comfortable. Also, they are delighted when they witness that their objectives are a priority and the administration is striving to help them in various ways.

Final Thoughts

In being allowed in schools, vending machines can provide students with almost everything they want and should have in a healthy and organized manner. It offers a variety of food and product options that assist students and staff in being focused and productive in their academics. Now that we’ve heard about the numerous benefits of placing vending machines in schools, it’s time to act. Contact Vending.com today If you’re looking for a vending machine for sale to enhance your school’s convenience and accessibility, now is the perfect time to buy a vending machine from Vending.com, ensuring students and staff have access to nutritious snacks and essential supplies. Call Vending.com at 1-800-548-1982.

Vending.com - Growing Your Small and Medium Business With Vending Machines
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Growing Your Small and Medium Business With Vending Machines

There are various benefits to owning and managing a vending machine business. Being your own CEO and creating your own schedule without depending on anybody else could help you maximize profits. Once an individual starts a vending business and becomes successful, they will want to expand it in order to increase their income and enjoy the profits.

Vending machines sell everything from beverages to chocolate, candies, and gourmet snacks. These machines can be found almost anywhere, including the workplace, travel destinations, or other public gathering locations. The National Automatic Merchandising Association reports that 18% of vending machine operators make between $1 and $4 million per year. At present, it is a $42 billion sector that could be pretty successful for anyone looking to expand their own company. 

Whether you have a vending machine business or you want to start one to help grow your small business, here are some pointers to assist you in expanding:

  • Amp up existing products: Increasing the quantity of vending machines is a good idea. Finding out what items will complement your current developments is a good start. Suppose you already have vending machines that sell hot meals or snacks. In that case, it’s a great idea to add vending machines that sell cold beverages. Consider things from the users’ perspective and you’ll come up with a slew of brilliant ideas. 
  • Upgrade your vending machines: Vending machines have incredible technological developments. Purchase the latest vending equipment from Vending.com that has the most vending machine models for snacks, cold drinks, refrigerated and frozen food, coffee and other hot beverages. All products are equipped with enhanced technology, such as touch screens and cashless solutions, to attract even more customers and everything you need to start, expand, or manage your vending business.

Many users prefer cashless vending machines. Installing vending machines in strategic locations is a brilliant idea. When you purchase a vending machine from Vending.com, you can be confident that you are in safe hands. Vending.com offers a trustworthy business concept to help you create your own vending business or to employ machines to help grow your small business, with over 90 years of expertise in the vending industry.

  • Consider Proper Service and Maintenance: To enhance your revenue, keep your machines in perfect condition. Machines must always be cleaned and stocked with supplies, and, depending on your location, they should be refilled twice a week. To avoid losing potential buyers, you must also check that the machine is in good operating condition. When you buy vending machines from Vending.com, you get the prompt maintenance support and technical experience to keep your vending machines running smoothly. Its well-stocked parts department can ship components anywhere around the world quickly and reliably.
  • Change locations: In addition to improving existing vending machines, look for new places where vending machines can be installed. Your search should be completely objective, taking into account customers’ demands and purchase patterns. You may come across areas with many passers-by, but if they don’t buy, your investment and upkeep costs will go down the drain. 
  • Choose Appropriate Locations: Like any other retail business, a vending machine’s location is critical to its success. Locations should correspond to the things you offer. The products you choose should be appropriate for your location and traffic. Even the most popular products may not sell in a crowded place if the target market is not relevant.

If you find an opportune location, but notice a vending machine is already there, do not fret. Get a feel from the location manager about their vending service. Are they satisfied with the service? Is the current machine outdated? What can you offer that they are not receiving from their current vending operator?

  • Increase the Machine Lineup: Once your vending machine business is up and running, expand your inventory and supplies to match client demand. You might also want to purchase a new machine but ensure you use your profits for purchase. However, if you want to save money for the future, you may procure a used vending machine from Vending.com.
  • Enhance Your Product Variety: You will not get your desired results with only a few candy or soft drink selections. You must provide a wide range of products. Customers will flock to you once you begin supplying the products they truly crave.
  • Make the Most Out of Advertisements:  Advertising is a fantastic strategy to inform potential clients about your vending business. You will not gain the profit expected if your target clients are unaware of your vending machine and the products available.
  • Make the most of your advertisements by incorporating visuals of vending machines and details regarding their locations. Vending.com can help you create a custom vending machine graphics or wrap that is unique to your company and location. Customers can directly collaborate with the marketing team to design, print, and install a customized graphic or advertise on the touchscreen that will help significantly boost profit.
  • Secure Referrals: If you want to grow your small business or your standalone vending machine business, make sure you deliver exceptional service. Regular consumers are more inclined to recommend your services to others. Word-of-mouth is the most effective and efficient form of advertising.

 

The Bottom Line

You want to grow your small business and boost your profits as an entrepreneur. It is only feasible if your approach is objective and logical. Always consider the user’s viewpoint so that you can provide them with what they demand. Having an eye on the latest trends and developments lets you upgrade your vending machines periodically.

Scaling up, however, does not determine the success of the vending machine. You must make improvements to match your customers’ cravings. The vending machine business offers excellent earning potential. Still, to achieve that potential, you must follow best practices.

For additional information, give Vending.com a call at 1-800-548-1982.

Vending.com - Operator and user safety in vending machines
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Operator and User Safety in Vending Machines

The Mysterious Case of the Great White Shark Vs. a Vending Machine

The origin of this statistic is unclear, but the most famous quip about safety in vending machines is that they are 4 times as lethal as the great white. We can be sure that neither was thrown into a gladiator’s ring to compete against the other, so we may never know how accurate this claim is. The most likely source of this is a research report published by the Consumer Products Safety Commission (CPSC) in 1995. This report states that between 1978 and 1995, 2.2 people were killed by vending machine-related accidents on an average per year [1]. This is not an isolated report. National Electronic Injury Surveillance System (NEISS), a unit of CPSC, published a similar piece in 2015 to claim that the number is around 4 per year [2].

Vending machine safety incidents do not just impact business continuity for your vending business. It is a fiduciary responsibility to ensure the safety of vending machine operator and users. The good news, though, is that it is often how the machine is used that causes the incident. Not the machine itself. Manufacturers are using technology to make machines safer. Vending.com takes safety seriously, ensuring that standards are complied with and features added that ensure the safety of our customers, end-users, talk to us to know more about how we ensure this. 

Government institutions regulate the market to ensure that manufacturers are incorporating safety features. You can consider a few simple factors as a vending business owner to ensure that your operators and users have safe interactions with the vending machine.

Operator Safety

Vending machines are electro-mechanical equipment. Vending machine operators need to handle machines with necessary care and caution as they would handle any electrical appliance or equipment. Machine installation may be the most vulnerable point for potential incidents for the operator. Even that can be avoided by adhering to the installation process, using the right equipment, and wearing necessary protective gear. Once set up, operators will use the machine to program them, collect cash, or load new stock. There are well-defined vending machine safety user manuals that ensure that incidents like instability or electrocution are avoided during these tasks. Using suitable material handling equipment like mechanical, hydraulic, or electrical forklifts can prevent stock collapse and reduce operator fatigue. Vending.com equips all machines with the usage, service, maintenance, and troubleshooting literature to ensure a smooth experience for operators. Factory direct warranties, parts and service, as well as financing services are their expertise. Vending.com offers full-service programmes that assist first-time vending business owners as well as established vending business owners looking to expand their existing operations.

User Safety

The most common reason for safety-related incidents in vending machines is machine abuse. When delivery fails, some users kick, nudge, or even rock the machine. This can result in the machine tipping over. Vending machines are made of metal and glass, making them anywhere between two hundred pounds to eight hundred pounds, depending on the configuration and features. A fully loaded vending machine will weigh a few hundred pounds more. Mishandling the machine can make this come crashing down on the user. Damage to the machine legs or the floor surface can also lead to instability. Electrostatic charge accumulation is another cause of safety hazards. It might appear like these incidents can be avoided only through better user behavior. While that is true, the machine operator can ensure no clogging in the machine’s vending machine that can potentially frustrate the user. Manufacturers like Vending.com also uses technology that guarantees reliable disbursal of merchandise, contact us to know more about our iVend technology. Choosing the merchandise with suitable packaging is another important factor in ensuring proper disbursal.

Vending.com has a complete vending catalogue that can be customized with your company’s logo and colour scheme. It offers clients all around the globe a high-quality, state-of-the-art full-service vending experience with the widest range of safe and easy-to-use vending machines.

Ensuring Safety for Your Vending Machine

    • Timely Maintenance – Regular maintenance of the machine makes it function to specifications. It can also help vending machine operators discover potential safety hazards before they cause an impact. The refrigeration air intake mechanism, the coin and cash handling units, the collection tray, or any other part of the machine where transaction failures can happen need to be checked. Vending.com helps you with the timely maintenance, repair, and service of your vending machines.
    • Harnessing Technology – Using technology like Guarantee Vend can prevent machine abuse by some users. This will, in effect, help reduce the chances of tip-over. Modern machines have UV-based surface sanitation systems like UVend. They help reduce the spread of contagious diseases when users touch frequent contact surfaces.
    • Right Parts – Using manufacturer-authorized spares and supplies is an excellent way to eliminate uncertainties in machine performance. Spurious parts will not only reduce the life of the machine but can create safety issues. These parts are seldom tested and certified by regulatory agencies for your vending machines. Choosing to partner with a reliable partner like Vendnet offers the benefit of a fully stocked parts department that is committed to delivering components quickly and reliably anywhere around the world.
    • Finding the Right Machine (Compliance with Standards and Regulations) – Selecting certified machines for safety is a fundamental responsibility of the vending machine provider. It helps avoid accidents and wins the trust of the end-users. UL, FCC, and CE are good examples of standards that vending machines need to comply with. Vending.com offers a complete range of certified vending machines to fulfil all of your vending requirements. Location assistance is also included in the package.
    • Reliable Manufacturer – Vending machine manufacturers who have a lasting presence in the market have a lot of knowledge gained from years of research and addressing field issues. Fly-by-night operations do not bear the burden of long-term care for machines or users. Established players have a reputation to defend and, above all, a genuine interest in the welfare of the market that they serve. Which is where Vending.com with our 90+ years of experience, market leadership, and stability comes into the picture.

Conclusion

Vending machines are safer to operate or use than several other machines. But that does not diminish the responsibility of vending business owners towards deploying safe machines. Thankfully, that is not a difficult decision to make. A set of simple tasks like timely maintenance, use of approved parts, selecting the suitable machine, and buying from reliable manufacturers can make your vending machines an enjoyable and safe experience for everybody.

 

Vending.com bears a 90-year legacy in providing safe vending solutions. Our R&D team has tested and validated our machines for the necessary safety standards. To learn more about the safety of our machines, can talk to us at 1-855-929-1042 or visit us at www.vending.com.

 

[1] https://www.cpsc.gov/Newsroom/News-Releases/1996/CPSC-Soda-Vending-Machine-Industry-Labeling-Campaign-Warns-Of-Deaths-And-Injuries

[2] https://www.cpsc.gov/s3fs-public/2019_NEISS_Coding_Manual.pdf

[3] https://medium.com/purple-theory/vending-machines-vs-sharks-3e2362d762fa

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Posted on | by pmasters@wittern.com | Leave a Comment on Finding the best location for your vending machine

Finding the best location for your vending machine

At the cost of sounding cliche, the top three of the five most important factors for success in the vending business are location, location, and location. It won’t be surprising if the other two are location too. Winning the best location for the vending machine is the first step towards monetizing the capital investment made on the machine. It influences critical business metrics like sales, profits, and average revenue per user. Choosing a poor location for a fancy piece of vending equipment is like keeping your gold in the bank and paying rent for safe keep. It is not only a poor use of your asset, but it also burns more cash for the upkeep. Incidentally, you could check out Vending.com’s profit calculator to simulate your earnings.

Need for a new location

Vending businesses are always looking for new vending machines and the best locations to place them in. The location is where their business starts generating returns or cash. Each vending business owner has their own drive to expand or enter a new location.

  • Starting a new vending business

Vending is a lucrative business with low barriers to entry. Vending machines are easy to use, not too expensive, and quick to generate returns. First-time investors of the vending industry who are looking to save for a rainy day are hungry for new locations. Location owners prefer working with them as long as they are in for the long haul. Vending.com has a specialized focus on helping entrepreneurs becoming successful.

  • Expanding to a new location

Vending machine owners who are already in business are also looking for opportunities to expand. They often start close to their base of operation and slowly expand to adjacent locations.

  • Choosing the right location for maximizing growth

Businessmen who are trained hands at the vending business always seek to maximize growth. If they identify an open opportunity in a high-growth locality that can benefit from the convenience of a vending machine, they pursue it. This adds to the race for space. Our earlier blogpost covers this area.

  • Diversification of risk

Veterans in the business are not only hungry for growth but are also keen to reduce risk. Betting on one or a few locations is like putting all the eggs in one basket. So, they often try to find new localities to place their equipment with diverse demographics and preferences. This helps them tide over challenges due to lagging demand in the areas they already operate in.

Selecting the right location

Newbies and veterans alike are hunting for that attractive bit of real estate where their vending machines can serve more and more customers. But not all places have the same level of earning potential. Successful vending entrepreneurs carefully select the ideal spot for their machines and then go all-out to win the location. While there is no clear definition for the right site, common sense and meticulous consideration of certain influencing factors can help get the best location deal. Some of them are discussed below.

  • Traffic volume

All said and done, like all other retail businesses, vending is a numbers game. The more the number of transactions, the faster is the recovery of capital employed. The machine should be placed in spaces where there is a good level of foot traffic. Public spaces, offices, schools, and other public places are good examples of a good volume of user traffic. These locations often generate the most per-machine revenues.

  • Traffic quality

While the volume of transactions driven by high foot traffic is essential, the kind of traffic also plays an important role. The vending machines in the lobby of the office of an investment bank will have users with high disposable income. The average price per transaction will be higher than a school where children deal in “small change.” This also allows adjusting margins depending on where the machine is located. A good example would be when the same water bottle costs more in the office than at the school.

  • Competition

Competition in the vending business is a necessary evil. When the location you are pursuing has been hosting a competitor for a long time, the competitor continues to enjoy good sales. But it also means you will have to fight harder. Fight harder with the location owner for placing the machine and then fight harder for the wallet-share of the consumer who visits the place.

There are also advantages to placing the machine where there is competition. It is relatively easier to price suitably for the location without experimentation. A common trick is to price the competitors’ product brands at lower levels in your machine and price your unique ones at higher margins. Eventually, in a location with fair competition, the prices of all vendors settle down to similar levels. Then the differentiator is through the quality of products, availability, and the quality of the machines used. This is also an opportunity to showcase and grow your brand’s identity and recall value, and Vending.com’s marketing has the precise support that helps with this.

  • Merchandize

The merchandize that is sold in the machine also varies as per the location. Protein shakes sell almost exclusively at the gym. There is very little chance that an office employee will shell out change for a protein shake at the cafeteria. Potato chips at the gym might only the serve the purpose of testing the resolve of the patrons. They may fly off the racks at a school or a park though.

  • Type of Vending Equipment

It might come as a surprise, but what machine you choose will also depend on your location to place it. The table below shows how certain types of machines will suit almost all the locations, while others fit only a few.

Location Combo Vending Machines Drink Vending Machines Snack Vending Machines Frozen Food Machines Coffee Vending Machines
Schools and Universities ✔ ✔ ✔
Offices ✔ ✔ ✔ ✔
Hotels ✔ ✔ ✔ ✔
Shopping Centers ✔ ✔ ✔
Hospitals & Care Centers ✔ ✔ ✔ ✔
Government Offices ✔ ✔ ✔ ✔
Transport Service Centers ✔ ✔ ✔ ✔ ✔
Gyms ✔ ✔ ✔
Manufacturing Facilities ✔ ✔ ✔ ✔

Conclusion

Vending business owners can consider work half done when they have scored the best locations for their vending machines. From there, it is just making them rain.

Experts at Vending.com can guide you to get your new vending business off to a flying start or race ahead of the competition. To know how to pick the best vending machines for your location or suitable locations for the equipment you have in mind, talk to us at 1-855-929-1042.

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Posted on | by pmasters@wittern.com | Leave a Comment on Ways customer service influences your vending business

Ways customer service influences your vending business

“I’ve learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” 

– Maya Angelou – Poet, memoirist, and civil rights activist

Certain sayings have a great deal of wisdom hidden in them that resonates with us. What makes them great is how they remain true across time. We all must have heard the above Maya Angelou quote in some variation or another, and this holds for customer satisfaction, which in turn drives sales success.

Customer Satisfaction = Customer Service + Customer Experience

A particular study by Oracle® found that 86% of the surveyed consumers were willing to pay more for better customer service. The link between customer satisfaction and sales success is well-documented.

Though there are multiple definitions based on context, we could safely take the following equation as the simplest canonical form: Customer Satisfaction = Customer Service + Customer Experience. 

Customer satisfaction is a combination of aspects that are in our control, 

  • Vending customer service, the tangible aspects such as a well maintained and stocked machine, ensures full marks
  • Customer experience, where the intangible elements, such as aesthetics or a contactless and cashless experience, come into the picture.

At Vending.com, our machines cover both aspects. 

Quality of Customer Service

Vending customer service is key to gaining repeat customers and growing your business.

Stock availability

More product selections translate to more sales. Our combo vending machines, for instance, vends multiple product types and has a flexible and high storage capacity.

Ease of Use 

The customer does not like coin jams, bills returned, glitchy interfaces, or faulty buttons. The customer depends on the vending equipment to save them time while servicing their needs.

Safety

Vending equipment is a substantial piece of machinery. As rugged and handsome as they are, they still need to be grounded, balanced, and suitably located to stave off any possibility of injury. In today’s environment, sanitization of high contact surfaces are also non-negotiable. Check out our UVend Technology that provides a safer vending experience for customers.

Quality of Customer Experience

Customers are the cornerstone of your success. Focusing on the below areas will help in maintaining and optimizing the quality of their interaction with your vending business.

  • Ease of accessing information: We are living in a mobile-first consumer environment. Your customers are used to responsive touchscreens with strategically located useful information. They expect no less from their food, snack, or drink vending machines.
  • Technology
  • Cashless: Again, the focus is on a seamless interaction. One where mobile and card-based payment systems increase convenience for the customer. Our offerings are equipped with the latest payment acceptance systems. Additionally, in some cases, these offerings can be retrofitted. We recommend contacting your sales representative for more information.
  • Contactless: Unattended retail is growing. With this, our machines are equipped to make the entire user-machine interaction contactless, from product selection to payment to delivery. We ensure a no-touch experience to the end-users. 
  • Aesthetics – The Where, How, and Wow of Product Placement
  • Planogram: Out of sight, out of mind. We do not want visibility to affect your sales. Our in-house experts help you plan the positioning of your best-sellers. This ensures customers do not turn to another machine just because they could not spot the snack they wanted.
  • Lighting: Visibility is one thing. Viewability is another. Vending.com machines have strategically placed LED bulbs that enhance merchandise viewability.
  • Design: The where and how of product placement is covered, and now we come to the ‘wow.’ Depending on the audience targeted, a good design helps you get extra sales. Vending.com helps you convert your branding goals or your marketing ideas into visual graphic wraps. 
  • Alignment with/cognisance of customer philosophy
  • Accessibility: Patrons will range from children or elderly or the differently-abled. As such, our machines are all ADA compliant or ADA ready.
  • Sustainability: Consumers are now more aware than ever of the environmental impact of their purchase decisions. Vending.com has always been at the forefront of creating or in the early adoption of energy-efficient practices. Our machines are ENERGY STAR® certified. We constantly innovate through engineering and sourcing to keep the toll on our environment to a bare minimum.

We have ensured client success throughout our decades (90 years) of experience in delivering automatic merchandising equipment by helping our clients provide great end-user service and constantly optimize the end-user experience. We deliver thanks to our consistent focus on innovation and dedicated and exhaustive service, maintenance, and repair.

Making Vending Machines Your Best Salesperson

With a vending machine, there is an opportunity to provide standardized vending customer service and a quality customer experience to ensure more repeat sales and increased customer loyalty.

At Vending.com, we focus on making our machines a delight to use. We incorporate customer feedback and industry trends into our R&D. Connect with us to know more about the features and machines that will drive more vending sales for your business at 1-855-929-1042.

Vending.com
Posted on | by pmasters@wittern.com | Leave a Comment on Be Mindful of these Pitfalls When Purchasing A Used Vending Machine

Be Mindful of these Pitfalls When Purchasing A Used Vending Machine

The Pros and Cons of the Used Vending Machine Business

Did you know that as of 2022, the US has roughly 5 million vending machines? According to the industry market research firm IBIS World, the vending machine industry generates close to $8.9 billion in annual revenue. About 67% of this market comprises small independent operators selling snacks and beverages and making small margins. For most vending machine owners, it is primarily a side hustle.

Vending is a booming business, and starting one is not very difficult. The vending business is a constantly changing and evolving industry. It provides an excellent opportunity for all kinds of entrepreneurs, whether you are a novice or a seasoned business owner. The range of products that can be offered to your customers is vast. The most common and popular items being sold are snacks, candy, and beverages like soda, water, and coffee.

Used vending machines generate profits quickly with a low initial cost

If you are new to the vending business and would like to try your hand at it, then an easy way to start your own vending business is to buy used vending machines. A used vending machine will typically cost a fraction of its brand-new unit. You may also chance upon a used vending machine that has barely been used.

While experimenting with new locations, a used vending machine can be a good choice. If you are operating with limited resources, used vending machines may be the way to go. Many such use cases get you started on a used machine and earn the capital required to invest in a brand-new device.

There are many kinds of used vending machines available in the market today. They sell a variety of merchandise, from sodas or general snacks in malls to travel electronics like headphones or phone chargers in airports. You can also buy COVID-19 essentials like masks and sanitizers from vending machines in hospitals and public spaces like malls or theaters. Picking the right product and pricing it right will help recover the capital invested in buying your used machine.

Important aspects to consider before purchase

A used vending machine might seem like a cost-effective choice to jumpstart or expand your vending business. There are a few important things, however,  to consider before buying one.

There are business pros and cons when investing in a used vending machine. The right price, the suitable model, long-term reliability, value over investment, etc., form the cons. Vending.com ensures that these cons are handled and converts them to advantages.

  • Warranty –
    • Con  – Used vending machines come with no warranty, unlike new ones. 
    • Pro – Vending.com “factory refurbished” and “certified used vending machines” do come with a great price and limited warranty
  • Financing- 
    • Con – purchasing a used machine most likely will be a cash-only transaction, or you may have to take out a loan. 
    • Pro -Vending.com has a few attractive financing options that have been designed for entrepreneurs and their cashflows in mind.
  • Number of Features
    • Con – Used vending machines are generally older models. Legacy units will not have the latest features and technology like contactless transactions. They may not be equipped to accept card payments, thus limiting the number of customer transactions. 
    • Pro -Vending.com has the expertise and parts catalog to address this.
  • Hidden expenses –
    • Con – Used machines may work perfectly fine initially, but as they near end-of-life, their mean time between failures becomes lesser and lesser. While the cost of repairs will be a factor considered, the more significant aspect would be the lost revenue from sales. 
    • Pro- Vending.com’s one-year factory warranty and Vendnet’s 90 years of vending experience ensure your machine operates with no problems. 

When purchasing a used vending machine, it’s always a good idea to inspect the vending machine in person. If Tinder taught us anything, it is that profile pictures are often overrated.

  • Seeing is believing. Check if there are any physical damages like scratches or dents. It is relatively easy to improve the external appearance of the machine. If there are heavy dents, it is better to take a closer look at the circuit boards and refrigeration systems before moving ahead with the purchase. You should ask for the machine’s original manual and schematics and whatever proof of service the seller has at hand
  • If you are buying a vending machine for dispensing cold beverages, check the compressor thoroughly. Insist on starting the machine a couple of hours before you arrive. If you have a gas leak detector, do not forget to take it along. Freon-based coolants like R232 are relatively easier to detect with their distinct smell. It is the propane-based ones that are difficult to spot without a detector. It is better to look for better options if the compressor does not inspire confidence.
  • Check the bill acceptor and coin validator. Test it to make sure it is not malfunctioning. No one wants to use a vending machine that simply eats up their money and dispenses wrong items or nothing at all. You could also retrofit a card reader or cashless payment system to the machine. If the bill acceptor or coin validator is glitchy, ask for a discount in the asking price that will help you retrofit one from Vending.com.

 

The kind of used vending machines you buy can influence the pros, cons, and ultimately the success of your vending business. Getting a quality machine will save you lots of money and time while maximizing revenue-generating transactions. Purchasing your vending machine from a reliable company can help eliminate uncertainties and risks. Vending.com has a wide range of factory-direct new and used vending machines that are manufactured in the USA. All machines have been factory inspected and remanufactured to look and operate just like new vending machines. 

When buying your vending machine from Vending.com, you can rest assured that you are in good hands. With over 90 years of experience in the vending industry, Vending.com offers a dependable business proposition to help you build your own vending business.

Vending.com offers affordable used vending machines that are factory refurbished and certified.  Call 1-855-929-1042 today for all your vending needs.

V.COM-March Blog
Posted on | by pmasters@wittern.com | Leave a Comment on Snacks, Drinks, Frozen Foods, or Combo – What Would Give You More Vend Sales?

Snacks, Drinks, Frozen Foods, or Combo – What Would Give You More Vend Sales?

The product decides the machine.

A vending business is a reliable source of revenue, if you do it right. Even if you are not a mainstay vending business owner, an additional revenue stream from a vending machine gives you the liberty to pursue your passion. It helps you save money for a rainy day. The first step towards getting a steady flow of revenue is by choosing the right product to sell and the machine that vends it, in that order. It is important to remember that while people interact with the machine, it is the product that they consume.

First-time buyers often tend to focus more on the vending machine for sale than the best products for those vending machines. The product is a bigger capital investment than stocking the machine. They tend to pay less attention to the fact that revenue and profits come from the product you stock and sell. So, choosing what you want to sell takes precedence over the machine you use to sell it. Let us discuss how to select the right product that will give you the best results.

Factors to consider

The most obvious factor influencing your decision on the best products for your vending machines should be user experience. Your consumers should get the best satisfaction by buying from your machine. The best experience comes from the product they want to buy and the machine they interact with. So, the product you sell and the machine you use should be of the best quality and at the right price point. These two factors are applicable to what product you choose to sell. Other factors are influencing the selection of the product you choose to sell, however, like the ones below.

  • Volume: Some products sell in higher volumes than others. The higher the number of transactions, the better the returns on investing in a vending machine. Water bottles and beverages constitute more than 56% of the sales through vending machines[1]. They are universally sought staples and can also generate a decent margin[2]. Moreover, vending machine products are generally impulse buys. This means while users start transacting to buy a water bottle, they can get interested in a bag of chips or an energy bar. So, high-volume products increase the chances of up-selling and generating more revenue per user.
  • Profitability: Certain products can fetch a higher margin than others in your vending machine. While the same product may not have the best profitability everywhere, there are certainly some sweet spots. There is statistical evidence from a survey showing that the humble water bottle scores high on the profitability scale. Fruit snacks are a close second[2], but again, these are statistical averages. While your water bottle might get you good profits at a gym, sugary drinks and candies might earn big bucks at an amusement park. That takes us to the next factor you need to consider while selecting the right product to sell, the location.
  • Location: The location of your vending machine can significantly influence what sells and what does not. The volume of traffic, the spending power of the traffic, and the need for convenient access to supplies are all dependent on the location. Outdoor vending machines with cold beverages at a summer fair can be a bigger attraction than the rides. Cold sandwiches might fly off the machines at the factory cafeteria. Protein shakes are more likely to be bought at a gym than most other places. Location not only defines what sells but also how much of it. Some vending enthusiasts place so much significance on the location that they are happy to select their machine or product based only on this factor.
  • Demographics: This is a slight evaluation of the location. This defines who is likely to use the machine. The demographics you are likely to cover at a school are children between 8 and 18 with access to disposable income in the form of pocket money. An office is more likely to have an older age group of people but with a bigger purse at their disposal. This kind of classification of who is likely to use your machine will help you identify the products they will likely need. It also indicates how you can price the products that have a compelling demand against others that don’t.

The right machine for the right product

Choosing the best product for vending machines impacts you’re the experiences of your customers, who do business with your machines. Getting the product mix right has a great influence on the revenue and profitability of your vending business, but the product by itself does not complete the experience of your customer. They conduct these transactions through your machines. Hence, the right machines combined with the best products deliver delight to your customers and success to you. Striking a balance between performance, features, cost of purchase, cost of ownership and maintenance could be tricky even for experienced vending machine owners.

This is where businesses like Vending.com can help. With over 90 years of experience in the vending industry and a sophisticated ecosystem of distributors and partners, Vending.com can provide the right vending solutions tailored to your needs. Reach out to us at www.vending.com or call us at 1-855-929-1042 to know more.

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