Jump to content

Close

Ross

Member Since 10 Mar 2011
Offline Last Active Apr 10 2011 12:16 PM
-----

Posts I've Made

In Topic: Any dolly suggestions for moving vending machines?

16 March 2011 - 05:04 PM

You guys wouldn't recommend the electric ones that are helpful for going up stairs, etc? laying the machine down flat to help in height restricted areas?

In Topic: Dex Credit Card

13 March 2011 - 09:03 AM

Ross,

Their are MANY things to worry about when wanting to start a vending company besides which machine to buy and credit card readers. While those things are important it is a small issue when starting a vending operation.

Business plans
Financing
How are you going to get accounts
What accounts to target
How are you going to move machines
Can you fix machines if not who can fix them for you and what do they charge?
Where to buy product
Competition, how many vending companies currently in your area
Is the competition good companies? What are their strengths and weaknesses?
Exit strategy
Etc, Etc


Perhaps there is a good chance I have most of that figured out already, and I'm more concerned with over head cost, etc? Credit Card Readers in my specific area of Long Island, NY in certain locations are almost needed not just desired because no one carries cash anymore the surroundings. It's very easy to see just when I have 500 customers come buy something in my own store how many have even a dollar in their wallet, and the chances of them vending two items instead of one because they don't have more than a dollar, or pocket change on them. I do not live in an area where the AVG Household Income is 40, 50, or even 60 thousand a year -- it's 90,000.

I for one have two locations that have training meetings in groups of 10 - 20 all day with roughly 5 counselors every hour creating heavy foot traffic, and they all pay every time they are there, and 80% of them pay with Debit/Credit Cards.

When making a business plan with financing it is key to figure in ALL cost -- Repair, MACHINES, Credit Card Readers/Fees, Maintenance, Surplus of Cash to keep in the Machines, Cost to keep all Machines filled with merchandise, Moving Machines, Moving Product, Storing Product, etc ... and lastly if you were not paying in cash how quick do you intend to repay your loans.

Machines are key to targeting specific locations.

I have friends in high places that for instance work, and manage the Township of Babylon, so I will be well versed when it comes to knowing a contract is up for big for schools, etc when they all renewal, or the town parks.

I also have two major dealership service lanes, and a couple other locations I would not care to mention as I'm sure most people do not like to be specific about locations.

The competition is horribly serviced, terribly old machines, and do not pick up their phones.

In Topic: Vending Book Recommendations

12 March 2011 - 01:59 PM

Thanks for the great suggestions. I did already order the Vending Machine Fundamentals as I saw many recommend it before. Is there anything out there that has machine recommendations/specifics out there for reading material? I understand a lot is stressed on location, location, location, but once you get one a good quality machine for the size/price/sturdiness is key to keeping the location.

In Topic: Vending Machine Choices

11 March 2011 - 05:48 PM

I would have like to have invested in Microsoft when it was 2.00 a share too. I'm just joking. Having a business plan is always key to success (that way when your plan doesn't work you know it was a bad idea). Just a few things to remember 1. There is a vending location for every vending machine made BUT! not every vending machine fits every location. You talk about a Bev max then you talk about a 250.00 pop machine two totally different machines. A 250.00 pop machine will probably not be in good enough condition to secure and keep a location that does 50.00 a week. The issue here is you are looking to purchase a 250.00 machine to put in a location when another vendor has a 3,000.00 machine sitting in his garage or warehouse that he his making payments on and not generating revenue. If I was the location owner you lose. 2. You have to decide on locations based on ROI if you want to survive the long haul. If you just want to do it on the side for 2 or 3 years you will lose so just give me your money and I'll send you a christmas card every year I promise.Vending is not a get rich quick scheme it is a nice profit for risky investment with lots of hard work and lots of mistakes. 30 years ago I could have taken the same money I invested in the vending business and put it in Microsoft ............ I wouldn't be sitting here typing help answers. A Quick rule of thumb is take the # of employees times 250.00 i.e. (100* $250.00 = $25,000)and if you are willing to invest that much money on a guess thats your break even point. Then try and do it for less and make the location happy thats your profit. GOOD LUCK! Just a thought.
Vend1ng



As I stated before ... I have locations in mind, and if you read fully the larger machines such as a BevMax2 Unit would be placed in a location with enough employees/customers deemed for a machine of such size, and even replace some of the lovely 30 years in the game vendors that as you so eloquently pointed out aren't making payments on a 3,000 dollar unit, because I see POS Machines in multiple high traffic locations with plenty of failure to fill complaints due to selling out.

The unit needs to fit the locations. My interest in a 250 dollar machine is pretty simple since I have locations that could use them. They are capable of being indoors, and out. Any damage/theft sustained is extremely minimal. If I had 10 small locations with 250 dollar machines I serviced 1, or twice a week averaging and extremely low profit of $25 dollars each the machines would be paid off in 2.5 Months minus gas/time. 10 local machines x 25 a week making myself an extra 250 dollars for an added 1,000 a month is still a fine profit for someone who is already producing a fine full time salary.

Again I appreciate the help in the low end model numbers of the soda machines, but I was also specifically looking for some advice on the BevMax Soda Machines, and possibly the National Snack Machines unless someone would highly recommend else wise since I have two very specific high traffic dealerships service lanes that would like to have machines placed that are opening up which is why I specifically was interested in the appeal of a Glass Front Machine.