Start A New Vending Business

How to start the business? There is a lot of ambiguity in minds of lot of people when it comes to starting a vending business. A thorough market research is very important as it helps you to understand the demand, various models of vending machines available in the market, latest products, and customer needs and competitors strategies.

Vending is a unique business which is nothing but all about places, people and products. So, starting a vending business needs some creativity. Thorough knowledge and proper planning can make this business a huge success. Few additional skills that can help you in becoming successful are:

• Establish contacts: It is very helpful if you have some contacts with existing vending operators. These contacts will help you start quickly and make money at a faster pace.

• Basic knowledge about fixing vending machines comes handy in case of any emergency. This technical knowledge not only saves your time but also helps keep your costs under control

Once you are confident of starting a vending business, you would need vending machines. There are several varieties of machines available in the market. Some of the popular ones being:

• Soda dispensers
• Gumball dispensers
• Snack dispensers
• Toy dispensers

If you are taking up this business for the first time, it is advisable to start on a small scale with one or two machines. You also need to gather relevant information that helps in making your business a huge success. You also need to keep a few things in mind before starting this business:

• The reason for taking up this business. The pros and cons of operating a vending business.
• Conduct a small market survey in order to understand the marketing scenario and scope for new entrants.
• Estimate the start up cost.
• Ensure if you are financially self sufficient.
• Choose the right location. If required take the help of professionals in identifying prime localities.
• Create a business name
• Develop a logo and use a business card. Your logo and card act as silent sale man for your business.
• Understand customers changing needs, tastes and preferences.

For more information on getting started, Planet Antares staff can be of great help.

Identification of New Vending Location

“Too many running after too few”, this is the present vending market scenario. This industry has been in existence for quite sometime now and ever since its inception, it has given life and employment opportunities to several young, enthusiastic and upcoming entrepreneurs.

Some of the unique features of vending industry are- there are no set boundary restrictions for operations and being an open market, operator is free to install his machine anywhere and everywhere he wants. Although the capital requirement is pretty low and there is no specific skill set required, this business is quite challenging when it comes to finalizing a location.

Operator’s choice of location is influenced by several factors like financial ability, kind of product and target audience. Hence it becomes imperative for the operator to consider few aspects like visibility and accessibility. Visibility and accessibility are vital for generating business. Some of the most common vending locations include schools, hospitals, offices, shopping malls, amusement parks, restaurants, parks, gyms and other places where people need to wait for considerable time.

By this time you might have understood how tough it is to identify a perfect vending location. However, there are several methods that help you in choosing the right location. To begin with you can opt for one of the traditional methods of distributing flyers. These flyers include information about various services offered and contact details of vending machine.

Another way of identifying new locations is by advertising. With the prospects of success being very high, several operators are spending huge money on various modes of advertising. However, operators need to be choosy when it comes to investing their hard earned money and be very cautious so that they do not get carried away by any misleading information.

In case you have no time to do all this by yourself, you can hire a vending locator. Planet Antares can assist you with true professionals who can assist you in finding the perfect location suitable for your kind of business.

Why Is Purchase of Used Vending Machines Discouraged

Unlike other business models, vending is purely a customer oriented business. The success or failure of this business is greatly influenced by the extent to which customers are satisfied. Since the inception of these machines, customers have preferred them only due to the convenience and instant services these machines have been able to offer.

Modern lifestyle and eating habits have changed drastically. People are preoccupied with their professional and personal engagements that they hardly have any time to spare for themselves. To overcome stress and hunger while at work, customers are taking rescue of vending machines. Thus making it part of their daily life.

In few instances these machines rather than providing convenience are causing a lot of inconvenience to customers. How? Let us look at a instance in which customer deposits money into a vending machine in order to make a purchase but he never gets back the change. This would make him wait for endless number of hours before the machine not knowing what to do. What is the reason behind such instances? Improper maintenance and irregular servicing is the main cause for malfunctioning of vending machines.

Can operators avoid these issues? Yes, as every problem has a solution so does this. These issues can be avoided with proper maintenance of machines. Negligence or lack of proper maintenance can not only drop your sales but also spread ill will both among customers and market as a whole.

Another main reason behind low efficiency of these machines is purchase of used or refurbished machines. Few operators with the intention of saving money opt for used machines which often break down. Most of the operators get attracted by their low cost and end up spending more and more money on its repairs. Hence it is always advisable to purchase new machines of reputed brands from established and standard companies.

Another reason why operators are asked not to purchase a used machine is because this machine must have been subjected to a lot of wear and tear by the previous operator and have been sold due to some major problem with it. Hence operators should always go for new machines of reputed companies. These come with warranty and are far more efficient than the used ones.

How to Establish Vending Business?

Modern market is highly competitive. “Survival of the fittest”, this saying holds good in this market. only those few companies that are able to withstand the high tides in the form of tough competition can alone reach the other side of the shore( meet their goals) while all other are washed away. In such a situation, if you are looking at establishing a business of your own and prosper in it, you need to follow few tips.

• There are several kinds of products available in the market. Based on his financial ability, it is up to the operator to select the appropriate product suitable for his kind of machine and location. Candy and gumball machines are definitely going be a huge success but you may need to start with more than one machine in order to get the desired volume of sales.

• Once you have chosen the product, you need to find best location with high customer traffic in order to locate your machines. Places like hotels, motels, lunch rooms, offices, bus stations, supermarkets and malls are ideal for locating vending machines. However, the choice of your location also depends on your target audience and products your offer.

• Whenever you take up vending business you have two options at your disposal. You can either purchase a new vending machine from a reputed company like Planet Antares or rent an existing one. Choice would depend on your financial limitations. However each of these has its own set of benefits.

• Make sure you browse the net for gather information about various models of machines available in the market. Many vending manufacturers offer online sales. Who knows you may find the best deal at very reasonable price.

• In case you purchase a used machine, make sure it works with current currency and is easy to operate.

• Always give priority to metal machines rather than plastic ones as repairs to these machines are quite easy.

• It is a proven fact that greater the exposure of a product receives, the higher its sales. Especially if you place it in a compatible location. Hence operator needs to be in persistent look out for new locations.