The pursuit of vending success
View PDF | Print View
by: John Coffee
Total views: 7
Word Count: 670
The vending business is not a new industry, far from it. Vending has been around since Roman times when pure drinking water was ‘vended’. Today ‘vending’ is very different with a massive choice of machines from the simple mechanical to sophisticated electronic vending machines. The vast amount of products available from vending machines include pizza, hot-dogs, iPods and even cannabis.
Vending machines are part of our everyday busy lives but have you ever stopped for a moment to think of a world without vending machines? All those convenient places that we just expect to find them, at our office, at the local leisure centre, hospitals, stations, airport, street corners, toilets and pubs.
Vending works as a business concept because it offers the consumer convenience and opportunity, whenever and wherever the consumer desires. It is this fundamental fact that makes vending a truly viable and desirable business proposition.
Many businesses are dependent upon a buoyant economy to thrive. Should the economy struggle like recently with mortgages and credit cards, increased unemployment and the onset of a recession, many businesses reflect this economic downturn with reduced sales and profits, and can even face closure. Fortunately, this barely effects most forms of vending due to the low cost impulse buy nature of most vended products particularly comfort eating treats, which consumers purchase regardless of outside economic forces.
Setting up a business is renowned for high initial set up costs such as acquiring premises, buying equipment, stock, advertising, marketing and so on. Should the business fail, the vast majority of that business investment will be lost and the business will be finished. With the Vending Business, the major investment is in the vending equipment, the variable is the site, and as long as you are able to acquire sites your vending equipment will always take money, in fact there are many operators today using vending equipment purchased over twenty years ago that has been in several sites over the years.
Other than the largest of vending operations, premises are not required for warehousing or offices. A reasonable size vending business can be set-up from the home garage or spare bedroom for the relatively small amount of stock that needs to be held. A commercial vehicle is not required for most vending businesses as the family hatchback or an estate car would be perfect for visiting your sites.
Compared to almost every other business category, vending provides a relatively low cost, low risk business opportunity with simple predictable growth in the long term. Of great appeal is the speed in which a new vending venture can be established and successfully trading.
Vending further benefits from being a cash business with no debtors and therefore no risk of customers not paying or having to finance the credit terms you offer your customers.
Vending offers total flexibility for those with an existing business or existing family commitments, vending offers total flexibility.
To service a simple mechanical vending machine can take as little as 5 to 15 minutes, with many sites having out of business hours opening, allowing the operator to visit when it suits them and when they have the time.
Finally, vending offers the opportunity to expand and grow your business at will, adding extra low cost vendors as and when required to increase your monthly income. Many operators started their vending businesses purely for some part time extra income, and have eventually built substantial size operations of several hundred vendors producing very serious profits.
Vending like any other serious business requires effort and commitment if you are going to be truly successful in vending you will have to work hard at it.
The good news is that vending is incredibly time efficient compared to most businesses and the real advantage is that as you do other things, your vendors continue to do business and earn you money 7 days a week 24 hours a day, now that really separates vending from the rest!
About the Author
By John Coffee, writing about vending business and drink suppliers.
Rating: Not yet rated
