Why is there a need to find new vending machine locations during the Pandemic?
As a vendor who is also considered in the retail sector which is in the same league with restaurants, retail shop which needs a constant flow of traffic for customers.
There are numerous vendors who are earning around 5k to 10k prior to the Pandemic area and very comfortable.
Which is enough to pay most of the bills.
With the advent of the Pandemic everyone is affected except for the federal government. With income drastically reduced to more than 50%. Everyone took out loans and second mortgages which may last for a couple of years by a frugal lifestyle.
Lots of people went to depression as evidence in the hospitals.
There are some vendors who went under and coffee guys who run around in Downtown offices are gone because there are no one drinking coffee in offices with skeleton staff.
Personally my vending business dropped to more then 50% and most of the locations are partially closed and reduction in hours.
In this business, there are hidden gems and the secret lies in locations.
You need to work hard to secure new locations during the Pandemic times.
Vending machine operators must acquire new locations and identify which ones are still with a lot of people. If a vending operator do need go out and look for new locations then the business will surely halt and need to downgrade everything since the income is halved.
- From House to Townhouse
- From Townhouse to Old Townhouse
- From Old Townhouse to Rental
- From Rental to Basement
- From Good credit to bad credit
- From Owning several vehicles to one vehicle
- From Several phones to one phone
More businesses will still close when the CRB will end on September. November, December 2021 will be decision period if several business owners will downgrade, moveout and exodus back to where they came from.
When everything is exhausted then there will be nothing.
There are several factors why the need to find new locations
- To recover from lost earnings
- To get back to previous earning income prior to Pandemic
- To maintain the current lifestyle
I was in a race in constantly finding new locations because of the reasoning that i cannot keep my bills.
I was not kicked out of the locations.
The locations that I was maintaining is earning almost ZERO.
By properly doing your homework, you need to find new locations in order to survive.
It will be very expensive in the beginning to remove machines from underperforming locations to new locations but in the long run you will be saving your business.
Luckily, I was granted to 7 new locations which are outstanding in performance.
I will be forever indebted to the managers on these 7 new locations since they are extraordinarily performing even during the COVID phase.
I started finding new locations since last quarter last year when the paranoia in COVID 19 subsided allowing some vending machines in locations.
Finding new locations is very tough, I am a broken record and very annoying when approaching prospects.
- If you are rejected then just quickly move on to the next prospect do not waste time and find hidden gems.
- If you wanted to survive in this business, you have to constantly find hidden gems locations in the vending machine industry.
- In business I’m used to being rejected, this is the nature in business some people are friendly and some people just do not have the time to talk to and inconsiderate.
- There are people who do not understand how business works and there are some people who knows that some expensive items earn just a fraction such as computer memory chips e.g. 1GB RAM $22 cost wholesale in Taiwan or Japan and sells for just $25 to computer distributors.
Just imagine the obsolescence if not sold on time due to fluctuations in demand and supply, needed to sell quickly and volume needed to keep your computer business afloat.
Computer business needs speed and hard selling in quantity to survive or else you can be deemed as an eBAY Auction warehouse selling obsolete parts and prices dumped to the ground with expensive acquisition cost in just 2 weeks prior.
In the vending industry, we are lucky that we just need new locations to stay afloat and rid of the under performing ones. Chips, Chocolates Bars, Cookies prices are stable, the problem is finding great performing locations during this Pandemic.
I’m still in constantly finding new hidden gem locations before the CRB funding from the government runs out this coming September, 2021.