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How To Get Vending Machine Locations

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How To Get Vending Machine Locations

university

Vending machine business can be a very profitable one if you get a good location.

Vending machine business gets sales of around $7 billion per year. And as per statistics the snacks and vending machine industry reports a profit of $64 million annually.

All the sales and profit depends on various factors but one of them is most critical. The location of the vending machines. Let us discuss how to get vending machine locations.

Why It is Important: Like any other retail business, the right location is of paramount importance in vending machine business.

People use a vending machine for convenience and they would not walk a mile just to access a vending machine.

It should be near a location where foot traffic is high.

lots of foot traffic

It could be a hotel, shopping mall, train station.

Ideally, it should be in a place where no other vending machine is there. Also, the product you are selling through the vending machine should match the location.

If you are selling predominantly cold drinks outside a bar, chances are there your business will not flourish.

Also, safety is another concern.

Most of the transaction is a vending machine is a cash transaction.

If the location does not have enough security, the probability of vandalism increases.

There is some reason why you need to care so much about how to get vending machine locations.

Ideal Vending Machine Locations for Some Products: Choosing the right product for the location is also important.

Some of the products which might sell in special locations can be listed down here. In most of the locations like universities, malls, office buildings hot beverages like tea, coffee hot chocolate and snacks like water, candy, sodas, chocolate bars, etc. are sold very well.

In business environments, universities, schools hot food and sandwich machines can be your best.

The locations which are visited by families regularly are ideal for candy and toy machines.

These include play parks, malls, supermarkets, etc. Personal items like OTC drugs, toothpaste, feminine hygiene products are good for restrooms in malls, service stations, public transport facilities’, etc.

How to Choose Ideal Location: You need to do research for that.

research and do paperwork

First, choose a few ideal locations. Once identified, collect data for some variables like average foot traffic, number of vending machines nearby, the average income level of the locality, lifestyle habits, like the number of health clubs, green food stores nearby means that area might not be suitable for junk food vending machines and so on.

Analyze the data to zero on one location. Check the crime rate as well to ensure the safety of your investment.

How to Get Vending Machine Location: Next stop is getting the vending machine location.

You have identified may be a supermarket or a hotel or an office building to install your vending machine. Now how to get the location? Remember you will not get the location after one small phone call. You have to work hard for that.

Prepare Profit Potential: Prepare a profit statement to interest the business owners.

business proposal

However, do not make unrealistic projections. Make some projections which are more to the ground level about sales and profit.

Reach Out to The Business: Talk to the middle managers, the? gatekeepers’.

Show them what’s in there for them. Make the sales peach. One thing for sure you will get a cold shoulder at first. “We do not need it”, “We are not interested” or even a straight no. You need to keep trying without being too pushy. Your sales pitch should interest the businesses to carry the project forward.

This scenario happens to me all the time when I approach for a location that I wanted to get in. The rejection rate is around 80 percent for me personally. It is always about selling, you just have to keep on trying. But of course, not to the point that gets the manager irritated. You will know when to stop calling.

Talk To the Owner: Some of the experts say talk to the owners directly by skipping middle management, some of them say to follow the ladder.

manager

In any case, you need to meet the owner and convince them it is a good project. It may be the principle of the school or manager of the shopping mall, but in all the cases winning over the last barrier is very important.

Prepare a Proposal: Next Step in how to get a vending machine is prepare a final proposal.

It should be more customized for the business you are targeting than your initial projection. Make sure it is realistic yet positive.

Finalize The Deal: Seal the deal by signing the contract to install your machine.

Even if you have like 10 to 12 locations to service on that day, you inherently knew that this day is important and have to prepare a contract for the facilities’ manager to sign which will just take 15 minutes tops.

Conclusion:

How To Get Vending Machine Location is a tough question. You need to do lots of groundwork, be very patient yet persuasive, and practical. You can achieve your goal to install the vending machine at a perfect and profitable location.

https://www.thebalancesmb.com/starting-a-vending-machine-business-4138408

https://smallbusiness.chron.com/establishment-let-put-up-vending-machine-20422.html

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