The first step in a successful vending business (besides killer locations of course) is cleanliness. You wouldn't believe the number of dirty candy machines around your city. Walk into any retail center and look at the machines, how long has it been since they've been cleaned? A month, 3 months, 6 months? The truth is they have probably never been as clean as the day they were dropped off. That's right, most vendors never clean their machines.
Will this really make a difference? You Bet!
What will eventually happen is the other guy will no longer have a machine there. The business owner will make them remove their machine when they see how well you service yours. Keep your machine clean! You are going to double your business and keep the best locations to yourself!
What to do: When you service your machines you should have a spray bottle with water and a fresh terry cloth rag. Spray the machine and keep wiping until it's crystal clean. Make sure the globe shines like the first day you bought it. Also, make sure your rag looks fresh, no one wants to see you clean your machine with a dirty rag!
Tuesday, August 18, 2009
Re: Bountiful Candy
This is called bountiful candy. Do you know how many repeat sales are lost due to not enough candy being vended? TOO MANY!
Don't Bogart your candy! You want to vend bountiful amounts of candy so your customers come back to you time and time again! Most vendors have the misconception that the biggest consumers of candies are kids. Maybe in some cases, but Generally it's the employees! Employees are going to eat your candy day in and day out. Trust me, a hungry auto mechanic can support an M&M Peanut machine all by himself.
Since we're on this topic, give the mechanics a quarter or two when you're there! They will appreciate and use your machine even more.
Don't be stingy on your candy. You know what they say, do unto others as you would have done unto you!
8 M&M Peanuts, No Less!
10 Skittles
10 Runts
10 M&M Regulars
1 Gumball
This well help you gage how to set your machines and sales ..
check out http://www.Kickstart.com for more info.
Don't Bogart your candy! You want to vend bountiful amounts of candy so your customers come back to you time and time again! Most vendors have the misconception that the biggest consumers of candies are kids. Maybe in some cases, but Generally it's the employees! Employees are going to eat your candy day in and day out. Trust me, a hungry auto mechanic can support an M&M Peanut machine all by himself.
Since we're on this topic, give the mechanics a quarter or two when you're there! They will appreciate and use your machine even more.
Don't be stingy on your candy. You know what they say, do unto others as you would have done unto you!
8 M&M Peanuts, No Less!
10 Skittles
10 Runts
10 M&M Regulars
1 Gumball
This well help you gage how to set your machines and sales ..
check out http://www.Kickstart.com for more info.
How To Measure Results
This is part three of the double your vending cash flow series!
As email tips go this is going to be an important one. It is an important aspect of any business, every business, and especially this business. You are not just a vendor; you are a business man or woman, entrepreneur, and investor. Don't you want to know how your investment is turning out?
How does an investor look at his investment? ROI or Return on Investment. You can also look at is as your internal rate of return for your business.
To be successful as a vendor and to be successful in business you need to measure results. If you don't measure, how will you know where you're headed?
Here are several variables you should begin tracking right away.
* Machine sales per month
* Sales per "head" per month. Double head machine would have two heads. You need to keep track of each head and how it performs.
* Total Sales per type of candy per month. You need to know if you are selling more M&M Peanuts than Runts and by how much.
* % Margin on candy per month. M&M Peanuts may have greater sales than gumballs but gumballs may earn more profit due to the higher margins.
Now, using all of your data; load your spreadsheet program up and input all of this data to create a Pivot Table. This will show you graphically what is going on in your business. This is your first level of measurement.
Steps:1. Measure Results
2. Track Results
3. Make informed decisions.
4. Take the necessary steps to increase value.
Read more about Pivot Tables Here:
http://www.microsoft.com/dynamics/using/excel_pivot_tables_collins.mspx
Regards,
Robert Patterson,
President
http://www.kickstartlocations.com
As email tips go this is going to be an important one. It is an important aspect of any business, every business, and especially this business. You are not just a vendor; you are a business man or woman, entrepreneur, and investor. Don't you want to know how your investment is turning out?
How does an investor look at his investment? ROI or Return on Investment. You can also look at is as your internal rate of return for your business.
To be successful as a vendor and to be successful in business you need to measure results. If you don't measure, how will you know where you're headed?
Here are several variables you should begin tracking right away.
* Machine sales per month
* Sales per "head" per month. Double head machine would have two heads. You need to keep track of each head and how it performs.
* Total Sales per type of candy per month. You need to know if you are selling more M&M Peanuts than Runts and by how much.
* % Margin on candy per month. M&M Peanuts may have greater sales than gumballs but gumballs may earn more profit due to the higher margins.
Now, using all of your data; load your spreadsheet program up and input all of this data to create a Pivot Table. This will show you graphically what is going on in your business. This is your first level of measurement.
Steps:1. Measure Results
2. Track Results
3. Make informed decisions.
4. Take the necessary steps to increase value.
Read more about Pivot Tables Here:
http://www.microsoft.com/dynamics/using/excel_pivot_tables_collins.mspx
Regards,
Robert Patterson,
President
http://www.kickstartlocations.com
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