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Cost of Vending Locations
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The cost of vending locations is going to depend on many different factors. There is no set price out there that is charged for the right to place your vending machine on their property. In many instances you can negotiate a fair price for your placement. After all, they don’t have to do anything to earn money with this type of agreement so what they do receive from you is 100% profit. You are the one that pays for the vending machine, stocks it, and has to pay for any damages that may take place to the machines.
In order to determine what the cost of vending locations should be for your particular business you will need to crunch the numbers. No matter how good a particular vending machine location is, the final factor should be the amount of profit you will earn after you pay for the machine, pay for the products to stock it, and pay for the location. If too much of your profits are going to be eaten up due to the cost of vending locations then you need to look for other options.
Make sure you get all of the specifics of the cost of vending locations in writing. You don’t want any disagreements to take place due to there being a misunderstanding of the information. The agreement needs to specify how many vending machines you can place, the amount you will pay for the location, and the length of time this contract is good for.
Some locations will require you to stock the vending machines during specific hours. If this is the case make sure that information is documented as well. You will need to do all you can to honor the terms of the contract you have with these locations. Once you have shown yourself to be a good business to work with you may be able to negotiate the cost of vending locations down to a lower price.
The cost of vending locations is something you can easily negotiate on your own. If you feel intimidated by the prospect of having to do this, practice until you are confident in your abilities to do so. Present your information in a manner that is honest and shows the owner of the property why it is a good investment for them. Show them that you are an honest and reputable individual to work with.
Don’t waste your money paying a vending locator company to take care of this for you. Since they don’t really care how much profit you make, they are going to give you the cost of vending locations just to satisfy the agreement without any negotiating.
This is a best case scenario too because many of these vending locator companies aren’t even legitimate. They will promise you all sorts of interesting commitments but when it comes right down to it, they are out to take your money for their own personal gain. These types of scams have become very common so don’t let yourself innocently become their next victim.
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Ever sine we published our first vending book a few years ago, we have been bombarded with readers and their locating horror stories
It is disheartening to see how many unsuspecting, eager new vending owners are totally devistated by their dealings with unethical vending locating companies.
A little insider information is usually all that stands between a frustrating vending locating company situation, and an agreement that puts the power in the hands of the vending machine owner.
We searched high and low to find a legitimate resource to recommend to our previous readers. We wanted to find a resource that would teach new operators what information they needed to know to protect themselves from vending locating scams, and the information they need to start to find locations themselves. We couldn't find a single resource we could endorse!
Find out the ONE LITTLE THING that was missing from ALL the resources we evaluated!
After starting out our vending adventure completely the wrong way, we turned lemons into lemonade and worked for years to build a large, profitable, full time vending company. To read more of that adventure, why we wrote our first vending book, and why that FORCED us to write this to warn people about vending locating problems, (click here)
Rob Farnham
(veteran vending company owner and author of "Locating Vending Locations")
(Don't make the same mistakes we did! Of course, feel free to make your own new ones!)
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