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Finding Vending Locations
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One rule of thumb for vending business is not to invest in the machines until you have secured quality locations for them. You don’t want to waste your money and then discover you have no place to put them. When it comes to finding vending locations, you need to really work hard to ensure they are going to be locations where you will have the potential to earn plenty of revenue.
While finding vending locations, keep a list of places you think may work well. Find out as much information as you can about each location. Approximately how many people will walk past your vending machines on an average day? What types of events take place in that area? If it is a business district, what are the hours of operation? This is important as you want to place them in areas where there will be a good flow of foot traffic on a regular basis.
You may find you have to stake out various places when you are finding vending locations. This can be fun but it can also be boring. It is a good idea to frequent the locations you have narrowed done and observe the patterns of people coming and going. Make sure you monitor the areas during different times of the day and different days of the week in order to get the most accurate information.
Your communication skills will come in very handy when you are finding vending locations. Since you will have to get the approval of the owner of the area where you want to place them, practice what you are going to say. You need to have a sales pitch ready that is sincere. It needs to express to the individual how beneficial placing vending machines in that vicinity can be to them.
Try to be as negotiable as possible with the financial aspects when you are finding vending locations. However, you need to do the math before you start such discussions. You need to have a firm understanding of how much profits you can potentially make so you know what you can realistically pay for the space.
The more efforts you put into finding vending locations that are going to be profitable, the more successful your vending business will be. Those machines that make money didn’t just happen to get placed where they are at. It was only after careful research and investigating were they deemed to be a worthwhile location.
Do yourself a favor and take care of finding this information on your own. While you may be tempted to pay for a vending locator service they are nothing more than a waste of your money. You will be very disappointed to discover they have taken your money and disappeared. Finding vending locations that are worthwhile is too important to get yourself involved in such scams.
Many smart business people conduct the research for finding vending locations before they purchase any equipment or goods to stock them. This way they can gauge the potential for earnings well in advance. If the numbers don’t compute to some decent profits they will have the opportunity to rethink their plans before committing to them.
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Unfortunately, there are any post secondary courses teaching "How To Locate Vending Machines And Deal With Locators".
We looked, but we couldn't find any really good resources to teach new owners how to deal with locating companies, and how to locate machines themselves. We read a LOT of books and programs and were shocked at the ONE thing ALL these programs didn't mention. To learn what they ALL conviently ommitted click here
It is our hope that this inside inforamtion might stop the growing statistics of new vending business owners who are losing their dreams. Too many new vendors are being blind sided by unethical vending locating companies.
There are one or two pieces of information that could safeguard a new operator from some of the vending horror stories we've seen. If you would like to read the events that caused us to sit down and write out this information, click here to read that story.
Rob Farnham
(veteran vending company owner and author of "Locating Vending Locations")
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