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Finding the best location for your vending machine

At the cost of sounding cliche, the top three of the five most important factors for success in the vending business are location, location, and location. It won’t be surprising if the other two are location too. Winning the best location for the vending machine is the first step towards monetizing the capital investment made on the machine. It influences critical business metrics like sales, profits, and average revenue per user. Choosing a poor location for a fancy piece of vending equipment is like keeping your gold in the bank and paying rent for safe keep. It is not only a poor use of your asset, but it also burns more cash for the upkeep. Incidentally, you could check out Vending.com’s profit calculator to simulate your earnings.

Need for a new location

Vending businesses are always looking for new vending machines and the best locations to place them in. The location is where their business starts generating returns or cash. Each vending business owner has their own drive to expand or enter a new location.

  • Starting a new vending business

Vending is a lucrative business with low barriers to entry. Vending machines are easy to use, not too expensive, and quick to generate returns. First-time investors of the vending industry who are looking to save for a rainy day are hungry for new locations. Location owners prefer working with them as long as they are in for the long haul. Vending.com has a specialized focus on helping entrepreneurs becoming successful.

  • Expanding to a new location

Vending machine owners who are already in business are also looking for opportunities to expand. They often start close to their base of operation and slowly expand to adjacent locations.

  • Choosing the right location for maximizing growth

Businessmen who are trained hands at the vending business always seek to maximize growth. If they identify an open opportunity in a high-growth locality that can benefit from the convenience of a vending machine, they pursue it. This adds to the race for space. Our earlier blogpost covers this area.

  • Diversification of risk

Veterans in the business are not only hungry for growth but are also keen to reduce risk. Betting on one or a few locations is like putting all the eggs in one basket. So, they often try to find new localities to place their equipment with diverse demographics and preferences. This helps them tide over challenges due to lagging demand in the areas they already operate in.

Selecting the right location

Newbies and veterans alike are hunting for that attractive bit of real estate where their vending machines can serve more and more customers. But not all places have the same level of earning potential. Successful vending entrepreneurs carefully select the ideal spot for their machines and then go all-out to win the location. While there is no clear definition for the right site, common sense and meticulous consideration of certain influencing factors can help get the best location deal. Some of them are discussed below.

  • Traffic volume

All said and done, like all other retail businesses, vending is a numbers game. The more the number of transactions, the faster is the recovery of capital employed. The machine should be placed in spaces where there is a good level of foot traffic. Public spaces, offices, schools, and other public places are good examples of a good volume of user traffic. These locations often generate the most per-machine revenues.

  • Traffic quality

While the volume of transactions driven by high foot traffic is essential, the kind of traffic also plays an important role. The vending machines in the lobby of the office of an investment bank will have users with high disposable income. The average price per transaction will be higher than a school where children deal in “small change.” This also allows adjusting margins depending on where the machine is located. A good example would be when the same water bottle costs more in the office than at the school.

  • Competition

Competition in the vending business is a necessary evil. When the location you are pursuing has been hosting a competitor for a long time, the competitor continues to enjoy good sales. But it also means you will have to fight harder. Fight harder with the location owner for placing the machine and then fight harder for the wallet-share of the consumer who visits the place.

There are also advantages to placing the machine where there is competition. It is relatively easier to price suitably for the location without experimentation. A common trick is to price the competitors’ product brands at lower levels in your machine and price your unique ones at higher margins. Eventually, in a location with fair competition, the prices of all vendors settle down to similar levels. Then the differentiator is through the quality of products, availability, and the quality of the machines used. This is also an opportunity to showcase and grow your brand’s identity and recall value, and Vending.com’s marketing has the precise support that helps with this.

  • Merchandize

The merchandize that is sold in the machine also varies as per the location. Protein shakes sell almost exclusively at the gym. There is very little chance that an office employee will shell out change for a protein shake at the cafeteria. Potato chips at the gym might only the serve the purpose of testing the resolve of the patrons. They may fly off the racks at a school or a park though.

  • Type of Vending Equipment

It might come as a surprise, but what machine you choose will also depend on your location to place it. The table below shows how certain types of machines will suit almost all the locations, while others fit only a few.

Location Combo Vending Machines Drink Vending Machines Snack Vending Machines Frozen Food Machines Coffee Vending Machines
Schools and Universities ✔ ✔ ✔
Offices ✔ ✔ ✔ ✔
Hotels ✔ ✔ ✔ ✔
Shopping Centers ✔ ✔ ✔
Hospitals & Care Centers ✔ ✔ ✔ ✔
Government Offices ✔ ✔ ✔ ✔
Transport Service Centers ✔ ✔ ✔ ✔ ✔
Gyms ✔ ✔ ✔
Manufacturing Facilities ✔ ✔ ✔ ✔

Conclusion

Vending business owners can consider work half done when they have scored the best locations for their vending machines. From there, it is just making them rain.

Experts at Vending.com can guide you to get your new vending business off to a flying start or race ahead of the competition. To know how to pick the best vending machines for your location or suitable locations for the equipment you have in mind, talk to us at 1-855-929-1042.

Vending.com
Posted on | by pmasters@wittern.com

Grow Your Business with Your New Profit Maker

As businesses around the United States continue to open up and welcome back employees and customers, many vending business owners have noticed an increase in vending sales. In order to help business owners, as well as new and current vending operators, thrive in the vending industry.

In order to help business owners increase profit, as well as new and current vending operators thrive in the vending industry, Vending.com is offering 0 interest for one year, as well as 0 payments for 60 days, on select vending equipment, with approved credit. Vending machines and their first-year monthly payments include:

In addition to zero interest for one year and zero payment for 60 days, Vending.com is also offering no-cost for Greenlite credit card reader installation. Greenlite allows you to manage all of your vending machines anytime, anywhere by giving you access to a number of reports including machine health, machine sales and more. Additionally, it allows vending customers to purchase products with credit/debit cards, as well as mobile payments.

Whether you are a seasoned professional in the vending industry or a new vending operator, Vending.com is here to coach you every step of the way. For more information on how to increase your business profit through vending, give us a call at 1-800-548-1982.

Posted on | by pmasters@wittern.com

Grow and Change With the Vending Industry

Grow and Change

The vending industry is constantly changing and evolving and it is our job to ensure that we are changing and involving with it. This could be introducing new machines, enhancing the technology features on your current machine or even changing the look of your vending machine. Vending.com has done just that and we are excited to introduce to you the Express Combo Vending Machine. 

The Express Combo Vending Machine is the ultimate machine when it comes to satisfying your customers. This updated vending machine includes 29 selections, 9 drink and 20 snack, so you are sure to give your customers exactly what they want. These products are sure to pop with enhanced LED lighting that comes standard on the merchandiser. Additionally, you will have the ability to load the products with ease with tilt-out snack trays. 

In order for a vending business to be successful, it is important that it is easy to use. The Express Combo Vending Machine is Americans with Disabilities Act (ADA) Compliant, which ensures everyone can use your machine with ease. This important vending update also comes standard with an electronic bill and coin acceptor. If you are, however, worried about bill and coin acceptance not being enough, a cashless card reader, such as Greenlite, can be added to the Express Combo. Now, your merchandiser can accept bills, coins, credit / debit cards and mobile wallet payments. Greenlite also has the ability to increase vending sales by 15-30%. 

Nothing is more frustrating to customers than when you purchase a snack and it gets stuck in the vending machine coils. One of the many benefits of the Express Combo Vending Machine is that it comes standard with the iVend Guaranteed Delivery System. It ensures that your products will be delivered to your customers, or they will receive their money back to try again for the same product or a completely new product. It turns your frustrated customer into a satisfied customer.

Growing your vending business can be tough if you are not willing to grow with the vending industry. The Express Combo Vending Machine will allow you to cater to your customers and understand their needs. To find out more about this merchandiser, other Vending.com merchandisers, or how to take advantage of our vending machine financing, call us at 855-253-7880.

40 Selection Snack Vending Machine
Posted on | by pmasters@wittern.com

The Best and Biggest Selection of Vending Machine Options

When it comes to vending machines, the importance of offering the biggest and best selection of items to customers cannot be overstated enough. Vending machines are an important fixture in the daily lives of many – they’re often used for everything from a quick snack in between classes or meetings to a necessary cup of coffee first thing in the morning. If a vending machine doesn’t offer what a customer needs, however, they’ll begin to lose faith in it and will look elsewhere for what they desire. At that point, it’s hard to get them back again, which is why offering the largest selection isn’t just recommended, it’s practically a requirement.

Now, one vending machine manufacturer has proudly stepped up to the plate and answered that call: the 40 Selection Large Capacity Vending Machine is available to order now from Vending.com.

40 Selection Snack Vending Machine

The 40 Selection Snack Vending Machine is our biggest vending machine and was built from the ground up to be the perfect choice for high traffic, high volume locations. It doesn’t just offer a large number of different selections, it also breaks new ground in terms of variety. It has 15 snack selections, 18 candy and snack cracker selections, two gum and mint selections and five pastry selections, making sure that you have all of your bases covered and that your customers walk away satisfied each and every time.

The product itself features six flex trays, all of which are fully adjustable in one inch increments to better service your unique needs – even if those needs should happen to change on a regular basis. Our biggest vending machine also gives business owners the power to individually price selections in any way they see fit and is even re-configurable for product selection spacing or variable packaging sizes.

Powered by the revolutionary iVend Sensor System, the 40 Selection Snack Vending Machine features a large, lighted product display window and a customer interface that is almost impossibly easy to use with a large LED display and multiple money acceptance options.

Security

If the security of your vending machine is a concern, it doesn’t have to be any longer – the unit features sturdy steel construction with durable powder coat painted surfaces, creating the type of vending machine that will dutifully serve you for years to come. A high security package is also available for additional protection levels.

With variability, versatility and functionality like this, it’s easy to see why 40 Selection Snack Vending Machine single handedly offers the best vending machine selection on the market today.

Posted on | by pmasters@wittern.com

How Are Millennials Driving the Vending Industry?

How Are Millennials Driving the Vending Industry?

Millennials, those coming into adulthood in the year 2000 and after, are driving the market across many industries including housing, technology, marketing, and even vending machine industry trends. As this group reaches maturity and have more disposable income, everyone is taking notice of how to market and sell to this demographic.

What Do Millennials Look for in Snack Vending Machines?

  • This generation has grown up with technology. Vending machines that provide fresh, affordable snack and beverage options at a touch of a button appeal to them.
  • The younger generations are more in tune with the impact that sugary sodas and snacks have on obesity and health causing the health market to be the fastest growing channel in vending machine industry trends.
  • Millennials rarely carry cash and prefer cashless options like Apple Pay, Google Wallet, and credit or debit cards; however, for low-cost transactions the probability of any consumer paying cash rises. A market savvy vending machine manufacturer will provide both cashless payment options as well as cash options that accept a wide range of bills and coins.
  • Providing mobile payment options also influences where operators place their machines. To complete a wireless transaction, consumers must have access to a clear cell signal, so locations such as basements where cell signals are at their worst are becoming less than ideal.

How Does This Change the Vending Industry?

Because the vending machine market is large, change will take time. Millennials are the perfect demographic for the vending market. They expect self-checkout options and as vending machine operators gather more data, micro-markets are expected to emerge.

The technology that serves the millennial generation so well is also helping the vending industry cater to them. Market analysts are beginning to predict a customer’s future possible purchases based on their past purchases. This data will help vending machine owners group products in a single machine that will encourage larger or repeat purchases from the same customer.

The convenience provided by technology also benefits machine owners. As owners provide machines that have wireless connectivity to allow cashless purchases for their customers, owners find that the same connectivity allows them to check machine inventory remotely. By knowing the machine’s inventory ahead of time, owners save precious time and money in restocking efforts.

As the nation’s leading vending machine provider, Vending.com sells and services snack and drink vending machines across the United States. Contact us at 855-712-8781 to see how we can assist you with your vending business.

Posted on | by pmasters@wittern.com

Investing in Used Vending Machines

When people think about used equipment, normally the images that immediately come to mind are negative ones. After all, who among us hasn’t purchased a used computer or television set or some other item over the years only to run into irritating (and costly) issues down the road? Certain companies are proving, however, that you need to throw these preconceived notions out the window – at least as far as vending machines are concerned. Investing in used vending machine equipment is a decision that brings with it a host of different benefits that can’t be ignored.

green check markBuying with Confidence

Companies like Vending.com take guesswork out of the equation by only selling used vending machines that have been factory remanufactured by trained professionals. Every snack machine, drink machine or other piece of used vending equipment is certified to meet industry high standards. Not only does this allow the machine to perform at peak efficiency at all times, but it also gives you the peace of mind that comes with knowing you’ve got a machine that you can rely on.

green check markWarranties

Another one of the reasons why it makes sense to invest in used vending machines has to do with the types of warranties that these items normally come with. Vending.com, for example, offers a one year warranty on all machines and a 90 day parts warranty on control boards, coin acceptors, bill acceptors and other important components.

green check markCost Effective and Environmentally Friendly

Perhaps the most important reason to invest in a used vending equipment has to do with the cost effectiveness of your decision. 100% vending machine financing is often available on these items and you’re usually getting a machine that is just as good as a brand new option at a drastically reduced price. Oftentimes it only requires as little as five sales a day to run into profits on these machines.

More than that, investing in used machines means that you’re also making the decision to recycle. These used machines go back out into the population where they can be of good use and they won’t sit in a factor (or a landfill) without a purpose.

These are just a few of the many reasons why investing in a used vending machine may be the right choice for your business. Not only do you get a high quality, factory remanufactured and certified piece of equipment, but you also get to add a well-stocked and properly executed vending machine to your business in the most cost effective way possible.

Posted on | by pmasters@wittern.com

Would Your Purchase a Drink From an Alcohol Vending Machine?

Vending MachineTexas has a standing reputation for promoting and starting some of the biggest ideas in the nation. Texan ideals often have roots in business and encouraging the growth of society; however, a recent proposal to introduce alcohol vending machines, as told by Eleanor Dearman, is causing a controversy in the Lone Star State. The idea of a drink vending machine is not uncommon, but an alcohol vending machine sounds difficult to control. To fully grasp how this would work and affect Texans, you must understand how the vending machines would function and how concerns over it would be addressed.

The Alcohol Vending Machine Functionality

Currently, clubs and bars check photo IDs at the door or when purchasing alcoholic beverages. In many cases, patrons are given a bracelet, which identifies minors from those above the alcohol-consuming age of 21-years-old. An alcohol vending machine would function on the premise of these bracelets. Those of legal drinking age would be given a bracelet by facility staff, which would allow them to obtain drinks from the vending machine. This ensures underage minors do not obtain alcohol from the machine. Furthermore, the machine would limit the number of drinks a person may obtain. For example, two drinks of liquor, 30-ounces of beer, or 10-ounces of wine. However, alcohol vending machines face much more criticism.

Potential Problems With an Alcohol Vending Machine

Although the facility staff will be responsible for issuing the bands allowing access to the alcohol vending machine, the problem of bracelet changing becomes an issue. What is to stop someone from obtaining a bracelet, which he or she then passes along to a minor? Immediately, this sounds like it will prevent alcohol vending machines from ever being installed. However, something similar occurs every day in alcohol-providing entities on the planet. Someone of legal drinking age could purchase a drink and provide it to a minor.

Additionally, bartenders and servers are expressing concern over the introduction of alcohol vending machines. These staff members make the majority of their living through tips, which the alcohol vending machine would essentially eliminate. Although the vending machine could not provide all of the drinks for an evening, it would cut down on the number of drinks poured by staff. Businesses face another challenge with the introduction of vending machines.

Some drinks may contain on a combination of five or more ingredients, and the alcohol vending machines do not currently have this capacity to produce such mixed drinks. Mixed drinks are extremely popular among college students, and the lack of mixed drinks could adversely affect a business’s profits for a single night of use.

As society has grown more comfortable with the idea of vending machine use across many industries, the alcohol industry stands on the edge of a new frontier. Only time will tell how the public responds to alcohol vending machines, and they may be an instant hit for those wanting a simple drink quickly. Will ordering drinks be as simple as pushing a button each time you go out in the future?

Posted on | by pmasters@wittern.com

The Healthiest Vending Machine, Ever

farmersfridgeMid-afternoon hunger pains? Mid-morning snack attack? Forgot your lunch? Imagine walking up to a vending machine during a quick work break, swiping your credit card, and getting a fresh salad for lunch.  For those seeking healthy vending machine options, the wait may be over. Chicago’s Farmer’s Fridge vending machine is hoping to make fresh food a reality throughout the Windy City.

Don’t think of Farmer’s Fridge vending machine as an ordinary snack vending machine. You won’t find any packaged snacks here. According to its website, it’s really a veggie and fresh salads vending machine. Founder Luke Sanders stresses the importance of freshness in his machine’s products.

Starting with salads and products that are made by hand each morning after the daily 5 AM delivery of vegetables and packaged in special glass jars, the salads are taken to Farmer’s Fridge vending machines where they will be offered for sale. At 6 PM each evening, the products at Farmer’s Fridge are discounted by $1.00. When the next day’s delivery arrives, employees remove unsold products from the previous day, stocking the machine entirely with new product. Unsold product from the fresh salad vending machines are donated to area homeless shelters.

These incredible products include a menu worthy of your favorite neighborhood eatery with salads, breakfast items, and protein pick me ups. For example,

  • Antioxidant Salad featuring mixed greens, goat cheese, mixed berries, almonds, carrot, sprouts and flaxseed with a balsamic vinaigrette
  • Detox Salad with organic kale, organic quinoa, sprouts, fennel, pineapple, blueberries, white beans and cider vinegar lemon dressing.
  • Greek Yogurt and Berries
  • Sliced apples with local honey and almond butter
  • Vegetable strips with hummus
  • Cauliflower Fried Rice with cauliflower, local peas, carrot, garlic and egg whites

Even the appearance of the Farmer’s Fridge vending machine is out of the ordinary. Saunders worked with a vending machine manufacturer to make his unique vision a reality. He envisioned a kiosk with sustainably sourced salads, environmentally responsible containers, and all at a reasonable cost. His machines are made from reclaimed wood, accepts all major credit cards, can email receipts, and features power consumption of less than $25 per month.

Saunders credits improvements in technology such as touch screens and less expensive credit card processing to his success. His company makes use of free technology like Google Docs to track recipes and inventory. Saunders also credits the city of Chicago for less expensive startup costs compared to other cities. For example the cost of the shared kitchen space his employees use daily to prepare product is about one-fifth of what it would be in New York City.

The ability to offer his products in an automated kiosk appealed to Saunders. While he estimates that his labor costs are very similar to those of a brick and mortar restaurants, the flexibility offered by a vending machine played a key factor in his decision. Given that vending machines are everywhere, having healthy options is a must for new players with ideas for a snack or drink vending machine.  Having expanded from three to 14 machines throughout Chicago in a single year, Saunders is proof that fresh sells.