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Turn Your Vending Machine Business Around

Jan 15, 2008
If your plans for a wonderful vending machine business didn't work out you should consider giving it another chance. Too many people in this position lose confidence in themselves. Yet the problem is with the information they had and not with their desire to be a good businessman.

There are plenty of scams out there when it comes to the vending machine business. You will find people promise to find you locations but they don't. If they do follow through the locations they find aren't going to be anywhere that make you a great deal of money. It can be depressing to find that you spend more in gas to fill up the vending machines than what you found in profits waiting for you.

Make sure you spend time observing traffic in the morning and the evening hours. You also need to try out various days of the week including the weekends. There can be a significant change from one day to the next and from time of day to the next. To evaluate a given vending machine location based on just a brief observation isn't going to be reliable.

Since you can't just put vending machines any place you want you will next have to talk with the person that is in charge of that decision. Know what you are talking about when you approach them. They need to realize that you are serious about your business and that you are well informed. Work on your communication skills if they are rusty so you can forge a good relationship.

The bottom line that they are going to be interested in though is the amount of money they can make off the deal. You want to give them as little as you can get away with but you need to be realistic. Crunch the numbers so you know what is fair. Some people like to offer a percentage of the profits while others are more likely to commit to a set monthly amount.

After the specifics of the agreement have been reached you need to put them into a contract document. You can easily type this up on your computer. It will be legally binding though and both parties need to sign it. If you need to add information later you can make an amendment that both of you need to sign as well.

Things can go very smoothly once all of these things are taken care of. However, you still need to safeguard yourself against loss. Vending machines can be targets due to the products they have inside or for the money in them. Vandalism can happen just because some people think it is cool. Take precautions to help minimize the chances of these events happening to your vending machines.

If your initial efforts to have a successful vending machine business didn't work out there is still hope. You just need to have the right information this time. It is a business that does require some planning and some paying attention to detail. You can make it work though if you have good information and a desire to succeed.
About the Author
Robert Farnham - veteran vending business operator and author. He now writes articles and gives advise to new operators to help them avoid vending locating businesses nightmares, and the best way to find great
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