Let’s face it. No one’s born knowing everything! So, we’ve put together this list of 10 mistakes of a novice vending machine operator, as a way of helping you learn as you grow.
Sure, your vending machine is going to pay for itself – eventually. But some novice vending machine operators genuinely believe that’s going to happen in 6 months (or even, overnight).
Realistically speaking, you should project your machine paying for itself in 12 – 14 months. Sit tight. Be patient. It will happen.
It’s tempting to go the cheap route with vending machines. The trouble is, you’re competing in a market with sophisticated machines. Your customers want to see that your vending machine is state-of-the-art and reliable.
Choosing a newer machine which offers reliable service brings customers to your machine.
Using bill validators and pay systems which are unreliable will soon drive away custom. Customers need to know that they’re not going to lose their money in your machine.
It’s kind of a no-brainer, so choose the right stuff in this respect.
Not buying your machine outright may seem like a good idea in terms of outlay, but it can lead to all sorts of problems (particularly if sales don’t go as planned).
Credit can come back to bite you with over-sized loan payments that may outpace your profits and that will delay your machine paying for itself. If you’re already anxious about that, best not to buy on credit.
Being optimistic is great, but is it realistic? While a bulk buy may save you some money, if you don’t have the right locations for all those machines, they may need to sit around doing nothing for awhile and that’s money you’ve spent for dormant machines.
Location is everything. Thinking carefully about where you’re going to place your money-maker is your first order of business. If it’s not in a high-traffic, visible location, how will people know it’s there?
Have you done the demographics on your location? Do you know what the median income is? If you’re putting a vending machine in a low-income area, you may be sorely disappointed, if the people in that area don’t have the disposable income to frequent your machine.
Product quality counts and if you’re putting generics in your machine, don’t expect it to fly into consumer’s hands. People want the genuine article because they know they can trust the brand.
Maintenance, service, and cleaning are the lifeblood of your success as a vending machine operator. Being lax about them will soon make your machine a “no-go”. People won’t frequent a machine that’s dirty or malfunctioning.
There, we said it! Vending machine success is yours, with the leaders at Bevco. Contact us to get started and discover the revenue-generating possibilities of vending machines.