Bulk Vending - Run it like a Business and Enjoy the Extra Profits

Bulk Vending Business Practices

There's a whole host of bulk vending operators out there who pretty simply do two things: Collect the quarters and fill the machine with product.  To run ANY successful business, it is necessary to think beyond the physical tasks of running the routes into the business strategy side.

There is a great temptation for gumball and candy vending machine owners to ignore the finer points of doing business because the bulk vending business is pretty easy.  There are a number of things that if you work on them, will improve your bottom line.  Agreed, these may seem boring, hard, demotivating, or otherwise negative, but taken together they can really increase cash flow and bring a better return to your business investment.  Here are a few of the things you need to incorporate, even in a limited way:



Ten Good Business Practices:

  1. Inventory management/control
  2. Financial planning, including developing an exit strategy for the business
  3. New Acquisitions (purchase new routes)
  4. Long-term asset upkeep (Keeping machines in working order long term)
  5. Insurance needs for the Business owner (health, life, disability, etc)
  6. Price point experimentation (Can I sell my products at .50 or 1.00?)
  7. Depreciation schedules on my equipment 
  8. Hiring employees or a CEO to run my company (if large enough)
  9. Outsourcing tasks you currently perform (administration, printing, accounting, finance tracking)
  10. Inflation - projecting how it will affect me in the coming years
It's very tempting to just see yourself with a bunch of gumball and candy machines instead of having a real bulk vending business.   You can have the business mindset though with just one machine.  It's your choice on how you see yourself.  The power of having a business mindset focuses your efforts into growth and causes you to think critically on how to increase your profits.

In conclusion: DON'T ROB YOURSELF of developing extra cash flow because you're running your business as a hobby.  Think, strategize, plan and increase your returns.  You'll be glad you did!

0 comments: