Some common mistakes made by new vending operators

Most starters in the vending business make some crucial mistakes. Starting a business on the right note is very important for the overall success. If you are looking to start a vending business, make sure that you don’t get trapped by the vending scams. It will be wrong to assume that vending industry is exempted by dishonest schemes. Most vendors fall for the bait of earning easy money. Fake offers lure them to an extent that they oversee the importance of cross checking the company’s authenticity.

Below are some common mistakes that are made by operators. Understanding them before hand will help you establish a profitable vending business.

1) Believing fake promises: Tricksters will promise you that your vending business will allow you to make money while you sleep. Accepting these promises without carrying out any research will lead you in big financial troubles. Planet Antares Corporation would provide you all the necessary information regarding vending business. It is important to understand one universal fact that some efforts have to be made to achieve success. Through a proper market research you can avoid the scams that are quite common in the vending industry.

2) Lack of accounting knowledge: Lack of accounting knowledge is one of the biggest causes of small business failure. You can’t get from one point to another without a basic understanding of the accounting process. Expansion of a vending business can only take place if you have required accounting information of your business. Lack of accounting knowledge will impact profits in your vending business.

3) Under Capitalization: Another common mistake made by a number of operators is to think that a vending business doesn’t require sufficient capital investment. You will need to accumulate enough capital for your vending business to support a profitable growth rate. The operator can start the business as a part time business, until the route gets established.

4) Offering low prices in the beginning: There is no doubt that vending can be started with minimum overheads. This may force the operators to think that they can afford to offer lower selling prices. The operator can afford to do all these things only if the business has grown substantially and is making profits. When the operator hires the first employee, the business has to be profitable enough to support the owner/operator and the employee.

5) Buying refurbished equipment: Many operators purchase old vending machines to save money. These machines usually have low capacity and are faulty. They have out dated technology with very less scope of growth. New vending business owners are often susceptible to fake claims regarding used machines. It is always advisable to buy new vending machine like those provided by Planet Antares.

Say no to used vending machines

Many new vending operators, who have a tight budget, think of buying old and used vending machines. Such machines are cheap and easily available. They are of an opinion that productivity of the used machines will be same as compared to new vending machines. But buying old and refurbished vending machines can turn out to be a nightmare for your vending business. The losses incurred due to such machines can cost you even higher than buying new vending machines. Planet Antares always suggests you to buy new vending machines to achieve success.

Used or refurbished vending machines generally have a lot of problems and can give its owners a hard time. Your dream of making profits can shatter, if you don’t make a wise decision of buying new machines. In order to save few dollars, you may end up loosing even more. Say no to used vending machines because of following reasons:

• Used vending machines have outdated technology with very less scope of advancement.

• Parts of the equipment are often faulty and temporarily repaired to sell them.

• Faulty equipments result in frequent break downs. Your business will face a setback even before it started making profits.

• These machines are usually discarded by their previous owners because of some problem.

• Old machines carry no warranties. Thus cost of any damage in the machine will have to be borne by the vending business owner.

• Power consumption of used machines is often high which leads to high electricity bills.

• Most of them are bulky and difficult to be installed at compact locations.

• The exteriors are worn out and you will loose all the potential customers.

Buying refurbished machines has only negative points attached to it. Whereas buying new machines at little higher prices will be profitable in the future. Purchasing from a reputable vending machine company like Planet Antares will help in building a profitable vending business. The machines are durable, state of the art and reasonable. The benefits of buying new vending machines are numerous and enable you to start your vending business on a right note.

Key To Successful Vending – Identify Your Customers.

Since the start of the vending industry, more and more people are relying on vending machines as their primary snack source. The $40 billion industry is serving millions of customers. Now more than ever, these machines are able to supply people with just about anything they want to eat. Savvy vending operators know how to give their locations what they want. Customers are the prime focus of every business if they want it to be successful.

Get to know your customers when you start a vending business. A few things to keep in mind are providing your location with the right vending machine for your vendible products, the best resource from which to purchase your products and what top national name brands to stock your machine with. Not to mention the standard financial needs to run your business, the target consumers and your target market. Identifying your consumers and their needs makes the vending business that much easier to manage.

The location’s employees can help you with other factors related to vending. The decision regarding the type of vending machine, the location, the products and brands to be vended are all simplified with knowing what the employees would most like to eat. Every group of employees has different preferences and the vending operator should pay attention to this in order to provide the best product to satisfy their demand.

Products such as candy and cold drinks target children of all age groups, whereas energy drinks and snacks are more appealing to youth. Working people might ask for healthy snacks or drinks when they are on break and want some refreshment. Fill your machines with the most popular brands out there. Apart from choosing a strong business location, the machine’s accessability should be considered when installing your machine.

Your customers will include anyone from children, employees, housewives, shoppers, teenagers, etc. Not paying attention to your location’s needs could hurt your business’ growth. Make sure that the machines are well stocked and do not cause inconvenience to the vending customers.

Planet Antares’ support staff helps you to find prospective customers and provides tools to make them happy. Happy customers are loyal customers. The expert guidance of the Planet Antares customer support staff is there to help you build a successful business.

Phases In Vending Evolution – History Of Vending Machines.

Almost everyone is aware of the success of the vending business, but few know its background. The emergence of vending goes back to 215 B.C. with a reference to vending machine in the work of Hero of Alexandria. A machine was designed by a first century engineer and mathematician, which dispensed a fixed amount of holy water after a coin was inserted in it. Despite this early appearance, year 1880 saw the real break through in the vending, when the first modern coin operated machine was introduced in London, England. This machine dispensed post cards. Chinese inventors developed a coin-operated pencil vendor in 1076 A.D. Coin-activated tobacco boxes appeared in English taverns during the 1700s.

Vending is a process through which merchandise is obtained through machines on the insertion of coins or bills. This process is also referred to as automatic merchandising as goods are sold without the physical presence of a cashier. The vending business has evolved substantially since its inception. The first vending machine in United States was located at subway platforms in New York City. It was invented by Thomas Adams Gum Company in the year 1988, which vended Tutti Frutti gums.

In 1907, a gumball vending machines were introduced. In the early 1920’s, the first automatic vending machines started dispensing soda into cups and in 1926, an American inventor named William Rowe invented the cigarette vending machine. Machines which dispensed soft drinks in cans and talking vending machines were invented in 1965 and 1981 respectively.

Vending machines are now available in varied size, format and style. The ability to vend almost everything has made these machines widely popular. Modern vending machines come with up to date technology in order to make vending easy and reliable. Products such as snacks, beverages, candy, stamps, post cards, newspapers, books and even gadgets are vended through these machines.

Vending has grown exceptionally to $40 billion industry. The stalwart position of Planet Antares in the vending market is the result of the dedication and hard work put in by the whole team over the period of twenty years. Since 1986, it has made its presence felt in the market through an established network of distributors and customers. People have grabbed the opportunity of starting a home-based competitive business with both hands and felt the change in their lives at personal as well as professional front.

Planet Antares assists you to become a successful part of the growing vending industry. The operators benefit through the association with reputed Planet Antares. The State Of The Art technology introduced by Planet Antares is unique and provides an edge over the competition. The successful historical background of the Planet Antares and its evolution makes it the most viable business option.