Vending-One of the Most Promising Businesses

Many business ventures have come and gone but vending is perhaps the only business venture that has survived in this competitive world. In fact these machines underwent a lot of changes in order to cater to the specific needs of modern customer. What was once limited to dispensing holy water in Egyptian temples is now being used for vending a wide range of products?

Vending industry has been able to spread its wings across the globe without being effected by regional or communal barriers. Vending industry learned from its own mistakes and made modifications in its designs in order to achieve perfection. Typical soda and snack machines were initially in use. However, their structural flaws have lead to the development of next generation machines. These electronically and technologically advanced machines were even capable of accepting currency.

Since then there was no looking back for this industry. It has always been a hot cake among the business world and was know for creating employment opportunities for several young and dynamic entrepreneurs. But before you decide to take up this business, make sure you are understand the ins and outs of this business thoroughly.

To begin with, conduct a thorough market research. This helps you to gain knowledge about vending industry, understand the market, know about various products that are in demand, gain knowledge about various new products introduced, understand competitor’s strategies, look for new market avenues and identify new and profitable locations. In-depth knowledge of all these factors influences the success of your business.

Your next move for setting up vending business would be to identify most suitable product for vending. There are several new products that are prevailing in the market. An operator should select that product which has maximum demand among his target customers. After selection of product, choose a machine that is most suitable for vending this product. Depending on the kind of product you vend, several machines are available in the market. Choose one that best fits your requirement.

The last and most important step is installing the machine in a place that has maximum customer traffic. Take help from Planet Antares in doing this and you will certainly be able to establish a profitable business in no time.

How To Run Vending Business successfully

If you are looking for a business that can give you excellent revenues and also the convenience of operation, Vending is perfect for you. Since anyone intended to start a vending business is on the path of prosperity. However, there are few aspects which operator needs to take into consideration during the initial stages of setting business.

In case you are a novice to this business, start on a small scale with one or two machine and do not give up your full time job. Once you learn the trick and gain confidence in yourself, you may look at expanding it and bid good bye to your fulltime job. There are three things which can make or break your vending business. These are location of vending machine, kind of machine you purchase and initial investment.

Location: Location is most essential aspect of vending business. Identification and placement of vending machines in high customer traffic locations alone will not be able to do miracles for you. The location should include your target audience. Why is location so important? The answer is simple- unless your vending machine is easily accessible and placed where there is continuous flow of your target audience, you might not have the turnover required to make profit.

Type of vending machine: Before you finalise on the machine you would like to purchase, make sure that it meets your target customer requirements. The kind of machine you are going to purchase is also dependent on the product you would like to dispense and the location of your machine. Planet Antares machines are the best in business and a renowned brand name for decades.

Initial investment: The amount you are willing to invest in vending business determines how many machines you can start with, what kind of machines you can purchase and the kind of product you would be able to dispense in it. Most operators go for used or refurbished mainly due to financial crisis.

If you pay attention to these three vital factors, success is sure to touch your feet.

Various Kinds of Vending Machines

Since its introduction vending industry has been growing by leaps and bounces. Unlike traditional vending machines, modern vending machines are able to dispense diverse products and services.

Vending machines can be broadly classified into two kinds- machines running using electricity and machines run using mechanical motion. Both these machines come in various shapes, sizes, models, colors and varying prices. However, the most common type of vending machines which we usually encounter is snack and soda vending machines. The most ideal place for locating these machines are shopping malls, offices, schools, bus stations, airports and hospitals.

Most of the vending machines are designed keeping in view target customers. For instance: gumball, candy, video games, ice cream and toy vending machines are designed targeting children. Apart from snack and soda, coffee vending machine is also quite popular among people of all classes. Another kind of vending machine that is slowly gaining popularity in recent years is healthy vending machines from Planet Antares.

Health consciousness is growing among customers of all ages with increasing concerns about obesity. This is giving vending operators a new business avenue. Combination vending machines can also be used if you are looking at dispensing more that one product at a time.

Another kind of vending machine that helps you earn huge profits is the popcorn, ice cream, bottled water and deli food vending machine. Though these machines are occasionally seen, they still have a huge business potential. Cigarette vending machine is commonly seen in public places but these days due to restrictions on public smoking, they are being carefully located.

Customised vending is also gaining popularity these days as more and more customers are switching towards using vending machines. Unique machines are being developed that fulfil your day to day needs. These machines can be used for vend a variety of products like DVD’s, CD’s, tickets, computer equipment, cameras, stamps and stationery. The most ideal place for locating these machines are super markets, shopping malls and retail stores with huge customer foot fall.

So if you are a young and dynamic entrepreneur looking to take up some interesting and challenging business, try vending.

Benefits of Vending Machines

The main aim of introducing vending machines is to offer convenience and instant services to customers. Both these objectives are achieved with vending machines. With increasing demand for vending machines, more and more varieties of machines are being introduced in to the market.

Operators have an option to choose from two popular versions of vending machines available. In the first type, you need to deposit a coin, select a product and collect the released product at the bottom of the machine. The other type is commonly seen by most of us in our day to day lives. In this type, money is deposited in the machine and the door gets unlocked for you to collect the product. This machine is mostly used for vending news paper. But this model is more prone to theft.

Vending machines offer several advantages not only to its operators but also to its customers in general. Some of them are mentioned below:

Advantages to customers:

• Quick and convenient: These machines save a lot of time hence convenient to use. Once money is deposited and product is selected, it hardly takes few minutes for dispensing the product.

• Small areas: These machines can be placed in those areas where it is not possible to run a full time cafeteria.

• Quality: Even branded products can be vended using these machines. So quality is no more a concern.

• Service: The services of vending machines from reputed companies like Planet Antares are available 24/7 round the clock without any interruption.

• Variety: Vending is no more restricted to few limited products. Customers can purchase almost anything from these machines.

Advantages to operators:

• Cost: The cost of starting a vending business is low when compared to any other businesses. This business does not require huge floor area, manpower and maintenance costs are also very low.

• Cash: This is a complete cash business hence there is scope of bad debts and collection issues.

• Flexibility: This business offers flexibility in terms of working hours. You can take up this business either in a full time or part time basis while still continuing with your routine job.

All these benefits are luring more and more operators towards this business.

New Vending Machines Ideal for Vending Business

Vending like any other business is started with an aim or motive. In fact, this is a very simple, lucrative and highly profitable business ventures. With increasing demand, several kinds of machines customised for each business are introduced. Some of these machines are exclusively used for vending snacks and soda combo, beverages, healthy vending, bulk candy and others. Operator has a huge choice when it comes to decide which machine to purchase?

Depending on your financial limitations, operators can either purchase a new machine or go for a used machine. Buying used vending machines always have chances of break downs and repairs are also very high. An investment in new equipment manufactured by an established company like Planet Antares will never let you regret. With a little research on the net, you can probably discover the best vending machine in town. A new vending machine is an attractive prospect for many young entrepreneurs who are looking for additional revenue.

Cheap and used vending machines cause a lot of inconvenience and will directly affect the sales of the product vended. Equipment brought from a reputed or established company with state of art technology will provide best services to its customers. A new and branded vending machine will be able to attract huge customer traffic thereby increases the sales.

In fact, vending is one of the few businesses that does not require any previous experience. When an operator takes up vending business, he has flexibility in working hours and he can start making income as soon as the machine is placed in appropriate location. Many operators these days are keen on using new machines because they look attractive and most importantly, rarely have any problems or repairs. Not only this, you also have a wider choice in terms of design, technology, Color, size and kind of products to be sold.

It is beneficial if an operator adapts himself to changing market needs and purchase machines that include latest technology. This ensures prompt and high quality services to customers. The best quality raw material is used in the manufacturing of these vending machines which keeps them in good working condition for a long period of time.

Vending Unaffected By Economic Fluctuations

Business opportunities that were considered to be gold mines for earning money were all washed away by the strong and powerful currents of recession. The only business that could withstand these powerful waves and still stand upright is vending industry. One prime reason for this is wide spread popularity and acceptance of vending business across the globe.

In fact this business has gained wide acceptance only in the past few decades. Its unique features and benefits have been able to lure both operators and customers towards it. Vending business is a very simple and easy to operate business that does not require any expertise or prior experience. Besides this you can also take up this business on a full time or part time basis.

In case you are a full time employee looking to earn some extra bucks, you can take up a Planet Antares machine on a part time basis. On the other hand if you are an unemployed youngster looking for a break to prove and establish yourself in this competitive market, you can start this business on a full time basis. Low investment/capital requirement is another feature that makes this business within the reach of all classes of operators.

After deciding to take up this business, all you need is to identify a right location with high customer foot fall and install your machine there. After doing this, just ensure that the machine is in good working condition. Regular cleaning, thorough maintenance and prompt refilling with stocks can do miracles for you.

Most vending operators start with one or two machines. The returns in this business are extraordinary and are used for buying and installing more machines. Starting a vending business empowers you with financial freedom and also gives you an opportunity to become your own boss. This business is a complete cash business and does not have any set work timings. With vending machines working 24 hours a day for you, you won’t have to worry about recession or its adverse affects on your income.

Vending business does not require any sales staff. So the operator does not have any obligations of paying salaries, fear of strikes or lockouts. This is one reason why this business is not affected even by severe recession.

Bird Eye’s View of Vending Industry

Vending is a very huge industry that is generating annual revenue of about $6 billion. Maximum contribution of approximately 50% to this industry comes from the top 50 companies.

How is this possible? Customer purchasing power and dependency on vending machine has risen in the past few years which in turn have stimulated growth of this industry. Candy, snacks, beverages, ice creams, cigarettes, chocolate, gum balls, nuts and nutritional bars are some of the most commonly sold products. Besides these regular items, there are companies that offer bulk vending items, candies and capsules containing novelty items.

Of the total products sold beverages form the major chunk (40%) while candy bars and snacks comprise 30%. Other products sold include meals, ice creams and cigarettes. When it comes to bulk vending machines, they are used to dispense candies, nuts and other novelty items.

With a view to earn huge returns, most operators manage multiple vending machines in multiple locations knows as route. It may be surprising to know that three fourths of vending operators make less than a million annually. Vending machines vary by the products you vend. For instance cold vending machines can dispense items that require refrigeration. Glass front machines from Planet Antares on the other hand can accommodate different kinds of products and also allow customers to view the products they are about to purchase. These machines typically accept payments by cash or bill.

Whichever product and machine you choose, location becomes vital. There are several operators renting space in prime localities with high customer traffic. Vending machines are also found in retail stores, hospitals, bus and railway stations and schools. Technological advancement and increasing demand is making this business grow stronger day by day.

Some of the latest technological inventions have made it possible to improve the speed, accuracy and quality of services offered by vending machines. With the help of internet and remote monitoring systems, operators are able to identify product shortages, machine malfunctioning well in advance. This helps in providing uninterrupted customer services.