One of the many advantages of the healthy vending machine business is that it’s scalable, meaning you can grow your operations when you’re ready. And we know how to grow your vending business – add more locations, offer new products, upgrade your machines, and serve more niche markets. But another question remains: When? It’s not always easy to know if you’re ready to scale up or not.
Here are three signs you’re ready to scale your vending business:
You’re surpassing your business goals.
Any entrepreneur worth their salt will frequently be checking their numbers, evaluating how their business is doing, and seeing whether they’re meeting – or exceeding – the goals they’ve set. If you’re meeting all your goals or beating them, it’s a good sign that you’re ready to grow. And remember: When setting goals, make them attainable but still challenging. Goals that are too easy won’t foster growth. Goals that are challenging but attainable push you forward.
You’re working from a proven concept.
Ask yourself the simple question: “Do I have proof of concept?” Is your vending business working? Are customers buying? Are your locations proving valuable? If things are working now and you have the infrastructure in place to scale up, do it – you’ve proven that your business model works, and that’s a high bar for any entrepreneur.
Your risk is low.
Risk is inherent in any business. Yours is no exception – but knowing how to manage it and when the right time to make strategic moves will serve you well. Scale up when you feel that the risk is minimal. For example, assess the risk if you’re adding more machines in a new location you haven’t served before. What happens if the locations don’t pan out and the machines don’t make much money? Will it have that much of a significant impact on your operations, or is it worth the risk?
Scale Up With the Support of Naturals2Go
Are you ready to scale up your business? You don’t have to go it alone. We’re here to help! Contact the Naturals2Go team to learn more and get started.