As you embark on your vending machine business, one of the first things to consider is the location of your vending machines. This one decision makes a huge impact on how successful your business will be. Along the way, every other vending machine you add to your business will rely just as much on a great location.
So, how do you choose the best locations? Here is a list of factors that make a location great:
- High foot traffic (office building lobby, car dealer)
- Commercial building with at least 50 employees (hospitals, schools)
- Locations with sparse food and beverage options (gyms, motels)
- Places that require people to wait (repair shops, salons, laundromats)
Now that you know the basic guidelines for determining a great location for your vending machine, here are tips to land that prized location.
Approach New & Existing Businesses in Your Area
After you determine the geographical area to consider, approach businesses in that area that fit one of the guidelines above. A new business may not have a vending machine yet, and being the first one to ask is always a good thing! Existing businesses still might not have a vending machine, or they may want a fresh approach to what they offer to their costumers.
The business should also be an environment that attracts people who would purchase what you’re selling. For instance, a new yoga studio would have consumer who want healthy snacks or beverages, not sugary treats.
To help you find local businesses, you can contact your local chamber of commerce, join small business networking groups, and stay current on your local business journals.
You Found a Great Location. Now What?
Once you’ve found a great location for your vending machine, you’ll need to do research and have important discussions with decision-makers. Here’s what to do.
When you approach a business, be ready to sell yourself and your business. Wearing a uniform, having a logo on your letterhead, and leaving a business card are all factors that matter when you attempt to secure a location for your vending machine. Creating a sales presentation with handouts is also very professional.
Know Your Numbers
Before you sign any deal or agreement, be sure that the profit potential is there! A location might be a great idea, but the numbers are what will make it successful.
Throughout your quest for the best location for your vending machine, stay organized. Use a spreadsheet and take notes. The last thing you want is to be frazzled and disorganized when trying to land a great location and be successful.
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