How to Open & Operate a Financially Successful Vending Business: With Companion CD-ROM

Overview

Do you want to own a business that does not confine you to a desk, where you are able to make your own hours and as much money as you want to work? According to the U.S. Department of Labor’s most recent statistical data, the median annual income of someone in the vending industry is $29,000 and, as a business owner, you could make even more. If this sounds like something you would enjoy, and you are thinking about opening a vending business, then we have a book that will answer...

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Overview

Do you want to own a business that does not confine you to a desk, where you are able to make your own hours and as much money as you want to work? According to the U.S. Department of Labor’s most recent statistical data, the median annual income of someone in the vending industry is $29,000 and, as a business owner, you could make even more. If this sounds like something you would enjoy, and you are thinking about opening a vending business, then we have a book that will answer all of your questions.

From start-up costs to vending machine best- sellers, this book will be your comprehensive guide on how to make the most money in a short amount of time. This complete guide will take you step-by-step through the process of buying new or used vending machines, acquiring a previous route from another business or finding new clients of your own, and how to efficiently service your machines in order to make the most money.

Additional information is included on buying products for your machines, including how to get the most for your money and how warehouse retail stores can save you hundreds of dollars. This complete manual will arm you with everything you need, including sample business forms; contracts; worksheets and checklists for planning, opening, and running day-to-day operations; lists; plans and layouts; and dozens of other valuable, time saving tools of the trade that no business owner should be without.

A special section on what items typically have the highest sales in vending machines is included, as well as sections on storage ideas for keeping your product fresh, when to reorder product, and how much back-stock to keep depending on the number of clients you have.

While providing detailed instruction and examples, the author leads you through every detail that will bring success. You will learn how to draw up a winning business plan (the companion CD-ROM has the actual business plan you can use in Microsoft Word™) and about basic cost control systems, copyright and trademark issues, branding, management, legal concerns, sales and marketing techniques, and pricing formulas.

In case you decide to open a full-service business, you will learn how to set up computer systems to save time and money, how to hire and keep a qualified professional staff, how to meet IRS requirements, how to manage and train employees, how to generate high profile public relations and publicity, and how to implement low cost internal marketing ideas. You will learn how to build your business by using low and no cost ways to satisfy customers, as well as ways to increase sales, have customers refer others to you, and thousands of great tips and useful guidelines.

This manual delivers innovative ways to streamline your business. Learn new ways to make your operation run smoother and increase performance. Successful entrepreneurs will appreciate this valuable resource and reference it in their daily activities as a source of ready-to-use forms, Web sites, operating and cost cutting ideas, and mathematical formulas that can easily be applied to their operations. The companion CD-ROM contains all the forms in the book, as well as a sample business plan you can adapt for your own use. The companion CD-ROM contains all the forms in the book, and also a sample business plan you can adapt for your own use.  The companion CD-ROM is included with the print version of this book; however is not available for download with the electronic version.  It may be obtained separately by contacting Atlantic Publishing Group at sales@atlantic-pub.com

Atlantic Publishing is a small, independent publishing company based in Ocala, Florida. Founded over twenty years ago in the company president’s garage, Atlantic Publishing has grown to become a renowned resource for non-fiction books. Today, over 450 titles are in print covering subjects such as small business, healthy living, management, finance, careers, and real estate. Atlantic Publishing prides itself on producing award winning, high-quality manuals that give readers up-to-date, pertinent information, real-world examples, and case studies with expert advice.  Every book has resources, contact information, and web sites of the products or companies discussed.

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Product Details

  • ISBN-13: 9781601382788
  • Publisher: Atlantic Publishing Group Inc.
  • Publication date: 11/15/2010
  • Pages: 288
  • Sales rank: 765,891
  • Product dimensions: 5.90 (w) x 8.90 (h) x 0.60 (d)

Table of Contents

Foreword 13

Introduction 17

Chapter 1 Vending: Your Path to Independence 23

Successful Entrepreneurs are Made - Not Born 24

Abe, Tom, and Donald 25

This is serious business 26

Are You Entrepreneur Material? 27

Minimizing your risk 28

Not for the Nine-to-Five Crowd 31

Vacations are a thing of the past 31

Sleeping in is not an option 32

Chapter Takeaways 33

Chapter 2 Business Strategies 35

Going It Alone 35

What is in a name? 36

The risks 37

Bringing Along a Partner 38

Partnerships 38

Limited liability companies 39

Corporations 41

Chapter 3 To Buy or Not to Buy? 45

Beware of the Blue Sky 45

Buying an Existing Route 47

Blazing Your Own Vending Trail 50

Finding Your Vendors 51

Mechanical versus electronic vending 52

Safeguarding your machines 54

Leased beverage and bottler-serviced machines 56

Chapter 4 First Things First 61

What is Your Mission? 62

Crafting a business plan 63

Writing Your Game Plan 65

Cover page 66

Table of contents 66

Executive summary 67

Business overview 67

State of the industry 68

Competitive analysis and market strategies 68

Operations plan 69

Management 69

Company finances 70

Chapter 5 Before You Launch 73

Get Your Financial House in Order 73

Requesting a Loan 75

If the loan fits 77

Leverage the SBA 79

Protect Your Biggest Assets 81

How many machines do you need? 82

Chapter 6 Finding Locations 85

In Search of a Good Location 85

Locating on your own 86

Making a house call 87

Cold-calling hints 88

Spare your ego and try direct mail 89

Preparing Your Location Sales Pitch 93

Paying for Location Help 96

Beware of contract locators 96

Telemarketing or mailing service options 97

Charity sponsorships and commissions 98

Chapter 7 Choose Your Vending System Wisely 105

Vending on the Honor System 105

Gumballs are still a favorite pastime 109

Vending for High-Traffic Locations 110

Fun-Size Vendors: The Big Three 113

Snack and Beverage Vending 114

Full-Line Vending 116

Amusement Vending 118

Making It Legal 120

Finding Your Own Vending Niche 122

Chapter 8 Servicing Your Machines 127

Service Must-Haves 127

Routine Service for Your Machines is a Must 129

Machine delivery and setup 131

Maintaining the Relationship 133

Refund policies should be clear 133

Outsource your refund processing 135

Keep Your Vendors Vending 136

Have your repairperson on speed dial 138

Chapter 9 Merchandising and Inventory Control 141

Make Your Planogram Work for You 142

It is All About Your Products 144

Practice makes perfect 148

Protecting Your Products 149

Bringing Up Sales 151

Know your users 152

Consider prizes and giveaways 153

Moving Your Stock 155

Minivans and cargo vans 156

Step vans and box trucks 157

Outfitting Your Service Vehicle 159

Chapter 10 Growing Wisely 163

Plug In to Your New Industry 165

Stay Small or Grow Big? 166

Hiring from the general public 169

Keeping Your Employees and Company Safe 171

Adhering to OSHA standards 172

Paying Wages and Benefits 173

Payroll Taxes 177

Is It Time to Take on a Partner? 180

Naming your partnership 181

Getting Additional Help 182

Chapter 11 Off-road Requirements 187

Reloading and Restocking Your Service Vehicle 189

Time for the office chair 190

Marketing Your Business 192

The tried-and-true business card 192

Social networking 193

Magnetic signs, brochures, and Web sites 194

Media marketing 196

Be Your Own Public Relations Firm 197

Submit a query letter 197

The pertinent press release 198

Keeping Your Paperwork in Order 201

Self-employment Taxes 202

The Schedule C 203

Vehicle Use: Personal or Business? 205

Appreciate your depreciations 206

Calculating Year-end Inventory 206

Automate Your Accounting 208

Control Your Costs 210

Outfitting Your Home Office 212

Chapter 12 Exploring Other Options 217

Getting Your Feet Wet 217

Providing the Industry Infrastructure 220

Take a repair course 221

Put on a trade show 222

Chapter Takeaways 223

Chapter 13 The Future of Vending 225

Survey Finds Operators in Balancing Act 225

Niche Marketing: Find the Next Wave 228

Technology and target marketing 230

Chapter Takeaways 231

Chapter 14 Putting the Pieces Together 233

Business Mentality Required 234

Location, Location, Location 236

Your Vendors and Style of Vending 237

Transporting and Managing Your Goods 239

To Grow or Not to Grow 241

A Choice of Vending Careers 243

Conclusion 245

Appendix A Sample Business Plan 247

Appendix B Vending and Business Resources 259

Amusement Machines 259

Bill and Coin Receptor Repair 259

Bulk-Vending Machine Manufacturers 259

Bulk Vendors and Products 259

Business Mentoring 260

Business Incubators 260

Business Startup Advice 260

Coin and Currency Counters 260

Computers and Peripherals 260

Computer Desks and Other Office Equipment and Supplies 261

Credit Reporting Agencies 261

Employee Handbook Templates and Advice 261

Employee Health and Safety Resources 262

Honor Snack Tray Companies 262

Kiddie Rides 262

Kosher Vendors and Products 262

Locating Services 262

Natural and Organic Vendors and Products 263

Service Vehicles 264

Vending Business Software Programs 265

Vending Industry Advice and Telephone Consultations 265

Vending Industry Information 265

Vending Machines (New and Used) 266

Vending Massage Chairs 267

Vending Trade Organizations and Related Web Sites 267

Web Site Design and Hosting 268

Glossary of Vending Terms 269

Bibliography 281

Author Biographies 283

Index 285

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Sort by: Showing all of 2 Customer Reviews
  • Posted August 9, 2012

    This book opens with an assessment for whether becoming your own

    This book opens with an assessment for whether becoming your own boss is your best option. Through clear detail, the book provides options on which route is the best option for starting this vending business. These options explain the possible pitfalls of working with a partner. The book also provides a risk assessment and a guide to creating a business plan for your vending business. It also provides insight into the best methods for acquiring new clients and locations for your vending machines. I found the section on bringing up your sales especially helpful. This book further explains in a direct manner the best methods for maintaining your business and protecting your product. It is by far one of the best guides for anyone who wishes to start a vending business.

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  • Posted July 27, 2012

    How to Open & Operate a Financially Successful Vending Busin

    How to Open & Operate a Financially Successful Vending Business is not some "make it rich, overnight" scheme.

    Instead, this informative guide pulls no punches and offers you practical and easy to follow directions to assist almost any sized budget and the desire to succeed.

    A few pages in, there is a quiz on entrepreneurial readiness. Then the book describes some of the harder aspects of owning a vending business - like transporting cases of sodas in hot weather or servicing an older machine. Continue to feed your enthusiasm by learning the vast array of available vending opportunities from the most popular snack and beverage to impulse vending units such as Love Meter and Talking Gypsy.

    Nothing escapes the authors' attention. They write about finding financing, setting up business partnerships and how to navigate through governmental paperwork and taxes. Also discussed are securing locations, creating persuasive marketing tools, and bettering negotiation techniques.

    Every chapter ends by reiterating its important takeaways.

    The bonus CD contains all the forms mentioned in the book, plus an editable business plan.

    Even if you never sell a chip, a cup of coffee, or a condom out of a vending machine - the lessons gained through reading this book can benefit in other business ventures as well.

    Was this review helpful? Yes  No   Report this review
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