Want to take your vending machines from snack dispensers to profit machines? It's time to maximize your vending profits, and we have the tips and tricks to make it happen!
We already know that the global vending market is poised for massive growth over the next few years. So whether you already have vending machines on your premises or multiple properties, or you are considering investing in a vending option, there are a few best practices. Take it from us, we’ve been in the business for over twenty years! So we wanted to pass on some of our tips to making the most out of your vending machine with increased profitability.
Location, location, location!
When it comes to vending machines, location is critical to earning potential. Think about areas of your property where there is the most daily foot traffic. Vending machines can come in a variety of shapes and sizes, so you’ll want to be sure you have someone measure the space accurately and get the right machine to fit your space.
If your locations are hotels, we suggest having your machine(s) in the lobby, business center, and in the elevator areas. The more easy they are to access, the better. For multi-family housing complexes, the clubhouse and any communal areas like the gym or a pool are great options. Anywhere that people tend to gather or pass by frequently. Vending Group can help you assess your space to get the right sized vending machine and ensure they are set up optimally.
Choosing the Right Products
Put yourself in your customers’ shoes. Whether you manage a hotel chain or handle multi-family housing facilities, you’ll want to think about what will most appeal to the people passing the machine.
Of course, we know a few products tend to be big money-makers! Healthy vending options have been increasingly popular, as are varied drink options with lower sugar levels or additives. You’ll want to keep the classic water and sodas, but mixing it up with some healthier beverages (that may have a higher price tag) will contribute to your vending program’s profitability.
We also suggest you vary your selection frequently. While healthier items are rising in popularity, sometimes, when people see a vending machine, they want their classic junk food offers. To maximize your vending profit, offering a healthy, variable mix of salty, sweet, healthy, and classics is best.
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Marketing and Promotion
If you already have a vending machine on premises, you can certainly encourage your guests or residents to take advantage of it and actively seek out their input on what they want to see in the machine. This can be a great way to encourage engagement and draw attention to the fact that the vending machine is available and is there FOR them. Show that you’re trying to make the customer experience better overall for everyone, and explain how they can make suggestions for improving the experience.
Partner with a Vending Management Company
Of course, the best thing you can do to maximize your vending machines is to invest in a vending management program. If you only have a few machines on a single property, vending management can help property managers and personnel receive 24/7 customer support for any service requests. They don’t have to spend time or energy dealing with vending issues so they can focus on their core job and keep guests or residents happy.
If you have multiple properties, then a vending management program to maximize vending machine profit is a no-brainer. A national vending management program can help you to centralize all of your vending paperwork so you’re only dealing with a single point of contact for national vending requests and detailed revenue reporting for all of the machines at all of your properties.
So, how does it work? You’ll start with a site survey. A vending sales representative will come to analyze your site(s) to ensure there is sufficient foot traffic for the machine to be profitable and sell the selected products before they expire. They’ll also want to ensure the site is safe and the machine will not likely be vandalized. Once your location is approved, Vending Group’s operator will come to survey your site, and within a few days, you’ll be informed of when the installation can occur. The setup time is about four weeks, and is handled primarily by the operator and Vending Group. You can forget about it and just wait a few days to start seeing your revenue grow!
Vending machine profit can be a great boost to your business, whether national or local. Working with a team of professionals can help you maximize your vending machine profit and remove any stress concerning managing your vending services.
If you’ve read to this point, we think you’re ready to get started. Contact us and learn how to boost your vending machine profit now!