One of the biggest benefits of having a national vending program is the consolidation of commissions from all of your properties. Instead of having a few bucks going here and there, only to be spent on who knows what, receiving one commission check each quarter for all your vending machines gives you better insight into the revenue your vending program generates.
It also provides you with an opportunity for that extra revenue have a bigger impact. For example, if your company has a hundred locations, each with vending on site, and the commissions go to the properties themselves in sums of $10 for one, $50 for another, $110 for a third and so on, there’s not much of an impact that revenue will have. In aggregate, however, there’s quite a bit you can do with extra cash from all your locations.The question then becomes, what do you do with this extra cash? An extra $10K+ is nice at the end of the year, but how should you spend it? Here are four ways companies can use the ancillary revenue generated from a vending machine program.
1. Donate It
Donating to charity is a great use of the extra revenue you get from a vending program. Aside from supporting a good cause, social responsibility has numerous benefits, including:
- More engaged employees
- Positive public perception
- Loyal customers
2. Spend It On Employees
Showing employees they are valued increases their engagement. That’s why showing your appreciation for their hard work is essential to a happier workplace, and why you shouldn’t save it all for employee appreciation day.
There are many ways to show your appreciation throughout the year, such as:
- Retreats
- Parties
- Dinner/lunch
3. Customer Appreciation
Providing great service isn’t enough these days. It’s expected. To truly build a loyal customer base you need to show your appreciation. Just like employee appreciation, proving how much you value your customers in various and creative ways keeps them engaged and more likely to recommend your company.
The ancillary revenue generated from a national vending program can easily be used towards showing your customers just how much you appreciate them.
4. Invest in your company
Innovative companies are often market leaders. But to be innovative takes an enormous amount of resources, and resources takes money. The extra cash generated from your vending program can be put towards developing a new product or service.
