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Topics Covered
The
Vending Industry Today
Overview
of the vending industry including advantages of owning your own business.
Getting
Started
What
you'll need to get up and running as well as realistic information on what
you can expect from the business.
The
All-Important Location
Common
mistakes to avoid when first starting out including purchasing machines ahead
of the location, trying to place machines in locations without any current
vending, and being intimidated by large operators.
Also
includes information on:
- How to locate
- What locations identify
- Methods for generating
leads
- Using locating services
- How to evaluate a location
- Deciding a commission
- Using contracts
- What happens if you lose a
location
- Building a route
efficiently
Purchasing
Equipment
Covers the basics of selecting
the right equipment for you and your location.
- Buying new or used
equipment
- What size of equipment is
right for a location
- How to estimate the
profitability of the equipment based on location
- Options of financing
equipment
- Installing machines
- Repairing machines
- What other equipment you'll
need to move equipment
Merchandising
Locating
and placing machines is the first step, now learn what it takes to ensure the
best sales you can.
- Buying products
- Using planograms
- Comparison shopping
- How to set vend prices
- Preventing product waste
·
Raising your prices
Route
Service with a Smile
Service
is what keeps a location. Learn the
best practices in route and customer service to keep your customers happy.
Finances
and Accounting
Know
what accounting procedures you should follow to keep track of you profits and
keep on the government's good side.
- Profit and loss statements
- Balance sheets
- Cash flow statements
- Sales logs
- Taxes
Planning
for Expansion
It's
easy to get caught up in the day to day operation of your business and
neglect long term planning. This
section covers business plans and objectives.
Glossary
of Terms
The
vending industry uses quite a few technical and business terms you should
become familiar with if you plan on interacting with suppliers, manufacturers
and service providers.
Business
Form Samples and Templates
Supplied
in Vending the Right Way
are basic forms and templates for securing locations, servicing,
merchandising, and accounting for your business. Use them until you get more comfortable
with the process and modify to suite your needs.
- Client and Location Forms
- Client Detail Form - Keep a record of your client and all the details
of your service for them.
- Refreshment Survey - Why guess at what your
customers want. Provide them
with this product survey and let them tell you.
- Vending Service Agreement - Use this form to record
the details of the agreement reached by you and a location.
- Notice of Removal - If a client is willing
to switch to your service from another vending operator, give your
client a form letter like this one to notify their former service of
their decision.
- Sample Planogram - Plan out your product selections for easy
tracking of sales and pricing.
- Vending Customer
Questionnaire - Use this form to survey
employees at your vending sites to gauge their level of satisfaction
with the current service you are offering.
- Records and Accounting
Forms
- Sales Log - Use this form to record
the individual sales of each machine. Track your best and worst selling
products.
- Profit and Loss Statement - Use this guide to track your profits and losses
over time.
- Balance Sheet - Keep a "snapshot" of
your business's current financial health.
- Cash Flow Statement - Track your business's cash flow.
- Expense Ledger - Make sure you're spending is not out pacing your
profits. This form will help you record your business expenses.
- Revenue Collection Form - Use this template to
log the money you collect from each of your machines.
- Monthly Sales Tax Log - Use this log to keep a
record of the sales taxes you pay for your sales at each location.
- Machine Inventory Form - Record your machines' serial numbers and details
on this form for your reference.
o
Monthly Commission Log - Make a copy of this log for
each of your clients and record the commissions you pay them.
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