Factors Influencing Success of Planet Antares Business
Success of vending business is influenced by several factors. The kind of machine you purchase, the products you offer, the customers you target, and location in which you install your machine and most important of all the kind of services you offer to your target customers.
- Keep a check on your costs: Though the initial set up cost is very low when compared to other businesses, there are several other expenses like merchandise, maintenance and repair costs which you need to take into consideration. But a close and watchful eye on these costs can keep them under check. Regular checks on the stock will prevent pilferage and wastage. On the other hand prompt servicing will ensure that the machine functions properly without any break downs.
- Machine Used: Vending operator has a wide choice when it comes to purchase of vending machines. Several models of vending machines are made available in the market in various shapes and sizes. Whatever may be the case, it is always advisable to start your business by purchasing a new vending machine of reputed brand like Planet Antares.
- Products offered: Modern vending machines are capable of dispensing almost everything. When finalizing a product to be dispensed in your machine, operator needs to consider latest market trends, customer tastes and preferences and most sort after product.
- Location is crucial: Nothing is more crucial than locating the vending machine. If you think that locating your machine in schools or college will work miracles for you, then you completely mistaken. You need to look out for places where foot fall of customers is very high or identify places where people stand in queues waiting for something. Avoid locations which already have stores selling the same product. You also need to consider availability of power supply depending on the kind of machine you use and the product you vend.
- Service is the key to success: This is a customer driven market. Customer satisfaction will influence the survival of any business. You might have come across few vending business that failed because they were unable to offer good service. Often they neglect to refill their machines with stocks or forget to gather cash from the machine so customers cannot buy anything and sometimes they do not maintain the machines properly. All these spread ill will among customer and they resist from themselves from revisiting the machine.
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Planet Antares - Factors Influencing Choice Of Vending Machine
Vending machine business has been in existence for quite sometime now. With every year passing by, this business model is gaining huge acceptance and popularity among customers and operators. Convenience and instant services offered are motivating customers to use these machines again and again. While high profit margins, low operating costs, zero sales force, minimal floor space requirement and low capital are encouraging operators to take up this business.
With increase in number of vending operators, competition is becoming severe in this industry. As a result several sophisticated models of vending machine available in various shapes, sizes, colors and models are being designed and introduced into the market. In this situation, choosing one machine from amongst the available once is quite challenging.
Factors that influence choice of vending machines are mentioned below:
- Budget: Budget is the main constraint while choosing machine of your choice. Depending on how much money you would be able to invest choose a machine. You can go for small machines capable of vending gumballs or candies if you cannot invest more.
- Scale of operations: It is always advisable to begin with one or two vending machines in the beginning. This would cost less and at the same time you can experiment on it. If things work the way you want, then you can slowly expand.
- Products to be offered: Since this is a customer driven business, try to offer products that have maximum demand or prefer latest products or branded items. Offering any one of these could be highly profitable.
- Customer base: Where are you going to install your machine? Who are your target customers? All these influence your choice of vending machine. For instance: if you are targeting kids, purchase a vending machine with attractive colors, animations or good sound effects. These features can definitely grab children’s attention.
- Ease in operation: Planet Antares Vending machine should be very easy to operate and at the same time should be very difficult to tamper with. This avoids fear of theft.
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Influence of Product Selection in Vending Business Success – Planet Antares Tips
The choice of product you dispense in your machine is influenced by several factors just as the success of your business. Even though several products have been introduced into the market, there are few vending products that have gained immense popularity among both operators and customers. Snack and beverage are one among them.
However, operators need to keep few things in mind while choosing vending machine products. Most important of all is the location of supplier. Always look for a supplier who is based close to your area of operation. This will save a lot of time for the operator while procuring stock. Another thing the operator needs to ensure is that the products vended are fresh and have not past their expiry date. This is important because you do not want to lose your customers by offering them outdated stock. This will not only affect your sales but also create ill will and bad image for your company.
Once you have finalised on the products you are going to offer in your machine, you can go about placing them in various locations. Try to offer those products that have maximum demand among your target audience. It is also important that operators do not restrict themselves to limited number of products. Instead you need to alternatively offer latest products that are available in the market. This would not only keep your existing customers happy but also draw the attention of new customers.
Children and youngsters constitute major portion of customer base for vending business. Try to understand their needs and requirements and offer products that can satisfy them. Product suppliers are also a source of vital information about the right kind of products suitable for your machines. This will help in boosting sales.
Another way of increasing your sales is by offering branded products. These products are famous internationally and hence can be easily identified by customers. Another benefit associated with these products is that, since there are already renowned internationally, operators need not take up any promotional activities. These tips if followed can make vending a huge success.
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Ins And Outs of Planet Antares Vending Machine Business
Vending machine has become very successful and gained huge acceptance among people of all age groups and all walks of life. Planet Antares business is quite simple and does not require huge investment for its establishment so anyone can start it on their own. But before jumping to conclusions and starting this business, it is always advisable that operators should conduct thorough market research. This would equip him with all vital information required for successfully running this business.
Every business has merits and demerits so does vending. However, the merits of this business surpass its demerits thus making it very popular across the globe. Let us now look at some of the merits and demerits of this business.
• Profit margins: This business gives high profit margins. You can purchase a product at low price and sell it with huge margin.
• Flexibility: No other business gives you this kind of flexibility. There are no fixed working hours. All you need is to spare few hours a day for restocking the machine and servicing it.
• Absolutely Zero employees: Vending does not require you to employ any sales personnel. Your machine is your salesman and takes care of everything.
• Complete cash business: In other businesses there is every possibility of running into bad debts. But since vending is a complete cash business, you can generate revenue right from day one of installation of the machine. Since all transactions take place through cash there will not be any issues with credit card acceptances etc.
• Start up cost: This business does not require huge floor space and your major investment goes into purchasing the machine. Hence start up cost is less when compared to other businesses.
Demerits on the other hand are very few and they are:
• Repairs and breakdowns: In case you purchase a used or refurbished machine, they are more prone to repairs and frequent break downs. It is advisable that the operator knows how to fix minor problems. This will prevent inoperative machines for a long time and thus prevent you from losing customers.
• Location: Identifying the appropriate location may not always be possible. More over areas with high customer traffic have huge competition. This can have negative impact on your sales and profitability.
Proper planning and strategic moves would help operators overcome these hurdles and become successful in their venture.
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Glass Front Vending Machine- Perfect Machine Choice – Planet Antares
Since the introduction of vending machines, several models have been designed and introduced in to the market. However, very few among them have been able to win the hearts of both customers and vending machine operators. Glass front vending machines are one among them.
In fact glass front vending machines are latest up gradation over the closed ones. These machines are preferred because of the ease of operation and convenience it offers to customers. Glass front machines enable customers to see the products that are offered for sale. This makes selection easier and also creates an impulse for purchasing the product. Items thus displayed can lure the customers and create a desire for the product.
Some of the benefits of using these machines are:
• Increase sales: It is believed that glass front vending machines are capable of generating more sales when compared to closed ones. One of the reasons being, customers can actually have a glance of the products which they are about to purchase. These machines have proved to be a great success in busy locations.
• Features: Glass front vending machines from Planet Antares come with several attractive features like LED illuminators, pull forward trays, easy dispensing trays and refrigeration units.
• Shelf space: More products can be marketed in this small shelf space when compared to other drop shelf units.
• Customer association: Customer participation and involvement is more in a glass front vending machine in comparison with closed ones.
• Wastage: The possibility of products getting wasted is very low in a glass front vending machine. The reason being electronic tracking system.
• Choice: Customers have a wider choice because this machine can accommodate more products in it.
• Branded items: Glass front vending machines are ideal for vending branded products.
In case you are looking at starting a vending machine business on your own, go for glass front vending machine.
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Product Selection Crucial For Successful Planet Antares Vending Business
Vending just like any other business model is influenced by several factors. Right from the kind of machine you purchase, product you dispense, location you install to the customers you target, all these factors influence success of vending business. Stocking your machine with the right kind of products is very crucial for success of your business.
Whenever we talk or hear of vending machines or Planet Antares vending business in general, the first thing that strikes our mind is snack and beverage machines. Although this is one of the most popular models of vending machines, there are lot more available in the market.
What actually draws a vending operator is a machine that is simple, affordable and capable of generating maximum sale. Operators need to bear one thing in mind while choosing products for their vending machines. Only procure products from those suppliers that stay nearby your locality. This will save a lot of time and also transportation expenses for the operator.
Modern customers are quality conscious so it is imperative that operators offer best quality products and those that have not past their expiry date. This is important because you do not want to lose your customers by offering them outdated stock. This will not only affect your sales but also create ill will and bad image for your company. Identifying fast moving products or products with maximum demand is also one of the main functions of a vending operator. This can happen if and only if operators keep themselves updated with latest products in the market. These products are not only successful in satisfying customer needs but also aid in drawing more and more number of customers towards your machines.
Children and youngsters constitute major portion of customer base for vending business. Try to understand their needs and requirements and offer products that can satisfy them. Product suppliers are also a source of vital information about the right kind of products suitable for your machines. This will help in boosting sales.
Another way of increasing your sales is by offering branded products. These products are famous internationally and hence can be easily identified by customers. Another benefit associated with these products is that, since there are already renowned internationally, operators need not take up any promotional activities. These tips if followed can make vending a huge success.
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Is Customer Satisfaction Vital For Success Of Planet Antares Vending Business
Vending is no doubt a customer oriented business. In fact the success of this business revolves around the extent to which you have made your customers happy. One satisfied customer would spread the goodwill about your business through his word of mouth and thus boost your sales. Hence understanding the tastes and preferences of customers is very crucial in this business model.
With increase in the number of people taking up this business, the competition between operators is skyrocketing. Every single customer is vital for the success of this business. This is one of the main reasons why modern operators are willing to spend huge money on advertising and promotion of their business.
Planet Antares Vending business not only lucrative in terms of the profits it generates but business also makes you financially independent and allows you to have complete control over time, money and future. More and more upcoming entrepreneurs are taking up this business due to the enormous prospects associated with it. Once you gain confidence of customers, then there is no looking back in this business. You can retain your existing customer as well as attract new ones.
Gaining customer confidence and satisfaction is the first step towards success in this business. This can be gained by the below mentioned methods:
• Quality: Today’s customers do not mind spending some extra money in order to avail the best quality products.
• Latest products: Most customers like experimenting with new products that are introduced into the market for the first time. Make sure you offer all the latest products that hit the market.
• Branded products: Brand consciousness is increasing among modern customers. So, you can make them happy by offering branded products. Another advantage with these products is that they do not require additional promotion as they are known world wide.
• Cleanliness: Make sure your vending machines are always kept clean and in good working conditions. This will ensure that a customer who visits your machine will not return empty handed. This will also create goodwill for your company among customers.
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Vending Business Tips by Planet Antares
Although most of us are inclined to start our own vending business, we step back due to lack of proper guidance. There are few among us who do not understand where to start from. Conducting a thorough market research is the first and foremost step that needs to be taken for starting a vending business. As we all know profit margins in this business is very high. However, it is not the same across all products. So, make sure what you would really want to sell in your machines.
When it comes to purchase of vending machine, there are several models of vending machines available in the market- snack vending machine, gumball vending machine, soda vending machine, cigarette vending machine, pop corn vending machine are some of the popular ones. Operator has to choose one from these models depending upon his financial capability and the products he would like to dispense.
After deciding on what to sell, your next move would be to identify a perfect location. Busy crowded streets, shopping malls, commercial complexes, airports, restrooms, airports, bus stations, railway stations or any other place with huge gathering is ideal for installing a vending machine. In case this is the first time you have started a business on your own, make sure you vend products with long expiry dates.
Now that you have completed all the crucial steps i.e. purchased a Planet Antares machine, stocked it with appropriate product and installed it in one of the perfect locations, do not be under the assumptions that your job is over and you can just sit back relaxed and enjoy the returns. This is a wrong notion as your job in fact has begun just now.
Vending as we all know is a customer related business and the success of this business is directly influenced by the extent to which you can keep your customers satisfied and happy. Customers can be pleased by proper maintenance of machine and regular servicing. If required, operators can also make sure of latest technology and track moment of products across the counter and thus prevent pilferage. All these if done can definitely make your business a huge success.
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How to Start Planet Antares Vending Machine Business
The very idea of starting a vending business is a wise decision. Operating a vending business is quite simple and does not ask for any specific skills set or knowledge. From the time you set up your first machine, this business gives you the scope of making huge money.
However, there are some basics which you need to remember while taking up this business.
• Thorough analysis: Before you start this business or in fact any other business, it is essential that you conduct a thorough analysis of this business and determine its associated costs and profit potential.
• Location: Choosing right location is very crucial for a successful vending business. Operators need to be very careful while choosing a location. They should try and choose locations that generate highest amount of profits.
• Target customers: Once you have finalised on the location, try to place machines and products that appeal to customers. As an operator, it is your primary responsibilities for keeping the machines filled promptly and check on its working conditions.
• Scale of operation: If you are new to this kind of business, it is advisable that you start with small machines like gumball which require less investment. The maintenance cost for these kinds of machines is also very low, provided they are checked on a time to time basis.
• Always try to purchase a new machine of a reputed company like Planet Antares.
• While expanding your business, try to approach store or location owners, let them know about your business and its purpose and set one of your machines in their premises.
• Never compromise on quality. Be it in purchasing a vending machine or offering products. Quality and instant services are the two main factors that can bring success to you in this business.
• Since vending is a customer oriented business, customer service and satisfaction are also crucial for the success of this business.
These few tips if borne in mind can help you in establishing a new vending business.
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Cut Throat Competition in Planet Antares Vending Business
As more and more individuals are taking up vending business, competition is increasing. Withstanding this competition and surviving in this market is the toughest challenge for any vending operator. In order to provide best services and satisfy customers, operators need to concentrate on providing better service to their customers. This is possible if and only if operators make regular note of their customer’s tastes and preferences.
The best way of withstanding competition in vending business is by knowing customer pulse. Vending is no doubt one of the fastest changing businesses that are continuously influenced by changing times. How to withstand this competition? This is a common question that haunts everyone. Here are few tips that can help an operator withstand competition.
• Specification: Try to be specific in what you sell. Do not vend more than what you can manage. Concentrate on few products and switch to bulk vending if possible for better results.
• Ability to offer at lower or reasonable prices: Since the establishment and running costs of vending business is low in comparison to other business models. This business also does not require you to hire sales personnel and being a complete cash business, there is no scope for bad debts. These benefits allow you to price products at lesser price when compared to other shopping malls or retail outlets.
• Vending has gained huge popularity among people who hardly have time to wait in long queues for billing or purchasing products. This machine provides you with the convenience of pick and go. So ensure that you stock your machine with sufficient quantity of stock. This will help boost your sales.
• Always prefer latest and new machines. Discourage used or refurbished machines. New machines from Planet Antares are more reliable and ensure smooth operations.
• Appropriate marketing strategies. Provide discounts and special offers that can increase your sales.
• Prefer glass front vending machines when compared to closed ones. These machines enable customers to see the products which they would be purchasing. Not only this, glass front machines help you in identifying outdated stock which can be easily removed.
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Step Wise Approach to Planet Antares Vending Business
We often find several young and enthusiastic entrepreneurs taking up various businesses but only few of them succeed while others are forced to quit them. What could be the reason? Cut through competition is the main reason behind this situation. Vending is also one such business model where more and more operators are trying out their luck. Only those few smart, talented and hard working individuals succeed.
This does not mean that you are not suitable for taking up this business. A careful and step wise approach can bring you success.
• To begin with operators need to conduct thorough market research. Just like any other business model, vending also need a pre planned and careful approach. Operators need to set realistic goals before taking up this business.
• Now that you have set goals, plan your business in such a way that you can achieve these goals. Perfect planning would involve minor aspects like what is your target segment? Which products would you like to vend? Would you stick to single product or try multiple products? What equipment you need? What is your budget? How would you go about placing your Planet Antares machines in various locations? Do you require any software? The answers to these simple questions will help you in coming up perfect plan of action.
• A detailed market research would help you in understanding present market scenario. Operators would also be able to get into minute details such as existing operators, their pricing strategies, various brands of vending machines used by them, how to maintain these machines? How to get them refilled? How frequently these machines are being used? These questions will help you in choosing a unique vending machine that sets you apart from your competitors.
• Keeping customers satisfied by meeting their specifications is the last and most important aspect of vending business. In fact every operator should strive to keep his customer happy. This would definitely boost his sales by bringing in repeat sales.
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Challenges Faced By Vending Business
All the four P’s of marketing mix are very sensitive even to the slightest fluctuations in the market. Even a small change in them can make or break your business. For instance when it comes to setting price of a product, you need to consider your target customers, profit margin and even your competitors pricing and their strategy. The location in which you place your machine also influences its pricing.
Vending is undoubtedly a very profitable business but this does not mean that operating this business is very easy. Operators do face major challenges when it comes to changing prices. Even the slightest variation in prices can affect the overall profitability. While fixing prices, other factors like taxes, commissions, cost of good, equipment depreciation, spoilage and other overhead costs need to be considered. All these determine the profitability of an operator.
Operators need to monitor profitability across various locations and also consider the profit saving options. Raising prices may not be as easy as it may sound. Most customers resist price hikes in the initial stages but over a period of time they may accept it. This is true in relation to products that have regular demand. Customers have no option but to buy them even at the new price. Another profit saving option includes reducing commission, removing piece of equipment and increasing the frequency of servicing.
Before deciding on which method to adopt, operator needs to gather information about the sales and expenses pertaining to one particular location. Sometimes profits can be improved by improving the efficiency of vending machine. This might be easier when compared to increasing the price or concession in commission. You can relocate this machine to another location where it might work better.
Several software packages are made available in the market that help you track your financials. However, operator needs to maintain accurate accounting books for implementing this software. These are some of the challenges faced by vending operators.
For more information and knowledge about the vending business, get in touch with Planet Antares staff.
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Vending Business Opportunities
Whenever we talk of vending business, the first that strikes our mind is a candy or coffee vending machine. These are just one of the several vending business opportunities that are available in the market these days. Gone are those days when vending was limited to a few selective products. In case you are looking for a novel business model, vending is perfect for you. After deciding on your investment limitations, you can choose a model that is perfect for you.
With growing number of people keen to take up this business, the number of people trying to misguide or cheat you is also on the rise. Hence operators need to be pretty careful and vigilant in their approach. Since the inception of vending business, snacks and beverages have been the most popular options among operators.
Changing lifestyles and work culture has increased peoples dependency on vending machines. Since people hardly have any time to sit and have their lunch in leisure, they are looking for instant snacks and ready to consume meals that would not only quench their hunger but also save a lot of time. Snack and beverage vending machines are also available in various models and types. These have proved to be highly profitable if only placed in the right location.
In case you are a novice to business industry, you can start with one or two machines and gradually increase your equipment. However, location becomes very crucial for the success of this kind of businesses. Places with high customer traffic are ideal for locating these kinds of machines. Other places would be those where customers would stop and wait for some time. These include bus stations, railways stations, malls, sub ways and gas stations.
First time operators can also go for non electrical vending machines from Planet Antares that would not only save your maintenance costs but are also ideal for locations such as stores, shopping malls and laundries. An operator can also go for coffee vending machines which are quite famous in offices, universities, airports and hospitals or a healthy vending machine which is perfect for schools, gyms, health clubs and sometimes even hospitals.
Vending industry offers a wide range of products and services suitable for all needs. So the ball is now in your court. Start a vending business that best suits your requirements.
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How To Start A Vending Business
There are many people among us who want to take up a vending business but are not sure on how to start it. This business gives you a wide range of choice to choose from both in terms of the kind of machine you would like to purchase and the kind of product you would like to dispense in it. Since there are no boundary restrictions, you can install these machines in different locations.
The toughest challenge faced by existing as well as new vending operators is finding a perfect location. Yes, though this might sound to be very simple it is in fact a very crucial decision that determines the success or failure of your business. Almost anyone can buy a vending machine but what is vital here is expanding and placing your machines at new locations on a regular basis.
Investing on a vending business itself means that you would like to constantly grow your business by adding more number of machines and by reinvesting your earnings. The main concern of every vending operator is to buy a vending machine and install it in a high customer traffic location and use the returns generated from it either to pay off any debts or use it for reinvesting.
How do people make money in this business? How does this business work? This is something every new or upcoming vending operator needs to understand. The most common scenario which we often observe is that a vending operator installs his machine near a local business either for free of charge or pays some commission for selling his products. It is observed that profit margins are pretty high in this business. Thus vending operators stand to make huge revenue almost immediately.
Marketing activities also need to be taken up in order to boost your sales and drag more number of customers towards your machines. However, this is not mandatory for those operators who dispense branded products in their machines. Maintenance and prompt refilling of machine helps operators in offering high quality products to customer. These aspects are an assured way to success.
To get more advice on starting a vending business, get in touch with Planet Antares staff.
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Role of Location in Vending Business
Location no doubt plays a very important role in the success of a vending business. Just like any other business model, this business also requires a lot of ground work. A thorough market research is mandatory to make this business a huge success. This market research helps you in gathering information on which you can further build your business.
What is that customers look for? Which products have maximum demand? What kind of vending machines have maximum demand? How many operators are existent in your locality? Market research provides answers to these and many other questions. Taking up vending business is in itself one of the biggest challenges faced by operators. One thing about this business is that you do not require any special skills sets and knowledge. This is the most realistic business where you get a chance to learn from your own mistakes.
However, there are few aspects which operators need to bear in mind before finalizing on vending location:
• Accessibility: Is the location easily accessible. There is no point locating your machine in a place where there is hardly any customer traffic.
• Visibility: There should not be any problem in locating the machine. It is always better to place your machines in places where people wait for some time. For instance you can place your machines near rest rooms or entrance of a hotel or near the reception. Planet Antares machines can help in visibility factor as well as these machines are stylishly built and attract a lot of kids.
• Transport: Refilling the machine should be done promptly in order to ensure smooth flow of business. The main aim of any vending operator is to make sure that his/her customer does not return empty handed. You need to restock your machines at times so make sure that it is not too far from your regular vending route.
These small things if kept in mind can make your business a huge success.
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How to Prevent Yourself from Becoming Prey to Vending Scams
Where there is scope for making money, there is a great chance for being cheated there. In case you are novice to this industry make sure you do not get carried away by misleading information and false commitments given by vending companies. There are various ways in which you might be cheated by these people. For instance: few companies try to force you by saying that there are some special offers which are about to expire if not availed immediately. This is just a business tactics since if the company is really earnest, it will allow you to take enough time and buy the product after you have thoroughly investigated about their company.
How can you protect yourself from such scams?
• Never make hasty decisions. Take your own time before doing anything.
• Gather proper information about various companies and products offered by them.
• Ensure that you have all earnings in writings since any earning claim above $500 needs to be in writing. It should also include the number and percentage of recent customers who have earned at least as much as the company claims to have.
• Ensure that all assurances and warranties mentioned by the company are given in writing.
• Find the exact location where the business is based. Contact Better business bureau in that city in order to check for how long the business has been filing with BBB and also look for any complaints registered against the company.
• Contact attorney general office in the state in which the company is based in order to see if there are any outstanding issues against the company.
• Browse the net in order to find about other companies selling similar products. Also check if there are any negative postings against this company in the net.
• Ask for contact names and numbers of various customer care centers.
Proper planning and cautious approach towards this business can prevent you from falling prey to scams.
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Reasons for Growing Popularity of Planet Antares Vending Machines
What was one used for selling selected products is now used for dispensing almost everything. There is hardly any product left which cannot be sold using a vending machine. What makes these machines so popular? Of course the benefits associated with these machines. Apart from benefits, ease of operation, convenience of usage and instant and prompt services are some of the unique features of this business.
Let us look at some of the highlights of this business:
• High profit margins: This business has extremely high profit margins when compared to any other business.
• All cash business: Vending is a complete cash business. There is no scope for bad debts or out standing amounts. Revenue gets generated from the moment the Planet Antares machine is set up.
• Additional source of income: You can continue with your regular job and take up vending business on a part time basis. Once it clicks, you can gradually expand this business by reinvesting the profits generated by the existing machines.
• Flexibility: This business provides allows unique flexibility in terms of working hours. You can service your machine whenever you have time. Moreover there are no fixed working hours and you can operate your machines round the clock.
• Sales personal: You need not appoint any sales force. Your machine does sales 24 hours a day and 365 days a year.
• Advertising costs: This business does not require huge advertising or marketing costs. Most of the advertising is done by customers through word of mouth.
• Instant cash: Revenue generation starts instantaneously from the moment you set up your machine in a location.
• Tax advantages: You also have the tax advantage from this business.
Another reason for increasing demand is, it does not ask for any special skill set in order to take up a vending business. More over it is perhaps one of the very few business opportunities that allows you flexibility in terms of its operation.
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Three Aspects for a Successful Vending Business
Before starting any business not only vending, a lot of ground work needs to be done. This helps in gathering maximum information about various related issues and thus help in sound planning. These aspects can be broadly categorised under three heads- start up cost, location and product price.
To begin with operators need to identify the possible costs involved in starting a vending business. Post this operators need to analyse the start up cost since this is one of the important aspects of planning. The start up cost of vending business in turn will depend upon two factors: the type of vending machine you use and the number of machines you would like to start with. When you are starting this business for the first time, choose a product that is popular and also has maximum demand. For instance: if you are targeting children, then candy or gumball machine is appropriate for you. Try to purchase new vending machines from Planet Antares which are less expensive. Candies are very popular among kids and this machine is capable of giving you $127.50 per week. Once you have made enough money, you can acquire some more and different kind of machines.
Location is undoubtedly very crucial as it decides the success or failure of your business. Operators always need to look for locations with huge customer traffic. Few such popular choices for vending operators are schools, large companies, restaurants, shopping malls, and bus and railway stations. Make sure that the place meets all your requirements. It should be easily accessible, easy to identify and should have a source for power supply. Since ‘there is no gain without any pain’, identify locations yourself instead of depending on other agencies.
Product pricing is also influential. The price of the product you dispense should be fixed depending upon the locality in which you install your machine. There is no point stocking high price products when you install your machine in a middle class locality. These three things if borne in mind can bring your huge success.
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Tips on Cutting down Costs in Vending Business
Vending unlike any other business is highly profitable if and only if you are able to keep your costs under control. There are no predetermined ways of achieving success in this business. This is a very realistic business which allows you to learn from your previous mistakes.
Hence cost cutting is one of the toughest challenges faced by vending operators. However, a healthy profit margin can give you quick growth and increase your chances for long time survival in this business. There are few strategies that can help you keep your overhead costs under control.
• Jot down clearly all your business expenses: Keep a track of all your regular weekly and monthly expenses. Close monitoring will help you identify abnormal rise in expenses easily.
• Always purchase a new vending machine from trusted companies like Planet Antares whenever you start a business. This reduces your maintenance cost.
• Try to handle small repairs your self. This would put a check on unnecessary overhead expenses.
• Inventory control: Be careful with your inventory and avoid unnecessary wastage and theft of stock.
• Always purchase stock in bulk. Large quantities can be obtained at lower unit cost.
• Record invoices: Always have a countercheck on your invoices against the purchases made.
• Check your advertising costs: Costs incurred for setting up of sign boards need to be checked. This helps you in identifying if you are spending too much on advertising.
• Use appropriate dispensers: Adjust the quantity of product you dispense by using exact dispensers. This would prevent unnecessary wastage of the product. For instance if you are using a vending machine to sell candy, then dispense only that portion that is sufficient to fill a child’s hand.
• High product prices would mean low cash flow for the vending machine operator. Try to cut other expenses to compensate on high product cost. But never compromise on the quality of the product.
• Try to visit check the performance of the machine regularly. This will help identify any break downs or service requirements in the initial stage itself. This will also help you cut down your servicing expenses.
• Plan your vending route in such a way that you will be able to cover all your vending machines to check their performance without wasting any time.
Labels: planet antares, planet antares vending
Why Vending Business?
There are numerous business opportunities available. Why take up vending? This is most common question that arises in the minds of most entrepreneurs. The reason is simple and straightforward. In order to take up most of the other available business opportunities, operators either need to pool up huge finance or equip themselves with special skills.
The only business that does not require both the above mentioned aspects but assures you of guaranteed returns is vending. There are numerous benefits of taking up vending. Some of them are mentioned below:
• Immediate cash flow: We would feel proud to say that vending is the only business that guarantees instant returns right from the day of installation of the machine.
• Only “All Cash” business model in the world: Except for vending, there is no other business model across the globe that runs completely on cash. This means you no more need to worry about bad debts or collection issues.
• Round the clock service: Vending machines are a source of passive income. Regardless of what you choose to do with your free time, your vending machine works for you round the clock everyday. Since machines are your salesman, they do not require any training, supervision or motivation. Once installed they provide uninterrupted service round the clock.
• High margins: There is no other business that has as high profit margins as vending business. As we all know, the main purpose of any business is to make money. The profits margins in snack and beverages are not only high but incredible.
• Best home based business: Vending is also the only business that has no boss, no fixed working hours, no utility cost, no employees, no paper work, no franchise and most importantly no territory limitations. Since this business does not ask for any specific skill set, anyone can take up this business either on a full time or part time basis.
• Key to wealth: Vending is a great way of earning some extra bucks.
All these benefits lure more number of operators and encourage them in taking up this business.
Labels: planet antares, planet antares vending
