How To Sell My Vending Machine Business
Sell My Vending Machine Business
Stay in front of your competition. Offer well-known well sought after products. Make the consumer experience fast, easy and trouble-free!
- Know your target market. Locate the machines in high-traffic areas.
- When you buy machines, make sure they can be fixed by you onsite.
- Each machine on your run must be profitable.
- If the machine is not profitable, look to move it.
- Promptly attend to the machines when they need servicing.
- Be sure to keep machines well stocked – more sales = more profit.
- Watch your pricing. Your online systems will show you the products that are moving.
- Discount the slow movers. Try discounting the best sellers to increase turnover.
- Your vending machine needs to grab the attention of your customers. Is it clean and well-lit. Are the products easy to see?
- Maximise the space in the machines so that you can place more stock inside.
- Reward schemes work well…. it keeps your regulars coming back.
- Automated inventory systems allow you to track your machines’ performance. Spend your time more effectively, minimise waste and identify best sellers with the click of a button!
- Negotiate a non-compete clause with your distributor. You don’t want to be one of a long row of machines
- It’s best to have your machines in close proximity to each other. This makes re-stocking much easier… do it in a day if possible.
Getting Ready For Sale
- Ensure your agreements with your distributor are up to date.
- A buyer will want to know how many machines you have, the brands and models and the age of the machines.
- Are any of the machines leased? If so, what are the terms of the lease and how much is outstanding?
- List locations (addresses) and associated companies/ associations. Are there agreements in place, do you pay a percentage of sales to location owners?
- List machines, their serial numbers, brand type and all specifications.
- List the revenue that each machine generates each month.
- List total sales of all machines
- List total nett profit ( sales-expenses)
- List working hours including travel time
- Is the business home-based, where are supplies stored?
- Plan on training the purchaser anywhere from 2 days to 2 weeks.