How to Sell my Vending Machine Business?
SELLING A VENDING MACHINE BUSINESS
- 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 percentage of sales to location owners?
- List machines, their serial numbers, brand type and all specifications.
- List 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.
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They opted for BCI:
Founder and M.D. - Jump Start
" I sold my business for the price, terms and hand-over that I wanted, and it was all because of Tony. His decades of experience and excellent people skills gave me confidence, reassurance and guidance throughout the entire process. He had ... "
M.D. - Sherlock Consulting
"For 20 years plus I have seen the results of Tony’s business and the professional way he handles his clients….. He is a man of action and stands behind his words….. It’s nice to see and meet a person who is courteous, honest and willing to go the ... "
Director - Fields of Beauty
" Tony, Thank you, for your commitment, professionalism, and dedication to selling my business . I could not have asked for a better broker to sell it! ... "
Director - PALMERBIZ
" If you are considering selling your business, don’t waste your time shopping around for a broker that doesn’t even understand business. Go straight to BCI Brokers and get the professional service that you deserve ... "
Director, Franchise Systems Grp
"Tony puts the interests of his clients at the forefront. He takes a proactive approach to each project and helps his clients understand the reality of the situation. He knows what is required to get a positive result and has proved to be a longstanding colleague ... "
Pro. Services Franchisor
" I have worked with Tony over a number of years in different capacities, firstly as a Franchisor with Tony brokering the sale of a franchisee in our system and then as an advisor to our system. On all occasions I have found Tony to be well informed and ... "