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XYZ Vending's mission is to provide high quality vending machines at the lowest prices to allow for a quick return on investment to be able to grow your route and make more money. Purchasing high priced equipment leaves little room for a quick return on your investment.
-Good Quality Locations
Just like in any other type of business the key to success is location, location, location. Finding a location that has a lot of foot traffic or waiting time is your main goal. Hair & Nail Salons, Automotive Service Centers, Restaurants and Malls will all be great locations. Other quality locations include places where quarters are already in use such as Laundromats and Arcades.
-Great Customer Service and Follow-Up
Servicing your machines is Job #1. Communicate with your location when servicing the machine by asking if everything has been going good with the machine or if they would like to change selections. Keeping a good relationship with the location can sometimes grow into more potential locations. For example, having one machine at a hair salon and the owner opens up a second salon and asks you to place a machine in their new location. Also, business owners talk with each other and can have a friend want you to place a machine in their location also.
-Using Profits to Purchase More Machines
If you are starting a vending route as a part-time business on weekends, then using the monthly profits from your current route to purchase your next set of machines will grow your route faster. Below is an example of returning the profits into the business to grow it faster.
For Example**:
10 machine package cost: $1150 or $115 each
Monthly Average NET PROFIT Per Machine: $25 each
Monthly Average NET PROFIT for all 10 machines: $250 ($25 x 10 machines)
Average Return on Investment: 4.60 months ($1150 divided by $250)
After 5 months, purchase the next 10 machines: $115 each
Monthly Average NET PROFIT Per Machine: $25 each
Monthly Average NET PROFIT for all 20 machines: $500 ($25 x 20 machines)
Average Return on Investment: 2.30 months ($1150 divided by $500)
After 3 months, purchase the next 10 machines: $115 each
Monthly Average NET PROFIT Per Machine: $25 each
Monthly Average NET PROFIT for all 30 machines: $750 ($25 x 30 machines)
Average Return on Investment: 1.53 months ($1150 divided by $750)
After 2 months, purchase the next 10 machines: $115 each
Monthly Average NET PROFIT Per Machine: $25 each
Monthly Average NET PROFIT for all 40 machines: $1000 ($25 x 40 machines)
Average Return on Investment: 1.15 months ($1150 divided by $1000)
After 2 months, purchase the next 10 machines: $115 each
Monthly Average NET PROFIT Per Machine: $25 each
Monthly Average NET PROFIT for all 50 machines: $1250 ($25 x 50 machines)
Average Return on Investment: 0.92 months ($1150 divided by $1250)
Therefore, you will have grown your route to 50 machines in One Year and making $1250 per month for working weekends!
**Results may vary and this is to be used only as an example of return on investment and returning profits to the business.