April 17, 2014

The Healthy Vending Machines Business Has “The Big 3″

HEALTHY VENDING MACHINES SET TO DELIVER A KNOCKOUT BLOW TO THE JUNK MACHINES BUSINESS…

We’re all business-minded individuals whether we want to admit it or not – I’m in the “I want to admit it” group, are you?  What I mean by this is that we’ve all found ourselves criticizing another business while we’ve read about it, passed it by, or experienced whatever the business had to offer (products or services).  We critique the location, viability (i.e. “How does this place make any money?), and products/services.  I’m sure we can find plenty more, but let’s stick to what I’ll call “the BIG 3″ and apply them to the healthy vending machines business.

The Locale, ‘Cause Location Matters …

Let’s face it, humans are creatures of habit.  We go to pretty much the same places on a frequent basis – whether it’s part of our routine or it’s just because we have a good time when we’re at the location or place of business.  I know, the business-minded people that frequent this blog are already saying, “How do we figure out how many people frequent a location or are in my demographic?”  The bottom line is you’d be a fool not to try to take advantage and figure that out – don’t be lazy, do the extra research, and don’t settle for a location that’s questionable.  You already know what to look for, but repetition never hurt anyone.  Make sure your location has ample foot traffic with people coming back more than once per week.  If possible make sure your location provides for visibility (whether you’re street facing or right inside the lobby of a big business building – even inside of a gym.  C’mon, you know where I’m going with this!

Viability:  ”Show Me The Moneyyyyyyy!”

This one is straightforward.  You want to know that the business you’re going to invest your money and life into will make you money back, and, the real hope is that it makes you a GOOD amount of money back – right?  Well, there is no way to guarantee your business will prosper, or even worse, make your investment back.  Warren Buffett, you know, the richest man in the world, has not been able to accurately predict the stock market, his investments, and many other things.  BUT, he has been able to predict these things with better accuracy than any one of us.  He does this with research!  When you’re ready to invest in a business you should ask to see documentation on your potential investment (tax forms, quarterly reports, etc.).  Be ready to show you’re ready to invest because most companies are private and will not show just anyone their tax forms (especially with all the fraudgoing around!).

“I Can’t Wait to Come Back Tomorrow and Try That!” – said, the Satisfied Customer

Customers know what they like.  Given the recent health craze, it’s probably a good idea to stock a lot of healthy and, more importantly, tasty products.  Here is where healthy vending machines kicks the other vending machines’ ass:  all of the products are tastes tested and doctor approved.  I’ve done some research on this, and they actually have a board of doctors and other professionals who provide input.  That’s unheard of!  A vending machines business with a board of doctors backing it and actually making decisions on which products are good for you or not.  Makes me feel warm and toasty inside to know I’m not eating junk – FOR SURE!

 

 

 

 

 

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Attention Business People: Sick and Tired of Making Your Boss Rich?

STOP MAKING YOUR BOSS MONEY!  START A HEALTHY VENDING MACHINES BUSINESS WITH A MINIMAL INVESTMENT AND BE YOUR OWN BOSS!

If you’re like the majority out there, myself included, then chances are, you’re working for someone else.  You’re working eight hours a day with an average of about 5 – 10 hours of overtime per week.  Now let me ask you this question:  Is there SOMETHING you WISH you COULD DO, but CAN’T – ALL because you DON’T MAKE ENOUGH MONEY?

Most of us will say yes, “I want to take my family to Disney World” or “I want to move my family into a bigger house.”  Whatever your reason may be we all want to achieve the ever-so illusive peak of financial independence.  Although that may never be a reality for most of us, I will share with you a secret about a business that has already separated itself from its’ competitors – more specifically the lucrative healthy vending machines business.

Most business cost over 100 thousand dollars to set up and you’re on the hook for the lease you signed.  Some are legitimately worth that much, but most are businesses that the owner is eager to get out of.  Unless the owner is a 70 year old multi-millionaire, in which case it’s obvious you’re doing the right thing.  However, you should still be wary as the 70 year old may just be folding his cards at the perfect time – so to speak.  You get the point; it’s tricky to buy a profitable business.

MY SUGGESTION:

The already successful healthy vending machines business has created a market all its’ own.  Vending machines that combine health and charity – does it get any more ingenious than that?  As a vending operator, you are contributing to your consumers’ health and giving back to causes that combat obesity, diabetes, and child hunger.  I know what you’re thinking, “That’s great and I’m happy to do it, but what does that mean in terms of profit?”  Check out my post titled “So You Want to Start a Successful Healthy Vending Machines Business?”

 

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The Trials, Tribulations, and Future of the Lucrative Vending Machines Business, Part 1

Trials, Tribulations & Future, Part 1
A BRIEF HISTORIC TIMELINE ON THE ONCE LUCRATIVE VENDING MACHINES BUSINESS

Before there were healthy vending machines with 23″ LCD screens displaying advertisements and product information, or touch screen computers taking your orders, or vending machines that correct their own problems … okay I’ll stop, but these super, mutated, technology-driven healthy vending machines are out there.  But before the egg, there was the chicken – or was that vice-versa ?  I’ll leave that to you to debate. Here’s a little timeline:

1880’s – The first commercial coin-operated vending machines were introduced in the UK.  It dispensed post cards.  Soon after, one was invented to dispense books.  The rest was history …

Late 1800’s (circa 1888) – By this time the vending machine business had become a hot commodity.  It was a convenient way for people to get what they need cheap, easy, and on-the-go.  In 1888 the first vending machine was introduced to the United States.  It was installed on the subway platforms in New York and sold Tutti-Fruiti Gum.

Early to Late 1900’s – The early 1900’s brought such memorable favorites like the gumball machine, soda machines, and stamp machines.  Innovative vending operators began to take their vending machines business to another level.  Vending machines were being adapted to fit the role of several very different businesses.  Some examples were, tobacco, postage, post cards, concessions, and even the restaurant business.  In 1902, the first coin-operated restaurant opened in Philadelphia and kept its doors opened until 1962!

Tribulations – In the Late 1900’s to present the vending machine business has plateaued and even lost a lot of business given the influx of credit card use and, what seems to be an avoidance to the tide of change (i.e. most still use rudimentary technology from the 1960′s).

Various variations were developed as a result of the invention of the vending machine.  Throughout the late 1900’s to present vending machines have become more user-friendly, have adapted to the tech fever that’s going around, and have broken into yet another industry – the health industry.

Stay tuned for part two …  See if you can come up with an answer (or two) to the following question:

What does the future hold for the vending machine business?

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A Philanthropic Healthy Vending Machines Business?

What’s your definition of good business?  My guess is the majority will say that a good business is one that makes money – and they wouldn’t be wrong.  What if I told you that profit isn’t everything?  Get that look off of your face!  I’m not going to tell you to give all of your money to the nearest religious institution or figure.  This isn’t that type of site!  What if I said that by donating a portion of your profits to a charity you will make more money by attracting and retaining more customers, would you believe me?

Allow me to explain the idea of … (drum roll please!)

An innovative idea that shows that philanthropy in business increases customer retention as well as satisfaction.

 

Operating a philanthropic healthy vending machines business, which as the name suggests will donate a portion of its’ profits to a charitable cause, is a ground breaking and innovative idea.  Let’s call this idea … yeah, you guessed it Tactical Philanthropy.  Just as the name suggests, you, as an owner or potential owner of numerous healthy vending machines, would be able to say to your potential customer “By buying these organic handcuffs (No, there is no such thing – at least not that I’m aware of) you are also donating to this cause (this will be a charity of your choice).”  Ideally, you will donate to a charity that you as well as the majority of your customers believe in.  After all, who wants to donate to a charity that they’re against or don’t care for?  In donating to a charity that your customers believe in, you are giving them an even greater incentive to buy from you as opposed to “the other guy.”  Furthermore, once the customer buys from you they know that they are contributing to a cause that they care for or believe in.  This creates a good feeling for the customer after the sale is made.  Who doesn’t want to feel good when they buy something?  Let me re-phrase … Who doesn’t want to feel good?

With a good charity in place and healthy products to sell you are doing twice the philanthropy as most.  And, the cherry on top is that by operating philanthropic healthy vending machines you get the free time you wouldn’t if you were running a store.  This leaves you more time to find customers and be philanthropic!

 

 

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