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.
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!