How to Sell a Vending Route
Vending routes can be a lot of fun but they can also be a lot of hard work. The day may come when you find you want to sell your vending route. Selling a business is very similar to selling a home. Below you will find information to make it easier to sell your route.
- Difficulty:
- Moderately Challenging
Instructions
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1
Decide whether you want to sell the route yourself or use a broker. If you use a broker you will need to pay the broker's fee, but they may sell it faster than if you try to sell it yourself. A good broker to use is VR Business Brokers as they will list your business in all states and give you much needed advertising as part of the service they provide. The fee they charge is standard.
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2
Selling on your own is a bit more complicated but you can take out an ad in the local newspaper and put signs on your machines so that the people buying your products can see that they are for sale. You never know, one of them may be interested in buying the route.
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3
Discuss exactly what you are selling when you get an interested party. The vending route consists of all of the stops, as well as all of the machines at each stop. You may want to include inventory on hand or you may sell that for cost, the latter is the most common, but you can use this for a selling feature to clinch the deal if necessary.
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4
Discuss the terms of the sale. Since most vending routes sell for cash you will only need to make sure that they have the cash to buy your route. If you do decide to do financing, then be sure to qualify your buyer by having them fill out a simple application that you can then check.
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5
Sign a contract. The two options discussed above can be combined by accepting some cash and financing the balance. My source did the combination. She accepted half of the selling price upfront in cash and the other half was financed. A lien was placed on the buyer's house. The contract spelled out the terms: selling price, down payment, monthly payments that would be made and the interest rate to be paid. These forms can be found in any office supply store.
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Tips & Warnings
Remember to advertise, you never know where your interested party will come from.
Inventory can be a valuable selling feature.
