How to Compete in the Vending Industry

The vending industry has become very competitive in recent years. Because vending is a business that almost anyone can do, many small businesses have been started by individuals seeking self employment. When added to the large vending companies in existence, the market has gotten fierce. The best way for the small vending business to compete in the industry is by offering better service.

Instructions

Difficulty: Moderately Easy

1. Locate your accounts yourself. Call or visit the business that you would like to place your vending machines in. Tell the prospective account that you are a small business and will be servicing their account yourself, or tell them who will be servicing their account if you will not be doing it yourself. Assure them that there will not always be a new person entering their business. This is important especially if your machines will be placed in an area that is normally restricted to employees only.
2. Provide personalized service. Most small vending business owners service their own accounts. Whether you will be servicing your accounts or you have someone else that will be doing it for you, it is important that service is personalized to give you a competitive edge in the industry. This means you should get to know any employees that you come in contact with on a regular basis. Take a minute when you enter the account to greet everyone you see.
3. Maintain regular scheduled intervals for filling their vending machines. When you first pick up an account, you will probably want to schedule their service more frequently then they really need you. This will allow you to monitor their usage, find the appropriate products for them and realistically evaluate how often they will need their machines filled. After you establish the optimal service interval, let the account know their service schedule. Then, be sure to keep those scheduled services.
4. Repair all machines promptly. Most vending business owners realize that a broken machine is costing them sales, but it is important to also realize that broken equipment will cost you accounts. It is a good idea to have your phone number on every machine that you have out in an account. If a customer can not reach you when there is a problem with their machine, they will look elsewhere for vending service. After a repair problem is reported, fix it as quickly as you can.
5. Offer a variety of products. Today's consumers demand choices and the vending industry is able to provide them. If you are too limited on the products that you offer, the account will go to a bigger company with more product selections. Ask the account if they prefer the Coke or Pepsi line and then do your best to accommodate them. Listen to their dietary restrictions and offer snacks that fit into them.

Tips & Warnings

• Never make promises that you can't deliver on or that are unrealistic for the success of your business. For example, if an account has 10 employees, do not promise them you will upgrade their equipment to a 60 selection snack machine. If you promise an account something, it is important that you deliver on it.