He’s only 11, but David Miller is already working on a plan to expand his business. David’s plan is pretty simple – a single pop machine. But someday soon, he thinks it’s going to turn a nice little profit.
Small to medium-sized businesses, those typical of the independently owned vending operation, are the cornerstones of the Canadian economy. Privately owned businesses account for more than 40 per cent of the GDP and provide up to 70 per cent of the jobs created in Canada each year.
Financing is a bit like healthcare these days – you have to take ownership and control of your own financial wellbeing. When it comes to purchasing equipment or vehicles for a vending operation, leasing is often a healthy approach. It’s better than putting down a large sum of cash and it sure beats going to the bank for another loan.
Every now and then, you fall into the honey pot. The right place, at the right time. The right business idea intercepts a sweeping consumer trend. Vending is about to fall into that honey pot. Smack. Dab. You see, vending is just another name for “self-serve” – a means of fulfillment traditionally seen as a back-up method for secondary markets. A vending machine was the form of delivery chosen when it didn’t make business sense to have a live person serve the customer. Consumers didn’t prefer serving themselves, but they made the best of it. Not any more.
Gimme your best price or I’ll shop the business elsewhere! Don’t you just love the sound of that phrase? It kind of trips off the tongue … like the hammer of a loaded .44 being cocked back with the barrel pointed at your temple. It is almost as pleasant as, “your competitor is at least $5.00 a case less expensive than you are,” or everyone’s favourite, “I only look at price, don’t bother me with the other details.”
Many Wall Streeters were left scratching their heads in November 2004 when mammoth retail organizations K-Mart and Sears announced a major merger, creating Sears Holding.
The local arena has always been a mecca for bulk vending activity. With vibrant young athletes frequenting the rinks for hockey, figure skating, lacrosse and ringette, the arena is the quintessential Canadian hot spot for bulk sales. But is it finally time for full-line vendors to share in the wealth?
Another year is here and if you are like most people, you want to improve your results from 2005. Use the techniques outlined in this article to help you achieve your targets.
Like many other businesses that resell a product, vending operators are at the mercy of the manufacturer. In the vending business, the packaging of a product is important because it is what attracts our customers: the look, the colour – the whole brand identity.
In an age dominated by political correctness and multiculturalism, it’s easy to forget that only a few years ago things were not quite that way.
The key to running a successful business-to-business operation, such as corporate vending and office coffee service (OCS), is to maximize the opportunities. That might mean a full-line vending operator offering OCS or an OCS operator dabbling in the bottled water sector.
According to a Center for Exhibition Industry Research study, 39 per cent of attendees spend less than eight hours visiting a show. Planning and preparation are essential to maximizing time on the trade show floor. The following 30 points will help simplify the process next time you find yourself playing visitor:
Vending, office coffee, water: all of these categories are in the midst of changing times.
What does it take to be successful in sales? Certainly effort, hard work and dedication are important. An excellent understanding of the sales process is also essential.