Loved how transparent your were about the business. When securing your locations, Do you have an agreement drafted up that you and the property manager sign? Or is it as simple as, “see you next Monday!”
I plan with 50% from the revenue for beverages & supplies, 15% location fees, 2% merchant fees. Would you say these ammounts are realistic ? Did I forget something? location is Las Vegas.
Eric, just my personal advice, I've been in the vending business for 30 years. The best way to do this is just go all in. Having a few machines here and there is just not worth the time
I cold called like a mad man tbh Personally I landed the location first before buying machines but now that can play to your benefit when at a meeting that you have them ready to go. Speaking to the right person makes all the different. Typically property managers handle everything and that’s who you need to speak with (only them) as the front desk lady has little to no authority
Great video thanks for sharing. Question, what are your highest sales accounts ? Best accounts, type of business? What did your process look like for securing them? Calling or in person visits for example.
A woman is selling a drink and snack machine on Marketplace that are already on location in a Sam's club because she moved and is having to drive almost 3 hours every couple of weeks to refill it. She is asking $4500 and I talked her down to $3500. I think it is great that I can buy all the food and drinks right there in Sam's and just roll my cart up to the machines to restock it. I am ready to pull the trigger but I am new to the vending game. What do you guys think?
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Loved how transparent your were about the business. When securing your locations, Do you have an agreement drafted up that you and the property manager sign? Or is it as simple as, “see you next Monday!”
I plan with 50% from the revenue for beverages & supplies, 15% location fees, 2% merchant fees. Would you say these ammounts are realistic ? Did I forget something? location is Las Vegas.
15% is high, I have one location I pay 5% of net sales to. The rest are no commission
Eric, just my personal advice, I've been in the vending business for 30 years. The best way to do this is just go all in. Having a few machines here and there is just not worth the time
Definitely! Thanks for the tip
I'm actually thinking about buying an already established business. What are things I should look for when looking to purchase a vending business?
If you're still looking, just make sure that it's priced fairly, 10-12X monthly gross revenue is a decent gauge of what your price point should be
what method has worked best for you with finding locations? I started my business a month ago and have 6 machines but only one on location.
I cold called like a mad man tbh
Personally I landed the location first before buying machines but now that can play to your benefit when at a meeting that you have them ready to go.
Speaking to the right person makes all the different. Typically property managers handle everything and that’s who you need to speak with (only them) as the front desk lady has little to no authority
Great video thanks for sharing. Question, what are your highest sales accounts ? Best accounts, type of business? What did your process look like for securing them? Calling or in person visits for example.
Apartments do really well for me. They need to be 100+ units for me to pull the trigger on it though
where can i purchase a good vending machine?
You can get them get them from Drops vending if you want used, Evending for new (my personal preference)@@WavyLjj
This is outstanding ty for sharing!
A woman is selling a drink and snack machine on Marketplace that are already on location in a Sam's club because she moved and is having to drive almost 3 hours every couple of weeks to refill it. She is asking $4500 and I talked her down to $3500. I think it is great that I can buy all the food and drinks right there in Sam's and just roll my cart up to the machines to restock it.
I am ready to pull the trigger but I am new to the vending game. What do you guys think?
What's the revenue like per month?
Great info 👍🏿
Glad it helped!
This is exactly how I want to start and scale. You on Instagrams ?
Yeah it’s just my name
Hi Eric, what type of machine do you suggest starting with?
I like combo machines personally
Did you create a LLC?
Yeah I did
Didn’t make enough, you still have a fly swatter hanging in your house.
What's the issue with that?? Lol
This is exactly how I want to start and scale. You on Instagrams ?
Yes! Sorry for the late response. It's @ericpiccione