If you're starting a vending machine business, you need a plan. It's the sure way to bring you the most success when you run your snack machines.
What Is a Business Plan?
It's a prospectus of what you plan to accomplish when you run your combo vending route. It includes your mission statement, past income and future earning projections, and statements about your target market.
Here's a more detailed description of the attributes of a combo vending business plan:
Mission Statement (Company Vision) -- For example, you may want to reach out to your neighborhood. Otherwise, you might want to encourage people to eat healthy while providing them with wholesome alternatives. Whatever your objective, you need to write one or two sentences about it.
Past Income Earned (If Any) -- If you haven’t started your vending business yet, you might not have a record of earnings from combo vending machines. You instead might need to include information about income worked at a previous job. Otherwise, you will need to calculate your projected (future income).
Projected Income -- This is especially important if you have not yet purchased a vending business for sale and you need financing for it. You need to show lenders that you have a potential to make money when you dedicate yourself to this venture.
One way to find out this information is look at whitepapers produced by vending machine companies. Any online or print publications that commit to research and data concerning combination vending machines will help you. Even a quick Google search may suffice.
Startup Costs -- This section of your vending machine business plan should include information about how much it costs to start it up. You're going to need snack machines as well as trucks to transport the food and drink you would put in the vending machines. You might also need to hire delivery drivers as well as maintenance personnell, and other crew.
Operational Exenses -- Ordinarily, your everday vending machine business expenses are not as high as your startup costs. However, you still need to make sure you include information in your business plan about how much you expect to spend on food, gas, tools employees and more. Whatever you need on a regular basis to manage your vending machines is what you would include here.
Advertising -- Well, most vending machines sell themselves if you put them in the right location. However, you may want to spread the news about one that's available by a gas station, grocery store, kid's activity center or other profitable place. This may require fliers and it may also involve placing ads in newspapers and on websites. Any plans for advertising as well as the cost of doing so you would include here.
You might also need to include information about your goals before making a move on a vending business for sale. When starting a vending machine business, you also might need to provide visuals in your business plan. This will further prepare you when seeking financing to purchase combo vending machines for sale.