Role of Product Selection in Vending Business

The 4P’s of marketing mix emphasise the importance given to product in any business. Selection of right product is as important as the selection of the machine. In fact the choice of product vended influences the success of your business. We often keep taking about product mix. What exactly is this product mix and how does it affect a business? Product mix is the sum total of all the product items and its variants offered by an organisation. An appropriate product mix will not only keep your customers satisfied but also encourage them in repeat purchasing.

In case you are a new entrant in to vending business, then start with products that have consistent demand and that are least effected by fluctuating markets. For instance: Snacks and food items are in constant demand. Operators must make sure that they offer these products in order to have continuous sales and maximise profits over a period of time.

Another thing which operators need to consider while dispensing products is availability of supplier. This is very important because a supplier located in a nearby area would avoid delay in transporting products and thus save a lot of time and effort. Modern customers are willing to spend slightly higher amount but do not want to compromise on the quality. Hence, operator needs to check on a regular basis if the products provided by suppliers are fresh and have not crossed their expiry dates. If any customer comes across a product that has crossed its expiry period, it will create bad reputation and he will not revisit your vending machine again. This will lead to spread of negative image in the market and thus affect your business.

Selection of product is also influenced by your target audience. For instance: in case you are targeting children, try to offer products that can grab their attention easily like video games, toys etc. Understanding customer needs is key to a successful vending business. So, make sure you know your customer needs and requirements. This is possible either by asking them using questionnaires or by conducting a small market survey.

Location of your vending machine will also play an important role in deciding the products. Planet Antares experts have data pertaining to number of locations and can guide you with the choice of products. Also taking into consideration, the national demand for products they can assist you in choosing the right mix of your products. Planet Antares since 1987, is engaged in providing modern vending machines to customers across US and Canada.

Vending Industry Ideal Business Option for People of All Classes

There are some business options that ask for huge capital requirements while others ask for specific skills. But the only one business that is within the reach of people of all classes and all walks of life is vending business. Irrespective of financial limitations, this business can be taken up by everyone depending on their individual financial limitations.

If you have monetary constraints you can go for small vending machines that cost less while if you can invest more, you can go for huge and complex machines that include several latest and innovative features. The choice however depends on your individual tastes and preferences.

Vending undoubtedly is one of the most promising business opportunities. This business has given life and recognition for several new and upcoming entrepreneurs. What makes vending so special? There are several benefits associated with this business not only for its operators but also for its customers. Convenience and instant service are the two major advantages which this business provides to its users.

Some of benefits to its operators are mentioned below:

• Low capital: unlike other businesses, vending does not require huge capital or floor space for its establishment. This business can be operated even from your residence.
• Complete cash business: This is an all cash business. So, operators need not bother about bad debts.
• Uninterrupted services: Since this is a machine run business, there is no time limit. Hence business can be run round the clock.
• Tax exemption: Operators can claim tax exemption.
• Ease of operation: Machines from companies like Planet Antares are designed based on target customers. Moreover these machines can be operated by anyone. Hence they can draw customers towards them.
• Over head costs: Overhead, repair and maintenance costs in this business are also low when compared to other business ventures.

All these benefits make vending most irresistible business.

Secret for Successful Vending

Vending industry has grown at an incredible pace in the last few years. There are few common factors that affect the success or failure of any business. These factors are quality, customer service and innovation. Vending is no exception to this. How they influence would be dealt with below:

• Quality: Higher the price higher the quality- this is an old notion. With increasing number of providers, products and services are available at reasonable prices. Not only this, modern customers have become quality conscious. They are even willing to spend slightly higher amounts to get the best quality products. So vending operators need to ensure that they offer the best quality products to their customers. This will not only increase your sales but also create goodwill in the market.

• Customer service: Modern market is a customer directed market. The success and failure of a business is greatly influenced by its target customers. Most importantly vending is purely a customer centric business. Your business survives as you satisfy your customer. Once your customer is upset or dissatisfied with the kind of service he/she receives, he will never visit you again. Besides this he would also spread ill will among other customers through word of mouth and prevent them from visiting you. Word of mouth plays a key role in this industry.

• Innovation: Customers constantly look for innovation. They love to try out various products that are being introduced in to the market. As a vending operator, you need to make note of changing needs of customers and provide them with the latest products on a regular basis. If their demand fades, you can replace them with your previous products. This can not only boost your sales but also increase your revenue. It also gives you competitive advantage over other operators.

Besides this proper maintenance, maintaining sufficient inventory stock and prompt servicing can keep your Planet Antares vending machine in good working condition. Thus you would be able to provide uninterrupted services round the clock to your target customers.