The Vending Machine Business Be Careful Not To Get Scammed!
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Business > Entrepreneurs
Feb 25, 2008
chrisr1
The Vending Machine Business Be Careful Not To Get Scammed!
The Opportunity. Is it for real? Can I really make money in vending? he big picture here is that Yes, it is real. You can do it. It's a business. It is just like any other business. There is money to be made; there are companies out there that need your help. Believe it or not, you might think that you are living in your community in your area and you might think, "Wholly, there are fifty other people that are doing vending in my area. How am I going to actually do something that is different than them?" Or, How am I going to get accounts when they already have all their machines and these accounts? What it really comes down to is your strategy. Your marketing and how you actually look at your business and how you want to really build this business. When I looked at this business, yes I saw my competition and I saw them doing what they were doing. You know what? In the beginning I was jealous, I was like, What are they doing that I am not doing? and What do they have that I don't have? or Why do they have these accounts and I can't seem to get them? I was knocking on people doors. Some people, they were receptive to me. Some weren't. They were like, Oh, we already have machines. But the trick is, it's not even a trick, it's really the drive of you. Can you actually work through those kinds of obstacles? Sure you can! There were days where people said to me No. No. No. Do you know how many times people have said no to me? There were days that are discouraging and I thought, This is not going to work, but I realized by keeping to move forward and that I would find the people that would say, "You know that sounds interesting. Can you give me more information? I would like to know more about that." Part of this business when starting out without advertising you have to work the numbers because in your community There is too much, I will tell you right now! There is too much to give up here. There is so much business out there. There are so many businesses out there. You can do this. There is as true opportunity here to do this. There is as lot of vending operators out there, but some of them are not doing the job the way they should be doing it. So there is an opportunity for somebody like you, when you approach someone at the right time and they are having a problem and you seem like you are coming across as a solution to their problem. Then that is going to be helpful to them. They are going to be receptive to you. They are going to want to know more about what you are doing and what you can offer them. To answer that question, the big picture is Yes, it is a real opportunity to make money in vending. You can do it. But you do have to do it right and you have to structure it properly. You don't want to spend all your money. There are a lot of companies out there that just want to sell you machines and that and they charge you a lot of money. They hype things up that the vending business, like it this big thing. Which it is. But they want you to invest a lot of money. You don't need to invest a ton of money because like I said earlier, the trick is to make your money back so you can build this business up. You don't want to be stuck paying loans and loans and loans off for ever and ever and ever, and wondering, Hey when is this thing actually going to start making me money? Don't go down that road because some people have gone down that road. The homework end of things and research is important. Vending Scams - What to Watch out For. I am going to make this real plain and simple for you. What I just talked about a minute ago about the vending scams you have to watch out for is just simply these opportunity shows where a company wants to sell you a bank of vending machines. They want you to draw out $20,000, $30,000 or $10,000 or whatever it is. They do a presentation and make it look like it is just a big thing where everyone is just in a great mood, and everyone is going to make money in vending and stuff and they just simply want you to slap down your credit card, buy this bank of machines, we are going to help you to find locations and all that stuff. You have to watch out for some of that because number one "All they want to really do is sell you machines in my opinion." That is all I can really say because I have been to one in the past. It was just a franchise show here in Toronto just a couple of weeks ago. A friend of mine and I decided to go. One of the main reasons that I decided to go was because one of my website providers actually had a booth there. What they are doing now is they are staring to teach people in the classroom, in community colleges, and universities and that. How to actually build and internet business properly and make money and all that. I wanted d to go and see what their booth was like, talk to some of the people, and just sort of network with a few people that might be of interest there. My friend and I went to the show and walked around to a lot of these booths. Just think how much money people want for franchises. Some of them were the big hitters. Where it was like the restaurants and the bigger businesses that you would spend a lot of money on getting into. Some of them were smaller home based business and then there were a few vending franchise opportunities there. I went up to one gentleman at the booth and I said, I was completely honest with him, I just said, I am a vending operator here in Toronto and what are you offering today? They basically gave me to scoop on what they were doing. At the end of the conversation they wanted to sell me a franchise opportunity where I would be using their franchise name, and I would be buying two vending machines. The price was some astronomical price like $40,000 to really get this thing started. For $40,000 you got some signage, you got to use their name, they handed out maybe a thousand flyer's in your community and you bought two machines. That is a lot of money for two machines. I was nice to the guy and that, but at the end of the day I can't justify dropping $40,000 on two vending machines. It just doesn't work like that for me. Maybe they found some people that will. Maybe they worked the numbers and they find the people that will do that. We don't want to go that route. That is what I am going to sort of tell you about that today. Doing your research and homework is definitely essential.
Chris Robertson is a 9 year vending operator who works out of Toronto,Canada. http://www.toronto-vending-services.com/vending-services.html For more information about how you can get started in the vending business visit Chris's site http://www.your-vending-resource.com/vendingbusiness.html
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