Every entrepreneur hits road blocks along the journey to the top. The difference between successful and unsuccessful business owners is that successful individuals stay resilient and find a way to get things done!
The vending industry is no different. The first 90 days after a machine is placed can make or break any vending operator’s confidence. If the operators see great sales immediately, they are happy. If not, they label it as a bad investment. What can an operator do to avoid the feelings of disappointment? Work harder!
A lot of learning will take place over the first 90 days of running any business. But hard work and precise planning will set the stage for success. In healthy vending, hosting sampling events, analyzing sales data, and testing new products are a few key tasks that help to optimize the business.
How do these tasks help?
Sampling Events: Hosting on-site sampling events allow potential customers to TRY the products. Some of the healthy brands are not as recognizable, but once a customer tries out a product, he/she will love it! Just 10 years ago many healthy snacks and drinks tasted like cardboard, but with advancement in technology and nutritional science there are TONS of healthy products that taste just as good as junk food!
Analyzing Sales Data: Recognizing what sells and what doesn’t is extremely important. This allows you to create more efficient inventory management and route driving systems. The H.U.M.A.N. machines are equipped with remote monitoring capabilities, which allow you to print sales reports and quickly identify any significant trends. Once you analyze the data, many decisions can be made: lowering prices, raising prices, removing products, placing products differently in the machine. All of these factors effect sales in some way or another.
Testing New Products: Although H.U.M.A.N. Healthy Vending customizes planograms for optimal sales at each machine location, small tweaks will always need to be made along the way. Once you have analyzed the sales data, there may be an underperforming product that needs to be swapped out. Make the switch to a different product, see how it sells, and then reevaluate.
Learn as much as possible, don’t let a minor road bump stop you, and adapt when necessary! Entrepreneurship can be a bumpy road sometimes, but the strong always survive!
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