Vending Business Opportunity Proper Data Gathering

Vending Business Opportunity Proper Data Gathering  Impending events are things that we know are coming in the vending business. This is essentially about data gathering to increase accounts or sales.

When you are working in an account be aware of…

  • Any time there’s a change in management, you want to get in and talk to him/her as soon as they are comfortable in their new office.
  • You also want to take advantage of opportunities when a company is getting ready to move, expand or consolidate.

These opportunites are discovered inside the account by keeping up with what is happening or having someone inform you.

While out running your routes, look for opportunities:

  • Construction trailers with a new building going up
  • Leasing agents
  • Leave a business card in an empty door (when someone is moving in)
Subscribe to get more vending business tips.

Episode Transcript:

Tom Shivers: Hi, I’m Tom with the Vending Business Show. Here again with Larry Towner. We’re talking about Vending Business Opportunity  Proper Data Gathering impending events or planning for profit opportunities in the vending business. So, what are we going to talk about today Larry?

Larry Towner,: I thought we’d talk about pizza. No, I’m just kidding. We’re going to talk about … We’re going to do what we do. We’re going to talk about the vending business opportunity proper data gathering. We’re going to talk about things that are going to happen in your business that you know are going to happen. There’s a few things that we’ve decided we pretty much know that are going to happen in the vending business. We’ve done this for a little while, just a couple of years if you know what I mean. One of the things we want to talk about is things that happen in your accounts. Essentially this is a lot about data gathering. We’re going to talk about this, is how do you gather your data to get yourself to where you can make profits or make … Increase accounts or increase new sales. Things like that.

Larry Towner,: But one of the big things … There’s three big areas when you’re working in an account that you have to really be aware of. One is if there’s a change in management. Any time there’s a change in management, particularly a general manager or something like that, you’re going to want to make sure you get in and talk to that general manager as soon as he’s comfortable in his office. Don’t wait too long. One of the first things new managers like to do is change the vending business. You want to get in, make friends, give him a honey bun. Watch our video on power of the honey bun. You’ll understand what to do. Get in and make friends, things like that.

Larry Towner,: One of the other things that you have to look at is an opportunity in the vending business is if a company is getting ready to move and … It was always my policy that I had a couple of people in the accounts that kind of fed me information about what was going on in the business. I wanted to know how their business was. Was their business good? Was it bad? You know, were they thinking about moving? Were they thinking about expanding? And moving and expanding are two really good opportunities for you to generate more business. Consolidating, are they consolidating two offices into one? And can you get both of those offices in one place?

Larry Towner,: All of that comes from developing some decent relationships inside the accounts. Just go out and talk to people. They’ll have tons of fun. You just learn. You learn about their business. You learn about what they’re doing. If they’re expanding you’ve got another opportunity to get into a new account. If they’re contracting, maybe they’re consolidating. You’ve got more population in an account you can make more money in that account. All of that sort of thing is developed inside the account.

Larry Towner,: We were talking about … We kind of were laughing, Tom and I… We practiced these things beforehand. Believe it or not, we actually practiced before this. We were talking a little bit about, you know, some of the other things that happen when you’re out there in the field. One of the things is, we were kind of talking about one of the great ways to get stuff is … When you’re driving down the road you have an opportunity. You have an opportunity to drive down the road and look straight ahead at the rode like this going, do do do. You don’t see anything straight ahead, right?

Larry Towner,: Or, if you sort of pay attention to what’s going on around you, instead of just going … “I’m at my stop, time to go.” If you’re driving down the road and you happen to see a construction trailer with a new building going up, you might have an opportunity if you’re one to go and stop in and ask the guy what’s going on here. The guy in the construction trailer will tell you ’cause he works for the construction company. He doesn’t care. So they’re putting up a new manufacturing facility, whatever it is, right?

Larry Towner,: It’s been our experience in the vending business, between myself and everybody else I know, first in wins. So folks, if you can get in first and you’re not driving down the road going, “Well, I wonder what’s happening.” Tom and I were laughing. We said, “I know if that were me and I were watching this video, I would say, ‘I knew that’s what my drivers were doing. I knew it.'” “Look at the pretty girl.” Right? There you go.

Larry Towner,: Anyway, so these are all things that … Just pay attention. When you’re doing your thing out there, you’re driving around, you’re looking for new business, look for new construction. Look for … talk to leasing agents, you know? They’ve got new buildings they’re putting people in. Gives you an opportunity to get out there and get a new account. They know who they’re trying to sell to. That gets into networking and all that kind of thing, but it’s all still one and the same.

Larry Towner,: Shoot, go up to an empty door and leave a card on the door. You know, I’ve done that too. You know somebody is getting ready to move in. You start sliding business cards into the door. You’d be amazed how well that works. It’s just one of those little things. If the guy says, “Hey, I want a local vending guy. He dropped a card. It’s got to be local.” Which is generally what the case is. Tom, do you have any questions, any comments?

Tom Shivers: Well, I mean, are you … When are you starting your stand up comedy session?

Larry Towner,: I’ll be here all week. Try the veal and tip your wait staff appropriately. They’re working hard for you out there.

Tom Shivers: All right, well, what are we going to be … Are we going to talk about another impending event later I’m sure.

Larry Towner,: We’ve go so many impending events as it were. We know there’s things that are going to happen. We’re going to … One of these days we’re going to talk about December and some strategies to handle the slow times of the year. And then also some of the other strategies that are just yearly things. Folks, all these things we’re working on are things that you can put on a calendar and you can schedule some of these issues out. We know … Most people in the vending business, with the exception of some of the blind vendors and all who have very busy Decembers because of travel, we know that generally December is going to be slow. We are going to discuss some strategies on that in future shows.

Larry Towner,: We’re also going to discuss other types of events like that that we know are coming. As night follows day, December is coming. We also know that there’s other things that happen that we’re going to discuss. That’s what’s coming up in future shows.

Tom Shivers: All right, well, thanks so much Larry. And you’ve been … Of course you want to subscribe to get more comedy hour here. And you’ve been watching Vending Business Opportunity Proper Data Gathering at the Vending Business Show, a publication of A&M Equipment Sales.

Look at our New Vending Machines  https://www.amequipmentsales.com/prodcat/new-vending-machines/

Vending Business Opportunities Profit

Vending Business Opportunities Profit Impending events in the vending business are opportunities for profit, so planning properly for these events is important…

We have a series of events that we know are going to happen in the vending business every month and every year.

Begin making note of the things that must be done on a weekly, monthly and annual basis so you can anticipate what you will need. Then put those in a calendar program that automatically reminds you of the event.

In this series we’ll be discussing impending events that impact operations, sales, marketing, profits and streamlining operations coming up in future shows.

For example, you are going to lose business guaranteed… what are you doing to replace that lost account? We’ll be discussing that event in the upcoming sales and marketing segment of this series.

Subscribe to get more vending business tips.

EPISODE TRANSCRIPT:

Vending Business Opportunities Profit Tom: Hey, I’m Tom with the Vending Business Show  Vending Business Opportunities Profit here again with Larry Towner who’s with Service Group International, a Vending Business Consultant. Today we’re talking about opportunities for vending operators.

Tom: What are we going to start with today, Larry?

Larry Towner: Vending Business Opportunities Profit  We wanted to do this as an introduction. We’re going to start a series on what we’re calling Impending Events or things that we know are going to happen in the vending business. And how you can handle these opportunities as they were, because after all everything is an opportunity, and how you can may get more profit from these opportunities. So that’s kind of it, as I say, this is the beginning of a series that we’re going to be working on, and we’re going to be talking a lot about how to properly use a calendar of all the most exciting things, or our calendar program if you want to call it that. That’s where we’re going to start.

Larry Towner: I had a question for you Tom. You get hungry. What do you do?

Tom: I try to go find something real convenient, a bite to eat somewhere.

Larry Towner: Something convenient and a bite to eat, do you do any planning when you do that? Or do you just take off and you go out and you just go find whatever food it is and then you eat it. If there’s a kid walking down the street with a candy bar, do you just walk up and snatch it out of his hands, or do you do a little pre-planning beforehand?

Tom: I usually try to think about in a couple of hours I’m going to have lunch, right? I know I’m going to get hungry and be ready to eat in a couple a hours, so if I it planned before, I’ll have a lunch ready to go, but if I didn’t grab my lunch or plan for my lunch, what am I going to do? I might go to a restaurant or I might go to a vending machine, who knows?

Larry Towner: Or knowing you, you’d probably find that kid on the street, steal his ice cream cone. Anyway, that’s another point.

Larry Towner: My point here is that we have a series of events that happen to us in business, and they happen to us every day, every week, every year, every month, every year, and they happen on a regular basis. Pretty much, in your case, we know you’re going to get hungry, what? Around noon, something like that, right? So in a couple of hours you’re going to get hungry. You’re going to get hungry, the more you get hungry in the afternoon. And believe it or not, whether you believe this or not, you spend a fair amount of time planning out what’s going to happen when you get hungry.

Larry Towner: My point here is that for the vending business there’s a series of events that we know are going to happen every day, every week, every month and every year, that you need to just have your mind thinking about these things. Some of these things what we’re going to talk about, a lot about in the future shows, is like sales and marketing calendars and things that you’re going to need to do to get yourself on a regular program so you can handle all of these things. Because as a small business owner … Tom you’re a small business owner, let me ask you a question, who’s in charge of everything?

Tom: Me.

Larry Towner: Me, that’s right, and in the vending business, your business, our business, there’s no difference, you’re in charge of everything. And everything is a lot of stuff. There’s a lot of things happening because you’re the Chief Cook and bottle washer, and you’re in charge of truck maintenance and you’re in charge of getting those machines filled and buying product and choosing product. And you’ve got to get with the drink guys, and you’ve got to get repairs done, and you got to do your accounting. Somebody’s got to count the money. You got to go to the bank, blah, blah, blah, a lot of things going on.

Larry Towner: I’m a planner. I’ve always said that. I would say, “I’m a systems guy.” I like systems, right? So my system is a calendar program, and there’s a series of calendar programs, I’m not going to make any recommendations on that. But start writing down the stuff you’ve got to do on a daily, weekly, monthly and yearly basis, and anticipate the needs that you’re going to need, and put them down into some kind of calendar program that reminds you automatically, by the way. Because in today’s world, do we have a lot of time, Tom, when we’re out there working day by day?

Tom: Same as everybody else.

Larry Towner: No, that’s right. Yeah. The answer is no. In the vending business we’re all about automation, right? Our whole concept is that people automatically or they don’t automatically, but they put money in and we sell things in an automatic basis. Adopt that as a philosophy. It will help you out with your other programs.

Larry Towner: Like I say, this calendar thing … My calendar hits me with an email or a text every time something comes up, about a half an hour before I actually have to do it because I’m horrible in my personal time planning. That if I don’t have it, reminder, I’ll forget to do something. Like meeting with you, Tom, I’ve done that on several occasions as well you know. Now we have that set up on automatic.

Larry Towner: So this is the series that’s coming up. We’re going to do a whole series of things that are going to help you in your both operationally, profitability, generating sales, how to streamline your operations. We’re going to give you a whole bunch of information coming up in various different shows, and we’ll tag them with what they’re going to be about, if you have a specific area that you’re interested in, but that’s where we’re heading with this program. This is going to be a way for you to make more money under your current operations, get your systems in places. I’m going to tag the sales and marketing one.

Larry Towner: Folks, if you’re in the vending business, you can guarantee you’re going to lose business. In some way or another, you’re going to lose business. What do you have to do to replace that business? What system do you have in place? Does it just come to you magically? Do you wave your little wand, and the next thing you know, poof, you’ve got new accounts? Or do you actually have to put some time and effort into it?

Larry Towner: That’s where we’re at, Tom. Thank you for your time.

Tom: Hey, by the way, if you want a particular item that you’re interested in like Larry just mentioned one, just leave a comment under this video and we’ll get it, and we’ll see about adding that one into the queue.

Tom: Thanks Larry. This is going to be a great series. If you want to get more vending business tips like these, just subscribe and you’ve been watching the Vending Business Show, Vending Business Opportunities Profit  a publication of A&M Equipment Sales. Some more interesting videos Take Over A Vending Route Or Start Your Own?

Call Now Button