nepavend Posted November 3, 2008 Share Posted November 3, 2008 Hey all. Just wanted to get my section for financials setup. I will be posting my pertinent data here in the next week or so. Link to comment Share on other sites More sharing options...
nepavend Posted November 4, 2008 Author Share Posted November 4, 2008 October 2008 NEPA Vending Total Locations 10/31/08 - 205 Total Heads - 350 Locations Serviced October - 67 Locations Serviced September - 68 Total Revenue Oct - 2,325 Total Revenue Sep - 2,660 Because of the massive growth in the summer and the past two weeks, this past service cycle (8 weeks) was the biggest by far in my time in business. I am expecting the sales in Nov/Dec to beat that bacause of more locations, heads, and locations to service. COGS right now is at about 32% of total revenue YTD (product and commissions). My target is to keep this at 35% or less throughout the growth process. I am trying to do this by sticking with gum, toys, and balls as my main products that offer the best profit margins in the 25c vend range. I also will try to do the same as I move into more 50c and get my first 75c vends into 2009. Overhead, capital expenses for more equipment, and debt service are keeping me at a loss YTD but 2009 should see a big profit as the new equipment generates revenue and debt is paid down. I am aiming for a 25% net profit by 2010, which I am also targeting as my date to move into full-time vending. Link to comment Share on other sites More sharing options...
Brassine Vending Posted November 7, 2008 Share Posted November 7, 2008 Best of luck to you. Sounds like you have a good plan going on there. Link to comment Share on other sites More sharing options...
ROGERS VENDING Posted February 8, 2009 Share Posted February 8, 2009 Joe, Very informative. Please keep us up to date. Is ONLY 25 % net profit because of future equip purchases and paying off debt??? Otherwise, the profit margin after product (COGS) and overhead should be around 50 percent or higher. Am I correct with this line of thinking? Jesse Link to comment Share on other sites More sharing options...
T BIRD Posted February 8, 2009 Share Posted February 8, 2009 Thanks for sharing all of this with us Joe. Best of luck to you. Link to comment Share on other sites More sharing options...
nepavend Posted February 13, 2009 Author Share Posted February 13, 2009 NEPA VENDING Year End 2008 Report Locations 12/31 - 202 Heads 12/31 - 361 Total Revenue - $16,213 Total COGS for year - 36% Net Operating Income - 7,419 (45.8%) Net Loss after Debt/Capital Expenses - (3,872) (-23.9%) COGS is slightly over target at 36% for the year, I believe this is slightly high because I did not back out the stock on hand as of this date, which should not be counted in this number but it is. NOI is higher than I expected so that is a good sign. Capital Expenses were nearly $5,700 which was well above what I expected to spend, which the loan proceeds from the bank covered so no money came out of my pocket despite the loss. I am expecting next year to be much more revenue because of the full year with the new machines out plus the capital purchases being put out on locations and upgrades being made on other locations with racks and sticker machines to maximize revenue. There is a good chance that by the end of the year I will be gradually phasing out my job and working towards full-time vending in 2010. Link to comment Share on other sites More sharing options...
T BIRD Posted February 13, 2009 Share Posted February 13, 2009 Thats great Joe!!! Link to comment Share on other sites More sharing options...
nepavend Posted February 13, 2009 Author Share Posted February 13, 2009 Thanks Johnny, I will also post my gravy locations that I promised to do months ago! Link to comment Share on other sites More sharing options...
ROGERS VENDING Posted February 16, 2009 Share Posted February 16, 2009 Joe, Good luck to you!... and thanks for the report. Those are some interesting numbers! Jesse Link to comment Share on other sites More sharing options...
nepavend Posted March 22, 2009 Author Share Posted March 22, 2009 NEPA Vending Total Locations as of 3/21/09: 165 Total Heads in Service: 305 Total Average Gross Revenue per location per month: $16.07 Data finally input into Vend-Trak! Number of $100/mo gravy locations: 2 (hopefully 3 soon!) Number of $50/mo gravy locations: 6 Number of <$5/mo locations that need to be modified/moved: 35 (a ton of work to do yet!) Link to comment Share on other sites More sharing options...
T BIRD Posted March 22, 2009 Share Posted March 22, 2009 U R da man Joe. Keep it up brotha. Link to comment Share on other sites More sharing options...
nepavend Posted April 3, 2009 Author Share Posted April 3, 2009 CORRECTION: Adjusted Gross Average Revenue per location: $15.87 *I found I had a double entry in one location, causing this to be off. Adjusted Revenue per head: $8.58 % +/- Natl Average: +23% Link to comment Share on other sites More sharing options...
nepavend Posted April 6, 2009 Author Share Posted April 6, 2009 Great Collections on 4/4 and 4/5/09. My top two spots both set records for best collection and daily average! I am completely stoked. I also took in $1,650 gross for the two days, which is an all time best for a weekend of collecting. #1 Spot - Chinese Buffet - $692 in 45 days! (Commission $200) *Also: -The owner wants more stuff! This is incredible, I now am planning to have 2 7-ways, the 8x sticker, and a spiral for gumballs there! -2" capsule vending is not dead, about 57% of the revenue came from 2" capsules! -The sticker machine did $197, about 29% of revenue, and the 1"/candy vends did the other $102 or 15% of revenue. -The only sticker that sold pretty well was the Highly Obnoxious, Ultra Classic Tattoos did decent, the other 6 were all about even. This tells me there is room for improvement once I figure out what sells best. I could use some suggestions for items from the other more proficient sticker/tat vendors. -Going to 2 7-ways will give me more 2" capsules to put out, which will take advantage of the huge revenue from them! The owner told me he has several customers trying to collect sets of whatever I put out. -Gumballs were down a bit, I think because they are not standing out among the other items, a spiral I am hoping will correct that. #2 Spot - Pizza - $268 in 49 days! (Commission $80) -This didn't do as well as I hoped, because the gum sold out fast and didnt get a service call. I will switch one of the other 1" heads to gum for now. I will also keep trying to get permission to get a second rack in there, but not sure if he will go for the space, it is a smaller area I have to work with. A spiral here may also do the trick, or a mini-wizard??? Link to comment Share on other sites More sharing options...
kai1836 Posted April 11, 2009 Share Posted April 11, 2009 Joe, Out of your 160 locations, how many singles and doubles do you have? Those two top locations are putting up incredible numbers!! How many racks do you have out now? How's your loan app coming along? Here's to hoping your next collection goes as well or better than this one! Link to comment Share on other sites More sharing options...
reel Posted April 12, 2009 Share Posted April 12, 2009 Joe, I noticed you have 35 sites doing $5 mth, are you going to remove the machines from these sites or would you consider keeping the sites and placing 1 or 2 head machines in them with hard candy and gumballs and increase the service intervals?. Link to comment Share on other sites More sharing options...
nepavend Posted April 13, 2009 Author Share Posted April 13, 2009 kai, As of today I have 155 locations (pulled/lost a few more over the weekend). I have the following equipment on locations. Some locations have multiple machines: -3 - 4-ways (18" stands) in 3 locations, -7 - 5-way racks (24" stands) in 6 locations, -2 - 4x Stickers also in those locations -1 - 8x Stickers also in those locations - 5 - Triples -76 - Doubles -37 - Vendmax Deluxe -12 - Singles (Eagle/Oak/etc.) -27 - Eagle Mini Giant/NW Mega 60 -1 - Interactive -3 - NW 80s Singles I serviced my Allentown route on Saturday and pulled in about $1,270 gross, $1,000 after commission, my best service to date there, so that is good news. I did lose a few more spots but they were all sale of the business and poor performance, so nothing too hurtful, except for one location that wanted an upgrade to a 4-way closing and I know there is $80 in the machine but the owner of the building hasn't called me back yet! That sucks! But I did manage to locate another machine from a lost location that had $90 in it, so for now I am floating even there. I took a few of the machines from lost locations and upgraded a few, most notably my #1 and #2 spots on the route, one got a 4x sticker machine and two Vendmaxes with gum and Sticky Mix in it, the #2 got a NW80 single added to the double already there. As of today I have 314 total heads in service at 155 locations. (Average $16.40/location/month, up 4% since last report, significant because it was only 20 days ago!) My average per head per month is at $8.10, up .05 since March 25 (20 days ago). This is 15.66% better than the National Average of $7.00. Total locations doing $5/mo or less is holding at 35. Monthly Revenue is breaking down as follows: $<5/mo or less: 35 $5-10/mo: 28 $10-20/mo: 48 $20-30/mo: 16 $30-50/mo: 7 $50+/mo: 5 No Services: 16 (new locations that were not serviced yet) Link to comment Share on other sites More sharing options...
nepavend Posted April 13, 2009 Author Share Posted April 13, 2009 Hi Ron, Most likely I will be removing the low performers from locations. In alot of these instances I still have the original locations from when I got into business in 2006 with the Vendmax Deluxes that never showed any life. Even with good product changes they just cannot be seen doing a decent sales number each cycle. I have been having much more success pulling those and relocating them to other spots either as upgrades or new locations altogether. Link to comment Share on other sites More sharing options...
kai1836 Posted April 13, 2009 Share Posted April 13, 2009 Joe, will you eventually go to all rack placement? what kind of sales increase have you noticed with an addition of a sticker/tattoo machine? I'm putting 3 out in the next week or so........wondering what I might see. Also do you use vendtrak or some kind of spreadsheet to track your numbers? You know......for all the questions I ask I should just come to scranton and buy you lunch. ....... Link to comment Share on other sites More sharing options...
nepavend Posted April 13, 2009 Author Share Posted April 13, 2009 I love free lunches! I have never turned one down! :dude: I use vendtrak for all sales data and export to Excel when I want to get really fancy with the numbers. I have seen huge jumps with racks/stickers, I turned a $100 spot into my best spot at nearly $700 for 6 weeks service really quick, and they want me to add more. Even when I did badly with some choices of sticker/tats, I still had $200 in the machine, which is not bad at all even so. I may not necessarily go to all racks/stickers, but the day is coming soon when I will phase out most singles and start with doubles, and further down the line I may start with triples or 4-ways in new locations. I have started phasing out $5/mo spots or less, which consist of a lot of singles and a handful of doubles for relocation, right now I am focusing on sales rather than all about the heads and types of machines. I'll take a Mini Giant spot that does $100 along with a triple doing $200 anytime, no problem. Link to comment Share on other sites More sharing options...
nepavend Posted June 24, 2009 Author Share Posted June 24, 2009 I will be making a half year report as of June 30 sometime after vacation in July. I will have some exciting news for my business at that time. Things are starting to really take shape which is exciting. Link to comment Share on other sites More sharing options...
caserri Posted June 24, 2009 Share Posted June 24, 2009 Sounds great Joe. Can't wait to read your news! Link to comment Share on other sites More sharing options...
nepavend Posted December 24, 2010 Author Share Posted December 24, 2010 ALERT: 2010 Financial Report coming soon! Link to comment Share on other sites More sharing options...
caserri Posted December 24, 2010 Share Posted December 24, 2010 Where you been Joe! We missed you. Link to comment Share on other sites More sharing options...
nepavend Posted December 24, 2010 Author Share Posted December 24, 2010 I will fill you in after holidays. There has been a lot going on over the last 18 months. Thanks for the Mr. Smith Matrix line Steve! Link to comment Share on other sites More sharing options...
22443360 Posted January 21, 2011 Share Posted January 21, 2011 Cant wait to see your report, your where im goint within the next 3 months. Link to comment Share on other sites More sharing options...
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