Jump to content

NEPA VENDING - FINANCIAL REPORTS


nepavend

Recommended Posts

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

  • 3 months later...

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

  • 1 month later...

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

  • 2 weeks later...

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

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

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

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

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

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

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

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

  • 2 months later...

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

  • 1 year later...
  • 4 weeks later...

Archived

This topic is now archived and is closed to further replies.

×
×
  • Create New...