Martket Research & Starting Out

[kdeckels]

I read a thread on research, which I think mainly was talking about researching & reading online.  I'm wondering about locar area market research.

I'm thinking if I start out with just a few machines I could surely get them located & get a quick idea of if it's worth investing in more machines.  Off the top of my head, I can think of the local laundromat, a new hotel is going up, & a brand new discount store.  If I venture 40 miles away to a decent size town (which we do frequently to shop), the opportunities would grow immensely. 

I know market research & business plans are important, but at the level I would start this business at, it wouldn't be capital intensive.

Any thoughts?

[The Master Key]

The nearest decent size town is 40 miles away???  How many potential locations are available in your town? 

You could try to get the locations you mentioned to get a feel for the business and see how you like vending.  I would go after the laudromat first.

Brian

[kdeckels]

Potential locations where I live would be limited.  We are a rural community, & as I said, the town about 40 miles away we visit often & would seem much more productive.  Several new eating establishments, several laundromat's, several new hotels, community college, home depot, etc.......

Right off hand, I would say in the town I live in the potential with some work on locating would be maybe 10.  I am not only trying to think of locations, I am trying to think of "profitable locations".  I guess I could slowly build to 10 locations & after a 6 month period if I'm not seeing the profitability I expect or want move the locations to my not so local town.  When I say it's about 40 miles away, that doesn't really take into account that that is where we do most of our shopping, so service calls & maintenance could be performed during this time.

[kcinnick]

I would try to get chunks of locations at one time in order to drive 40 miles.

[kdeckels]

As I said, we visit the town 3 to 4 times per month anyway. 

I think I'll start with Hugs Not Drugs charity, probably start out with a few singles, & a nice looking double to go in the new hotel.  Now I just need to run across a good deal for a lot of machines on ebay.  Start out with gumballs, & learn more as I go.