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Treadmill's Mint Box Report


treadmill

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125 mint boxes were placed 2 weeks ago. Went last week to service all 125 locations for the first 2 weeks. Results are as follows: Revenue was 1427.77; Shrinkage was 34.5%. Cogs was 463.94. Do not have net numbers, will post when I get it calculated. Looks like I have some serious cleanup to do to lower the shrinkage down to a respected number. Next collection will be last week of this month.

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Congrats, looks like some good # for two weeks. The shrinkage is always going to be a problem because those boxes sit out in public view so you have to deal with more theft than in a controled area. Was that COG only candy or was ther other costs in there?

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Just peppermint patties. Each box holds aporox. 100 mints. Next service cycle will start replacing the low producers as well as the ones with the most shrinkage. When I do that won't know what my numbers will look like until end of Nov.

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Glad to see your results. Does your COG include your shrinkage. I include shrinkage. If I service 10 locations and it takes 1000 mints to refill my COG is $70.00 no matter what my shrinkage. If sales are $200.00 for 800 mints, shrinkage is 200 mints. 200 mints .07 = $14.00 Am I thinking right? This is on a $.25 price.

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This is what I am not sure about. I owned a Catering truck for 15 years and I added both, what the product cost and what I would have sold it for. I like to use actual cost for the mints to get my true cost.

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What makes sense is how many mints are gone. Let's say it's 5000. How much does each mint cost? Let's say its 8 cents. Multiply those together and you have your total cost of goods. So, this would be $400 COG

I believe Treadmill is selling these for 35 cents or 3/$1. So, his expected revenue is 33 cents each. If 5000 mints are gone then he should have got $1666. Instead he got $1427. Divide 1427 by 1666 and you get .856. So, in this example I would say the shrinkage is 14.4% (just subtract .856 from 1)

Honestly if you're making $1000 every 2 weeks to drop off mints at a counter I wouldn't sweat the shrinkage too much. LOL

Question for Treadmill.... How long did you spend servicing these 125 locations.... in hours?

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Great stuff!! How much are you paying the locator? How long did it take to get all the boxes out?

I paid the locator 22.50 per location. Was supposed to be for 200 locations but could only get 125 because Sheridan ran out of boxes. Took locator 4 days to locate 125 locations.

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Who is your locater?

His name is Dennis Burdick. He has been doing this for at least 30 years. He is a in person locator. He will not do just a few locations, it really has to be worth his time to drive all the way to your locale.

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Update. Went yesterday and did a 2 week service on 33 of my best locations. Serviced 28 of 33 locations, 5 locations were not ready for servicing (they will probably go to a 4 week service schedule). Revenue for the 28 locations was $470.99. Don't have cogs as of yet, had to leave town early this morning to go make a delivery. Will have those numbers in a few days after I get back home. Next full scheduled service will be week of Oct. 29. Will be doing some weeding out of slow and high shrinkage customers.

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125 mint boxes were placed 2 weeks ago. Went last week to service all 125 locations for the first 2 weeks. Results are as follows: Revenue was 1427.77; Shrinkage was 34.5%. Cogs was 463.94. Do not have net numbers, will post when I get it calculated. Looks like I have some serious cleanup to do to lower the shrinkage down to a respected number. Next collection will be last week of this month.

Ran numbers for first 2 weeks are as follows: Revenue 1427.77 Shrinkage 32.4% Cogs 563.45

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Update. Went yesterday and did a 2 week service on 33 of my best locations. Serviced 28 of 33 locations, 5 locations were not ready for servicing (they will probably go to a 4 week service schedule). Revenue for the 28 locations was $470.99. Don't have cogs as of yet, had to leave town early this morning to go make a delivery. Will have those numbers in a few days after I get back home. Next full scheduled service will be week of Oct. 29. Will be doing some weeding out of slow and high shrinkage customers.

Reran numbers for the second service just completed: Revenue 470.99 Shrinkage 37.0% Cogs 186.94

Will have some work to do (pick up slow movers and high shrinkage) when I next service the route at the end of the month. I think should be about 30 locations (25% of route). Will have to find new homes for these plus will have another 125 located by the end of Nov.

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Ken, just for comparison. My sales for 18 locations 248.00 cog 86.75 Like before I count shrinkage in the cog. I think it will help to learn from each other and anyone that would like to.

I can't understand why your shrinkage is so high at .35 price point. What charity do you use. If you would rather keep this private pm me

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What was your actual Net for the first two weeks? Thanks

Around 700.

Ken, just for comparison. My sales for 18 locations 248.00 cog 86.75 Like before I count shrinkage in the cog. I think it will help to learn from each other and anyone that would like to.

I can't understand why your shrinkage is so high at .35 price point. What charity do you use. If you would rather keep this private pm me

The first 2 weeks I serviced all 125 locations to see which ones needed weekly, 2 week or monthly service. The second 2 weeks were the ones that needed 2 week service. The week of Oct. 29 will be a 4 week cycle with a thourgh clean up of slow and high shrinkage locations. I also sent you a PM.

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I am just now weeding my locations. I pulled 6 this week, it was cosing me to keep. I am seeing, KEEP THESE AWAY FROM KIDS. Which kids, right?:huh: Do the best we can, if we can't make a profit pull it. That is what I like best they are easy to carry and there is another location across the street.

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  • 2 weeks later...

UPDATE. October Report. 116 locations. Gross - $1876.61

Cogs. - $939.40. Shrinkage - 34.3%. Profit - $937.21

Avg. Gross per location. $16.18

Made a bunch of changes this month. Picked up 28 locations due to high shrinkage and low sales. Will be picking up about 15 more locations in 2 weeks when I do my 2 week stops. Even though this will bring my gross down a bit, it should lower my shrinkage quite abit and bring my profit margin up quite a bit. Won't have those numbers until Dec. Also at that time I will have locator doing another 125 locations plus relocating the ones that have and will be pulled (approx. 40-50 locations.). I am finding out that my shrinkage problem is happening in all types of neighborhoods, not just the ones with less money.

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Thanks for the update treadmill. Have you tried putting a note one the box in the locations with high shrinkage?

Yes I have. I had Frank aka Sweetstop make me a new sticker for the front of the box to help remedy the problem. I havexa picture of my mint honor box with the new sticker on it. I will try to post it later when I get some time. The ones that were just blantly high I just pulled because there is no hope for them. I wanted to stop the bleeding. Next month should look a whole lot better.

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Ok. Was curious if you had tried that. I put a note on one box in a cellphone place where shrinkage was blatantly high.. Box was in a break room in the back and they were just thieves. The note helped a lot but in the end I was loosing money and pulled the box.

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