newheart53 Posted November 2, 2012 Share Posted November 2, 2012 Excellent report, I enjoy the updates. Honor system is only good to the honorable people, which thankfully they still outnumber the unhonorable people. Your plan sounds good and will be waiting on your next update. Once I get some money flowing I'm def. getting into this. Link to comment Share on other sites More sharing options...
bbeckl Posted November 3, 2012 Share Posted November 3, 2012 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. curious, what do you consider high shrinkage and low sales? Link to comment Share on other sites More sharing options...
treadmill Posted November 3, 2012 Author Share Posted November 3, 2012 curious, what do you consider high shrinkage and low sales? Anytime when sales of $5 or less per month and anytime missing mints does not add up correctly with sales (ie. 5 mints left with $5 in receipts). Now remember with 100 mnts per box mint cost is $7 for break even on mints. Link to comment Share on other sites More sharing options...
treadmill Posted November 3, 2012 Author Share Posted November 3, 2012 I should say anytime receipts are not equal to the number of mints left. Make sense??? Link to comment Share on other sites More sharing options...
treadmill Posted November 4, 2012 Author Share Posted November 4, 2012 Here is a pic of my mint box. Link to comment Share on other sites More sharing options...
bbeckl Posted November 4, 2012 Share Posted November 4, 2012 That makes sense. That set up looks very good, i like the stickers. Link to comment Share on other sites More sharing options...
treadmill Posted November 28, 2012 Author Share Posted November 28, 2012 UPDATE. November Report. 77 locations serviced out of 80. Revenue $1124.34. Cogs $798.07. Shrinkage 23.8%. Avg. per box $14.60. Time to service the whole route which includes counting money, candy and restocking boxes for next day about 24 hours over 2 days. Numbers look like they are in line. Did pull quite a few locations this last month and the numbers reflect that. Also lost my best location (around $325 for 6 weeks) due to them not wanting to babysit the counter where the box was located. Looking forward to adding another 125 locations this month. Those numbers will be reflected on Dec. report. That's all for now. Link to comment Share on other sites More sharing options...
loach33 Posted November 29, 2012 Share Posted November 29, 2012 UPDATE. November Report. 77 locations serviced out of 80. Revenue $1124.34. Cogs $798.07. Shrinkage 23.8%. Avg. per box $14.60. Time to service the whole route which includes counting money, candy and restocking boxes for next day about 24 hours over 2 days. Numbers look like they are in line. Did pull quite a few locations this last month and the numbers reflect that. Also lost my best location (around $325 for 6 weeks) due to them not wanting to babysit the counter where the box was located. Looking forward to adding another 125 locations this month. Those numbers will be reflected on Dec. report. That's all for now. COG wasn't really $798 correct? That's just a $300 profit? Looks like that's reversed... Was COG $326? Link to comment Share on other sites More sharing options...
treadmill Posted November 29, 2012 Author Share Posted November 29, 2012 COG wasn't really $798 correct? That's just a $300 profit? Looks like that's reversed... Was COG $326? Cogs should be 482.67. That include amount donated to charity, fuel and cost of mints sold along with shrinkage. Link to comment Share on other sites More sharing options...
treadmill Posted November 29, 2012 Author Share Posted November 29, 2012 Don't ask how I came up with that ridiculous number but the cogs should be 482.67. That include amount donated to charity, fuel and cost of mints sold along with shrinkage. Link to comment Share on other sites More sharing options...
bulkjake Posted January 16, 2013 Share Posted January 16, 2013 Hey treadmill, how was your December? Link to comment Share on other sites More sharing options...
treadmill Posted January 17, 2013 Author Share Posted January 17, 2013 Hey treadmill, how was your December? I have been quite busy of late with my regular job and also prepping up boxes for my locator who just happens to be placing them this week. Will be able to get that update out hopefully by the end of this week. Link to comment Share on other sites More sharing options...
jharper2346 Posted January 21, 2013 Share Posted January 21, 2013 Any update? Great thread by the way! Thanks! Link to comment Share on other sites More sharing options...
treadmill Posted January 22, 2013 Author Share Posted January 22, 2013 December Update: 69 Locations Serviced. Revenue $1012.5 COGS $486.43 Shrinkage 32.3% Profit $526.07 Avg. per box: $14.67 Numbers for month of Dec. look so so. Shrinkage went back up after I cleaned up the worst locations. Just had another 141 boxes placed last week for a total of 211 boxes on location. Will be doing a 2 week service next week on the 141 new locations as well as a 4 week service on the remaining balance of 69 locations. I am hoping that I can do 60 locations per day. This should take 3 1/2 to 4 days to complete. Will have those numbers on Friday next week. Link to comment Share on other sites More sharing options...
jharper2346 Posted January 22, 2013 Share Posted January 22, 2013 Thanks for the update and can't wait for the next one. How full/empty have your boxes been when you service them? After you check out the new ones, is your plan to service all of them every 4 weeks or will you still be doing high volume ones every two weeks? Link to comment Share on other sites More sharing options...
treadmill Posted January 22, 2013 Author Share Posted January 22, 2013 Thanks for the update and can't wait for the next one. How full/empty have your boxes been when you service them? After you check out the new ones, is your plan to service all of them every 4 weeks or will you still be doing high volume ones every two weeks? It just depends. I have some locations that only use no more than half a box of candy and I have some that use anywhere from a half box to a full box per month. When I service box I count the left over candy. Over time there has been a pattern developing. I now put 50 mints in the slower boxes and put 100 mints in the busier ones. This is to keep an accurate count of the shrinkage and also to I don't have to count excess candy every month. Also keeps cost of candy to a minimum. Then I have a few that I just pack as many as I can and give them and extra 200 mints. I still plan on doing my best locations every 2 weeks. That only takes 1/2 day to do that and I will do the others every 4 weeks. The way the route is set up, they are close toghether I think I will be able to do 60 per day. Feb. will be the month that I will start to cull the new locations and hopefully by the end of Mar. I will be ready for the next 125-150 new locations. Link to comment Share on other sites More sharing options...
jharper2346 Posted January 22, 2013 Share Posted January 22, 2013 Wow, that's going to be a ton of boxes, but I'm sure you can handle it! Did your locator discuss his approach with you at all? If so, can you share? If I do these, then I plan on locating myself at first so any tips you have are greatly appreciated. Link to comment Share on other sites More sharing options...
treadmill Posted January 22, 2013 Author Share Posted January 22, 2013 Wow, that's going to be a ton of boxes, but I'm sure you can handle it! Did your locator discuss his approach with you at all? If so, can you share? If I do these, then I plan on locating myself at first so any tips you have are greatly appreciated. Well the main thing is not to grow too big too fast because it can become overwelming and then if you are not careful you could get discouarged and throw in the towel. I planned on 125 locations to start, then cull the bad locations and then add another 125. Rinse and repeat until I reach the desired number. I use a locator because I drive for a living and I don't have the time. What do you mean by "his approach"? Link to comment Share on other sites More sharing options...
jharper2346 Posted January 22, 2013 Share Posted January 22, 2013 Sorry for the confusion. I mean when he finds a location that he feels would do well with an honor box...what does he say when he walks in, who does he speak to, does he carry a full mint box when he approaches? What time of day is most successful? Out of all your locations, what % are clothing stores, restaurants, etc? Thanks for all the info you have already provided by the way! Link to comment Share on other sites More sharing options...
treadmill Posted January 22, 2013 Author Share Posted January 22, 2013 Sorry for the confusion. I mean when he finds a location that he feels would do well with an honor box...what does he say when he walks in, who does he speak to, does he carry a full mint box when he approaches? What time of day is most successful? Out of all your locations, what % are clothing stores, restaurants, etc? Thanks for all the info you have already provided by the way! I really don't know what he says when he goes in. He takes the box in with him and talks to owner or manager. He starts at 9 in the morning and goes to about 6 at night. He hits probably 130 locations per day. I don't know what the % are but he gets one with waiting areas, restaurants, car repair places, hair salon, nail salons , etc. One with aot of foot traffic. His goal is to get 30 locations a day. Sometimes he gets 35 sometimes he gets 25.. It all depends on the area. Link to comment Share on other sites More sharing options...
VendNovice Posted January 23, 2013 Share Posted January 23, 2013 Hey, Treadmill; Thanks, good to see you're moving into next-level mode the way we'd discussed. Link to comment Share on other sites More sharing options...
treadmill Posted February 4, 2013 Author Share Posted February 4, 2013 January Update. 204 of 210 locations serviced. Gross $2277.12. Profit $1185.61. Cogs. $1091.51. Shrinkage 34%. Had locator come out on the 14th of Jan. and he placed 140 new boxes for me. This service cycle includes the 70 locations that were left over from the original 125 placed last Sept. and the 140 new locations. The pulls from the 140 were for only 2 weeks and there looks to be about 10-20 locations that are probably going to be my high shrinkage locations that will be pulled next service cycle. All in all pretty much satisfied with the results so far. Link to comment Share on other sites More sharing options...
jharper2346 Posted February 5, 2013 Share Posted February 5, 2013 Great results! How long did it take you to service that many boxes? Also, I'm sure you mentioned this before, but do you include gas in your COGS? Link to comment Share on other sites More sharing options...
treadmill Posted February 5, 2013 Author Share Posted February 5, 2013 Great results! How long did it take you to service that many boxes? Also, I'm sure you mentioned this before, but do you include gas in your COGS? The route took me 4 days to service this time. The new locations worked out well. They were close together and mixed in together with the older locations. This made it go faster and I got more locations done per day. My cogs consist of candy cost of mints taken from box, donation to charity and fuel. Link to comment Share on other sites More sharing options...
A4family Posted February 10, 2013 Share Posted February 10, 2013 This is awesome stuff, as one of my coworkers was eating candy out of an honor box on our front counter it dawned on me, someone is making money right now, they didn't even have to punch the time clock. I just never thought of it before, now it's in my face everywhere. I gotta start doing this. It looks like your doing service ever two weeks, is that right? How many hours per service? Keep it going! Link to comment Share on other sites More sharing options...
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