Raising Prices

[marzvending]

is there a topic on this? how would you go about raising prices on sodas or snacks?? should i even try to raise my prices? my can cokes are at 75 cents with gas prices, prices of sodas and other expenses i wouldn't mind making a little more profit.. should i attempt to go 85 cents or $1.00??  do i type a little note and post on my soda machines for the recent price changes or just higher the prices without saying anything?? what should i do?

[mission vending]

is there a topic on this? how would you go about raising prices on sodas or snacks?? should i even try to raise my prices? my can cokes are at 75 cents with gas prices, prices of sodas and other expenses i wouldn't mind making a little more profit.. should i attempt to go 85 cents or $1.00??  do i type a little note and post on my soda machines for the recent price changes or just higher the prices without saying anything?? what should i do?

 

Raising prices for the sake of raising prices is probably not a good idea. I'm sure we all want to make a little more profit.

 

Some questions:

 

1. Has your cost of goods increased enough to justify the increase?

 

2. What is the competition doing in your market? If everyone is at 1.00 on cans then its a legitimate conversation, if everyone is at .75 then its probably not.

 

If you do decide to raise prices, first have a conversation with your point of contact and feel them out about it because a price increase, especially one unannounced, is a good trigger for a location to go comparison shopping for vending companies

[moondog]

If you do raise prices, avoid 85 cents as that amount will tend to drain your nickels tube - very few people will use nickels to pay with, so you won't collect enough to keep the tube filled.  When you run out of nickels, the bill validator turns off.

[marzvending]

If you do raise prices, avoid 85 cents as that amount will tend to drain your nickels tube - very few people will use nickels to pay with, so you won't collect enough to keep the tube filled.  When you run out of nickels, the bill validator turns off.

hey moondog i have a soda machine at an apartment complex near the pool and laundry mat well ive notice i would run really low on quarters even to the point when the bill acceptor stopped working well tenants were using my soda machine to make change they would put in a dollar and press the change back button and quarters would make change, is there any way i can prevent this

[moondog]

hey moondog i have a soda machine at an apartment complex near the pool and laundry mat well ive notice i would run really low on quarters even to the point when the bill acceptor stopped working well tenants were using my soda machine to make change they would put in a dollar and press the change back button and quarters would make change, is there any way i can prevent this

 

I think there is.  It has to do with how you set your bill escrow on the validator.  It can be set to give the dollar bill back if no purchase is made.  Start a new thread with the model of your validator and I'm sure somebody here can tell you exactly how to do it.

[mission vending]

I think there is.  It has to do with how you set your bill escrow on the validator.  It can be set to give the dollar bill back if no purchase is made.  Start a new thread with the model of your validator and I'm sure somebody here can tell you exactly how to do it.

 

Or you could set the machine to force vend, if they put money in they have to buy something.

[moondog]

Or you could set the machine to force vend, if they put money in they have to buy something.

 

Easy there big guy - we're already talking about raising prices and pulling their supply of quarters. Let's not start a riot here as this is an apartment complex and I doubt they need a mooring anchor in the pool 

[AZVendor]

hey moondog i have a soda machine at an apartment complex near the pool and laundry mat well ive notice i would run really low on quarters even to the point when the bill acceptor stopped working well tenants were using my soda machine to make change they would put in a dollar and press the change back button and quarters would make change, is there any way i can prevent this

Tell us what model and which control board you have and we can tell you how to enable bill escrow or force vend to prevent the bill changer function.

[tc vending]

I have an apartment complex that used run the quarters out, its by the laundry. I set it to force vend sales increased and quarter problem was gone.

[tedk]

A school account had a foosball table right in front of my machines. I filled them with quarters twice a week for awhile. Then I went to forced vend and never had to re-fill the quarters again.

[Poplady1]

Force vend all the way.  

[AZVendor]

Force vend isn't as bad as it sounds.  When people put money in the machine they are intending to buy something and the machine just ensures that they do.  If it's a situation where the customer doesn't have enough money for a vend, force vend won't apply until the lowest vend price is met.  Up until then pressing the coin return will still return their money, if the coin mech is working properly.