fredfarmer775 Posted June 23, 2013 Posted June 23, 2013 Do any of you guys who are into bulk candy machines ever worry about inflation? If you've spent all that money on machines but the price for a gumball (or any other small candy) rises over your cost of doing business, what then? I've thought a whole lot myself about getting into the bulk candy business because I think it would be an awesome way to make a living but the inflation worries always makes me pull back from doing it. Any thoughts here?
antoniocinisi Posted June 23, 2013 Posted June 23, 2013 They sell .50 cent coin mechanisms you csn buy or upgrade too
VendingExperts Posted June 23, 2013 Posted June 23, 2013 I am building mostly bulk, will branch into other things as funds permit.(diversity) Will use higher mechs when the time comes. Dba's will come to more machines. And card readers will more and more earn there place as the times as at some point the economy will go completly cashless. No need to worry about tomorrow, as our worry won't change a thing. Do what is in your power with what you can, adjust and change when the times come to do so. If vending ever becomes obsolete which I doubt it ever will, then take your money and go into a different business. Until these things happen, if at all, achieve what you can!
nubianqueen Posted June 24, 2013 Posted June 24, 2013 No, I live in the present moment. I can't worry about things I have no control over.
fredfarmer775 Posted June 24, 2013 Author Posted June 24, 2013 Vending Experts, You said you are switching to card readers for bulk candy??? That sounds incredibly expensive to do. Wouldn't the card reader and service itself cost close to the total amount of the machine and on top of that wouldn't you would have to run AC power from whatever location you're using. I don't know if a lot of places would allow that with just a charity sticker on the machine. You'd have to then pay them a commission.
orsd Posted June 24, 2013 Posted June 24, 2013 your talking about now- i thought that this thread was about the future, when technology is going to develop to be cheaper.
VendingExperts Posted June 24, 2013 Posted June 24, 2013 No I was just generally speaking. I thought this was hypothetical and in the future. I don't believe that bulk vending is going anywhere in the near future. Yes the ACC is a current bulk vending machine with a dba. If the market demanded it, they could put a card reader on one, im sure. In the future if coins where to disappear, dba's and card readers would become more prevalent.
musser Posted June 24, 2013 Posted June 24, 2013 your talking about now- i thought that this thread was about the future, when technology is going to develop to be cheaper. Think about what you just wrote. In the future kids wont be interested in buying a crabby plastic ring, a lot of them are not now, they have become too sophisticated. Now a Chicken machine with blink may have legs (no pun intended). But there better be something in it thats worth having.
VendingExperts Posted June 24, 2013 Posted June 24, 2013 Coins are still around, so currently 1-10 year projection.... Quarters are working just fine!
Arqangel13 Posted June 24, 2013 Posted June 24, 2013 Inflation has already hit. In 2008 the real estate bubble bursted. Every year, a new bubble bust. Inflation is an ongoing process and cannot be stopped. The dollar is worth a lot less than it was in the 1980's. It will continue decrease. Things just cost more these days. Most people don't realize that the dollar is worth about a quarter, but they will catch on. So we used to pay $.25 cents for a candy bar 30 years ago that sells today for $$1.25. That has been a part of life forever. When we first started this country, a loaf of bread was worth about $ .02 cents. Not it is worth $2.00. That is just a part of life. As the value of the dollar goes down, people will realize that the $.25 cent candy bar is the same as the $.1.25 candy bar today. As time passes, the price of life goes up. That is inflation. We can't be expected to sell a gumball for $.05 cents anymore. Nor can we sell a Nestles Crunch for $.25 cents, when most markets are selling them for $1.25. Inflation has been a part of life since the beginning of time and will not cease. Plainly, the economy sucks. and we just have to deal with it just like evetyone else.
sherlock Posted June 24, 2013 Posted June 24, 2013 Do any of you guys who are into bulk candy machines ever worry about inflation? If you've spent all that money on machines but the price for a gumball (or any other small candy) rises over your cost of doing business, what then? I've thought a whole lot myself about getting into the bulk candy business because I think it would be an awesome way to make a living but the inflation worries always makes me pull back from doing it. Any thoughts here? Inflation affects every business. If you are going to own a business, your cost of doing business and how it's impacted by inflation is just another of the million things there is to worry about. However, there are A LOT of vendors with successful vending businesses running profitable routes...and they will continue to do so for the foreseeable future no matter the affects of inflation. You can be one of them if you spend more time reading through this forum and following the advice given by experienced vendors.
adog Posted June 24, 2013 Posted June 24, 2013 Just so you guys know the federal reserve allows 3% inflation a year. Sorry I havr been drinking but that is the average inflation rater that goes up a year.
davco1 Posted June 24, 2013 Posted June 24, 2013 Inflation happens because politicians area always spending more than the electorate will bear in taxes. The way they do that is to print more money and borrow more money. It's called deficit spending and it's how they get themselves elected!...and it's been going on a long time. The good news is....we have adjustable candy wheels and coin mechs with .50, .75, and 1.00....And one day maybe the dollar bill will be replaced by the dollar coin and we will have 1, 2, 3, and 4 dollar mechs.
Makes Cents Posted June 24, 2013 Posted June 24, 2013 Do any of you guys who are into bulk candy machines ever worry about inflation? If you've spent all that money on machines but the price for a gumball (or any other small candy) rises over your cost of doing business, what then? I've thought a whole lot myself about getting into the bulk candy business because I think it would be an awesome way to make a living but the inflation worries always makes me pull back from doing it. Any thoughts here? With bulk candy machines, flexibility is key in my opinion. As well as inflation, sugar, cocoa, peanuts, oil etc are all commodities and they rise and fall and affect product cost. I think the main thing is to know your costs and product averages and, like any good businessman, adjust these as needed to ensure profitability.
Action Vending Posted June 24, 2013 Posted June 24, 2013 One of the biggest problems with higher coinage mechs is that most people dont carry more than two quarters in there pockets.
sweetstop Posted June 25, 2013 Posted June 25, 2013 I think there will always be quarter machines out there, what is sold in them may change some more but you just have to be more creative in the ways you save in other areas. there is very little we can do about the candy cost. keeps routes closer together to save on fuel, minimize your selections so you stock less inventory. if your dealing with triples consider double or singles where you can be diligent about sales on candy and stock up when it happens go for quality not quantity, more locations doesn't mean more money! thats my .02
Cloudedjourney Posted June 26, 2013 Posted June 26, 2013 all the more reason to push for a 1 dollar coin! One of the nice things about working in Canada. I think with sugar being the price it is, you don;t have to worry about candy going up drastically in price anytime soon.
Makes Cents Posted June 27, 2013 Posted June 27, 2013 all the more reason to push for a 1 dollar coin! One of the nice things about working in Canada. I think with sugar being the price it is, you don;t have to worry about candy going up drastically in price anytime soon. Sugar is still a commodity and price is related to production and crops just like cocoa and peanuts etc. One bad season and prices spike. Plus you got oil prices which effect delivery cost. Costs go up, costs come down, just got to roll with it.
Action Vending Posted June 28, 2013 Posted June 28, 2013 all the more reason to push for a 1 dollar coin! One of the nice things about working in Canada. I think with sugar being the price it is, you don;t have to worry about candy going up drastically in price anytime soon. No thanks. gas is about 5.00 per gallon in Canada and has much higher taxes.
FrCorey Posted June 29, 2013 Posted June 29, 2013 You can also change your vend amount if you are using adjustable product wheels.
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