Jump to content

Business Plan??


ToddMiller
 Share

Recommended Posts

How many of you had a business plan for your bulk vending business before you placed your first machine out for the public to use?

If you did, can you please explain the benefits you have seen  by having a business plan in place?

If you didn't, can you explain why you didn't? What effects has not having a plan had on your business?

Thanks for your input.

 

Todd

Link to comment
Share on other sites

I did not have a buisness plan most of my machines were already placed

now we are looking at a Laundromat and in doing my homework have found that a buisness plan helps you set a path you want your buisness to take and sets goals you use this to keep you on track and also if you need financing it can be helpful in convincing investors to help you.

that is my limited knowledge hope it helps 

Link to comment
Share on other sites

Recently I called a lawyer and was in the process of asking him questions about incorporation when he asked which type of corporation my business plan called for. I said "uhhhhhh welllllll, I don't exactly have a business plan written up yet." He quickly exited the conversation saying he would send me some info but I have never heard from him since. I have started my business plan since and plan to finish it very soon. I at least want it because it shows you are serious about this business.

Link to comment
Share on other sites

If anyone would like to write a clear, concise business plan, We have a 258 page eBook in our vending library entitled "The Book on Business Planning" Its a great book to get you going on this.

Steve

Link to comment
Share on other sites

I do not have a business plan but you need a business plan if you have any hopes of being funded by anyone. They also help you see where you are coming from and where you want to go later on down the line.

I had to do a project for a business class and this was part of my presentation.

Link to comment
Share on other sites

  • 1 month later...

  Please keep in mind that even though, most are doing this for part time or passive incomes, you must still view this as a business, as the Federal and State governments view it as a business.

As far as business plans, it all depends on the person if it is really necessary.  One person may say, "well, I buy a machine or two here, and a machine or two there, but there's not really any rhime or reason to the growth......Much like profit, alot of people in vending collect the money and put the money in their personal accounts, not exactly knowing how much each site brings in on a monthly or yearly basis.

Now,  I felt it was necessary for me to come up with an informal business plan.  I do not plan on financing my growth, but because I do plan on reinvesting all of the profits from the business to expedite growth, I needed to write down what I should expect from each machine, and what is unacceptable.  I detailed a 60 month plan that would allow purchases from 20 to 50 machines at one time, after the 3rd year.  This plan would be attainable, if, I totally commit to reinvesting $15 a month from each machine back in the business..........

My 5 year goal is to have over 200 machines, however, please keep in mind that my business plan is for my personal goals........You can always change them as you go along, but it is best to see where you are right now, and where you want to be 1 year, 2 years and up along the way...........In my own opinion, unless you plan on having financing through a bank, a business plan is not needed, but it will help and guide you to stay on track and ultimately meet your desired goals.

Link to comment
Share on other sites

  • 5 months later...

I'm in the process of creating a business plan for my medical vending business and I can say that it's far easier to write down my goals for the business than to try to keep all the information in my head

Even if you're not planning on getting financed by a third party, I've found it far easier to focus on my goals when I have a clear and concise idea of what I am going to accomplish

In my opinion it's just a good financial habit

Link to comment
Share on other sites

I'm in the process of creating a business plan for my medical vending business and I can say that it's far easier to write down my goals for the business than to try to keep all the information in my head

Even if you're not planning on getting financed by a third party, I've found it far easier to focus on my goals when I have a clear and concise idea of what I am going to accomplish

In my opinion it's just a good financial habit

I don`t have a business plan either but goals.I did have to set higher goals.my original goals were met much sooner then expected.

I now have the amount of machines I want and intend on tweaking my route to maximize profits.

Antonio

Link to comment
Share on other sites

antoniocinisi wrote

I don`t have a business plan either but goals.I did have to set higher goals.my original goals were met much sooner then expected.

I now have the amount of machines I want and intend on tweaking my route to maximize profits.

Antonio

Congratulations on meeting your goals sooner than expected. It's always a better strategy to set realistic, attainable goals first, and it sounds like you've been doing that.

What was the first goal for your vending business? (cashflow? machine count?)

Link to comment
Share on other sites

Todd, I had goals and plans, but not a "business plan" per-say.

I was (and still am) very organized though.

I made sure I had all of my materials together (ie: uniform, cards, candy, machines, labels, tools, etc.)

Link to comment
Share on other sites

antoniocinisi wrote

I don`t have a business plan either but goals.I did have to set higher goals.my original goals were met much sooner then expected.

I now have the amount of machines I want and intend on tweaking my route to maximize profits.

Antonio

Congratulations on meeting your goals sooner than expected. It's always a better strategy to set realistic, attainable goals first, and it sounds like you've been doing that.

What was the first goal for your vending business? (cashflow? machine count?)

I was doing both cashflow and number of machines.

at first it was 10 machines and 500$$ a month that didnt happen so I made it 20 machines and 500 or more $$ a month.

I now have 18 machines and a rack of 7 machiness.I was going for 20 does the rack count as one or 7?I will stop with what I have  for now.between work,locateing,putting machines together, tweaking, and checking the route,lately I haven`t dedicated much time to my daughter.

I intend on stopping expansion untill the next service day and then getting a rack for the pizza shop.

after that I am done for a while.I think I have almost what I want,unless I come across a super location.

Link to comment
Share on other sites

Hi Todd,

I started a post a few month back that discusses the topic of business plans called, "Building your Empire" I talked about how important it is to have a plan in place. Many of our members talked about their particular plans. Check it out and add your plans if you like.

I personally, can not run a business with one...you must have some sort of direction before you can get to where you want to go. It's like driving to a new place without having a road map.

Gary

Here's the link:

http://www.vendiscuss.com/forums/view_topic.php?id=774&forum_id=1&highlight=building+an+empire

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...