tc vending Posted September 10, 2015 Share Posted September 10, 2015 Thoughts on working with a vending management company? Link to comment Share on other sites More sharing options...
AZVendor Posted September 10, 2015 Share Posted September 10, 2015 Just realize that that you will be giving all control to them regarding pricing, commission and equipment decisions. This is a good way to get more accounts but you'll never control anything with them and you always stand to lose the accounts at a moments notice. Some management companies are easy and flexible and many are not. They are always in it to grab a piece of the pie as a middleman doing no work. Rememberi . g where you stand with them is important so there are no surprises. Link to comment Share on other sites More sharing options...
allen watson Posted September 10, 2015 Share Posted September 10, 2015 They are like a necessary evil. As long as you can set your own prices to cover their take. You can make money with them. Some will dictate prices both good and bad. I work with 4 different ones and usually do ok with them. Sent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
RJT Posted September 10, 2015 Share Posted September 10, 2015 Like other have said they have both good and bad dealing with them. They can help you get some accounts but many times you are at the mercy of what they set as far as prices and commissions. One big disadvantage is loosing the locations by no fault of your own. I was managing a vending company that had 6 Lowes hardware locations which where pretty good accounts and lost them all because the vending management company lost the contract. We also lost other accounts due to this over the course of time. Another situation is the V M company gets bought out and you loose the accounts. This also happened to us when Canteen bought out the VM company and took the accounts in house and did them themselves. Depending how you have structured your vending operation this could really be detrimental to some companies with that kind of lost revenue. Just know going into it that you could loose the accounts and do nothing wrong on your part all because the vending management company simply lost the contract. This could just happen because they where out bid by a percent or two on commissions,. Usually you will know (or you should ask) how long the contract is good for. This will give you some ideas on what the risk are based on your capital layout. Allen Watson said they are a necessary evil which I don't really agree with because you can get your own accounts. I suggest you ramp up your sales (knowledge, ability, program, etc) and make a strong effort to secure your own accounts where you will have more control and make more money because it is one less person getting a piece of the pie. Just FYI, my consulting company I own does some vending management because we get calls from companies (locations) wanting to have a one stop shop to handle their vending. Even with that said I still think it is imperative that vending operators have a strong sales program to get their own accounts. Link to comment Share on other sites More sharing options...
tc vending Posted September 10, 2015 Author Share Posted September 10, 2015 I decided to pass on the location. I have better opportunities I am working on. Thanks for the advice. Link to comment Share on other sites More sharing options...
SchligVend Posted September 12, 2015 Share Posted September 12, 2015 I work with 2 management companies right now, One has given an account that is my top 5 in sales... yes I pay a 15% off the top commission but its still a good account.. Another company I work with delivered brand new machines to me to place at a couple retail stores and they cover all repairs... Cant beat that! Link to comment Share on other sites More sharing options...
allprovending Posted September 12, 2015 Share Posted September 12, 2015 I have gotten 7 accounts from a vending management company and so far so good. They only want 5% which I think is pretty decent. Link to comment Share on other sites More sharing options...
MidStateVending Posted September 12, 2015 Share Posted September 12, 2015 I know a guy who uses a management company. Charges very little for the accounts, but you have to purchase their machines. He said the machines cost around $2500... and so far he has been happy with the service. This might be a special exception however. I am not opposed to trying out a management company. If they don't provide a killer account then don't trust them anymore and move on. I prefer establishing a network with other vendors, then purchase from the ones you trust. Link to comment Share on other sites More sharing options...
buyer214 Posted September 14, 2015 Share Posted September 14, 2015 Can anyone tell me what companies are operating in Canada? And if there are any we should stay away from at any cost? Link to comment Share on other sites More sharing options...
buyer214 Posted September 18, 2015 Share Posted September 18, 2015 Anyone? Link to comment Share on other sites More sharing options...
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