Snack box update

[bhumphrey829]

340 locations.  Grossed $2,250.50  Avg. $20.10 per box  Theft ran 15%  Serviced 112 locations. (ran 4 days)

[bhumphrey829]

336 locations:  Grossed $1,859.50  Avg $17.85 per box.  Theft ran 21%  (too high!)  Serviced 104 locations (ran 4 days)

[bhumphrey829]

329 locations:  Grossed $2,156.75  Avg.  $22.00 per box.  Theft ran 14%  serviced 98 locations.  (ran 4 days)

[bhumphrey829]

329 locations:  Grossed $1,959.00  Avg .  $18.50 per box.  Theft ran 20%.  Serviced 106 locations.  (ran 4 days)

[VendingKingllc]

Thanks for sharing, i might have missed this somewhere along the way but are those numbers for 4 weeks?  Also, what would you say is your avg Net?

[VAVending]

2 hours ago, VendingKingllc said:

Thanks for sharing, i might have missed this somewhere along the way but are those numbers for 4 weeks?  Also, what would you say is your avg Net?

1 week, this week. Those numbers are from the 106 locations he serviced in the four days he ran this week.

[bhumphrey829]

2 hours ago, VendingKingllc said:

Thanks for sharing, i might have missed this somewhere along the way but are those numbers for 4 weeks?  Also, what would you say is your avg Net?

Sorry it took so long to respond, i was out of pocket.  Those numbers are weekly numbers.  As far as net goes, It's a little over half of my gross, once i pay for products

[bhumphrey829]

321 locations.  Grossed $1,822.75  Avg. $18.80 per box.  Theft ran 21%  serviced 97 locations (ran 4 days)

[bhumphrey829]

334 locations.  Grossed $2,028.25  Avg.  $19.50 per box.  Theft ran 12%  Serviced 104 locations (ran 4 days)

[bhumphrey829]

336 locations.  Grossed $1,768.00 Avg. $17.36, theft ran 20% serviced 102.  (ran 4 days)

[Jack Marone]

What kinds of product do you use to sell? And do you get your boxes requested to move often?

[bhumphrey829]

I sell chips, cookies,pastries, crackers, and nuts.  And in this business, if you run it the right way, you will always be pulling and placing new acccounts simply because when you place a box, you won't know for a few services whether it is a good location or the theft will be too high to keep.  As far as having a business ask me to remove a box, that does not happen very often at all.  Hope this helps

[bhumphrey829]

Weely update:  334 locations.  Grossed $1,849.25  Avg  $18.50 per box.  Theft ran 21%  serviced 100 locatons, ran 4 days.

[flintflash]

44 minutes ago, bhumphrey829 said:

Weely update:  334 locations.  Grossed $1,849.25  Avg  $18.50 per box.  Theft ran 21%  serviced 100 locatons, ran 4 days.

Looks like things are still humming along!  Posting some GREAT numbers my friend!  Hope all is going well!   

[bhumphrey829]

My theft is rising for some reason, can't figure it out.  I'm looking a for a locator right now so i can focus on running routes, but I'm just procrastinating in hiring someone because I can't really affford to hire someone like on  a full time basis.  I'm afraid i will find someone that might put out 10 boxes a day, i would be broke in a hurry if that happened lol.  I am planning on paying $15.00 per location.  Your thoughts on this Tony?

 

[Jack Marone]

On 9/26/2018 at 5:38 PM, bhumphrey829 said:

I sell chips, cookies,pastries, crackers, and nuts.  And in this business, if you run it the right way, you will always be pulling and placing new acccounts simply because when you place a box, you won't know for a few services whether it is a good location or the theft will be too high to keep.  As far as having a business ask me to remove a box, that does not happen very often at all.  Hope this helps

Extremely helpful info, that’s good that you don’t get requested to move often. That’s something I noticed with the lollipop boxes. Could I ask one more thing about the chip size you use? Do you buy the packs from Sam’s Club and use 1.5oz bags? 2oz? Your expansion gave me a lot of motivation, I’m really considering trying this out

[bhumphrey829]

2 hours ago, Jack Marone said:

Extremely helpful info, that’s good that you don’t get requested to move often. That’s something I noticed with the lollipop boxes. Could I ask one more thing about the chip size you use? Do you buy the packs from Sam’s Club and use 1.5oz bags? 2oz? Your expansion gave me a lot of motivation, I’m really considering trying this out

Yes, I use the bigger size bags that they sell at sams.  It is definitely an untapped market when you consider all of the other  types of vending that is out there.  And you will have plenty of support from guys on this forum.  If you have any questions, don't hesitate to ask.

[Jack Marone]

Actually yes one more question for now, I’m sure I’ll have more. I see you’re tracking theft through a percentage, typically around 20%, I’m a little lost on how that’s being calculated. Is it 20% of items are missing? Or you see that you only have 80% of the products paid for? 

1 hour ago, bhumphrey829 said:

Yes, I use the bigger size bags that they sell at sams.  It is definitely an untapped market when you consider all of the other  types of vending that is out there.  And you will have plenty of support from guys on this forum.  If you have any questions, don't hesitate to ask.

 

[flintflash]

9 hours ago, bhumphrey829 said:

My theft is rising for some reason, can't figure it out.  I'm looking a for a locator right now so i can focus on running routes, but I'm just procrastinating in hiring someone because I can't really affford to hire someone like on  a full time basis.  I'm afraid i will find someone that might put out 10 boxes a day, i would be broke in a hurry if that happened lol.  I am planning on paying $15.00 per location.  Your thoughts on this Tony?

 

$15 a box is going rate.  That is what I pay.  Look for a part time college kid, mom or retiree to work a couple days a week.  1099 them or put them on payroll (but that opens up a whole new can of worms).  Stay away from these locator services.  Tele-sale placements NEVER work out, so don't let them tell you otherwise.  Your shortage rate is not that bad, especially since you are at $1.25.  Once you hire a part-time sales rep and focus on your routes, you'll be able to tweak the shortage and get it back in line.  Oh....and there will come a day when you WILL want 10 boxes a day...  That is what I look for...lol!    

[flintflash]

30 minutes ago, Jack Marone said:

Actually yes one more question for now, I’m sure I’ll have more. I see you’re tracking theft through a percentage, typically around 20%, I’m a little lost on how that’s being calculated. Is it 20% of items are missing? Or you see that you only have 80% of the products paid for? 

 

If I can answer this one...it's the percentage of money NOT collected.  SO...say you are at $1 price and you have 40 items in your box.  You go to service your account and 24 items are LEFT in the box.  That means 16 items had been PURCHASED so you are looking for $16 dollars in your coin box ( 40 items - 24 left = 16 used x $1 = $16).  You cash out the coin box and there was only $12 collected.  You are short $4, therefore that account ran 25% short ($16 - $12 = $4 / 16 + 25%).  To calculate the entire route shortage, take the TOTAL RETAIL AMOUNT (amount that was used) - TOTAL CASH COLLECTED divided by (TOTAL RETAIL AMOUNT) = TOTAL SHORTAGE %.  You want to strive for 20% or LESS overall for the ENTIRE route.  You WILL have a few accounts run over that and some that run way better than that, but you want the ENTIRE route collectively to run 20% or less.  Hopefully this helps!   

[bhumphrey829]

43 minutes ago, flintflash said:

$15 a box is going rate.  That is what I pay.  Look for a part time college kid, mom or retiree to work a couple days a week.  1099 them or put them on payroll (but that opens up a whole new can of worms).  Stay away from these locator services.  Tele-sale placements NEVER work out, so don't let them tell you otherwise.  Your shortage rate is not that bad, especially since you are at $1.25.  Once you hire a part-time sales rep and focus on your routes, you'll be able to tweak the shortage and get it back in line.  Oh....and there will come a day when you WILL want 10 boxes a day...  That is what I look for...lol!    

LOL I couldn't agree more about the tele-sales.  I cringe when i see people on here posting about using them.  For one thing, what they charge is outrages and not only that it takes soooooooooo many calls to get locations because it's so much easier to say no over the phone than it is in person with box in hand.

And believe me, I am ready to get it up to 10 locations per day!

[flintflash]

33 minutes ago, bhumphrey829 said:

LOL I couldn't agree more about the tele-sales.  I cringe when i see people on here posting about using them.  For one thing, what they charge is outrages and not only that it takes soooooooooo many calls to get locations because it's so much easier to say no over the phone than it is in person with box in hand.

And believe me, I am ready to get it up to 10 locations per day!

So true, so true!  My biggest issue with phone sales is that it is NOT a true sale.  There is way too much time between the phone sale and when the box gets delivered for the customer to change their minds.  Besides, I don't believe for one minute that the leads those locators give are 100% sold and solid leads.  I can easily go through the phone listings, give someone a list of businesses and tell them that these places want snack trays.  A few of them may even take a tray, but it would be the face-to-face contact that sold the tray.  The ONLY way to sell Honor snacks is to do it door-to-door and face-to-face.  Let the customer see your service, talk with the customer and encourage them to try you out.  

It has been so FUN to watch your business grow these last couple years and you are about ready to jump to that next level.  Let me know if there is anything I can do to help, my friend! 

[VAVending]

3 hours ago, Jack Marone said:

Actually yes one more question for now, I’m sure I’ll have more. I see you’re tracking theft through a percentage, typically around 20%, I’m a little lost on how that’s being calculated. Is it 20% of items are missing? Or you see that you only have 80% of the products paid for? 

 

Jack, if you don’t do the accounting just so, it’ll drive you nuts (speaking from experience). But at the same time it’s ridiculously easy once you know how.

Look this page over, Dennis spells out step by step how his accounting works:  http://www.vending-business-information.com/honor-system-snack-box.html 

Also take a look around the rest of his site; he’s shared a LOT of great info.

Once you’ve read his accounting scheme, you can pop over here:

That’s my current digital accounting “binder”.

You simply put in how many items sold and how much money was in the box at the end of the week, and it calculates shrinkage amount and percentage for you. If you download it and take a look hopefully it will make sense.

Hope these help and spur you on into a really great business.

Benjamin

[bhumphrey829]

4 hours ago, flintflash said:

So true, so true!  My biggest issue with phone sales is that it is NOT a true sale.  There is way too much time between the phone sale and when the box gets delivered for the customer to change their minds.  Besides, I don't believe for one minute that the leads those locators give are 100% sold and solid leads.  I can easily go through the phone listings, give someone a list of businesses and tell them that these places want snack trays.  A few of them may even take a tray, but it would be the face-to-face contact that sold the tray.  The ONLY way to sell Honor snacks is to do it door-to-door and face-to-face.  Let the customer see your service, talk with the customer and encourage them to try you out.  

It has been so FUN to watch your business grow these last couple years and you are about ready to jump to that next level.  Let me know if there is anything I can do to help, my friend! 

You know i will. I have very much enjoyed you as a mentor, and without you i definitely would not be where i am right now, even though i am still a long way away from where i want to go.    I am still confused on how your drivers can still get 10 locations a day (try), after this long.  I am starting to think my town may have almost reached it's limit after 3 years, although there are still a lot of cities i have not touched yet, i am trying to stay as close as i can for as long as i can before branching out if that makes sense

[flintflash]

2 hours ago, bhumphrey829 said:

You know i will. I have very much enjoyed you as a mentor, and without you i definitely would not be where i am right now, even though i am still a long way away from where i want to go.    I am still confused on how your drivers can still get 10 locations a day (try), after this long.  I am starting to think my town may have almost reached it's limit after 3 years, although there are still a lot of cities i have not touched yet, i am trying to stay as close as i can for as long as i can before branching out if that makes sense

You have a TON of growth potential in your area, buddy!  I'm not sure how far out you are going right now, but as you expand your borders, it will be easier to sell more.  I figure that an area can be resold after about 6 months.  So as you grow, your market area will grow to the point that you will have plenty of territory to rotate between a 6 month period.  For a sales rep to thoroughly sell my market area, it would take about 2.5 years, so territory is always ready to be sold at any time.  This makes it easier for them to sell 6-10 boxes everyday.  Oh, and my route drivers don't do the selling.  I have sales reps that concentrate on only putting on new sales.  I'd love to see what your area coverage is right now.  I would be happy to check out the area and see what would make sense to expand to.