dpvnc Posted February 19, 2011 Share Posted February 19, 2011 Each day my vending business is getting closer to 1 year old. I ended 2010 with over 100 heads in the field, started in May with three heads. Spent a good portion of last year learning from the wise sages here on the TVF. Changed business plan from buying new machines to used and refurbishing some machines. Had to learn what sells and what don't after watching all the go out and make it a great day videos. I have used locator and have located myself. The company survived it's first slow season with increasing sales. I thought I had positioned the company for a great 2011. 2011 hit and in the first 2 months. I lost 2 locations with a total loss of about 13 heads in one and 18 heads in the other. That sent the old head spinning and questioning if I should keep this up. Bottom line is I get a little excited going to service locations and find it fulfilling. So Steve I think I am ready for vending middle school. Link to comment Share on other sites More sharing options...
mission vending Posted February 21, 2011 Share Posted February 21, 2011 I thought I had positioned the company for a great 2011. 2011 hit and in the first 2 months. I lost 2 locations with a total loss of about 13 heads in one and 18 heads in the other. That sent the old head spinning and questioning if I should keep this up. I know what you mean. Owning a small business is almost like being bipolar. You get the highs from getting a new location and setting it, then come the lows of losing an account, especially one that turns out to be a total surprise. Link to comment Share on other sites More sharing options...
will.vend Posted February 22, 2011 Share Posted February 22, 2011 Each day my vending business is getting closer to 1 year old. I ended 2010 with over 100 heads in the field, started in May with three heads. Spent a good portion of last year learning from the wise sages here on the TVF. Changed business plan from buying new machines to used and refurbishing some machines. Had to learn what sells and what don't after watching all the go out and make it a great day videos. I have used locator and have located myself. The company survived it's first slow season with increasing sales. I thought I had positioned the company for a great 2011. 2011 hit and in the first 2 months. I lost 2 locations with a total loss of about 13 heads in one and 18 heads in the other. That sent the old head spinning and questioning if I should keep this up. Bottom line is I get a little excited going to service locations and find it fulfilling. So Steve I think I am ready for vending middle school. dave, you have been in vending just long enough to start noticing trends and cycles, it's a constant ebb and flow, Im impressed that you even had locations of that size so early on in your vending career, large locations are great but as you noticed they sting a little bit worse when you lose them. I am always looking for those great money maker accounts but rather than constantly trying to hit a homerun I focus more on just getting base hits. The homeruns will take care of themselves in time. One advantage full time bulk vendors have over part time is we can scout a location for months even years waiting for the right time to pounce. It allows us to be a little more selective and reducing lost locations in the future. When I lose a location it always lights a fire under me to get a new one. In your case you will probably have to land several locations to equal the # of machines you had in those 2 locations, but as I have gotten to know you, it wont be a problem. Save a seat for me because I need to edumucate myself too! Link to comment Share on other sites More sharing options...
sbishop Posted February 22, 2011 Share Posted February 22, 2011 When I was running a computer repair company, we set up service contracts with local businesses. I made it a goal to make sure that one client was not too large of a percentage of the total contracts. That way if we lost a client it would not put us out of business. The same can be said for vending locations.If you land a big location Great!!, just go find some more so that 1 location is not 25% or more of you business. I think it was "the vending uncle" that said "Locations are like floats in a parade. They come around the corner and you enjoy them for a while until they disappear out of sight. IF you stop added new locations soon the parade will end!" Link to comment Share on other sites More sharing options...
dpvnc Posted February 23, 2011 Author Share Posted February 23, 2011 Thanks for the encouragement Link to comment Share on other sites More sharing options...
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