Safety
Vending machines provide the most proven method of contactless delivery of products currently available. For decades, vending machines have made it possible for consumers to purchase a wide array of products without direct human contact. As more businesses seek ways to limit interaction in the delivery of products, vending machines should be one of their first avenues of consideration. When properly operated and maintained, vending machines can be one of the safest and most convenient methods for distributing products available. The more advanced technology available for credit card payment systems further limits the frequent touchpoints on a machine. By developing and documenting a process to emphasize sanitary procedures for loading products and disinfecting machines consistently, operators can provide peace of mind for retailers and businesses seeking to make their customers and employees feel safe in their environments. Operators willing to consider new ways to sanitize and clean machines and products will have an advantage in opening new markets.
Efficiency
As businesses work to rebuild after the economic impacts of the COVID-19 pandemic, they will need to trim expenses and operate with minimal crews. The ability to distribute products and inventory required by employees without using valuable personnel will make the use of vending machines more popular than ever. Operators should analyze locations where they already have existing machines to determine if additional opportunities for vending could arise as a result of new practices being implemented to increase the efficiency of current operations. Modifying machines to manage inventory control or free vend products typically handled by employees are just two examples of possible new uses for machines with already existing customers. Retrofitting machines to vend items not traditionally considered popular or obvious choices could also help businesses see the possibility of broadening their use of machines in their facilities.
New Product Needs
This situation will permanently alter how we view and interact with the world around us. While personal protective equipment such as masks and gloves are not required in all areas, they are still products that many people are voluntarily using and need a ready supply of them to be easily accessible. Also, disinfectant spray and wipes and hand sanitizer are products people will be using in higher quantities for the foreseeable future. Hospitals will require larger amounts of personal protective equipment and a way to manage inventory to track usage and guarantee availability in all areas of the buildings. Vending machines with inventory control systems can be fitted to vend just about any product needed.
In addition to personal equipment, people will want to feel control of their interactions with people, and many may be seeking ways to permanently change the way they obtain consumable products. While manufacturers make machines for a variety of uses, after-market customization can expand the use of most machines. Operators are only limited by their ideas and vision for what they can sell from a vending machine. Machines can be used to sell everything from health and beauty to technology products. However, other uses for machines can include the distribution of products that would typically require human interaction, such as pickup for photos electronically submitted for one-hour printing. Shipping materials, small tools, books, and office supplies are other examples of items that can be issued to users through vending machines. Using what we have learned through the restrictions imposed to manage the spread of the Coronavirus, we can gain a new perspective and open new markets for the use of vending machines.
Developing safe practices for stocking and operating vending machines as well as cross-purposing them in already existing customers and developing new products to be sold and distributed can expand operators’ revenue streams without significantly increasing their workload. Diversified revenue streams are vital to building an operation that is the most protected from recession and changes in the marketplace. While many machines are already available directly from the manufacturers to cover these new uses, after-market customization can expand the scope and reach of existing machines.
There are many forms of market research to help operators find ways to expand their business. However, some of the most obvious is often overlooked. Taking time for a conversation with existing customers about their needs that have not yet been met can be the best place to find a starting point for expansion opportunities. Taking time to observe the activity in the buildings where machines are already vending can help identify the potential for new products that would sell well. Understanding the equipment being operated and the ability to adjust to broaden the services it can provide is another fundamental change that can generate immediate results.
This pandemic is a historic event that will disrupt the way day-to-day business is conducted. Those that can modify operations and offer solutions to provide services customers want will be the ones to not only survive this turn but also thrive. The future of the vending industry is limitless moving forward, and operators need only to look around them to find an opportunity for growth and diversification.
]]>What’s the reaction you get when you tell people you’re in the vending industry? Often, perplexed is the best way to describe how someone looks when given that information because it is not an industry that first comes to mind. One of the reasons for that maybe that vending does not require many employees when compared to other more labor-intensive service industries, so not as many people know about it. In addition, especially when starting on a small scale, vending can be a relatively inexpensive industry to enter. Labor costs in vending are a much smaller percentage of overall business expenses than in many other industries. Have you ever thought about what an advantage that can be for your company and how you can capitalize on it?
According to an article on www.cpainerie.com, Michelle Edwards, CPA, writes, “Most business owners are surprised to learn that on average an employee will actually cost 25%-40% above their wages/salary amount.” In addition to salaries, employees can also mean payroll tax, insurance, benefits, and paid-time-off costs. To put this into perspective, if you pay an employee a base salary of $50,000, it would actually cost you a minimum of $62,500 to $70,000 annually for the work of that one person. Now, don’t get us wrong, a good employee is worth their weight in gold and then some, but when compared with those expenses, vending machines, the workhorse of your business, are a real bargain. So, what are you doing to protect that and ensure you get the best rate of return on your investment?
When a company finds a truly valuable employee, they will often go to extreme lengths to make sure that person stays with them as long as possible. What do you do to ensure your machines have the same longevity in your operation? You don’t need to offer paid vacation or insurance or send them off for training and professional development, but a little preventative maintenance can go a long way. Consider these simple steps to improve the life of your machines and maximum your return.
1. Regular Cleaning — Keeping your machines free of dust and debris can help protect them. Consider a monthly or quarterly cleaning routine. You can blow out or wipe down surfaces with dust build-up, inspect around the machine and remove any debris inside or out of the machine. Check for corrosion or buildup of deposits on any parts and address accordingly before it becomes a problem.
2. Preventative Maintenance — You never hear of them replacing a part on an airplane after it breaks. The same is true for a variety of machinery and equipment. Consider the parts that most commonly break on your machine and develop a rotating schedule of replacing for those parts, so they don’t stay in operation beyond life expectancy and create unnecessary downtime. In addition, make sure you are using GFCI plugs for all machines to protect against power surges.
3. Inventory — Changers and validators are the most used pieces of equipment on your machines. Consider keeping one or two of these on-hand to replace in a pinch and reduce the loss of time in service. Spiral clips are another one that comes in handy for snack machines.
Machines and parts will wear out or malfunction from time-to-time and nothing can completely stop that from happening, but by following these three simple steps, you can eliminate some downtime and lots of headaches along the way.
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