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GETTING STARTED: Goals and Plans

Goals amd Plans for Bulk Vending

Goals and Plans for Bulk Vending

Just like any other business, a comprehensive plan of action and a few realistic short-term and long-term goals are needed before jumping into bulk vending. Without a solid business plan and set of goals, you will end up wasting time, energy, and money.

Grab a pen, and write down exactly what you want to be able to accomplish with your new venture. Do you want to earn enough money to pay for your daughter’s dancing lessons every month? Do you want to generate extra income to tuck away for retirement? Are you saving up for your dream vacation? By defining your goals on paper, it will keep you focused and on track!

To get your business plan on a solid footing, consider how much money you would like to have in your back pocket at the end of each month from your vending business. From this figure, I will show you how to approximate the number of machine heads you will need to have on your route.

Let’s suppose your monthly profit goal is $3,000. According to Vending Times Magazine, the national average revenue per head is $1 per day or $30 per month. Factor in a 33.33% cost of goods sold, and we’re looking at a total profit of $20 every month.

So, how many machine heads will it take to bring home $3,000 a month in profit? All we have to do is take 3000 and divide by 20. The result, 150 machine heads.

Keep in mind that these calculations are based off of national averages. Depending on the locations you secure, your machines may do better or worse.

With a definable long-term goal of 150 machine heads, we can break this daunting task into smaller, short-term steps. Based on a three year plan, you will need to place roughly 4 machines every month or 1 machine every week. Doesn’t that sound much more manageable?!?

Now that you have a starting point, continue building your business plan, and don’t forget to RESEARCH, RESEARCH, and RESEARCH!

 

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