The Psychology Of Vending Franchise Businesses
The Psychology Of Vending Franchise Businesses
1. Higher Traffic Means More Business
This, of course, makes numerical sense: if there are more people passing, more people will stop to purchase your product. But the importance of this goes far deeper than simply playing the odds. Consumers, as sad as it sounds, are in some ways like lemmings: what one does, others are likely to do as well. What the wise owner of a U-Turn Vending home business expects when he puts his machine in a busy bus depot is that when one person waiting for the bus sees it and drops a quarter for a quick snack, another awaiting bus rider will see and follow suit. And let’s face it, you know the theory works, because nearly everyone has been that second buyer, drawn into the purchase because someone made it look so good. U-Turn Vending may make some of the most interesting and innovative, swiveling candy machines in the industry, but the key to business success for any vending franchise is getting two customers instead of one.
2. Boredom Is A Vending Machine’s Best Friend
Not only does a successful vending machine need to be positioned in a location with a high degree of foot traffic, but it profits even more when the location sees a lot of stagnant foot traffic. Bus stops, train stations, subway tunnels, and high school lunch courts are all great locations because they often see people standing around for long periods of time with nothing to do. And when those people spot a Vendstar vending machine (known for using only recognizable candy brands) in the corner of the room, what they see is something sweet to stimulate their taste buds while they wait, and 25 or 50 cents is a small price to pay to escape a few minutes of boredom. That is precisely what a home based business owner wants.
3. Machines In Groups Make More Money Than They Do Alone
This may sound counter-intuitive, but for a vending franchise, competition could make the difference between marginal success and outrageous success, because people are more likely to make a purchase when they feel like they have choices. When a soda machine, candy machine, and chip/cracker machine are all placed side by side, consumers feel as though they have the freedom to choose whatever they want to eat. Even if their favorite product isn’t there, the can at least get something they like more than all the other options. This is why the machines of Allstate Investment Group franchisees do so well. Made to sell both drinks and snacks, their machines achieve, by themselves, the diversity and plentiful snacking options that most work from home vending businesses have to depend on each other for.
4. Machines Must Be Kept Full
There’s something about having an abundance of a product that makes the product more attractive. Even if none of the snacks are completely out of stock, it tends to be that a fully stocked machine is more attractive than one with a dwindling amount of merchandise. While this may seem to go against the supply and demand logic taught in nearly every business 101 class, think about when you walk through the grocery store produce section. If there is only 1 or 2 bananas left, odds are they will seem much less appealing than a display full of bananas piled sky high.
5. Americans Love Caffeine
Whether it comes in the form or a cup of coffee, soda, an energy drink, or caffeine pills, the fact is that today, energy-boosting snacks and beverages are a big seller. Most of this, frankly, is due to the lack of balance the average American has in life: working too much, sleeping too little, and entirely forgetting to stop and breathe every now and then. So as they rush from one thing to another, the opportunity to recharge with a quick caffeine boost is very attractive, regardless of the price. This is why American Vending Systems is a very successful franchise opportunity. The only seller of the Buzz Bite, a small chocolate chew with the caffeine content of a full cup of coffee, this work at home franchise understands the population they’re dealing with and how to feed the need for caffeine.
Many people don’t consider vending to be a serious business, but that is only because haven’t done their homework in regard to how it works and how profitable it can be. In some ways, operating a successful vending business is a brain teaser: the franchisee has to know how the human mind works and operate the business to accommodate that, even though he can’t be around at the point of sale. Whether you start a vending franchise or not, think about why you’re doing what you’re doing the next time you approach a vending machine.
The Psychology Of Vending Franchise Businesses - To learn more about this author, visit Candice Clem's Website.
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Psychology and vending machine may not be terms that the average American expects to see together, but in truth, the vending business is surprisingly dependent on what clients think and how their thinking can be swayed but the subtlest changes to the business. Really, all businesses, and especially sales businesses, are built on what the consumer thinks of the product and its display, but the difference between vending and many other sales business opportunities is that most sales businesses rely the personality and social skills of the salesman, which is often a great asset in swaying the opinion of the customer. Vending businesses, however, rely solely on the product, its location and its presentation, because there is no salesman present. For that reason, there are at least 5 tips and tricks that professional vending business owners use to help prompt passing consumers to purchase their goods.
1. Higher Traffic Means More Business
This, of course, makes numerical sense: if there are more people passing, more people will stop to purchase your product. But the importance of this goes far deeper than simply playing the odds. Consumers, as sad as it sounds, are in some ways like lemmings: what one does, others are likely to do as well. What the wise owner of a U-Turn Vending home business expects when he puts his machine in a busy bus depot is that when one person waiting for the bus sees it and drops a quarter for a quick snack, another awaiting bus rider will see and follow suit. And let’s face it, you know the theory works, because nearly everyone has been that second buyer, drawn into the purchase because someone made it look so good. U-Turn Vending may make some of the most interesting and innovative, swiveling candy machines in the industry, but the key to business success for any vending franchise is getting two customers instead of one.
2. Boredom Is A Vending Machine’s Best Friend
Not only does a successful vending machine need to be positioned in a location with a high degree of foot traffic, but it profits even more when the location sees a lot of stagnant foot traffic. Bus stops, train stations, subway tunnels, and high school lunch courts are all great locations because they often see people standing around for long periods of time with nothing to do. And when those people spot a Vendstar vending machine (known for using only recognizable candy brands) in the corner of the room, what they see is something sweet to stimulate their taste buds while they wait, and 25 or 50 cents is a small price to pay to escape a few minutes of boredom. That is precisely what a home based business owner wants.
3. Machines In Groups Make More Money Than They Do Alone
This may sound counter-intuitive, but for a vending franchise, competition could make the difference between marginal success and outrageous success, because people are more likely to make a purchase when they feel like they have choices. When a soda machine, candy machine, and chip/cracker machine are all placed side by side, consumers feel as though they have the freedom to choose whatever they want to eat. Even if their favorite product isn’t there, the can at least get something they like more than all the other options. This is why the machines of Allstate Investment Group franchisees do so well. Made to sell both drinks and snacks, their machines achieve, by themselves, the diversity and plentiful snacking options that most work from home vending businesses have to depend on each other for.
4. Machines Must Be Kept Full
There’s something about having an abundance of a product that makes the product more attractive. Even if none of the snacks are completely out of stock, it tends to be that a fully stocked machine is more attractive than one with a dwindling amount of merchandise. While this may seem to go against the supply and demand logic taught in nearly every business 101 class, think about when you walk through the grocery store produce section. If there is only 1 or 2 bananas left, odds are they will seem much less appealing than a display full of bananas piled sky high.
5. Americans Love Caffeine
Whether it comes in the form or a cup of coffee, soda, an energy drink, or caffeine pills, the fact is that today, energy-boosting snacks and beverages are a big seller. Most of this, frankly, is due to the lack of balance the average American has in life: working too much, sleeping too little, and entirely forgetting to stop and breathe every now and then. So as they rush from one thing to another, the opportunity to recharge with a quick caffeine boost is very attractive, regardless of the price. This is why American Vending Systems is a very successful franchise opportunity. The only seller of the Buzz Bite, a small chocolate chew with the caffeine content of a full cup of coffee, this work at home franchise understands the population they’re dealing with and how to feed the need for caffeine.
Many people don’t consider vending to be a serious business, but that is only because haven’t done their homework in regard to how it works and how profitable it can be. In some ways, operating a successful vending business is a brain teaser: the franchisee has to know how the human mind works and operate the business to accommodate that, even though he can’t be around at the point of sale. Whether you start a vending franchise or not, think about why you’re doing what you’re doing the next time you approach a vending machine.
The Psychology Of Vending Franchise Businesses - To learn more about this author, visit Candice Clem's Website.
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Anne BarrAnne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website |
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John PowerJohn Power, founder of Biltmore Franchise Consulting, has extensive experience developing and marketing franchises and business opportunities. He has been in and around franchising for over twenty years. From 1980 through 1990 he conceptualized, organized, and developed the American Video Association. He grew AVA to 2,000 national members, before selling the company it 1990. It was later merged into another home video marketing company. From 2000 to 2005 he worked as a contract marketing and human resources consultant to several local and national companies. In 2005 Mr. Power began working as a franchise development consultant on a full-time basis. Since that time he has helped more than three dozen companies initiate and develop their franchising program. He notes that there are many companies interested in developing a franchise program, and who need his specialized assistance. Mr. Power is a “hands-on” franchise consultant. He said, “I am the ‘nuts and bolts’ person who tends to the details for my clients.” Mr. Power holds a B.S. degree with a major in Marketing. See: www.biltmorefranchise.com You may contact Mr. Power at: jpower@biltmorefranchise.co - Visit John Power's Website |
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John BrennanJohn Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website |
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George LudwigGeorge Ludwig is a recognized authority on sales strategy and peak performance psychology. An international speaker, trainer, and corporate consultant, he helps clients like Johnson & Johnson, Abbott Laboratories, Northwestern Mutual, CIGNA, and numerous others improve sales force effectiveness and performance. Though it's George's strategies and processes that help corporations increase productivity and performance, it's his tremendous energy and dynamism that spark the transformation. Again and again, clients remark on his amazing ability to unleash human capacity and inspire men and women to break out of their comfort zones. The result is a whole new type of salesperson. His customized presentations teach achievers to make stunning advances in their lives. From helping salespeople realize cherished dreams to helping corporations exponentially accelerate revenue streams, George Ludwig leaves audiences and individuals empowered, emboldened, and clamoring for more. George is the best-selling author of Power Selling: Seven Strategies for Cracking the Sales Code and Wise Moves: 60 Quick Tips to Improve Your Position in Life & Business. - Visit George Ludwig's Website |
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Staging DivaDebra Gould, aka The Staging Diva®, is President of Six Elements Inc., an internationally recognized home staging company. Inspired by many requests from aspiring home stagers wanting to start similar businesses, Gould created the Staging Diva Home Staging Business Training Program. Gould has trained over 1000 Staging Diva Graduates worldwide to start staging businesses. Buying decorating and selling six of her own homes in four years lead to an interest in real estate staging which she turned into a career with the launch of sixelements.com in 2002. Since then she has staged hundreds of homes in addition to teaching home staging training. Gould is the author of several home staging resources including a series of popular ebooks made up of a Design Guide, Color Guide and Portfolio Guide. For more information about Debra Gould visit stagingdiva.com. - Visit Staging Diva's Website |
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Jay Kubassek(Jay's Full Bio: EvanCarmichael.com/jaykubassek) In five years, Canadian-born entrepreneur Jay Kubassek went from selling mufflers at a Midas franchise to revolutionizing Internet marketing with the 2004 launch of CarbonCopyPRO, a online marketing education company, now worth over $20 million with customers in over 160 countries.
As an independent film producer, his upstart film fund Aliquot Films is currently producing a films with Spike Lee and Abel Fererra (starring Ethan Hawke and Dennis Hopper.)
Jay's entrepreneurial spirit is irrepressible. He’s the owner of five companies, a professional speaker and trainer, international real estate developer/investor, extreme sport enthusiast and emerging philanthropist. Jay resides in NYC with his wife Jamie, son Milo and dog Cooper. Visit Jay's official website: www.JayKubassek.com - Visit Jay Kubassek's Website |
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Casey GollanCasey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website |
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Jeff FosterWebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas. We specialize in internet consulting & internet marketing. - Visit Jeff Foster's Website |
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