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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