Snack and Go Vending Business Plan
My vending business will be called “Snack and Go Vending”. “Snack and Go Vending” will be in Melbourne, FL. I will be starting off in Melbourne, FL as this is my current residency. I plan to expand my locations by multiplying in Melbourne first and then expanding to different states like Atlanta, GA and Greenville, SC. My goal is to become a country-wide business. But you must start off somewhere right? I would love for my business to become a place where people can ask for help starting their vending machine business or if they need a vending machine shipped to them. This will be the start of my franchise.
Snack and Go Vending will be managed by myself and my husband (Ricky). We both wanted to find a way where we can add more income into our accounts for our future. To benefit our lifestyle, I came up with owning our own vending machine business. We will be able to work on our own time, make our own rules and just do what we want to do. We both currently work at home so this will be a great opportunity for us to careful manage everything. I will oversee inventory and cash flow, while my husband will stock the machines and watch the security cameras for any suspicious activity. On our vending machine, we will install a card reader that will show us everything we need to know like inventory, how much money we have in cash and by card, and it will also give us a feel for which product people mostly prefer and which product people don’t prefer. Our goal is to become a convenience to people in need of a quick snack on the go. Depending on the inventory and how quick customers are purchasing will confirm how many times we would have to stock the machine up. The money we make from the machines will go into a separate savings account that we have set up and will be used to stock up, mechanical issues that we may come across and the rest will be our profit money. By achieving profit, we plan on up charging a few products. We would first walk around and see how our competitors are pricing their food and beverages and we would also see how much the local stores are pricing the products. This will determine if we can upcharge a product or not to make profit.
Snack and Go Vending will be a new vending company owned by me and my husband. We are new to the vending world, so we have been researching ways to be successful in this industry by watching YouTube videos of people showing step by step processes. We have even joined Facebook groups so that we can gather ideas and just get an idea of how other people are becoming successful with this industry. We would like to start our vending business at the recreational center so that we can be a convenience to the players who are playing sports there. We noticed that they have all been traveling to the gas station that is near for food and beverage so we thought it would be a better convenience for them to place our vending machine near. This will allow to not travel as far so that they would not miss their breaks.
The products that I will be using will be snack products like chips, energizing drinks, water, Gatorade, candy, pastries, peanuts, and other simple snacks. My vending machine will hold a variety of 20-24 different snacks along with 8 different drink selections. Since I will be placing my vending machine near a recreational center, I will have 5-10 healthy selections. I have noticed that healthy vending machines are not as successful as unhealthy vending machines so I figured if I could incorporate healthy and unhealthy snacks and beverages, I would be able to satisfy each consumer’s needs.
Since there has been an increase in demand for fast food or fast snacking, I believe that my company will be successful in the future. The location of my vending business will be at a recreational center which will allow kids or adults to have an easier access to food. When kids or even adults are playing sports, they will get hungry or thirsty right after which will draw their attention to my vending machine. I will be a convenience to them which will allow myself to become successful.
I will not be requesting for any financial help. Me and my husband will be paying for our LLC and we will also be paying for the vending machines. A typical vending machine costs around $2,000 – $4,000. To start off we have found a used vending machine that costs $2,500. We will also have to pay for a new card reader which is about $400. We have saved up $3,500 with our savings so we will be able to pay for the machines ourselves instead of requesting a loan or financing. We will also use that money to start stocking the vending machine as soon it arrives in our location. Once we have made enough money from the first machine, we will then begin to purchase more machines without using our personal money.