Tag: Revenue Growth

6 Reasons for your small business to invest in vending machines

6 Reasons for your small business to invest in vending machines

Small businesses

A key reason for the USA’s success as a major economic superpower is the contribution from small businesses. Together, they account for more than 54% of the GDP and 55% of all employment opportunities. Despite government assistance, like grants and aid, small businesses often struggle to generate enough profits to fund growth or deliver a satisfying reward for the business owner. This is because of the scale of its operations. Almost any small business owner would be more than happy to find ways to improve revenues from their existing store, factory, or office without significant expenditure. The good news is that this is possible with the help of automated vending machines.

Additional revenue

Be it a gym, a convenience store, or even the local dentist’s office, a vending machine can be a valuable addition to your business. An easily accessible stock of snacks and chips for the waiting patrons or accompanying visitors is a quick way to increase your businesses’ revenue. Snacks are the most ideal commodity for impulse purchases, and their mere presence can entice an interested customer to buy, but it does not just have to be snacks. The machine can provide necessary supplies relevant to your business. For example, a dentist’s office probably will not want a vending machine that sells sugary snacks and drinks. Instead, they may place a vending machine that sells oral health products such as mouthwash, floss, and toothpaste. The possibilities are truly endless.

Customer Convenience

Vending machines are not just all about making more money. They are also about giving your customers the extra convenience of not having to run from pillar to post for their trivial needs or hunger-related urges. A customer waiting at a nail salon might leave when she is thirsty and may not return. A gym member may have to miss leg day because she forgot her bottle of water. The presence of vending machines satisfies those urgent small needs that can make or break your individual customer experience, and a small business is nothing if it does not deliver a good experience for its customers. Vending machines can help you do just that through improved convenience.

Customer Stickiness

Convenience aside, vending machines are fun to interact with. They also help your customers avoid trips to different establishments for their more minor needs. More importantly, despite their prevalence, they are still a novelty for kids and adults alike. We all like to see the magic of machines eating up money to throw out snacks and beverages. Together, these factors contribute to a better experience for your patrons or accompanying visitors at your establishment. It is a no-brainer that a better experience brings repeat business and eventually loyalty from your customer base.

Some machines also come with cutting-edge technology that enhances the user experience. An interactive touchscreen makes it easier and enjoyable for consumers to use the machine. Some machines also boast of technology that ensures that no consumer walks away frustrated about a failed transaction. iVend Guaranteed Delivery from eVending is a good example. It guarantees that every product will vend, or the customer receives their money back. It is undeniable that the quality of the service or product will be the best value for the customers of small businesses, but vending machines can augment that value to enhance the overall experience of conducting business with you.

Average Revenue Per Customer

If you are a financially savvy small business owner, one of the yardsticks that you will constantly use to measure success is the “Average Revenue Per Customer”. This is simply the amount a typical customer spends at your business. If you have ever paid a visit to your local bank or a private investor to fund the growth of your business, you have most likely heard this term. Vending machines are an easy way to improve this number. A gym member who is already getting the top membership plan has a minimal scope to spend more at the gym. A vending machine, however, can help improve the sale of health supplements or even essentials like water or towels. Nail salons can monetize their customers’ waiting time. Instead of flipping through the pages of a magazine from 10 years ago, they can sip a can of beverage while they wait. All of this can increase the transactions at your establishment.

Branding & Customer Experience

Vending machines can be an opportunity for you to reinforce your brand. Wrapping the machines in graphics that reflect the branding of your business can generate good top-of-mind recall for your customers. It gives you an unbeatable “cool” factor that may not necessarily translate to dollars in the short term, but can pay off big in the long term. At the end of the day, customers like to do business with successful establishments. Branded vending machines can help you present your success with style.

Summary

Vending machines may not be a part of your core business, but they can help you enjoy benefits like improved revenue, enhanced customer experience, loyal customers, better profitability, and a strong brand. Your only hurdle to enjoying these benefits may be the capital required to buy the vending machine. Reputed vending machine manufacturers like eVending have easy finance options and attractive offers. They can help you buy your vending machines quickly.

If you need a place to start, let us help you. You can call us at 1-866-958-4501 or visit our website www.evending.com to learn more.

Reasons for your small business to invest in vending machines

6 Reasons for your small business to invest in vending machines Small businesses A key reason for the USA’s success as a major economic superpower is the contribution from small businesses. Together, they account for more than 54% of the GDP and 55% of all employment opportunities. Despite government assistance, like grants and aid, small

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