Vending Machine Question|Answer
Frequently Asked Questions
Question :What are coaches?
Andrea R., South Lyon Township, Michigan
Answer : Coaches are a new gimmick that predators, in selling over-priced vending equipment, started using a couple of years ago to vendors who are new to this business.
If you are thinking about buying vending equipment from a seller who tells you they will have a coach help you - hang up. That is my advice.
Chances are very high that their price is 2-4 times over market value.
I have heard many established vendors laugh at the creativity of predatory sellers, in coming up with the idea of a coach.
What is a coach ? A person you can call for advice when starting your business. It sounds helpful - right ?
But in my experience, not one coach has ever owned a vending route or found one location.
Companies that over-price the equipment they are selling have learned that by telling new vendors they will have a coach assigned to guide them, increases their sales. It creates a comfort level.
Before you are sold on buying vending equipment from a company offering you a coach, please consider this these two points:
Companies selling vending machines at vending conventions, or advertising in Vending Times never mention a coach. Ask yourself why? Compare your cost for the identical vending machine from companies that offer coaches, to those that do not.
A final comment - sometimes marketing companies create a vending machine that no one else offers. If you are talking to one of these sellers, hang up. Purchase only machines that the market has proven to be moneymakers. I have seen too many new vendors really over-pay for a new type of vending machine that never produced a good return.
Learn from other vendor’s experience.
Question : How can I check out a vending business company that I might want to buy from?
Donn H., Aurora, Colorado
Answer : There are several good places where you can look into a particular vending company before you make a purchase. Some of my favorite places are:
- The Better Business Bureau. You can find them at www.bbb.org/
- The Federal Trade Commission (FTC) at www.ftc.gov
- The Small Business Administration (SBA) at www.sba.gov
- The National Fraud Information Center at www.fraud.org
Also, you might check with your State’s Department of Licensing and Regulation. In many states there is a monitoring of businesses and professionals doing business in their state in this or a similar department.
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Email Me at:
VEND @VendorLocators.com
