Most Helpful Customer Reviews
|
|
53 of 56 people found the following review helpful:
5.0 out of 5 stars
Basic, Solid, and (Perhaps for Some) Valuable Guidance, August 9, 2003
Vending Business-In-A-BoxMy rating is based entirely on the value of this manual for those such as I who know nothing about vending machines except as a consumer of what they contain. On that basis, it offers an excellent introduction. However, its ultimate value will obviously depend on the nature and extent of what anyone does with the information provided. To those who are actively interested in "starting a profitable vending business," Krug's manual offers a step-by-step process by which to begin. Although I have no such interest even after reading his manual, I commend him on his efforts to determine whether or not "vending is as good as the hype" claims. As with any other enterprise, success or failure in vending probably has much less to do with the nature of the industry than it does with having business acumen, an appropriate strategy, effective marketing, sufficient resources, and (yes) at least some luck. An ancient aphorism suggests that before embarking on a journey through unfamiliar territory, it is highly desirable to learn as much as possible from others who have already completed that journey. Ask questions. For example, what do you know now that you wish you had known when you were completing preparations and then underway? More specifically, what worked and what didn't? Which avoidable mistakes did you make? What were the greatest barriers, obstacles, perils, etc.? How did you overcome them? What were the most valuable lessons learned? Krug frames much of his material in response to questions such as these. Along the way, in Heloise fashion, he includes dozens of helpful tips such how to use a lubricant to deter ants. Does he answer every question anyone could possibly ask about "starting a profitable vending business"? Of course not. This is a manual, a primer, not an encyclopedia. If you are curious about the vending industry, Krug will tell you about all you probably want to know. If you are seriously interested in vending as an investment (perhaps suggested by a family member or friend) or as a business in which you would be involved on a full- or part-time basis, Krug will help you to make an appropriate decision. However, I am reminded of what Derek Bok observed while president of Harvard at a time when many parents were enraged by a tuition increase: "If you think education is expensive, try ignorance." With all due respect to Krug, it would be foolish to rely entirely a single source of information when making a business decision. Also, it is important to recognize the significant differences between possessing sufficient information and knowing how to make the most effective use of it.
|
|
|
31 of 32 people found the following review helpful:
5.0 out of 5 stars
The Secrets to Starting a Profitable Vending Business, August 1, 2004
Vending can be an insanely profitable business, but you need to know what to look for. The challenge is figuring out what you can believe and then turning that information into profit. ~Bryon Krug
Bryon Krug has created a well-organized guide for starting a Vending Business. He discusses the hype and then explains how he embarked on a mission to find out if it was all too good to be true. He not only talked to people who had a profitable business, he talked to people who had lost money. He then set up 22 machines while he was working full-time for a software company. He ended up leaving his full-time job to go into the vending machine business.
This guide is for three types of readers. Sprinters, Sunday joggers and Marathoners. At the start of each chapter, there are key points for those who want to get started fast, then there are quick-start tips. There are notes that can speed you through the book, like: Note to Sunday Joggers: You can skin ahead to Worksheet 1. For the Marathoners, there are tips on how make this guide work for you.
If you are wondering what type of vending machine to invest in, the author explains the pros and cons of each machine. Do you want a soda machine or a snack machine. Which has the least amount of competition and the highest profit margins. The author gives detailed lists of advantages and disadvantages of each machine. He also advises readers to stay away from shrinking markets, like pay phones. I was amazed that you could get some machines for free and that sounds like a quick way to get started with a minimal investment.
Other Tips and Secrets:
15 Ways to protect yourself from vending scams
Warning Sign Checklist
Finding the best storage facility for your needs
How to find a bank that accepts large quantities of unrolled coins
Finding Locations for your Vending Machines
Goldmines: Forty-two great types of businesses to target
How to protect the contents of your bulk candy machines
How to hire a route driver
How to get the money you need for your business
Overall, I thought this was filled with excellent advice and if you are starting a Vending Machine business, this is the guide to read!
~The Rebecca Review
P.S. You may also be interested in eBay Secrets by Steven Ellis White
|
|
|
27 of 28 people found the following review helpful:
5.0 out of 5 stars
New Edition Can Help You Start a Profitable Business, February 5, 2004
I originally reviewed this book's first edition in 2003 and found it had deficiencies that made the book not as helpful as it might have been. Mr. Krug has recently revised that edition and fixed the problems I mentioned in my review that were present before. I congratulate him on his fine new material . . . and elimination of redundancies. The wealthiest people in our neighborhood while I was growing up had a vending route that provided jawbreakers and bubble gum. I always loved to see the bulk candy in their garage and the piles of nickels they collected. Since then, I've always wanted to know more about the business, which led me to this valuable guide. The book assumes that you know no more about vending than how to put your money in a machine and get some product out. That's good for beginners. The book is organized so that you can briefly review it as well as being filled with work sheets you can use to plan and implement a vending business in detail. The book is very practical in that way. Most of the emphasis is on operating items such as picking the right kind of machines, buying or renting the machines inexpensively, obtaining financing, purchasing product cheaply, keeping the machines in working order, getting and keeping great locations, partnering with charities to make the machines more appealing to sites, and maintaining records (including getting the bank to count your coins for you). My favorite tip was using Vaseline around the base of a bulk candy machine to keep ants out. In the new edition, he also adds a fine idea for working with other vending machine operators to find excellent sources of new sites. I was pleased to see that the book included the author's track record in starting and operating his business briefly. He made vending pay quite well. Hopefully, in a future edition, he will check out the track records of others to see how varying practices can lead to improvements. The book was vetted by other experienced vending machine operators, so presumably many weak ideas were edited out in the process. Many will find they can use this book to get a sense of what's involved in vending before starting to see if the business feels comfortable to you. Do you want to get a van so you can deliver soda and snacks and have a rented location for your supplies? Many will find that the investment is larger than they expected. Whatever you do, watch out for those who are selling you something that you cannot verify. The book is good on warning about potential scams. After you finish reading this book, I suggest that you think about what the ideal characteristics are for a small business that you could operate. Then, start looking for that business, whether or not it involves vending!
|
|
|
Most Recent Customer Reviews
|
by Steven Woodbine
by Ronnie Talent
by Michael Leboeuf
by Entrepreneur Press
by Ronnie Talent
