Business Planning for your Vending Business

Antares operators are facing the most challenging business environment ever. This is the reason that they need a plan that gives them direction. The plan will state how resources will be allocated over a given period of time. Most operators are too busy to plan more then a day ahead. Success in any industry requires planning, long term and short term.

A challenging environment

The past years had come with some unforeseen challenges for automatic merchandising. An economic recession hit at a time when technology was offering a host of new possibilities. Operating costs have risen while opportunities to increase sales have eluded most operators.

The current economic situation gives all size companies sufficient cause to take the time to establish a business plan. This would be the best time to do it. The business plan is a company’s road map to the future. It would organize “hard data” in a way that would give your Antares operation direction. The more “hard data” your business has, the better you can set goals for your business, as well as monitor its performance.

What it does for you

A business plan would show management how it should deploy its resources over a specific time period in an effort to maximize returns. It would cover the use of all company resources, including human resources. Most vending operators operate under a nebulous plan. A business plan for your Antares business should consist of both quantitative goals (increase sales by 5 percent) and qualitative goals (improve employee morale).

Planning needed now more than ever

The current state of the vending industry makes planning more imperative than ever. The current business climate requires more direction than in the past. Customer needs are less uniform than ever. An Antares operator serving a large metropolitan area needs to understand the demographics of his customer base. This would of course require you to gather information. The equipment that is being used is offering more possibilities than ever before, because of new technology. The new technologies offer enhanced customer service, but require additional investment.

A business plan should be seen as an enhancement of the company budget. Where the budget comprises the “bones” of the plan, the planning addresses the “vision,” and describes how the company’s goals will be met.