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Keeping good records of the status of each of your vending machines when you service them is both a critical and very easy practice. Even for those who strongly dislike record keeping and struggle with the practice, the process is not overly taxing. The benefits, after all, far outweigh the small inconvenience that it presents. After all, by keeping records, you will be able to see how you are doing over time so you will know exactly which machines are offering the best performance, how many of what product is being sold, and what profits you can anticipate in the weeks and months to come. As a business owner, this is information that you need. With even the most basic record keeping, you will have a much more thorough understanding of your business and how it is doing from one machine to the next. This allows you to continue what you are doing right with some machines, and consider the relocation of other machines that just aren’t performing as they should be. That being said, yo...

The preparation of your vending machine business plan will be the most important thing that you do prior to launching your new venture. A business plan will be a crucial resource that will help guide your business in the right direction. A business plan sets out what has to happen in order for you to reach your goals, outlines how you will do it and sets out alternative plans in case things change further down the line. It forces you to do the research that is necessary in order to find out if there really is a market for the vending machines and locations that you have in mind. It may be necessary to have a plan written in a formal, professional style if your aim is to use it to convince bankers or investors to support your idea. However, even if you don’t have anything to prove to anyone, your business plan will help to confirm the viability of your ideas in your own mind. Keep a copy of your plan on your PC as well as in a file or binder in case of emergency. Don’t forget...