Vending Developers

FAQs

FREQUENTLY ASKED QUESTIONS

Where is Vending Developers located?
We are located at 2049 E Cherry St 200 Springfield MO 65802


Do I receive a contract with my individual locations?

Yes. Most locations will come with a 1 year self-renewing agreement. There will be a few that do not. Most vending companies do not have a time length agreement with their locations. If you keep your machines full you will have your accounts for years to come and if you don't a contract will not do you any good.

 

How do I receive my products?

As we are setting your account up, the bottler will drive by your location to see if the delivery trucks can get in and out without problems. If the trucks can not deliver to your home, you will need to rent a small storage building for your deliveries. A key can be given to the driver and he can actually load directly into your unit without you having to be there.

What do I do if a repair is needed?

An 800 # will be provided to you for repairs. Simply call this number and give the location of the machine in need of repair along with what the problem is. Usually within 24 hours a technician will arrive and perform the repair. There is no cost to you for this service.

Can I sell my route if I want to?

You can and it is standard to receive one years gross for the selling price meaning you could actually buy your route and turn around and sell it after it is installed for usually twice or more of what you paid for it.

How can I expand my route?

You will actually have access to additional equipment n/c after your account has been established. We used this same formula to build a route of 75 machines that grossed $250k per year....until we sold it for $250k.

Will I have to pay commissions to the locations?

Some locations will request a commission. This does not change your profit % because the vend price is increased to compensate for the commission. You can keep track of the amount you owe the location by simply accessing the STD (sales to date) section in the programming.

Do I need a special vehicle to service my route?

No. A truck, SUV or mini-van is ideal but your route can be serviced from any vehicle you currently own. I like to see new operators keep their expenses down in the initial start up and add as needed.

How long will it take to build my route?

It will usually take 5-7 weeks from the time the down payment is received.

Are there good locations in my area?

Yes. We have certain categories we target that perform well and these are locations you can find in any area.

Have you built routes across the United States?

Yes. We have established routes in several different states. The program is consistent and works anywhere.

Do you offer snack machines?

As we secure locations for your soft drink route we will occasionally run across a location that requests a snack machine. If we determine the location to be of the caliber required to qualify for a snack machine we will notify you and give you the option of purchasing a snack machine for that location. Snack vending is okay but will usually only generate about half of what the soft drinks produce. Products can be purchased at your local Sam's.

What if I receive a location that is bad?

If you install a location that is a "dud" let us know and that location will be replaced. We will occasionally need to replace an under performing location but it is not very often. Our screening process of the combination of employees, foot traffic, machine visibility, hours of operation, clientele, etc. usually eliminates the bad locations.

Where are you located?

We have several different branches but our main office is located in Springfield, MO.

Do you have other suggestions on how to get financed?


-
Family members and friends who might be willing to either partner with you or provide you with an interest friendly loan. It might surprise you who might be right under your nose willing to help you.

-Credit cards are not my favorite way to get in the business but it does provide an option where others may not be available. You might choose to use credit cards for a short period of time only to get your business up and running then pay them off. Look for a low interest, fixed rate card that will provide you with a lower monthly payment. You may need to use multiple cards to secure the size of business you want to start with.

-Banks/credit unions and loan companies are an option although these types of institutions are not real keen on the vending business mainly because a vending machine has no title, therefore there is nothing firm or on paper they can use for collateral. Your chances are probably better to approach the lender for funds to go on vacation or for home improvements. A good working relationship with your banker is an excellent first step towards securing your money. Don’t ask just one lender but 10 or more to increase your chances in securing your funds.


-Home refinancing or collateral in items you currently own is another option to secure funds for your vending route. I have seen several situations where a person refinances their home, secures the funds they need for their new vending business and actually see monthly payments drop because of a better interest rate. You never know until you try it.


Also check out the book GUERRILLA FINANCING written by Bruce Blechman and Jay Conrad Levinson. It will take you one step at a time through the process and help you to secure the funds you need for any type of business in any area no matter the situation.

How Do I Get a Loan with Bad Credit?


If you’ve been turned down for a loan or don’t want to get stuck paying high, subprime interest rates, here are 5 alternatives to consider:

Option #1: Use a Home Equity Line of Credit

The housing bubble left many homeowners owing more than their home is worth. But if you have equity in your property, you could get a low-interest, tax-deductible line of credit to spend any way you like.Of course tapping your home equity puts your property in jeopardy if you can’t repay the debt. But if you have reliable income and are disciplined about paying down an equity line, it’s an inexpensive option, regardless of your credit score.


Option #2: Apply to Credit Unions


Credit unions are similar to banks but are owned by their members, who typically have something in common—like working in the same industry or living in the same geographic area. Credit unions are nonprofit organizations that pass along earnings to members in the form of lower fees and higher customer service. Visit
findacreditunion.com to locate a credit union near you and give them a call to discuss getting a personal loan. Compare loans from several institutions so you know you’re getting the lowest interest rate possible before you sign the final paperwork.


Option #3: Get a Peer to Peer Loan


P2P lending is a win-win for borrowers who pay low interest rates and investors who earn high interest rates. Peer to peer or P2P lending has been around since 2005. It’s an online platform that allows you to borrow directly from an individual instead of from an institution. Peer to peer lending is growing in popularity because it’s a streamlined process that’s a win-win for borrowers who pay low interest rates and investors who earn high interest rates. Borrowers post a loan listing that includes the amount they want and why they want it. Investors review loan listings and choose the ones that meet their criteria. Peer to peer lenders screen all applicants and check your credit, which becomes part of your loan listing. So while your credit score is still a factor, an individual investor may be more empathetic to your situation than a traditional bank. Check out these peer to peer lending sites for borrowing or investing:
Prosper, Lending Club, Peerform, GreenNote, or People Capital


Option #4: Take a Loan from Family or Friends


If an online peer won’t lend to you, perhaps you have family or friends who will. Treat a loan from someone you know just like a serious business transaction that’s clearly documented and legally recorded. To avoid complications later on, create a written agreement that includes the interest rate, payment terms, any collateral you put up for the loan, and what happens if you fail to repay the debt. You can get promissory notes from sites like Rocket Lawyer or LegalZoom. If you’re borrowing money to buy a home, the loan must be properly secured in order to take advantage of the mortgage interest deduction. To properly register and manage a home loan with a relative, use a service like nationalfamilymortgage.com. The bottom line is that a family loan must benefit everyone involved and should really be a last resort. You don’t want to risk letting a close relationship go sour over a bad debt or a misunderstanding about money.


Option #5: Appeal to a Co-Signer


If you don’t have a friend or family member who’s willing to give you loan, perhaps one with good credit would be willing to co-sign a loan with you. Someone who knows your situation and trusts your ability to repay the debt would probably be willing to take a chance on you. Just remember that if you don’t repay the debt, the creditor will look to your co-signer for full payment. Additionally, all the payment history will be recorded on both of your credit reports, which could be devastating for your co-signer if you don’t hold up your end of the bargain and make late payments or default.

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