| The preparation of a vending machine business plan is | | | | business. For those who will be active in the |
| one of the most important first steps for your new | | | | management of the business it is important to outline |
| venture. A business plan will be crucial in guiding your | | | | what role they will play and their responsibilities. |
| business in a successful direction. A business plan sets | | | | Will the business be registered as a sole proprietorship, |
| out what has to happen in order for you to reach your | | | | a partnership or a corporation? |
| goals, outlines how you will do it and sets out | | | | Business Operations |
| alternative plans in the case that things change further | | | | This section of a business plan should outline the details |
| down the line. | | | | of how you plan on running your vending business. |
| It may be necessary to have a plan written in a formal, | | | | Include information on where your business will be |
| professional style if your aim is to use it to convince | | | | based, administration, any plans that you have to hire |
| bankers or investors to support your idea and you | | | | employees and how your business will run on a day to |
| may need to seek help with this. But even if you don't | | | | day basis. |
| have anything to prove to anyone your vending | | | | Include details on your vending machines, maintenance, |
| business plan will help to confirm the viability of your | | | | products, distributors, route planning and how you will |
| idea in your own mind. | | | | record and manage sales data. |
| Keep a copy of your plan on your PC as well as in | | | | Try to come up with solid reasons why are choosing a |
| files or in a binder in case of emergency. Don't forget | | | | certain vending machine, product line or system. |
| about your business plan once you have opened your | | | | Wherever possible include some supporting evidence |
| doors for business. Refer to it regularly to make sure | | | | from research that you have done. |
| that you are on track to meet targets and don't be | | | | Market Analysis |
| afraid to make changes to where necessary. | | | | Using data from your market research you can report |
| Every entrepreneur or business consultant will have | | | | on the current state of your target market and identify |
| different ideas about how a business plan should be | | | | opportunities. Here you can include demographic data |
| structured. Below we offer a sample vending machine | | | | as well as information that you have gathered from |
| business plan which is a basic outline with sections that | | | | surveys and other investigations. |
| you may consider including. | | | | Marketing Plan |
| Cover and Contents Page | | | | Outline a strategy for creating a brand that will meet |
| Start of with a cover page with a heading to let | | | | market needs. Based on the market opportunities that |
| people know what the report is about, who the author | | | | you see, set out a strategy for meeting these needs in |
| is and when it was written. This should be followed | | | | terms of locations, vending machines, the product lines |
| immediately by a table of contents so that readers | | | | that you will stock and your pricing. |
| can easily find their way around the report. | | | | Provide details on how you plan on getting new |
| Executive Summary | | | | locations, arranging appointments with 'decision makers' |
| Summarize the other sections of your business plan. | | | | and selling your services to them. Your marketing could |
| Present some detailed information on the opportunities | | | | mostly be done by approaching decision makers |
| that you see in the market and summarize what it is | | | | directly or you could rely on advertising to generate |
| that you intend to do with your business to capitalize | | | | some enquiries. |
| on these opportunities. Try to entice readers into | | | | Also outline your plan for marketing directly to your |
| reading the whole report. | | | | customers or end users. These could include |
| Background | | | | promotions on the machine front or how you or your |
| Offer the reader some background information on | | | | staff will build relationships with customers when you |
| yourself and your reasons for starting a vending | | | | visit the premises. |
| business. Provide details of any relevant experience or | | | | You should also mention how you plan on maintaining |
| competitive advantages that you have. | | | | vending accounts and customer satisfaction in the long |
| You can also include a vending industry background | | | | term. |
| showing national industry data as well as information | | | | Competitive Analysis |
| about the local industry that you plan on entering. | | | | Provide information on the competition in your target |
| Mission Statement | | | | area and examine their strengths and weaknesses. |
| A mission statement is usually a phrase or a couple of | | | | Look at ways of delivering products and service that |
| short sentences that summarises what your business | | | | are distinctly different from what competitors are |
| is all about, what it does and how well it does it. It is a | | | | offering. Get ideas from them about what is working |
| good way to remember the basic goals or philosophy | | | | well and what isn't. Look for a competitive edge. |
| of your company. A good mission statement could | | | | Don't forget to also mention indirect competitors such |
| mention something about the standard of your | | | | as convenience stores, in house cafeterias or food |
| products and service or how you strive to be better | | | | vans. |
| than your competitors. | | | | Financial Planning |
| Goals and Objectives | | | | Use a spreadsheet program to set out forecasts of |
| State the goals that you wish to achieve in the short | | | | cash flows in and out of your vending business over a |
| and medium terms. Goals could include placing a | | | | hypothetical two year time period. If you have done |
| certain number a vending machines or reaching a | | | | your research you should be able to anticipate monthly |
| certain income level per machine. | | | | income and expenses going forward. You will thus be |
| Startup Requirements | | | | able to determine future levels of profitability and a |
| Set out a list of vending machine business startup | | | | break even point. |
| costs and calculate the total amount of capital that will | | | | Run a variety of different scenarios that consider a |
| be needed for the company to get started. Report on | | | | conservative growth rate, an expected growth rate |
| some of the funding options that are available to the | | | | and an optimistic growth rate. Things don't always |
| owners. | | | | happen like you expect so it is important that you plan |
| In this section of the report you can also mention some | | | | for a variety of scenarios. |
| of the other things that must happen in order for the | | | | Appendix |
| business to commence trading legally and | | | | Lastly, you should attach an appendix to the report |
| professionally. Mention the processes and the fees | | | | that includes any reference letters, documents, charts, |
| involved with applying for licenses, permits and other | | | | diagrams or supporting material that have been |
| paperwork under the laws of the region where the | | | | referred to in the contents of your business plan. |
| business will be operating. | | | | There are many sample vending machine business |
| Ownership and Management Structure | | | | plans and templates available online for free if you look |
| Note who the founders of the company are and note | | | | around. |
| the particular ownership interest that each has in the | | | | |