If you are a current vending machine owner/operator, then you have a good understanding of the quality of different vending machines. You understand that units that malfunction on a regular basis lose revenue and frustrate customers. As customer confidence wanes, so does the continued revenue stream from that location. Machines that have problematic payment collection devices, which take customer change without providing refunds or that distribute the wrong products cause major headaches that plague certain manufactured vending machines.
A best practice for vending machine companies is to set up a seven-year warranty and service plan on these machines. Because seven years is an understood equipment lifecycle for these machines before replacement may be necessary due to feature and capability upgrades, vending companies should make appropriate plans. The warranty also places the burden on the unit manufacturer to upgrade, repair and provide general services on the units. Equipment coverage then reduces the company’s overhead to maintain the machines, and units that expire the seven-year period can be sold, making way for new equipment and features to be introduced to customers.
A replacement lifecycle keeps assets reliable, introducing new features that customers desire like credit card payment options and healthy snacks vending machines. Feature rich machines tantalize customers with new selections that may be available only in supermarkets or restaurants, which results in increased revenue and customer acceptance. An upgrade in payment options provides convenience for customers, which also encourages increased sales.
New features also impact vending machine routes since customer segments that may be deemed unreachable can now be targeted such as through healthy snack offerings in schools where traditional vending machines may have been banned or at other venues where health conscious consumers require particular products.
Good equipment lifecycle management can therefore reduce overhead costs and inject new features into current vending machine offerings that will attract new customers and provide current customers with enhanced capabilities.
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