Hey there, Vendpreneur!

Welcome to Becoming a Vendpreneur—where every week I help you navigate the challenges of running a vending machine business, whether you’re just starting out or looking to expand your operation.

On Wednesday, I got a DM from a loyal Twitter follower and he asked me how I sell to locations.

So, this week, we’re going deep with our 3-step guide to successfully pitching vending machine locations. This includes:

• Winning cold call strategies

• Flyer designs that make an impact

• Crafting contracts that protect your interests

But before we jump into more details, I want to share a few quick updates on my vending business, Pod Plug:

Business Wins

• 🤝 Interviewed a seasoned Operations Manager with over 10+ years in recruiting and ops. This pro's got a knack for building systems and processes - exactly what we need as we gear up for franchising. Bonus: his recruiting chops will be clutch for our expanding team.

• 🚀 vendinglaunchpad.com is officially ours. This digital real estate will house our new coaching accelerator, a joint venture with my partner Jaime. Serious about vending and want in on a tight-knit community with direct access to us? Apply here.

• 📄 Our coaching accelerator is now officially an LLC. Small step for paperwork, giant leap for our vision.

• 📊 Knocked out the preliminary content for our franchisee e-brochure. Take a peek and let me know your thoughts here.

• 🎰 Successfully installed a smart machine at Maya Tequila Ranch, a nightclub in Fort Worth, TX. During college season, we're estimating $4,000/month in revenue. Not too shabby.

• 🏭 Just inked a lease on our first Dallas warehouse near DFW airport. At $3/sqft, it's not cheap, but hear me out - it's loaded. We're talking A/C, Wi-Fi, power, dollies, forklift, lounge, kitchen, shipping & receiving, conference rooms, heavy-duty shelving, 24/7 secure access, and industrial loading docks. It's not just a warehouse; it’ll be our franchisee training center.

P.S. Are you looking to become a franchisee? Hit the button below to get on our franchisee waiting list!

Now, let’s dive into this week’s newsletter!

Ever wondered what the biggest challenge is in running a vending machine business?

That's right, it’s pitching locations for your machines.

But don’t worry, because I'm about to break down the ultimate way to secure your first location, the exact way I placed 100+ machines!

Think of it as a careful selection process—you need to know exactly what to look for.

Because you're not just selling; you're strategically qualifying potential locations. Ready to learn how?

Here’s how you can turn those hesitant ‘maybes’ into enthusiastic ‘yeses’:

1. Mastering Cold Calls 

Cold calling is usually your first step into the world of potential vending locations, and it's crucial to nail that first impression.

Before you even think about picking up the phone, you need to arm yourself with The List. What’s The List?

It’s your meticulously curated database of potential high foot-traffic locations near you, complete with all the contact details you need.

If you’re not sure how to build your own The List, I've detailed the process in a previous newsletter. Check it out to get started:

Once you’ve got The List in hand, it’s time to reach out.

Whether it’s through a cold call, an email, or an in-person visit, make sure you're ready to engage.

When you're on the call, strike the perfect balance with enthusiasm and real interest.

Use my trusted script that follows a proven pattern to make sure you’re not just heard, but remembered:

Step 1: Opening Introduction

Begin by warmly greeting the prospect and quickly mention something specific about their business to establish a connection.

Keep your enthusiasm upbeat but professional.

Example:

"Hi, is [Decision Maker's Name] here?  The reason I'm calling today is because I have a family-owned company that provides top-notch vending solutions, and I think [Company Name] would be a perfect fit for our services. (Reasonable Man tone) If you have sixty seconds, I’d like to share an opportunity with you. You got a minute?"

[Decision Maker's Name], just a couple of questions, so I don't waste your time."

Step 2: Engage with Specific Questions

Express genuine interest in their current setup and show how your services can meet their needs more effectively.

Ask questions like:

• "Can you tell me about the number of people at your location each day?"

• "Have there been any requests for more variety in snacks or beverages?"

• "What amenities do you currently offer, and are there aspects you’d like to improve?"

Step 3: Building Interest

Describe the value in a logical sequence:

1. Start by hyping up your product.

2. Then, bring yourself into the story.

3. Wrap it up by highlighting what makes your company the go-to.

Step 4: Handling Responses

Adapt your conversation based on the prospect's feedback, aiming to either secure a commitment or continue the dialogue to address any concerns.

If Positive: "That’s fantastic to hear! Let’s discuss customizing our product selection to your needs and schedule a delivery date for the machine. How does that sound?"

If Negative or Neutral: "I understand your concern. Mind if I share how we’ve addressed similar concerns for other locations? We also offer a 30-day trial period with no strings attached. If you don’t like it, we’ll pull it.”

Step 5: Closing the Call

Encourage taking the next step by suggesting a follow-up meeting or sending additional information.

"Would it be helpful if I sent over some more details and testimonials from our current partners? I believe they can provide great insights into the benefits of our services."

And if you want my entire cold call script for free, here it is:

2. Designing Impactful One-Page Flyers 

Flyers are a vital tool to leave a lasting impression after a successful cold call.

Creating an effective flyer requires more than just basic information; it demands a strategic approach.

What are the features of a badass sales flyer?

Initially, my flyers were garbage (and they looked like garbage, too).

However, after reading the book "Traction" by Gino Wickman, I uncovered a formula for success that includes these three crucial elements:

• Your Three Uniques: Clearly define what sets your service apart from the competition.

• Your Proven Process: Illustrate a step-by-step process that shows your method for delivering results.

• Your Guarantee: Offer a compelling promise to reassure potential clients of the value you provide.

Flyer Design Tips: Capturing Attention

To ensure your flyer stands out and effectively communicates your message, consider the following design tips:

Visual Hierarchy

Structure your content to guide the reader through the flyer intuitively. Utilize headings, bullet points, and images to organize information and emphasize key points.

Branding Consistency

Maintain a consistent use of your brand’s colors, fonts, and style to reinforce brand recognition and trust.

Call-to-Action (CTA)

Include a clear and compelling call-to-action. Whether it’s to schedule a meeting, visit a website, or make a call, make the next steps obvious and easy for the reader.

For inspiration, take a look at my own flyer:

3. Crafting Solid Contracts 

Once a potential location shows interest, it's essential to negotiate the terms of the agreement effectively.

A well-crafted contract is key to a successful partnership.

Key Elements of a Vending Contract:

1. Definitions and Roles

Clearly specify what is being provided, including the the service you’re providing to the host location on a daily/weekly basis.

2. Contract Duration and Renewal Terms

Outline the length of the agreement and the conditions for renewal and termination. My suggestion: 5 years (2 years min).

3. Exclusivity and Financial Terms

Ensure exclusivity to eliminate competition on the premises and detail the financial arrangements, including payment schedules and any revenue share (if needed).

• Negotiating the Agreement: Understand which terms are flexible and which are non-negotiable to guide the negotiation process.

• Flexible Negotiation Points: Be prepared to negotiate on commission, product selection, or restocking frequency.

• Strategies for Beneficial Negotiations: Emphasize the advantages of the vending machines for the location's clientele. Really value sell this. Show them the benefits of the free machine and that you will provide excellence on all fronts. And lastly, if any issues arise, you’re the dedicated point of contact and you’ll be there within 24 hours.

4. Finalizing the Agreement

Once terms are agreed upon, proceed to finalize the contract efficiently. Use electronic signature tools like DocuSign to expedite the process, ensuring clear understanding of responsibilities and benefits for both parties.

Following these structured steps will help you effectively secure vending machine locations and establish profitable partnerships.

Here’s the exact agreement I use for all my locations. Get it below for free!

And That’s a Wrap!

Securing locations for your vending machines involves mastering cold calls, creating compelling marketing materials, and drafting solid contracts.

Follow this three-step guide to present your vending solutions confidently and effectively, ensuring a successful pitch every time.

Thanks for reading this week’s newsletter.

Hit reply and let me know what you found most helpful this week—I read every single reply and I’d love to hear from you!

See you next Saturday!

-Ethan