Over the years, we’ve witnessed how the COVID-19 pandemic changed our life and forced us to adapt to the new norms.
During the restriction of the Movement Control Order (MCO), Yong Yik Fong (Yong), an engineer, was instructed to have lunch in their pantry. Since then, the idea of vending business sparked.
The authorized party encouraged the team to have a contactless transaction for food and drinks. Unfortunately, the existing vending machines were not ready for the cashless system.
With the suggestion from his colleagues and the effort together with his sister, Yong found Vechnology. Despite the available options, Yong chose Vechnology because of the latest vending technology provided.
Yong’s aim in starting a vending machine business is to provide convenience to the community.
“But there must be a lot of investment costs such as human capital cost and operation cost as I wish to bring convenience to each community by expanding the automated business,” said Yong.
The truth surprised him — Vending machines can be operated by themselves 24/7.
“Besides, VECloud is really powerful,” Yong added.
It does bring convenience to him which he can make a lot of changes with just a smartphone or laptop as compared to the conventional vending machine.
E-wallet Is The Future—Beyond The Cash
Yong described the e-wallet vending machine as a tool that can make payments with just a smartphone. E-wallet plays a vital role, especially during the pandemic.
To give more fruitful insight, the physical distancing policy that is encouraged by the World Health Organization (WHO) has inspired consumers to do contactless activities, including payment transactions.
How To Benefit From E-Wallet in Vending Machines
Yong sees e-wallet payments as an opportunity. Throughout his vending operation, he realized that an e-wallet could help him in terms of his pricing strategy.
For example, instead of setting the price of RM3.50 for a drink, he can set the price at RM3.45 without worrying that if that’s no change can be returned by the conventional cash and coin vending machine.
Tips From The Experienced Vending Machine Owner
1. Location Is The Key
According to Mr. Yong, the key factors to consider are
- Product Variety
- Consumer Demands
- Machine Locations
Among 3 of those factors, the most important one is the vending locations.
He suggests that schools, factories, offices, public areas, or even residence places are the best spots. And he added with a point that it is easier for vending machine owners to look for a location that is nearby the neighborhood where the owner can manage the machine without traveling an extra mile.
2. The Best Way To Secure A Location—Pitch Your Services
“Whenever dealing with a landlord, we should always propose to them the values that the vending machine can bring to benefit the community. “ Yong said.
Yong gives examples based on his dealing experience. First thing first, he makes detailed research by visiting the place physically and observing the surroundings.
Next, he will communicate with the management/landlord that what needs are best for the community and how he could bring them to the table. This action could actually bring the confidence of management towards you as you are pitching them with what they need.
“Of course, Vechnology does have a team of personnel who will help out and advise on the location procedures as well,” said Mr. Yong.
3. The Suitable Product To Sell In Vending Machines Based On Certain Targeted Location
“I would say this differs with the location where the machine is placed. It takes time to study what the community needs, perhaps you may collect some feedback from them as well.” Yong said.
Let’s take some examples.
- School, colleagues, universities
The products that Yong suggested are dairy products such as fresh milk, biscuits, small cakes, bread, and some other healthy food.
The suggested products are snacks, frozen food, soft drinks, etc.
- Residential Area, Condominium
You may consider putting in some essential items such as toothbrush and face mask.
Vending Machine – An Industry That Was Benefited From the Pandemic
From the starting of MCO until today, Yong has operated two machines. He testified to the people that the e-wallet vending machine business is lucrative.
This can be proved with the sales that he has been generated over the past MCO.
“My vending machine sales increased 69% during MCO compared to the normal days!”
As people are taking care of their hygiene and surrounding, the vending machine is one of the amenities that are indispensable, especially during the pandemic.
Make The Best Of Vending Machine Business During Pandemic With Vechnology
Click Here to learn more about how Vechnology can help you kick-start and grow your vending machine business.