The economic downturn is beginning to shift from Wall Street to Main Street. While financial experts remain uncertain about how long this economic turmoil will continue, the picture in the short-term is stark: banks have seriously slowed down lending lately and the cash flow that underpins the creation and growth of small businesses has stalled.
Yet despite this uncertainty, every entrepreneur will be familiar with Warren Buffet’s famous maxim on investing: “Be fearful when others are greedy, and be greedy when others are fearful.” Enterprising franchisees will be surveying the suffering business world and envisioning future success when the upturn comes around. The obvious question then is which kind of franchise makes for the perfect opportunity at this financial moment.
Many businesses claim to be recession-resistant, but shrewd franchisees must see the bigger picture when considering their big investment. Franchisees should only really be considering buying into the most proven brands and products---the day of investing heavily in gimmicky items is over, it seems. There must also be inherent value in the product you are buying into. It must not be a niche item, but instead something that will work for you. For these reasons and for many other, the time seems right to focus on Vending Franchises.
Vending opportunities come in an array of shapes and sizes, stocking a number of interesting items. With Franchise Direct alone, there are vending opportunities for the sale of DVDs, coffee, yogurt and ice. The tremendous diversity within vending franchises is only one of their selling points. Just think of the low overhead costs. Rather than have to spend long nights sweating about staff or rents costs, you can sleep easy knowing that a vending machine will simply pay for itself.
Market forecasts show that vending businesses blossomed by over 43 per cent earlier this decade, according to industry publication Vending Times. And the beauty of a vending business is that while people’s tastes and interests change constantly, the medium, i.e. the vending machine, remains constant. The financial world may be in total upheaval, and people may be holding back on that extra restaurant meal on a weekend, or that nagging car problem, but the immediacy of a vending product, be it an a can of Coke or a cup of coffee, makes them invaluable products.
Still, there are essential things to consider when purchasing a vending business. Having the time to stock the product is a must before signing up to owning your own machine. Likewise, the location you choose is essentially linked to the profitability of your venture. That said, if you can find a vending concept that will be a sure-fire success, the time has never been better to own your own vending franchise.