Introduction
Navigating the world of property management can feel like a high-stakes game of chess. Every move counts, and the competition is always looking for ways to checkmate you. But what if I told you there's a secret weapon that's gaining popularity among apartment buildings?
It's not the latest in smart home technology or a fancy rooftop garden - it's vending machines. Yes, you heard that right. Vending machines are no longer just for office buildings or laundromats. They're making their way into apartment complexes, and the benefits are more than just a convenient snack.
Let's dive in and explore why vending machine companies are becoming a game-changer in the property management industry.
The Growing Trend
According to a report by Vending Market Watch, the vending machine industry is expected to grow to $5.4 billion by 2023, that's a lot of snacks! But it's not just about the snacks. It's about the convenience and added value - a clear indication of the increasing demand for this convenient service from business owners across many different industries.
Benefits of Vending Machines in Apartment Buildings
Imagine this: It's late at night, your favorite show is about to start, and you're craving a snack. But who wants to make a trip to the store or an expensive DoorDash order? With a vending machine in your building, you don't have to. A survey by the National Multifamily Housing Council found that amenities significantly impact resident satisfaction, and vending machines were among the top-rated features. Another study published in Procedia CIRP found that the convenience of vending machines significantly contributes to customer satisfaction. And a satisfied resident is a retained resident.
Choosing the Right Vending Machine Company
So, you're sold on the idea of vending machines. But how do you choose the right vending machine company? Look for the following…
Excellent Customer Service: The most significant differentiator in the vending machine industry is customer service. Choose a company that is responsive, helpful, and committed to ensuring your vending machines are always running smoothly.
Full-Service Solutions: The whole point is to find hassle free ways to boost amenities. Look for companies that offer comprehensive services, including installation, maintenance, and restocking. This will remove you entirely from the equation saving you time and effort in managing the machines.
Customizable Options: The best vending machine companies will offer customizable options to fit your specific needs. This includes the type of machines, the products they stock, and even the design to match your building's aesthetic. That said, most vending companies will have a set product list that they would like to include around your tailored options.
Service Level Agreements: Make sure that the vendor you choose puts an SLA in place for repairing broken machines or refilling product. This sets everyone up for success and establishes expectations prior to any incidents. Additionally, this protects you as a business in your vending machine company does not adhere to agreed upon SLAs.
Proceed with caution: When it comes to large vending machine companies it is easy to fall into the trap of false comfort. Larger corporations often don’t have the ability to offer top notch service across all of their accounts. On the other hand it can be a leap of faith to trust a small business with your business. This goes back to the first point, customer service is the biggest differentiator!
Conclusion
Sometimes you don’t need to reinvent the wheel to accomplish your goals. The age-old solution that is vending machines are more than just a convenient amenity; they're a strategic move that can add significant value to your property. By partnering with the right vending machine company, you can unlock these benefits and stay one step ahead in the competition. So, are you ready to make your move?
Sources:
Griffiths, M. L., Powell, E., Usher, L., Boivin, J., & Bott, L. (2020, September 21). The health benefits and cost-effectiveness of complete healthy vending. PubMed Central (PMC). https://doi.org/10.1371/journal.pone.0239483
Vending Machines: A Narrative Review of Factors Influencing Items Purchased. (2016, August 18). Vending Machines: A Narrative Review of Factors Influencing Items Purchased - ScienceDirect. https://doi.org/10.1016/j.jand.2016.06.378
New Largest-Ever Apartment Rental Survey Highlights Amenities Consumers Want. (2015, November 19). NMHC | New Largest-Ever Apartment Rental Survey Highlights Amenities Consumers Want. https://www.nmhc.org/news/press-release/new-largest-ever-apartment-rental-survey-highlights-amenities-consumers-want/
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