Business strategies for success in a recession

The recession that hit in the fall of 2008 has challenged the vending industry to be more creative at maximizing revenues, reducing costs and protecting profits. It’s a balancing act that’s hard to achieve, but determined operators believe they will succeed. Three experienced vending operators in different geographic markets share their ideas about how to succeed during a recession. Operators must review their route schedules and scrutinize the return on investment for their accounts more frequently. They must also be open to new revenue streams. And they need to have a positive outlook. Moderated by Elliot Maras, editor of Automatic Merchandsier Magazine and VendingMarketWatch.com, Steve Marx of Royal Vending, Maple Grove, Minn., Scott Guardino of Paramount Automated Food Service Inc., and Jim Carbone of Classic Vending, Chicago, Ill. share insights and experiences.