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Ioannou is quick to point out that the cost of technology decreases over time.
The company also supports energy efficiency initiatives, which it calls GreenVend™. Next Generation plans to use LED light bulbs, which it claims reduce energy consumption by 40 percent, on many snack machines in response to customer demand.
Another goal is to have machines Energy Star certified when customers request it. The initiative also includes USA Technologies Inc.’s VendingMiser® devices, which power down machines after a period of inactivity.
“We are looking at all energy efficient alternatives,” Ioannou said.
POSITIONED FOR INCREASED ROUTE PROFITABILITY
In the immediate term, the company hopes to increase its route density. They are looking to grow organically and acquire more businesses to help meet this objective.
The partners are aware that some industry veterans question the view that larger companies are destined to lead the industry. Skeptics argue that because of the high level of service required in vending, smaller companies are better able to devote top level management to individual customers.
Large operators respond that modern technology gives big companies the means to manage more customers effectively. “Scale and customer focus aren’t mutually exclusive,” said Ioannou.
Ioannou and Mac Isaac believe that if their expectations come to fruition and the industry is led by larger companies, the customer perception of vending will improve. The larger companies such as Next Generation will create higher expectations and the vending bank will become a destination for consumers.
“Sooner or later, it’s going to occur,” Mac Isaac said.
