The first vending machine that will dispense precious metals and jewelry will be out in Mumbai by the luxury jewelry firm Gitanjali Group. Prices of products will range from $20-$700 and vary from gold, silver, and coin items.
FTC Has New Rules For Business Opportunity Companies
The Federal Trade Commission has added new rules to the Business Opportunity Rule to help protect the consumers before they purchase into any opportunities. Disclosures are required from the business opportunity sellers to all prospective buyers. The new rules should be simplified for the sellers who provide necessary information and should be easier for the buyers to assess risks.
The following changes are set to be effective on March 1. This information must be disclosed to all business opportunity buyers.
- More information about who they are, including the seller’s name, business location and phone number.
- Supporting information for any earnings claims, including the number and percentage of people who hit that mark.
- Whether legal actions alleging fraud or mis-representation have been brought against the seller, its affiliates or “key personnel”
- More detailed information about cancellation and refund policies.
- Names and contact information for references who participated within the past three years.
Piranha is proud not to be a part of Business Opportunity companies. We strive to develop and supply quality vending machine products without having to go into any grey areas in sales.
How To Fix A Vending Machine Refrigeration
- Take the refrigeration unit out of the vending machine.
- Determine what the possible problem is by checking for the following:
- Low Freon R134A
- Broken Relay
- Broken Temp Relay
- Broken Evaporator or condensor fans
- Block in Cappilary line
- Repair the problem
- Vacuum the system from moisture
- Refill with appropriate R134A amount
- Re-install system back in machine
Background on Piranha
The Piranha vending system was created with the concept of coming up with a simple, profitable formula for anyone who wants to get into the vending business. Years of experience with different types of vending machines earned a field-tested knowledge of what is the best type of equipment for a location that requires a vending machine and it’s services. Speaking with hundreds of vendors and businesses nationwide gave Piranha the advantage of being able to develop this program and offer it to our new customers.
For over 14 years, the founder of Piranha has been in the front line of developing this program to ensure success of every client that comes through our door. Trust that this system will work for you no matter how big or small you want to be in this business. You can be confident that this is the most effective way to start a vending business because you are in very good hands with Piranha!
- The vending industry is considered a “recession proof business”
- You are selling nationally recognized products like Coke, Pepsi, Doritos, Snickers…
- Product markup is usually 100%-300%
- There is a never-ending supply of business locations for your vending machines
- Quicker return on investment with no “re-occuring” franchise fees
Number One Mistake Most People Make While Loading A Vending Machine
Ever wonder why you’re always the one unable to get your product when trying to use a vending machine?
The fact is, there is a science to loading the products into a vending that will prevent it from jamming!
Always refer to your owner’s manual for tips, because every manufacturer has slight different designs that helps with this issue. You should always load products as suggested by the manufacturer. Those engineers have a reason when they design the vending machine to vend a certain way!
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