Tip 2 – How to grow? A distributor’s opinion
The best way is to grow within your existing locations, and the
next best thing is to blanket the area around a new location.
Mail or self-promote. If they’re not responding to a flyer,
arm yourself with a brochure, walk in, and tell them about the
benefits of having your equipment. And keep checking in with them
periodically if they don’t give a definite answer. Hammer
on the decision maker until they say yes or no.
What would you tell people who are hesitant to expand their business?
Sometimes I hear people say they can’t expand until they
pay off their original investment. With this business you don’t
have the overhead and negative costs that other businesses have;
so you can work on developing the business and building the cash
flow right from the start, so you can pay it off as you grow.
My mind set is that it doesn’t matter how long it takes,
as long as the cash flow takes care of what I need. It kills me
that there’s trillions of dollars invested in CDs and when
someone gets their monthly statement, no matter what their interest
is—and it’s usually around 3%—if their principal
is the same or untouched, they’re happy. But they don’t
realize that the principal is shrinking due to inflation, so they’ve
actually lost money!
If I have to pull the money out of an investment like a CD to
get into the business or expand it, it’s fine, because as
long as it’s investment debt and not consumer debt, it’s
to your advantage. It’s an investment in your own future.
Like any other business, I think that it’s a 20-80 deal;
20% of your business will carry the other 80%. That’s true
for big corporations, Hollywood studios, ball teams—any
business. For instance, with ten machines, 20% means two locations,
and you might not find those two great locations within the first
six months, but it’s important to get machines out there,
keep them out there, and keep looking to grow.
It’s really like pitches in baseball. You might get some
good ones and some bad ones, but you’ve got to be ready
to hit the home run. Just continue to locate your machines and
grow your business so you can hit the home run.
Any final thoughts for new distributors?
This business is unlike anything else. It’s probably the
simplest business you’ll find, and it’s great because
your success is based on your effort. One of the greatest things
you have is Location Assistance; it’s probably the key to
this business, but—again—your success is determined
by your efforts.
Some people have these unrealistic expectations, and while it
is pretty much a “turnkey business”, some people think
they can retire on six machines, and if it doesn’t happen
in six months, they want out. It’s not “get-rich-quick”;
I don’t trust someone who talks about “get-rich-quick”.
It takes a little bit of effort over a period of time, but you
can make it what you want it.
People ask me how you can fail in this business. There’s
really only one way to fail—don’t get your machines
on location! Oh, there’s one other way: if your machines
are already on location, you can fail if you don’t fill
them regularly. That’s it!
This business is risk-free from the standpoint that people aren’t
going to stop eating and drinking. It’s not a flash in the
pan like video games or the latest computer gadget; it’s
not here today and gone tomorrow. It all comes down to people
eating and drinking, and as long as they eat, drink, and gravity
works, I’m in business!
