Vending machine contracts are known for being very vague and that can lead you to all types of problems. You should know up front that these types of loopholes in the terms of the contract often aren’t done by accident. Instead they are due to the unscrupulous plans of someone out to make money at your expense. There are vending companies that make all kinds of promises but they don’t fulfill them.
As you read through the details of a vending machine contract, they will likely be rushing you to complete it and sign it. This should be your first indication that all isn’t in your favor on this type of transaction. Ask questions about things you aren’t sure of. Push for more details in writing if needed.
For example, they may promise to deliver you two vending machines on a particular date for a set amount of money. Does the contract specify what make and model these vending machines are? Does it specify if the vending machines are new or if they are used? All of these details are extremely important for you to have in writing.
One common ploy is that they will tell you about delivering vending machines or that they are going to provide you with locations. Yet they don’t tell you enough details about it for it to be valuable to you. They can deliver any types of vending machines they want and they can give you the worst locations for them. All of this will be legal according to the terms they and you agreed to in the vending machine contract.
In order to cover yourself in this regard, you need to have them add more information. For example, it needs to say they will find you quality vending machine locations that will allow you to make at least a certain amount of money. If they aren’t willing to put that in writing then you need to look somewhere else for services. In most instances you will just want to take care of that aspect of things on your own.
The issue of vending machine contracts needs to be extended to those contracts you have in place with where you place the machines as well. They should cover all the specifics of the deal including how long the machine will remain there, how much it will cost you to use the space, and all the other details you can thing of.
You may want to have an expert attorney in the area of business review any such contracts for you. It is hard to evaluate the content if you don’t really know what you should be looking for. These contracts are going to be very important for your vending machine business. Don’t sign them until every detail is something you are satisfied with.
The biggest problem though is that people tend to assume certain things. They want to think the best of others. You just can’t be too careful though with any type of contract. Too may people out there are going to try to get one over on you if you do. It is well worth taking the extra time to really know what it is that you are agreeing to.
Rob Farnham - Veteran owner/operator of a full line, full-time vending machine business! After making the near fatal mistake of purchasing an overpriced vending business opportunity package, he turned his business around. He discovered many ways to find locations, and built a large, profitable vending business without spending a fortune! See his how to start a vending business articles and website.
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