A very valuable tool is a digital scale. You can pick up a 3lb scale at walmart for $20 and it will help you immensely. You can use it to count quarters, or more importantly to estimate the value of candy. In the article titled, “Candy Dispensing Settings for your bulk candy vending machine” I talked about how many pieces you should give of each type of candy from the customer’s perspective of value. Now it’s time to address this from the other side, estimating how much will you make per pound using those settings. The way to estimate is really easy so let’s talk about the process so you can use this for any candy.
First take a hand full of candy and put it on the digital scale, take the given weight and divide it by the number of piece. This will give you an average weight per piece. Now take the weight per piece multiplied by the number of pieces you plan to vend at once. Then take 16oz (1lb) divided by the resulting vending weight in oz and you get how many vends per lb. Now multiple they by your vending price, $0.25 and you now have an estimate of how much a lb of candy is worth after being run through your machine.
This number is important it helps you make more effective buying decisions so you know your margins when you buy your candy, also it can show you how a single piece of candy more or less can cost you a dollar or more in sales.
I’ve taken a little bit of time to compile a list with this math already done for you based off the recommended settings in the past article.
|Candy||Weight per Piece||Pieces Vended||Vend weight||Vends per LB||Value per LB|
|Peanut M & M||0.07||9||0.63||25||$6.25|
|Mike and Ikes||0.05625||7||0.39375||41||$10.25|
|Boston Bake beans||0.045||10||0.45||36||$9.00|
|1 inch Gumballs||0.3||1||0.3||54||$13.50|