Finance & leasing


Finance solutions to help vending recovery


The resilience of the vending industry will help it bounce back according a vending finance specialist but what options are open to operators now to ensure success going forwards.


T


he COVID-19 pandemic has touched most sectors of business in the UK and vending is no exception with statistics from the Automatic Vending Association in October revealing the devastating impact on operators.


As many people were directed to work from home where they could,


turnover plummeted to an average of 34% of its previous level and over 60% of the workforce were furloughed. At the time, AVA chief executive David Llewellyn pointed to research


which showed up to one in five jobs in the sector were at risk. But Tower Leasing’s Kevin Reed is optimistic about the future.


“Fortunately, as vending has proved historically, we are a resilient bunch that works through recessions and disasters and bounces back extremely quickly. We hope that this proves to be the case this time too as we reshape our businesses for the future.” “There’s clearly a pent-up demand in our sector and many clients need


new equipment or new solutions. As well as traditional vending requirements there seems to be some migration away from medium-sized catering facilities towards both vending and micromarket.” Kevin believes that with limited cash flow and money tied in


depreciating old vending assets, operators must look at alternative ways of selling to their customers.


18 | vendinginternational-online.com


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