EEZA Holds “Making Money At Vending” Seminar
Over 50 people attended the Economic Empowerment Zones Agencies [EEZA] Making Money at Vending seminar on Tuesday, October 22 at the BIU to learn skills to take their businesses to the next level in these challenging economic times.
The seminar was broken into three sections. The first section dealt with importation strategies. Vic Ball, co-owner of Strategic Procurement Solutions, shared with attendees the importance of planning ahead to avoid increasing costs.
William Forbes of Bermuda Forwarders followed, encouraging attendees to ask four questions when it comes to importing goods: 1] What is it?, 2] Where is it coming from? 3] What are your buying terms? 4] What is the weight and cubic volume?
He indicated that the Non-vessel Operating Common Carrier [NVOCC] can help get the answers to these questions and more and that vendors should rely on them for support.
The next section focused on vending technology and using technology to increase sales. Florence Smith, Vice President Head of Merchant Services for Bermuda and Cayman Islands at Butterfield Bank, showcased the Bank’s wireless credit card processing device. Ms. Smith stated that their device “for customers’ payments to be deposited directly into their bank account…”
Ms. Alexandra Mosher, a Butterfield Bank customer shared her personal experience using the device and transitioning from vending into her own brick-and-mortar store. Alexandra stated a “Wireless Credit Card Machine means Doing Business Anywhere.”
The last section of the seminar focused on social media. Michelle Wales owner of CV Cafe and Board Member of the Olde Towne Market gave an overview of tried and true techniques for low cost marketing to get your name out there including making friends with journalists, utilising the Community Calendar on VSB, radio ads and using social media.
Nikki Fagan, graphic designer for AAC Saatchi & Saatchi shared her strategies for using social media. She cited an example of the photo that appeared on the internet of the police car submerged in water on Bakery Lane as a missed opportunity for some businesses to market.
She cautioned business owners to never ignore a good crisis and offered that a plumbing company could have used the photo on their Facebook page stating “Pipe Burst? Need A Plumber – Nikki’s Plumbing 29-Plumb.” Nikki shared that the majority of Bermudians have access to a computer in their homes, thus it is imperative for a business to utilize some form of social media if they want to connect with their customers.
She went on to state that “Social Media is Fluid, Measurable, Opportunistic and Fun. And unfortunately because most of your audience is online in some way or another – although you may not go out of business if you don’t use it – you certainly stack the odds in your competition’s favor if they are already using it effectively.
One attendee commented that the seminar was an ‘eye opening experience”; many attendees expressed via their seminar evaluation forms that the social media strategies, importation tips and mobile credit card processing technology segments were extremely beneficial to their businesses development.
Scott Pitcher of East End Organics also gave a testimonial about his businesses usage of Butterfield’s mobile credit card processing device saying that he couldn’t live without it.
William Spriggs, the Somerset EEZ Economic Development Officer and seminar organiser, stated, “We are pleased that we had a great turnout and that all attendees received valuable knowledge that can assist them with taking their business, whether it be vending or retail shop, to the next level. That’s what BEDC is about, supporting entrepreneurs”.
The 2nd workshop within the 3 part series is titled Vending as a Business – Merchandising for success and will be held on November 5th. The final seminar in the series is entitled, Bermuda’s Vendor Markets – Identifying your niche, and will take place on November 19th, during Global Entrepreneurship Week. Attendance at all 3 workshops will gain participants a Certificate of Completion.
All workshops will be held at the Bermuda Industrial Union, 49 Union Street, Hamilton from 5:30 pm to 8:00 pm. To register in advance, please email info@bedc.bm. Registration for the Nov. 5th and 19th seminars are $15 each or s register for both and pay only $20. Light refreshments will be served from 5:30 to 6pm. Walk-ins are welcome.
