Famous for landing themselves one of the greatest deals to ever close on ABC’s empire-building hit show, Vengo Labs is a company that has produced a new age of high-technology touchscreen vending machines that offers an extra element of engagement and interactiveness with the end consumer.
About Vengo Labs
Vengo Labs is responsible for creating a new unique brand of vending machines. However they are not your ordinary vending machine: instead they feature a slick touch screen and can offer items from candy and electronics to discounts on useful things like Uber rides.
Brian Shimmerlik expressed interest in developing the product and his idea won him the NYC Next Idea competition. In 2012 he launched Vengo Labs. The company was featured on ABC’s Shark Tank and managed to walk out the door with a $2 million deal with famous investors Lori Greiner and Kevin O’Leary.
As a way to market his product Brian provides discounts for popular services (for example Uber), to customers when they give Vengo Labs their number. It was a tricky process getting the design of these revolutionary vending machines right, but the company continued to build and has now perfected its design. Currently you can find Vengo machines scattered about New York City and by the end of the year the plan is to have 1,000 up and running.
These vending machines are actually super cool for several reasons:
- They feature an interactive touch screen display
- They operate cloud-based inventory monitoring
- You can make payments without cash (credit, debit, apple pay, and campus cash accepted)
- They are able to sense, capture, and respond to foot traffic in the area
- If for some reason you pick an item and don’t receive it there are built in sensors so that you can be instantly refunded
Vengo Labs has brought vending machines to the 21st century and that means you won’t just find candy in these glass boxes. So far, besides snacks, the company has found that their most-liked items include personal care products and electronics.
So far brands like Hershey are backing Vengo Labs because it’s an opportunity for them to advertise since the machines play ads while they process your order. A fully stocked machine will hold 40-80 products. Since we’re talking about more interesting and useful items like a pair of ear buds, the average price for one of Vengo Lab’s products is around ten bucks.
The Vengo Lab opportunity is unlike an ordinary marketing scheme. They offer an opportunity to various consumers like:
- Media agencies
- Vending operators
- Property owners
- Potential employees
The company first and foremost offers Vengo’s for sale. Additionally, advertising opportunities are available for other brands and businesses through Vengo Labs. In order to get specifics about the opportunity that would suit you best the company website will ask you “who you are” (this is where the list above comes in handy). Then you fill out a form and can expect to hear from a customer representative.
Purchasing a Vengo could be a super cool and profitable asset to essentially any company. Picking these vending machines to promote your own business is a smart decision too, since the machines are carefully placed in areas with high foot traffic.
I love this idea, and think Vengo Labs is opening eyes to a new generation of vending machines. Most of us are always on the go, and when you see a vending machine it’s a quick fix for hunger. With these it’s practically like walking into a local pharmacy or grocery store. You head to the park, bring your iPod, but forget headphones? No problem just hit up a Vengo and get on with your day. That’s extremely useful and extra convenient so I definitely think that that these are something that we will start seeing pop up in more states across the country.
Vengo Labs is sort of a work in process, constantly evolving, but it’s an awesome idea and I will be sure to keep up with where the company goes.