Vending Machine Business Is Not For Slackers

When starting your own vending machine business, the first thing you need to know is that it is not a business for slackers. It’s not easy money; it takes work.

Just because you’re going into business for yourself and have no boss, you’ll still have to determine and carry out your own plans.

Before you mortgage the house or take out a loan, assess your financial situation. How much startup money will you need? You might do best to start out with a couple of vending machines instead of a hundred and see how it goes.

Pick good locations. You don’t need to go through a location finder; they will only charge you a fee, and the results are often useless. They might pick out a rough part of town, or a store where the people you need to deal with are difficult. It’s a better idea to scout out the territory on your own. If you have or know any neighborhood kids, ask them where they think a good place for vending machines would be. Places where people have to stop and wait are good options. They’ll be more inclined to buy after looking at your machine for a minute or so. Pick a couple of good spots, talk to the owners, and then make a decision. Find the perfect sites for your vending machines. Check to make sure an electrical outlet is nearby.

It’s a good idea to offer the owner a flat monthly rent rather than a percentage of the profits. If your machine does well and pulls in a substantial amount of sales, the owner may be tempted to kick you out and buy his own machine.

The monthly rate should be determined by a number of factors. These include the contents of your vending machine (gumballs, candy, snacks, soda, coffee, food, toys, etc.), the popularity of its contents in that location, how much space your machine takes up, and the type of business at the location.

Once you have been successful at one or two locations, invest some of the profits into buying other machines. You’ll have to stop by regularly to refill empty machines, throw out expired products, fix mechanical problems, talk to the site owner, and, of course, pick up your money.