How to Start a Vending Machine Business
Surely, the vending business is a profitable venture for individuals. You have the option to start with several types of vending machines with a small amount of investment. Candies, Drinks, Ice creams, Cigarettes, are very common usages of vending machines nowadays.
vendingworld.com prefers you to find vending machines on your own instead of franchising. In this regard, you can purchase bulk vending machines that can dispense several products instead of single product. However, vendingworld.com also informs you that in this case, per unit profit will be lower as compared to single product vending machine.
Below are the simple steps by vendingworld.com to help you if you are interested in vending business.
How to Start a Vending Machine Business by vendingworld.com
-
Decide the Type of Your Vending Machine
It depends on your budget and investment. If you want to pay less than $200 per machine with fewer mechanical issues bulk vending machines can be the good option for you. However, if you are willing to spend more than $3000 than you can decide on the machine that best fits your needs.
-
Business Opportunity
To have your vending machines, contact comparatively large wholesalers in your area and ask if they sell vending machines you need. You can touch as much as you can dealers in this regard to get the lowest price and best offers. However, if you decide to purchase online, vendingworld.com is a great option for you. They deal in used and refurbished vending machines which cost you up to 50% less as compared to the new machines.
-
Find a Reputable Wholesaler for the Products
Find a good wholesaler that can meet your business criteria. For example, if you decided to vend soft drinks, find a beverage wholesaler nearby your location. Develop a good mutual understanding with them and see what they have to offer you. Select the one who comes up with good delivery records and best profit rates as compare to the others.
-
Installation of Vending Machine
Place your vending machines in busy commercial areas. Also, keep an eye on the competition. Consider both issues carefully, as they both are very important for the success of your business.
-
Negotiate Percentages
If you need to install large vending machines in bulk numbers, you need to pay to the owner of your location. As per a vendingworld.com study, the majority of the vending machines owners are paying 15% to 20% or gross sale to their accommodators. However, if you can get lesser percentages offer than this, it can be a big plus for your business.
-
Keep your Vending Machines Up to Date.
Keep your machines working all the time. You can hire someone who is an expert in this field or you can learn how to repair your vending machines because it will save you money.
-
Visit At Least Twice a Week
According to vendingworld.com survey, you need to visit your machine at least twice a week. Apart from that keep the change in shape coins and place them near the machine. You can obtain the money bags from your bank.