How to Start a Vending Machine Business
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Published: Friday, September 16, 2011
Starting a vending machine business can be very profitable but it is much more than just putting a soda machine in front of a store. Here are some tips to start your business on the right foot and keeping the foot traffic coming back for more!
What kind of machines do you want? There are different types of machines that dispense candy, sodas and other food and non-food products. Price List Successful vending machine owners have several machines in different locations to gauge profitability. There are many new alternatives vending machines like healthy organic machines will appeal to a specific demographic. The DVD industry has recently made thriving entry into the vending market. Choosing only one type of product and one location limits your earning potential. Statistics prove that consumers ages 18-29 prefer a vending machine to a convenience store and that this demographic wants newer, tech-driven machines. Next you must decide whether you want new or used equipment. It may be more affordable to purchase used equipment when starting out, but always make sure that the vending company you are working with have machines that are in good working order and have a warranty. Look into several types and choose a variety. Some machines even use software that could be accessed remotely for inventory control.
Be cautious when starting any business. Avoid seminars that make unbelievable promises of sure-fire ways to make big money and fail to deliver. Some companies capitalize on a person's excitement and lack of knowledge and charge double for equipment. Only deal with vending machine companies that have years of industry experience and references.
Finding the best places for your vending machines is critical. You may want to choose a vending locator for advice on the best locations in your area. Vending locator companies will know the best negotiation strategies and whether or not to pay a commission or fee to the location. Because a quality vending machine locator company often already have a relationship with local businesses you have the benefit of the best locations. Vending locator companies know the ins and outs of the business and can provide the best return on your investment.
Dollars and Cents
When beginning a vending machine business, plan to make a financial commitment of a minimum of $10,000 to $20,000 and choose a vending locator company that will put you on your way to the most profitable locations with solid business advice based on years of experience. Contact Us