How to Start a Vending Machine Business
Have you ever wondered how to start a vending machine business? The chances are, if you want to start the kind of business that will allow you to be in several places at once, you have thought about starting a vending machine business of your own. With so many pros to this kind of business, it’s actually hard to think of reasons not to start a vending machine business.
Other than being able to make sales without having to hire staff 24/7, without renting an entire shop or requiring large start-up costs, vending machines also provide a fast return on investment. Every time you restock your vending machine, you also collect the cash your machine has made.
So now that you know you want to start a vending machine business, all you need is to know how to…
The Right Vending Machine Supplier
Find a reputable vending machine company which you can rent or buy your vending machine from. While there are a bunch of vending machine suppliers out there, it’s best not to rush into deciding. Make sure your chosen supplier can accommodate your needs, they should be happy to always provide support, assistance in the maintenance of the vending machines, and assistance with installation. The best companies are backed by VASA (the vending machine association of South Africa).
Rent or Own?
You can buy your vending machine outright, or you can rent the unit. Choose a vending machine supplier that has a solid history of renting vending machines as well as s solid service history. Beware of committing to a rental agreement with a company without a solid service history. Imagine being stuck in a 36-month vending machine rental contract, and the vending machine is not working and is poorly serviced.
The Right Location
Once you have secured your vending solution, you need to find a place to put it. This can be tricky, but it helps if you offer the hosting company or business 10% to 15% of your turnover. Over and above getting other businesses on board, you need to make sure your vending machine is going to be in a high-traffic area, otherwise, it just won’t be noticed, and you won’t sell the stock.
The best spots are:
- Near other vending machines
- Waiting rooms
It goes without saying that people can’t buy what you don’t have. If your vending machine is empty or low on stock, you will lose out on sales. What’s equally important is knowing what your customers want to buy, it would be silly to stock your vending machine full of products that people aren’t buying.
Nothing is more annoying than a vending machine that swallows your money! If you don’t ensure that the machine is maintained, this is exactly what will happen, and your customers just won’t return. Also, a machine that’s out of order can’t make any money so your investment will literally be gathering dust.
Now that you know exactly how to start a vending machine business, feel free to contact us. We can offer you advice, and guidance and help you start your own vending machine business. Your future in the vending industry awaits!