Interested in starting a vending machine business? If you want to run a business that allows you to be in several places at once, then this might be the right industry for you. There are so many benefits to running a vending machine business that it’s hard to think of reasons not to.
The Pros
Vending machines come with tons of benefits. You can make sales without having to hire staff and manning the machine 24/7, without renting an entire shop or requiring large start-up costs. Vending machines also provide a fast return on investment, which is something that ever entrepreneur strives towards. Every time you restock your machine you also collect the cash your machine has made.
While that all sounds great, most people don’t know where to start with a vending machine business. Let’s take a look at some guidelines on how to make the most of this venture.
The Right Vending Machine Supplier
Find a reputable vending machine company that you can rent or buy your machine from. While there are a bunch of vending machine suppliers out there, it’s best to not rush into anything — it’s an important decision to make.
Make sure your chosen supplier can accommodate your needs fully, they should be happy to provide support at all times, assist in the maintenance of the machines and even help with the installation of your vending machine. The best companies are backed by VASA (the vending machine association of South Africa).
Choosing The Right Location
Once you have secured your vending machine, you need to find a place to put it. Location is one of the most crucial factors that will determine how successful your vending machine is. 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.
Here are some of the best locations to place a vending machine:
- Entrances
- Exits
- Lunchrooms
- Near other vending machines
- Waiting rooms
- Factories
- Hospitals
- Schools
- Universities
Managing the Stock
It goes without saying that people can’t buy what you don’t have. If your 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 machine full of products that people aren’t buying.
Continual Maintenance
Nothing is more annoying than a vending machine that swallows your cash! If you don’t ensure that the machine is maintained, this is exactly what will happen and your customers just won’t come back. 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, make sure to contact Top Vending. We can offer you advice and guidance to help you start your own vending machine business. Your future in the vending industry awaits!
