Facts About Starting A Vending Business
Like most of the rest of us humans, you have always dreamed of being your boss and having a life of financial security for you and your family. A vending business might just be the opportunity you've been looking for.
o You can earn up to an 80% profit margin with vending machines.
o You will not have to hire anyone else, unless you want to.
o You will realize self employment tax advantages.
o Vending machines are an all cash business.
o You can run your business from your home-no need for an office.
o You will set your own working hours.
Vending machines have been around for a good-long time, and will be here for a long time to come. This is a great opportunity and you might as well get in on making money with a product that sells itself. This is a booming industry and anyone can have a vending business of their own.
Snack vending machines come in a variety of sizes and shapes. Some sit on a table and others are made to be hung on a wall, there are also the stand alone floor models. Some vending machines are electronic and others are basically operated.
You have a choice of the type of goods you wish to offer with your vending business. Some snack vending machines allow you to purchase hot drinks as well as snacks from the same machine, while others will serve snacks and soda. Some snack vending machines offer you a choice of soda, snacks, and coffee or hot beverages, all in one machine.
You will need to be able to raise and lower your prices on the machines. If your supplier orders more money, you will be able to pass it on to the consumer when you are ready. Electronic machines will usually allow you to change the price, while manual machines will need to be modified.
You need to have product options, do not get into a vendor franchise that offers only one item. Remember, people like variety, and you will do better in your vending business if you offer an array of drinks or snacks. Some vending machines give you the option to add other products to your machines as often as you like.
No matter what type of vending machine you choose, you will need certain things to get the ball rolling
o Business Cards- You will not need to spend a great deal of money on your business advertising. Low cost business cards are a great way to get the word out.
o Postcard Marketing- Mail postcards to local businesses offering your services and pointing out how they can make a profit. This is easier than physically visiting each location. Offer a free gift if they will make a visit to your website.
o Create a Website- You will want to establish an online storefront for your vending business. You can answer any questions a potential customer may have, and show them your machines before making a personal visit.
There are other areas you will need to address when you start a vending machine business, such as licensing and startup costs. You can find out what you will need if you contact your local Small Business Association. You may also be able to get information from the vending machine company, or vending machine franchise you go through.