Did you know that the U.S. vending machine operators industry’s market size is $9 billion? There are over 18,000 American vending machine businesses with more than 55,000 employees.
Vending machines can be very profitable but only if you know the basics. Have you ever considered starting your own vending machine business?
The following guide will offer several vending machine business tips to help get you started.
Choosing a Vending Machine
Most vending machines tend to serve food and beverages such as snacks and sodas. Choose the types of foods and drinks for your machine according to its location and the traffic.
You don’t have to use the exact same items if you plan to buy multiple machines. For example, certain snacks and drinks might sell better in a hospital than at a park.
Bulk vending involves smaller machines typically found at restaurants and grocery stores. They sell things like toys, candies, and other small items. These machines are usually cheap, manually operated, and have the least overhead.
Smaller vending machines are a great way for aspiring vending operators to get a feel for the business. They can also be a great passive income source when they’re in the right location.
Specialty vending machines are modern machines that sell premium products. Their items are totally different from standard machines and usually charge more money.
They dispense things like electronics, hot beverages, and ice cream. Higher prices often mean fewer sales, but the location is key with these machines.
Choosing Locations
First, research and determine your machine’s target customer. Consider what they need and what locations they frequent.
For example, you might want things like protein bars and shakes if your machine is by a gym. Likewise, those items wouldn’t be very popular next to a bus station or school.
A specialty machine stocked with fabric softener and detergent packs would do well by a laundromat. Electronic cords and other accessories make sense around airports and train stations.
Remember that you can’t just place a vending machine anywhere. You must get permission from property owners or managers. They might not give you space if they operate their own vending machines.
Figure out what the commission rates are after a location approves your machine. Vending machine commissions are typically small and negotiable.
Naming Vending Machine Businesses
Naming your vending business is an important step to building a successful brand. Your business’s name is how customers will separate it from your competition.
Keep the name simple but make sure it’s catchy and memorable. Get creative and make sure it’s unique and not already taken. Conduct a search through the U.S. Patent and Trademark Office to ensure its originality.
You can also start your journey into vending machines through an established franchise. Check out Healthy You vending reviews for more information on this concept.
Ready to Start Vending?
Vending machine businesses are fairly simple to start if you just remember the basics. Determine the type of machine you want, your target customer, locations, and branding.
Follow our vending machine business guide and soon your pockets will be filled with dollars (that aren’t slightly bent). Check out our other business articles for more helpful tips and information.
