How to Make Money From Owning Vending Machines
With some careful business planning, you can make a full-time income owning and servicing your very own vending-machine route. Even if you're only looking for a way to supplement your income part-time, the vending-machine business could work for you. If you're able to get your own vending machines situated in a high-traffic business such as a mall, grocery store, laundromat or popular restaurant, you could make a decent profit. As with most other businesses, the vending-machine business requires an investment of both time and money.
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Things You'll Need
- Start-up expense
- Used vending machines
- Transportation
- Vending-machine products
Instructions
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Research businesses in an area where you'd like to place vending machines to find out how much foot traffic the businesses get every day. Find out what types of customers frequent the businesses, so you can determine the best types of products to sell and what types of machines would be best. Choose an area that's not too far away from your residence.
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Rent a used vending machine before purchasing one. Choose a business location and test out the rental machine first to make sure the location is profitable. If the machine brings in profit, purchase one and replace it with the rental.
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Purchase a used vending machine from the Internet. To find used vending machines, order them from online vending companies that sell used machines. You can also check eBay, Craigslist and even local businesses that might be selling machines. Unless you have a lot of money available, avoid purchasing a new machine. Look for a used machine from a legitimate company that provides free support or assistance getting started in the vending machine business.
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Research each type of vending machine product and determine which ones statistically bring in more profit. You can sell candy, healthy snacks, coffee, gumballs, toys or soda.
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Visit local businesses and speak with the owners about your vending machines. Some places to start include schools, restaurants and office buildings. Ask if they're interested in the vending machines and what types of products they would like stocked in the machines.
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Discuss commission rates with the owner of the business. Almost every business will require anywhere from a 5 to 20 percent commission from your vending machine's profits. Do not mention a commission rate until the owner mentions it.
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Use only one or two vending machines in the beginning and test out each location. Purchase additional used machines as you earn more money.
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Service your machines every week. Replace your products accordingly to avoid stale candy and rotten food. Collect the money, refill the machines and inspect the machines for mechanical problems.
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References
Resources
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