How to Start a Vending Machine Company
Starting a vending machine company can be a good way to make a full-time salary without spending hours in the office. Vending machine owners must understand how to gain clientele and advertise successfully. According to Entrepreneur magazine, costs for starting a vending machine company can be anywhere from $150 to $50,000, depending on the company you choose and the number of vending machines you start with. All Business magazine reports that vending machines are a 40 billion dollar industry, but how much each individual machine makes is determined by the type of machine and location.
Other People Are Reading
Instructions
-
-
1
Decide which type of vending machine you'll get up and running. Candy and soda machines can be placed is most business locations, and should provide a regular income. However, vending machines that provide arm wrestling games may offer more income on the weekend or during special events. An arm wrestling vending machine provides two competitors the opportunity to win an event and receive candy and prizes.
-
2
Purchase your machines. Decide whether you're going to buy all of your machines from one company. You have the option of buying them separately through discount venues. Entrepreneur magazine features a special section with vending machine information.
-
-
3
Obtain the inventory. The vending machine company that you choose usually offers the inventory. If they do not, you can go to one of the retail warehouse stores located throughout the country.
-
4
Place the machines. Decide where your machines will gain the most exposure. For instance, an arm wrestling machine will most likely make a lot of money at a sports bar. Candy and soda machines will make money in an office environment. You may have to split the profits with the office or bar.
-
5
Check your vending machine(s) weekly. Your equipment needs to be in acceptable condition at all times.
-
6
Reload items and cash each week. Make sure there are plenty of dollar bills available for change. Remove large amounts of cash when necessary. Replace with new candy and soda regularly.
-
1
Tips & Warnings
Encourage customers to buy from your machine by providing choices that are different from the competition.
Use seasonal candy, and stay current about popular brands.
References
Resources
- Photo Credit candy image by Soja Andrzej from Fotolia.com
