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With Americans
spending more than $20 billion a year on vending
machine goodies, it’s no wonder
more and more companies and entrepreneurs are moving into
the vending business. But what vending
machines are the most popular? What
types of machines are available to vendors? And, most
importantly, what are the major things to consider when
starting your vending business?
The main reason why many people dabble in the
vending machine industry is because it’s
so much fun! There are many business owners who simply
love the look of old-fashioned vending machines
so much, that they stared out by purchasing them to display
in their home. Many like to entertain their children and
friends with candy vending machines and
then decide to turn it into a profitable business down
the road. The general mood everyone receives upon looking
at vending machines is fun, enjoyment
and a “kid again” feel. The vending
business is truly one of a kind!
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There are many
books now discussing the vending business
as well as associations an interested businessman can read
up on to learn the tricks of the trade. But be prepared
to start out small and then grow your business, as the demand
will surely allow. Starting your vending business on a part-time
basis by strategically placing two to three vending
machines, especially candy vending machines
or gumball vending machines, at busy locations
is key. You will need to write up a detailed, comprehensive
business plan with a financial check list for your vending
business, check into the leasing of vending machines,
and estimate a budget that is at least a year out. You can
also purchase a call script that can assist you to find
available locations that have a greater amount of traffic
flow to jump-start your vending business.
Normally, you would issue a location contract, giving your
company exclusive rights to that sole location for an estimated
amount of time.
Vending machines also need to occasionally
be serviced so it’s a good idea to also have a projection
of service costs beforehand as well. When purchasing vending
machines to begin your vending business,
consider purchasing bulk vending machines,
which will provide you with the lowest guaranteed rate from
a creditable company or warehouse. Normally, you can go
to a vending machine warehouse for this purpose where a
bulk candy vending machine will dispense a variety of candy,
stickers, small toys, balls, gumballs, etc., which also
can gain you more of a profit.
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Determining
a location is really the deciding factor on your daily,
weekly and monthly profits. The busier the traffic flow,
the more business you’re bound to receive. Also,
you can go about placing your vending machines
in stores by offering them a percentage of the profits,
or you can go through a non-profit organization, which
can endorse you as a vendor. The space is allotted through
the store’s donation to the charity and you in turn
give a small percentage or a donation to the charity.
You will also need to check by state whether you will
need a business license to operate a vending business,
as it varies state to state.
Some different types of vending machines
and products are the following:
• Candy vending machines and Gumball
vending machines are available in single stand,
double stand, triple stand, quad stands or a spiral stand
to give you the most out of your gumball vending
machine.
• Snack vending machines/Soda vending machines
can go anywhere, from single-serving canisters to 27-50
snack capacity vending machines. Combine
it with a snack/soda combo vending machine
for added value to your vending business.
• Medical vending machines, usually located in public
restrooms of shopping malls and convenience stores and
hospitals are generally wall-mounted.
• DVD/CD/Video Game vending machines
– This is a great one to do a bulk vending
machine with all three products since you will
generally have someone who will buy more than one product.
• Others: This includes laundry soap vending machines
that are located in laundry mats, with soap, detergent
and bleach, usually wall mounted; change vending machines;
frozen food/fresh food vending machines;
condom vending machines; cigarette vending machines;
pizza vending machines; magazine vending machines; coffee
vending machines.
In reality, the opportunity to start your own vending
business is really positive. Setting realistic
goals and doing your research will result in exceptional
profits. The business opportunity of vending machines
is advancing since more entrepreneurs, suppliers and manufacturers
are realizing there is a huge demand for products that
are readily available and strategically placed.
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