The first thing to consider when starting your own vending machine business is that it is not for slackers. It takes work. Just because you are going into business for yourself, will have no boss to deal with, and pretty much determine your own plans, that doesn't mean the vending machine business is easy money.
Assess your financial situation. How much money will it take to start out? Before you mortgage the house and buy a hundred vending machines, start with one or two and see how things go.
Pick a good location. Don't go through a location finder; they will charge you a fee, and their information is often useless. They might pick out a place that's in a rough part of town, or they will pick a spot where the people you need to deal with are difficult. It is a better idea to scout out territory on your own. If you have or know any kids, ask them where they think there should be vending machines. Places where people have to stop and wait are a good option - they will be more inclined to buy after looking at your machine for a minute or two. Pick one or two good spots, talk to the owner, and decide on the perfect site for your vending machine. Make sure there is an electrical outlet nearby.
It is a good idea to offer the location owner a flat monthly rent rather than offering a percentage of the profits. If your machine does well, and starts pulling in a substantial amount of returns, the location owner may be tempted to kick you out and buy his or her own machine. That monthly rate will be determined by a number of factors, including what your vending machine contains (gumballs, candy, snacks, soda, coffee, food, toys, etc.), how popular its contents are in that location, how much space your machine takes up, and what type of business your machine is located on or in.
Once you have found success with one or two locations, roll over some of the profits into buying other machines. Be sure to stop by regularly to refill empty products, throw out expired products, fix any mechanical problems, talk to the site owner, and, of course, get your money.
About the Author
Vending Machines Info provides detailed information about the vending machines business, focusing on candy, soda, snack, coffee, gumball, and dvd vending machines, as well as vending machines for sale. Vending Machines Info is affiliated with Business Plans by Growthink.