Starting Up a Vending Machine Business
Starting up a vending machine business can be a very cheap and easy business to get into. However, beware there can be some risks with a vending machine business. Two big risks to avoid are:
- Paying too much when buying an existing vending machine route
- Buying into a vending business opportunity, also known as a Biz op.
Biz ops are can be a big rip off and you spiral out of control. Many people have invested too much money into these opportunities and cannot recover and eventually give up on the vending machine business. A good rule of thumb when starting your vending machine business is to start with a very inexpensive venture. This minimizes the risk, makes it easier to turn a profit sooner and increases your odds of success.
To help getting started it is best to stay away from buying an established vending route. It is way too easy to overpay for a route when you’re not familiar with the vending business. Once you have had a few years under your belt that is when I would recommend buying an existing route.
When starting out your new business venture if you are looking to minimize costs look at buying previously owned vending machines. Finding a great gently used machine is a great way to keep the expenses down. Once you have started to make a profit you can make it a goal to buy a new shiny machine. Some people have found great, cheap machines in Craig’s list. For the first few months try starting out with 20 machines. This will give you a good taste and education in the vending machine business. It will teach you about location, product selection and time management. I have found that real life experience is sometimes better than reading about it in a book.
Hopefully you found these tips very useful. They are low cost options to starting your own vending machine business. If in the end you decide that the vending machine business is not for you, hopefully some of the tips provided above will have minimized your investment.
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