Vending Machine As A Business
You have probably seen those ads in the newspaper that promise you $1000 dollars a day with a vending machine route, and while it is possible to make that much money daily with vending machines, you'll likely need a full staff to maintain such a route. However, a vending machine route that takes you four to six hours per day on average could easily make you $100 a day or perhaps even $200 if your vending machine is placed in the right location. However, you should know what the investment is for the vending machines, and what your profit margin will be, because although you may make $100 a day from the vending machines, you'll need to use the majority of that money to restock your machines.
However, as a vendor you are able to purchase from the suppliers which saves you money, and the larger amount of vending machine items that you purchase the more you save, so always buy once a month or so in bulk so that you can get the best deal and make as much money as possible from your vending machine route.
How Much Does A Vending Machine Cost:
Vending machine pricing varies based upon the technology that is being used, the security that the vending machine offers and what sort of items the vending machine was designed to hold. There are many different types of vending machines including vending machines that dispense beverages, cigarette vending machines and the standard vending machine that has chips, cookies and candy. Also, there is the frozen food variety which may dispense sandwiches or other microwavables, or ice cream. The refrigerated vending machines are usually the most expensive ranging from $5000 for brand new to around $1500 used. As far as the normal vending machine goes the prices go from $3000 to $4000 new to as little as $500 used if you find a good deal.
How Much Will My Inventory Cost
This depends entirely on what kind of a deal that you can strike with your supplier, how much you buy at one time (bulk price) and how long you have been with your vendor. Generally, however when you start out you can stock your vending machine with candy and other snacks for about 30% less than what you would pay retail. So for instance, if a bag of M&M's costs 80 cents at the store, you might be able to pick up M&M's for about $0.58 cents a bag. Then you can charge a dollar or a dollar and a quarter and your profit margin is over 50%. Each type of vending machine item will vary as will each distributor so shop around.
Where Can I Place My Vending Machine?
To find places where you can put your vending machine you'll need to get with companies or organizations that have an obvious lack of vending machines. You may be able to strike a deal to place your vending machine for free, simply to provide employees with a way to purchase snacks or drinks, but more likely since most companies can afford to purchase their own, and know that the return of investment will be short, they will offer to allow you to place them for a percentage of profits. This is beneficial for them because they don't have to worry about vending machine maintenance or restocking the vending machine.
Wander through the towns in your local area and look for signs of a company or building needing vending machines.
You may be able to place your machines for say, ten percent of your monthly profit, and that will allow you to sell your goods, as well as for the company to make a few buck and keep their employees happy.
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