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Looking for ideas and advice for starting a vending machine business?
Some of the most experienced business consultants recommend starting a vending machine business as one of the best ways to make money fast. You can buy a machine and put it in your car and drive to different locations, such as schools and offices, and offer your drinks for sale.
Here are some tips for getting started…
7 Tips for Starting a Vending Machine Business
1. Determine if you’ll be investing in a machine or renting one
Rental will probably be cheaper, but you’ll need to find someone who has machines available to rent or a location where you can purchase a used machine for cheap. If you want to buy a new vending machine, there are websites that specialize in vending machines – these can help give you an idea of what kind of setup is best suited for your business needs.
2. Do research on various vending machines
The size, product range, and location are all factors that should be considered before you buy a vending machine.
3. Choose a location
Once you have an idea of what kind of machine would work best for your business, choose the location where you want to go ahead with it.
If you’re using a vending machine for selling drinks, make sure there is enough foot traffic in the area where you plan to put up your setup. This will not only attract more customers but also help increase sales since these people are already thirsty/hungry!
4. Decide between buying a machine or renting a machine
You can either buy or rent a secondhand machine depending on much capital you have at your disposal. If you’re buying, be sure to take the time and energy to buy a machine that best fits your business needs and product range.
5. Assemble and setup
Once you’ve made up your mind and bought or rented a vending machine, it’s time to set it up in your chosen location. Most of the machines come with instructions on how to assemble them; if not, you can always ask someone at the store where you bought it from for assistance.
6. Stock your machine
After that’s done, all you need now is some great snacks (and drinks) that customers will want!
Depending on the kind of products you’re selling in your vending machine, try putting some simple yet cost effective items inside such as tea bags/coffee sachets, snacks like chips, nuts, etc. for drinks you can put some small bottles of water (and maybe juice) – don’t forget to mark your prices on the items!
With a little marketing through word-of-mouth and social media sites like Facebook, Twitter, etc., you’ll soon start getting customers coming in to buy products from your vending machine.
Some stores may even let you place your vending machine inside their premises after seeing how well it’s doing. This is definitely a great deal if you’re not looking for too many advertisements just yet.
There you have it!