Is The Business of Vending Machine Profitable Business?
I was searching out for the Business of Vending Machines that is the Business of vending machine profitable. What are the points, i mean how to start this business? i am waiting for your answers anxiously. Thanks...12 months ago - 3 answers
You need to find the right equipment, meaning vending machines. The best way to do this is to either search for vending machine manufacturers or wholesalers. You can search for used equipment on EBay, craigslist, and your local newspapers. Either purchase the equipment or keep track of how to get a hold of it until you have a location to set it up in.
Most obvious locations are already going to have vending machine service. That doesn't mean you shouldn't look into it. Start by creating a list of the kinds of businesses or locations that would have enough traffic to justify having a vending machine. I would start out with laundry mats, small offices, gas stations, corner stores that aren't open 24/7; the only limit is your imagination.
Either use your local phone book or an online business directory and get the name, address and number of every business that falls into the categories that you created. You can call or create a letter asking if they would be interested in letting you place vending machines at their location. Be specific in your letter. Include what type of vending machine you want to set up, the power requirements, the locations liability for the equipment, and any compensation you will be offering.
These locations will want some type of compensation for allowing you to place vending machines on their property. I suggest you either offer them a percentage of your monthly profits from their locations or you offer to rent the space for a set monthly fee.
3. Create a business plan:
Now that you have a number of locations willing to allow you to place vending machines, and a general idea of how much it will cost to purchase the vending machines, use that information to create a business plan. There are several sources available for creating a business plan. I recommend you start to the SBA, Small Business Administration, and talk to a few of their specialists. Apart from the SBA there are a number of books and software programs available that make the process easy.
The SBA is a great resource for anyone trying to start their own business. They can walk you through each step of the process from creating your business plan to finding loans to purchase equipment, obtaining insurance for your equipment, and even finding investors to help you finance. If you are serious about starting a small, or part time, business you need to make contact with the SBA.
4. Find financing:
Once you have a solid business plan put together you will know how much money it will take for you to get this venture off the ground. You will use your business plan to show potential investors how and where their money will be spent. Even if you plan on financing the entire project yourself, create a business plan. It will help keep you on track.
If You Want More Information about It Visit the site I Suggest you.
Source(s):12 months ago
only if u work hard at it the first 3-5yrs.
visit library for books on business to read.
Source(s)by Rob - 12 months ago
They can be but don't expect easy cash or quick riches. Finding the right distributors, product suppliers and locations takes a lot of work.
Then you need trucks with lift gates and dollies to move the equipment, you need a schedule to fill and collect each, plan on getting calls anytime 24/7 with reports of failures and refunds needed. Forget vacations (you need to be available all the time unless you hire people).
You then need to understand that the location gets a cut of every dollar made, they will always ask for different products, newer machines and better service.
Also machines get broken into, it will cost you to repair them as well as losing the product and money that was in it at the time. You need liability insurance in case someone hurts themselves on your equipment (we got sued when a guy cut his hand by breaking the glass while breaking into the machine to steal).
But yes you can make a living with the right equipment, product and location. Or you can go broke if you are missing any one of the 3.
Source(s)by tmorris - 12 months ago