Invest In Vending Machines Business
The machine acts like a shopkeeper in a way that it dispenses goods based on price, quantity, and type. A vending is like an automated teller machine.
The machine serves the customers without supervision
Source: https://www.researchgate.net/publication/265079551_THE_COMMODITY_VENDING_MACHINE
Source: https://vendingproservice.com/chocolate-bars-prices-going-up/
Although vending machines might be costly to purchase they have numerous merits.
Technology has made it easy to save on wages and instead place a self-operated shop where cash, credit card or vouchers can be used.
Japan has embraced this technology for many years, and other countries are adopting the system.
Soon the whole world shall be automated.
This why vending machines are a good investment opportunity.
What types of vending machines are good for investment?
There are many vending machines in the market nowadays.
Here is a link on some types of the most common vending machines here in Canada
If one has a business idea in mind, this list will help you choose the best machine to invest in.
Hot drinks machines (coffee or tea) medical supplies, office stationery supply, bulk candy (chips, crisps, cookies, pastries, nuts, crackers, and granola bars) snack vending machines, toys machines, cold drinks (soda and mineral water) bill changer, milk vending machines (hot, cold or sour) fruits vending machines, and other common used goods machines.
These machines are calibrated against the standard of goods that are already in the market.
How much does a vending machine cost?
One will only incur a high initial cost but thereafter no maintenance cost is needed.
The seller offers a lifetime warranty on these machines to track the progress and for further advancement.
On average, a snack machine will cost around three thousand US dollars. Candy vending machines cost less based on their capacity.
The price varies with machines capacity, quality, manufacturing companies, and countries.
If a given machine is not available in your country, extra shipping cost and customs tax shall be added making it a little expensive than when available.
Large size vending machines costs higher than small machines.
When looking for specific vending machines, look for quality.
Quality here is the ability of the machine to work effective and efficient throughout the day without supervision.
The value of a vending machine cannot be equated to the capital needed to start a simple shop. It is relatively cheap to invest in any machine as far as it is efficient.
Is vending machine business profitable?
Like any business, the main aim of purchasing a vending machine is to generate profits.
This depends on where one is planning to establish the business.
As an entrepreneur, one should find immediate customers.
Vending machines cut the cost of employing a shop attendant, renting space, and hiring security.
All you need in order to start this business is the vendor itself, the stock of products, source of electricity and a permit.
Some area might be restricted and a permit might be useful. If the machine operates like any other shop throughout the day based on the security of the area.
This is a lot profitable because the owner saves twice or more. Saving on time and money that could have been used to employ an attendant.
The license cost is small compared to those of shops. Also, one can run both a vending machine together with a physical shop.
For example, a milk vendor and soda vending can be placed outside a supermarket. At the end of the day, you collect the money from the tellers and from the machines.
Which place is suitable for a vending machine?
The choice of location for the machine will also determine the profit margin of the investment.
Understanding the target is an essential tip in conducting business.
Knowing customers and satisfying their needs is the key to good customer relation.
Here is a list of areas where one should think of placing a vending machine:
? High traffic areas such as market entrance and exits, residential complexes, and recreational center.
? Near schools and colleges, manufacturing plants, leisure parks, and office complex where there is a lot of people.
? Waiting areas; bus and train stations, repair shops, garage, hospitals, salons amongst others.
? The location where there are few or no such products like around jails, filling stations, gas stations, motels and service businesses’ area.
Those are the potential areas to place your vending business.
Some machine requires that one must have an account.
This might be a challenge be the beginners if an individual is planning to place a vending machine where other same machines already exist. Young customers prefer the ones with high sale number to new once.
Apply any other business approach while thinking of this business.
Find an appropriate and best location that suits the business. For instance, you can?t place a candy vending machine to locations where it is rare to find children and teenagers.
Are vending machines good business?
Yes, the world is going digital.
Machines are replacing human workforce.
Already vending machines are operating in banks (tickets to clients and automated teller machines) casinos and most of the developed countries.
These machines are readily available in the international market where anyone can get them from anywhere in the world.
The machines are well programmed in a manner that they give instructions to the customers on what to do?
How to do it?
In general, machines are known to operate well under all circumstances.
Machines don?t rest like human beings. If the machine hangs up, the only thing to do is restart and all shall continue as usual.
This cannot be compared to a human character.
If the shopkeeper is stressed or tired s/he won?t work effectively and might be forced to close the business for some time to recover.
