2 Most Important Things you need to know when Starting a Vending Machine Business

 

 

  1. KNOW WHAT VENDING MACHINE YOU ARE LOOKING FOR

 

While a lot of people think that vending machines only come in the standard snack-and-soda variety, with ITAdish, we can customized your Vending Machine.

 

To make the most of your sales, cater your offerings to an specific location-driven market. For example, you might stock food and beverage machine at a gym with protein bars and shakes, or stock a school vending machine with juice and granola bars.

 

You are not limited to food and drinks when starting a vending machine business. Large public places like Malls, Airports, Offices, Hospitals, Schools and Arenas often have machines offering goods like tech accessories, beauty products, or other specialty items.

  1. FIND THE RIGHT LOCATION

The type of vending machine you choose is crucial, but to decide where to put that machine is the most important factor in earning a profit from your vending machine business. For example, an upscale food and beverage vending machine might fail in a strip mall full of restaurants, but that same machine might flourish in business offices.

 

When starting a vending machine business, think about the locations where you have personally purchased something from a vending machine, as well as the times when people are most likely to purchase a beverage, snack, and other items

 

Suggested location ideas for your vending machine include:

  • BPO Offices
  • Hospitals or medical centers
  • Grocery stores
  • Airports and shopping malls
  • Laundromats
  • Apartment complexes
  • Manufacturing plants
  • Schools

 

To make the most of your sales, cater your offerings to an specific location-driven market. For example, you might stock food and beverage machine at a gym with protein bars and shakes, or stock a school vending machine with juice and granola bars.

 

You are not limited to food and drinks when starting a vending machine business. Large public places like Malls, Airports, Offices, Hospitals, Schools and Arenas often have machines offering goods like tech accessories, beauty products, or other specialty items.

Cold-calling a property, talking to business owners, or visiting the place in person are few ways to get a location for your vending machine. If you already have locations in mind, reach out to proprietors, or work on getting contact information for the relevant manager. Place your vending machine in Building offices with at least 100-200 employees or considerable foot traffic, like a multi-business office park.

 

Know Commission Requirements and Prepare a Proprietor Contract

Once vending machine owner finds a suitable location, they are often required to pay the business or property where they install their vending machines.

Generally, you’ll pay the property owner 8% to 12% of the revenue from your vending machine.

However, this also depends on the size and number of vending machines you will be installing. Therefore, getting a legal assistance is highly recommended.

Remember to always draw up a contract with the proprietor stating your agreed compensation rate, contract length, and terms you have with the owner to avoid problems in the end.

Include provisions for breach of contract, too. It’s also smart to include expectations and obligations regarding servicing and restocking your vending machines, vandalism or theft, and the possibility of unprofitability. As always, have a lawyer look over the contract before signing.

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