I been thinking about starting a Vending Biz but one of many questions I have. If I look in Sunday's paper there are always one's for sale, seems like a bad sign. But my thoughts are this if I can get enough money (which I can) to take over a few already set up routes why couldn't it make a profit?? Please if anyone has any opinion of this say anything that may help. Thinking of mostly Beveage/snack with maybe a few Bar things here and there. You thoughts are most helpful at my early stage.
Vending Machine Biz
- Thread starter Griffin8s
- Start date
it would depend on where they snack machines are located. Also it depends on what your putting in the machines. The most important thing is location.
Found a little 3 tips:
A seller of vending machines offer a number of good tips about the vending machine business :
1. Select the right product - Choose a product that offers a healthy return for your money but not too labor intensive. Consider how much revenue you can receive per location for your chosen products and how much time would be involved in replenishing your items including drive time. Study the profit margins of the product, cost of purchasing the items, capacities of the vending machines and the efficiency of servicing the machine.
2. Choose the right machine - In choosing the machine, you need to consider your product, what's available in the market, and how you will maximize your location. Also make sure that your machine will stand out from other vending machines in the location. It must impress your client.
3. Location, location and location - This is a business where the location of the machines is absolutely critical to the success of the business. The location must attract significant foot traffic. You can look for a location yourself or you can hire a professional location company.
Found a little 3 tips:
A seller of vending machines offer a number of good tips about the vending machine business :
1. Select the right product - Choose a product that offers a healthy return for your money but not too labor intensive. Consider how much revenue you can receive per location for your chosen products and how much time would be involved in replenishing your items including drive time. Study the profit margins of the product, cost of purchasing the items, capacities of the vending machines and the efficiency of servicing the machine.
2. Choose the right machine - In choosing the machine, you need to consider your product, what's available in the market, and how you will maximize your location. Also make sure that your machine will stand out from other vending machines in the location. It must impress your client.
3. Location, location and location - This is a business where the location of the machines is absolutely critical to the success of the business. The location must attract significant foot traffic. You can look for a location yourself or you can hire a professional location company.
Are you sure you want to be in a business that involves nickels and dimes?
Why not find something with a bigger profit margin?
I knew a race car driver who owned a vending machine route and he explained vending as selling Reese's Cup's that are purchased for .15 each and selling them for .75 is nice, but what he hated was the fuel he burned to get the big truck to those locations that ate up a lot of his profit - you also have to share the profit with the location - meaning the business or the factory where the products are purchased by their employees.
Find a bigger profit margin.
a lot of vending machine suppliers are total ripoffs, trying to sell a business opportunity, nothing more.
check out the company you are dealing with and make sure they don't have any complaints. google works.
check out the company you are dealing with and make sure they don't have any complaints. google works.
Follow the above advice. Do NOT call any of those 800 nos. I used to have a route. It's not
nearly as easy as it sounds. I was lucky in that
a trusted friend set me up with a legitimate
machine seller who sold the accounts in order to
sell machines. But gaining acounts is no easy task.
And let's say you get a great account, there's
always the threat of someone stealing it. That's
what I did. I was very good at service and would
still lose accounts myself.
Let me say this. Even though I am being some-
what of a naysayer, I would never discourage
someone from going into business for themselves.
The vending biz was great. But it is really hard to
get started. Okay, ask away.
Let me add this I am in good position with a Wife that has a great job with all of our family benifits come from her work. I am a Car Salesman which we are not doing as bad as most right now. But if there was ever a time to move it maybe now. I understand going and buying product and filling machine can be a lot work but that maybe why I want to do it. Not to sit at a desk all day and answer emails that never get responses or listen to these people that think we should be just giving away cars because GM is having problems. Just the grind and bullshit is getting deep.
I have a friend that works at a bar PT and knows a lot of people in the bar business which could be a way into some of those places. I have been looking at Knockout Vending for the punching bag machine that could work great in some sports bars. (Going to look into the company more before I do anything) Just I am a idiot when it comes to do I have to be a company like a LLC or INC. to start this business?:shrug: If I do how do you get that started. Where is the best place to find routes that are for sale in my area. If I want to get a small business loan how much should I start with. These are things I'm digging around to find, problem is don't have time to do it with current job and 2 kids when I get home. Also, I know when looking at ads that claim they will make you big money in no time are BS but how much could be made really.
I know if I can get started in the right direction it could make money right away maybe not tons but enough to keep going and growing. I'm a realist and not looking to be rich tomorrow with no work involved but just steady money coming in to pay the bills and maybe a little more free time.
P.S. Thank for the pointers so far and keep them coming. I read them 3 times to make it sink in and make sure I look at the avenues pointed out to me. You guys are a great help!!
I have a friend that works at a bar PT and knows a lot of people in the bar business which could be a way into some of those places. I have been looking at Knockout Vending for the punching bag machine that could work great in some sports bars. (Going to look into the company more before I do anything) Just I am a idiot when it comes to do I have to be a company like a LLC or INC. to start this business?:shrug: If I do how do you get that started. Where is the best place to find routes that are for sale in my area. If I want to get a small business loan how much should I start with. These are things I'm digging around to find, problem is don't have time to do it with current job and 2 kids when I get home. Also, I know when looking at ads that claim they will make you big money in no time are BS but how much could be made really.
I know if I can get started in the right direction it could make money right away maybe not tons but enough to keep going and growing. I'm a realist and not looking to be rich tomorrow with no work involved but just steady money coming in to pay the bills and maybe a little more free time.
P.S. Thank for the pointers so far and keep them coming. I read them 3 times to make it sink in and make sure I look at the avenues pointed out to me. You guys are a great help!!
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G8, you don't need to be Inc. to do anything. An
LLC is probably good enough. You definitely want to buy a 1-3 million dollar umbrella policy. Not that expensive no matter what you do.
Any chance you live close to the Indiana line? If so, north, south, Central?
LLC is probably good enough. You definitely want to buy a 1-3 million dollar umbrella policy. Not that expensive no matter what you do.
Any chance you live close to the Indiana line? If so, north, south, Central?
Might have had a couple of things for u to look at if u were closer to Indiana. No biggie.