Updated: Mar 20, 2022
Do you want to find a business opportunity that allows you to be your boss? Have you always been intrigued by the concept of a vending machine business? If so, then you need to learn all that you can about what to look for when buying a vending machine.
Doing so can help you maximize your income potential. It will ensure the perfect business opportunity by getting you in touch with a vending machine model you believe in.
See below for an in-depth guide on what to look for when buying a vending machine and the types of questions you should be asking.
1. What Opportunities Are There to Get Involved?
Perhaps you've heard about the potential of a vending machine business but have no previous experience in the industry. Maybe you aren't convinced that starting an entire business is the right choice for you.
Whatever the case might be, it's always worth learning about the different opportunities you might have to invest in a vending machine. Here at BabyVend, we have four ways you can join our team:
Machine Operator: Become a certified vending machine technician and learn how to set up, maintain, and fix vending machines; get involved without being an owner.
Machine Owner: You own the machines, you build your business. We'll train you on all the essential aspects of creating a vending machine business that will thrive.
Site Host: You provide the location, we provide the vending machine. Provide an amenity for your customers/tenants while simultaneously joining our growing team.
Product Partner: You provide the product, we'll put it in or on our vending machine. We offer opportunities for advertising your products or putting a product into the machine to be sold.
There's more than one way to bake a cake, people! We're confident that one (or more) of these opportunities can benefit your situation.
2. What Types of Vending Machines Do They Provide?
You say you want to buy a vending machine, but have you put any thought into the type of vending machine you wish to own? This offers an entirely new look into your business's mission.
There are many different types of vending machines out there. Some of the most popular ones include snack vending machines, beverage vending machines, specialty vending machines, and bulk vending machines.
The first two are pretty self-explanatory, but you might be confused about the other two. A specialty vending machine typically focuses on specific niches, such as vending laundry products at a laundromat or hot coffee options at an airport for those that are in a hurry.
A bulk vending machine, on the other hand, is stocked with bulk items (such as candy or rubber bouncy balls) and requires very little maintenance.
We at BabyVend have another group in mind without vending machines: families. We want to give families access to the items they need when they're in a pinch. Anything from family-friendly snacks to baby essentials can be accessed with our conveniently-placed machines. There's no other machine out there like them, providing a huge potential for revenue!
3. Where Should I Put My Vending Machine(s)?
Your vending machine business will only be as successful as the locations you place them in. Since our BabyVend machines are targeting a niche group, for example, they have to be put in a place where families would require the products inside.
Foot traffic is a huge measuring stick for a vending machine's profitability. You generally want to aim for places with over 100 people (ideally more) each day walking past them. That can easily lead to you receiving $400 per month in sales per machine.
You also want to find locations with minimal competition for your niche. For example, placing a food vending machine next to a restaurant is a recipe for disaster (pun intended). Instead, head for open waters; look for opportunities in places like:
Rest Areas & more
4. How Can I Set Myself Up For Success?
Vending machines fit quite comfortably into a business budget compared to other business ventures, but that doesn't mean you want to invest blindly.
How can you ensure you're making an informed decision? Where can you turn to for the experience and direction you need for your company to flourish? We're here to help you get up and running!
Our Founder and CEO, Jasmin Smith, is dedicated to helping aspiring entrepreneurs. We have programs designed to help you create a profitable vending machine business model.
5. What Type of Maintenance Will They Require?
Just like any other form of equipment, your vending machines will need routine maintenance to ensure they work when customers need them to.
If you're purchasing new vending machines, then they can go a good length of time without requiring a single repair. That said, maintenance is needed to ensure longevity.
We can help you there as well. Our training includes an extensive class on machine operation management so that you understand what it takes to keep them running. Vending machines can last up to 10 years or longer with proper upkeep; imagine the return on that initial investment!
Invest in the Right Vending Machine for Your Business Today
Now that you have seen a list of things to look for (and questions to ask) when buying a vending machine, be sure to use this information wisely.
Take the time to read our article for more information on how to start a vending machine company as a home-based business. For more inquiries, please be sure to call us directly at 907-929-VEND (8363) and we'll be happy to assist you further.