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We already know that the global vending market is poised for massive growth over the next few years. So whether you already have vending machines on your premises or multiple properties, or you are considering investing in a vending option, there are a few best practices. Take it from us, we’ve been in the business for over twenty years! So we wanted to pass on some of our tips to making the most out of your vending machine with increased profitability.
To make the most sales, cater your offerings to a specific, location-driven market. For instance, you might stock your food and beverage machine at a gym with protein bars and shakes, or stock a school vending machine with juice and granola bars. You may think of soda and chips when you think vending machine, but there is money to be made offering equally convenient healthy alternatives people want—and will pay for. Starting a vending machine business with machines that stock gumballs, stickers, or rubber balls—also known as bulk vending—requires very little capital and low maintenance costs. These typically low-maintenance vending machines might not be glamorous, but the quarters do add up. A refurbished vending machine could cost you less than $50, and bring in as much as $30 per month. The products you’re offering have incredibly low overhead. In the right market—like a school or amusement park—this modest investment offers the potential for a reliable, passive income source. Most bulk vending machines are mechanical devices and don’t require electricity or battery power to operate, which means the cost of operation is low to nonexistent. That said, many candy and toy vending machines are older, so a used device might require minor repairs before it’s functional.
Premium vending machines provider Let’s vend review! Let’s Vend and MoBeauty Supply Vending partnership in vending is taking the US by storm. Our specialty is vending via the most innovative machines offering snacks and beverages, beauty vending, lockers, micro markets, gift vending, and more. Our new custom machines will be a great addition to any location all while creating a hands free revenue stream at no cost to the location! Our corporate team will work directly with the local operators in your area to place your machines.
You can also try visiting your local Chamber of Commerce. They can give you information about major businesses in your area, which might give you some ideas for potential locations. Ideally, try to place your vending machine at companies with at least 100 employees or considerable foot traffic, like a multi-business office park. If you already have locations in mind, reach out to proprietors, or work on getting contact information for the relevant manager. Talking to prospective partners about location needs can help you get a better understanding of local demand and inform your vending machine and product selection.
How? The Full-Service Vending Program comes at NO COST to you. Let’s Vend provides you with high quality vending machines stocked with your choice of drinks, snacks or food! Our Operators will stock and service the machines as needed, and you earn a commission off your vending machine sales. At Let’s Vend and MoBeauty Supply Vending, we focus on administrative guidelines that thrive on quality customer service. Depending on the scope of machines to be placed, we will provide an operational timeline for installation. Our corporate team will work directly with the local operators in your area to place your machines.
Besides the machine itself, you’ll also want to consider the cost of inventory to stock your machines. Depending on how many machines you plan to own and what kind of inventory you’ll stock, this could span a few hundred to thousands of dollars. How much do you need? Any advantage or insight you have on vending machines is a great way to get in on this niche business. For example, if you’ve already identified a need for a snack machine near you, reach out to property owners you know and gauge their interest in placing vending machines at their locations. But even without personal connections, you can start a vending machine business—and make money doing it.