The benefits of a vending machine business

Vending machine business

Are you looking for a profitable vending machine business that you can run in your spare time? Are you interested in a little extra cash on the side? But do you need to keep your day job? Well we think a vending machine business ticks all the boxes.
Well there are successful businesses that you can run at the same time as maintaining your steady wage – in fact we highly recommend that you don’t give up your day job until your new business grows enough to support you and your family.  You may be worried “how do I keep my job and run a business at the same time?”, or you might be worried if you have enough time to do both jobs!
Well in that case, we need to choose carefully. It depends on whether the phone will keep ringing during work hours, or whether there are demanding customers who need to be attended to during business hours, or whether there is a long commute. The single biggest issue would have to be around the number of hours needed to run the business on the side.

Passive Income from a vending machine business

So what we need to look at is some form of business that is relatively hands off, has few customers to worry about, needs to be located close by, and can be operated outside of normal working hours so that it doesn’t interfere with your normal job.  This is where a vending machine business fits in perfectly, because it really does tick all the right boxes.

Running a few vending machines can be an ideal solution for or people looking to make a few extra dollars on the side.  Vending machine businesses are easy to manage, can certainly be profitable, and are quick to start up.

Other options – are they as good as a vending machine business?

There are lots of options to look at when we are chasing passive income.  Even though some of these can be very hands off, (or at least seem to be) there are always pros and cons associated with any venture.

Real Estate:

If we consider real estate, then this is an investment strategy that has been a great money earner for a lot of people, but is very capital intensive, and you have to wait a long time for profit.  A vending machine business makes profits right from the start, and in fact you are required to go to collect the cash on a regular basis, so cash flow is a very positive thing!

Selling products:

There is always a certain attraction to buying products in bulk, at a reduced rate, and then trying to sell at a higher price.  The attraction here is to try to substitute the “middle man” in the supply chain, and to collect the retail profits yourself.  While this can be profitable, there are increased risks associated with holding stock, and competitive pricing, and dealing with customers, etc.  A vending machine business takes away the problems of customer interaction, as the vending machine becomes the customer interface.

Managing staff:

This is the opposite of what could be considered a hands off side business!  Managing staff inevitably comes with lots of extra communications, delicate negotiations, and awkward phone calls.  The beauty of a vending machine business is that you don’t have to deal with people, and the hassle of interpersonal communications.

e-commerce:

The obvious solution to the problem of holding and distributing stock is to manage an on-line sales business, where by you don’t have to manage a direct relationship between suppliers and customers.  The problem here can be how to attract a large enough customer base to be profitable?  Again, running a vending machine business is much simpler, because you can physically see where the high volume traffic areas are, and that is better than trying to attract customers.

Internet business:

We are all attracted to the global potential of marketing to the “world wide web” with its unlimited pool of potential customers.  The ability to produce your very own on-line shop, or information product, or some other money hub can be very easy, and almost free to set up.  However, those billions of potential customers have a huge range of information thrown at them in a very crowded internet space, and trying to attract and keep those customers to your online business is subject to many variables, which are outside your control.

That’s why we like a vending machine business

If you need a reminder of the benefits of a vending machine business, lets go over the pros and cons once more so you can decide for yourself:

Vending Machine Business – Pros

A vending machine business provides you the convenience and control that you need to manage a business in your spare time.  Vending machines have been around for a long time, and customers are familiar with how to use them, and enjoy the reliability and predictability of getting their favorite snack with a minimum of fuss.

  • Vending machines are simple to manage. This is important if you need to work a full time job at the same time as looking after a vending machine business on the side
  • Passive income. A vending machine business is truly passive income that earns money while you are at work, or while you sleep, or while you go to the beach, or whatever – that sounds great!
  • Low investment. A vending machine business is cheap to get started, as vending machines cost as little as $1000 to $5000, and you can start with as few or as many as you can afford.  You can choose to lease your first machines, or buy second hand machines, or whatever model suits you best.  The main thing is that there are no insurmountable obstacles to getting started in a vending machine business!

There are no hassles with customers, suppliers, or employees.  A vending machine business does not cost a lot to get started.

 

Vending Machine business – disadvantages

There are some things to look out for when you are starting a vending machine business.   There is a time commitment with looking after a vending machine.  Sure you have to go and collect the money – that is the good part!  But you also need to keep each machine stocked and in good working order.  This may mean visiting your vending machines on a daily basis, which can be a little tedious when you have to work each day.  Some vending machines may need less frequent maintenance, so this is worth thinking about in the planning stages.

One of the biggest problems with a vending machine business is finding the best locations, and looking for vending business opportunities.  You might even consider to buy a vending machine business.  This can be never ending source of frustration if you are chasing the single “best” location for your machine.  On the other hand, we recommend that you manage several machines across a variety of locations, so that you are no subject to missing out on customers on say weekends, or after hours, or maybe there is an opportunity to place two different vending machines side by side to attract more visitors.

We have lots of ideas for how to make your vending machine business a success, so be sure to read further to gain some more insights into some of the many types of vending machines that are available, and how to find the best locations for vending machines.

 

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