When looking for a way to make money on the side without having to dabble online, some people tend to ignore the giant snack-filled box in the room. Vending Machines have a reputation for being unreliable as both a source of income and snacks. But there are ways to make money off of these bulky giants if you know what you’re doing. Here are some tips for starting out.
Do your homework.
As with any source of alternate income, you’re much more likely to make money if you treat it like a legitimate job. The harder you work, the more you make. So when you’re starting out, don’t rush into things. Look into several suppliers before buying your vending machine, paying attention to prices, warranties, and size. Consider what you want to sell and make sure you buy the right type of machine to dispense those products. Talk with local businesses about putting the machine in their facilities and scope out the best location- one with high traffic.
The great thing about vending machines is that you can dictate exactly what you want to do. You can sell what you want, charge what you want, and market it how you want. Consider the location of your machine and try to market to the people who will be visiting it. With healthy eating on the rise, consider healthy but tasty options that people won’t feel guilty eating. Also, look into selling handmade goods or other unexpected items. Choose something that people will say, “Wow, I can get this from a vending machine?!” The novelty alone will result in sales. Be competitive and reasonable with your prices, but keep in mind that if you’re not making a profit, you’re not doing things right.
Vending Machines are known for constantly being out of commission. A lot of this is due to vandalism. Placing your machine in a safe location can make a world of difference. A well-lighted area where there could feasibly be cameras is best. The cameras aren’t necessary; people just need to think that it’s possible they could be being watched. If you place your machine in a business where there are often people around or a membership is required for entrance, all the better.
Stock often. Make sure your machine is in good working order. You can’t make money if it is broken or empty. Also, if people see that the machine is always out of their favorite food or not working, they will stop checking. So make a schedule and stick to it. Be consistent in your stocking and people will be lining up after deliveries.
Keep costs in mind
As with all businesses, there are expenses. After the initial cost of the machine, you will want to keep some money aside for maintenance and repairs. Also, it’s always best to start off with too much product rather than too little, so that will be a large sum right out the gate. Consider gas money used for deliveries and any other costs that may crop up. The more prepared you are, the less likely unpleasant surprises will sneak up on you.
There are many actions you can take to increase your chances of success in vending. The more machines you have, the more money you can make. Always keep a good supply of your products around so that you’re never in danger of running out. Keeping your stockpile organized in either a delivery vehicle or a room in your house. Stay organized and you will be able to make a nice bundle of extra cash.