4 Tips for Buying Vending Machines
Starting a vending machine business is something everybody can start even with limited capital. However, while maintaining a vending machine business can be lucrative, many people make mistakes when buying their first machines that could be easily avoided. In this article, we’re going to give you a few tips on how to buy your first vending machine the right way.
Don’t assume that you have to buy new machines to get started. Consider buying used machines if you’re on a limited budget. However, you have to make sure that they’re inspected first.
You could go on a site like justnowvending.com.au to find some vending machines for sale for far less than retail. You might be able to find entire routes for sale, with or without machines. In some cases, if you buy the route, you may be able to convince the seller to part with a few machines while leaving you to buy the remaining vending machines.
Consider the Customer Experience
Buy vending machines that suit the customers they’re intended to sell to and that contain products customers actually buy. For example, vending machines selling stickers, toys, and candy need to be simple enough for children to operate while being safe for them to use. If they fail this, you lose sales or have the business owner demand it be removed. Vending machines have to offer a smooth buying experience for adults as well. If it is difficult to get the product out of the machine, you may not get repeat business.
Test machines that you’re considering buying and don’t forget the bill acceptor. Plug used vending machines into a power source, and make sure they actually work, especially the bill acceptor and dispenser. When shopping for machines, look for issues with the machine that would deter people from using it like broken buttons and temperamental switches. This is why you should try to buy machines in person, especially if they are used.
Spend time in areas with a lot of vending machines to see which products customers are buying in volume and which machines they’re avoiding.
Factor in the Whole Supply Chain
Vending machines are a way to reach customers ready to buy the item. While you have to consider how easy it is to use the machine and how well the vending machine sells the product, you also have to take your own supply chain into account. How much will replacement inventory cost? How easy is it to refill the machine when you sell out? How hard is it to maintain the machine or get it repaired when it breaks? When you’re shopping for a machine, especially a used one, ask how often the machine breaks down and what types of problems it has.
Buying a vending machine is the first step in owning a small business. It is something you can do to generate supplemental income. Start off with one or two machines. This allows you to service the machines while still working a full-time job and learn how to manage the business. Gradually work your way up to a larger number of vending machines. As you get the hang of things, then you can start adding more machines of the same type or those offering new products.
Vending machines provide a proven business model for earning income. However, you need to take steps to avoid making mistakes that can create headaches at the literal expense of your profit margin.