| Oct. 11 2008 at 7:57 PM |
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Anyone have experience in the vending machine business? I just got home from the store when I noticed two kids freaking out at mom until she handed them 50 cents each so they could get a cheap toy. I am doing some hunting online right now but if anyone has any experience let me know!
Motion Creates Emotion
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| Oct. 12 2008 at 10:22 PM |
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I have not had a vending business but I know a friend who did. He hired a firm to help him place the machines at great locations and had a miserable time. I'm sure he'd like to sell the machines, they were in his garage last I knew.
If you do move forward, try odd locations like doctor's offices. Our kid's dentist gives them a tolken if they are good for the checkup and they can get a toy from the machine. You'd just have to basically sell the toys to the doctors and maybe they can help make sure it is stocked.
Tracy
Tracy Barnhart, Owner
Giverny, Inc. / Mini Me Geology
http://www.GivernyOnline.com
http://www.MiniMeGeology.com
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| Oct. 19 2008 at 6:30 PM |
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Unless it is an untapped niche or market, getting into the vending business is tough. I have known several people try to start one from scratch in our area without much luck. Our market is saturated. In this instance, the best way in would be purchasing an existing route.
You may be interested in a niche vending businesses for better success. I know of one in my area operated by a friend that does well. It is called "Honor Snacks". This is a custom made cardboard box is placed at local business break rooms. Since there is not mechanical unit, payment is on the honor system. You fill the custom made box with 40-60 snacks, and customers pick out their purchase and drop the payment into the built in "piggy bank". Even if you are occasionally a little short changed, it still is very profitable. Start up costs are much cheaper. No hassle with electricity, jammed coin receiver, mechanical problems, etc.
Good luck in your endeavors. Let us know how things work out.
Edited by: GreenChipInvesting - Oct. 19 2008 at 6:34 PMLand of Guru
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| Nov. 09 2008 at 11:50 PM |
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this is a volume based business...much like a gas station. you don't make much on a per gallon sale...or a per vending machine sale...but collectively you make a respectable living. that said there is a lot of headache you must be willing to deal with. someone has to maintain those (customer service)...stock them up, etc. its not as simple as buying it and parking it and collecting cash from it. there is a lot of work that goes into it.
if you are determined to get into this, consider buying used machines. better yet, look for existing vending businesses being sold. this way you will have some numbers to work with. make sure they are audited statements...or do your best due diligence to validate the numbers.
overall it is a saturated business. as greenchip said if you have a distinct product you may be able to set yourself apart. but you still have to deal with the product management, maintenance and other issues. for something like this it would make most sense to talk to someone already in the business. read online on forums and discussion boards about people's experiences in this business.
ideally, a good way to run your business would be to own several of these and hire a full time "manager" to conduct the management and maintenance. you will have to do a cost benefit analysis to see if this can put $$$ in your pocket at the end of the month since you have to pay someone regularly.
it's a tough one you've picked...but i am sure it can be worked..
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| Nov. 29 2008 at 2:03 AM |
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I did have a good friend that started a vending business years ago when we graduated high school. It took him about five years of hard work and lots of spoiled candy to finally pay for the machines and by then he was done with it...I'm sure if he could do it all over he would have chose a different path.
But scope out your local market and determine if there is a real need before making your final decision. Chances are there is already a vending machine at every decent location.
Best of Luck
Sales Executive
Financial Destination Inc
Save Money, Make Money, Create Wealth
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| Dec. 05 2008 at 2:38 PM |
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I have known several individuals who started a vending machine business and who were quite successful with the correct geographical area and market defined. They did a lot of research, but more importantly, had GREAT employees. After all, you need people you can depend on, delegate and trust. Especially if those folks are working in the field all the time, which of course, they would be.
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