Pros and Cons of the Vending Machine Business

Pros and Cons of the Vending Machine Business

One of the things that make the vending machine business a big hit is also the same thing that makes it hard for entrepreneurs. It's a business with a low barrier of entry, which means anyone with a $100 in their pockets and a business dream can start a vending business. This implies that there will be a lot of competition in this kind of business. Does this mean that you shouldn't venture into the competitive vending machine business? No, it just means that you'll have to work smarter and harder to stand out. Vending isn't an easy way to quickly get rich. You can make a decent living by growing your vending machine business slowly over several years or investing a large amount of money upfront to get started. But whichever route you choose it will not be easy. This does not necessarily mean that it can't be done, set realistic goals and do not believe the hype that some people are selling.

One of the best things about the vending machine business is that it allows you to be your own boss. You're in charge of your hours, your schedule, and how your day will go by. This can be a blessing or a curse depending on your temperament and abilities. Not everyone works efficiently when they're their own boss. Some people slack off, some are disorganized, and some don't play well with others, only you can judge for yourself whether you have the personality traits that are suited to an entrepreneurial endeavor. To be successful in the vending machine business, you'll need to have goo time management skills, be self motivated, have general book keeping skills, and some limited people skills. If you don't fit the description, proceed at your own risk.

In this business, your machines are always working even when you're not. This is generally considered a passive income stream and is one avenue to building long term wealth and security. At some point in the future, your may want to hire someone to service your machines and this is an option that can further increase your revenue streams. Vending is a numbers game; this is very true in bulk vending, but less so in full service vending. You will need a lot of bulk vending machines to make any decent money. How much is a lot of bulk vending machines and what is decent money? Consider that average bulk vending machines makes $7 per month per head, so a triple machine is expected to make 421 per month. This is gross, not net. Add in anywhere from 20%-35% cost of goods and you get a general ball park. And this is given as an industry standard for bulk, not everyone will achieve this goal.

If you're thinking of starting up your own vending business, make sure to read up on the important aspects of this business. Read articles on buying used vending machines, buying an existing vending route, the ever so famous coffee vending, coin operated machines and getting your vending machines on location.

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