If you are looking to start your own vending machine business, you might be wondering how much this is going to cost you. What seems like a simple process that leads to big income might be more expensive than you think initially. You will have to buy the machines, buy the product and in some cases you might even need to hire help to get the machines to their locations.
There are also other basic business expenses that you will have with any type of business that you start and it’s just the same with a vending machine business.
However, a proper business plan and some smart planning and knowledge on your part can keep your expenses to a minimum so that you have more profit rolling in.
Beware of Scams
It’s also very important that you are cautious of vending machine business scams. A good general rule is that if it sounds too good to be true, it probably is. There are companies out there that try to promise you that with one small investment of x amount you can become rich from your vending machine business. Many give you the impression they want to hire you as an employee when in fact, they are just selling you machines that you then have to figure out what to do with. Always get all the facts first.
The Machine
Your next cost consideration is going to be the actual vending machines themselves. What kind of machine you get and also how many you get will determine the costs. Some other costs involved will be in what type of features you have on your machines.
For example, machines that take different forms of payment such as those equipped to accept credit cards may be more expensive but pay off as an investment since more people are able to use them. Machines that cook mini-pizzas, dispense hot coffee and cocoa and similar are also sometimes more expensive than a regular soda vending machine or gumball machine would be.
The Product
Next to consider in the costs of your vending machine business is the price of the product. You will likely order your product from a distributor or a wholesaler. Who you buy from can also vary according to what the product is. Name-brand products tend to come straight from the manufacturer whereas generic thing like candy or gumballs might come from a wholesaler.
The price varies as well according to the product and how much of it you buy. Often you can get discounts on large quantities or regular orders.