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Is it Possible to Make Money With Vending Machines?

Category: Recent Articles  |  Permalink

Published: Thursday, September 26, 2013

Vending machines are everywhere - in stores, business lobbies, schools, public buildings, recreation centers, restaurants, and company break rooms. These ubiquitous machines must be certain money makers for their owners.  All those quarters and one-dollar bills add up to some good money, right?

 

You may have seen ads on the Internet, promoting the vending machine business. Make $200 per hour with Vending Machines!  Earn Money While You Sleep!  Money Without Working!  These advertisements sound very alluring, but can you really make money while you sleep or without working?

 

Though some entrepreneurs make six-figure incomes from the vending business, most owners fail to reach those lofty figures. Like any venture, to get the most out of a vending business, you need to have a business plan before beginning. Here are a few tips to help you make the most money as safely and quickly as possible:

 

  • Determine your budget.  Though you may need to finance the purchase of equipment, it is not advisable to extend yourself financially beyond your means. You want to make money in the business, not spend it all paying back the loan.

 

  • Decide on the type of machine or machines you want to own.  This is usually a factor of your budget, your preferences (you may live a healthy lifestyle and prefer healthy vending), and your determination of what may sell best in your area.

 

  • Determine if any licenses or permits are needed to sell in your area. Also, some states require that sales tax be paid on products sold through vending machines.

 

  • Find a supplier for your equipment. This may be part of the package or you may have to purchase the goods on your own. Know how your machines will be stocked before you buy.

 

  • Location, location, location, is not only the mantra of the real estate business, it also counts in the vending machine business.  Will you be able to cold call on businesses and locations to place your machines?

 

  • Do you have the time to restock and repair your machines.  The equipment may make you money while you sleep, but you will be doing plenty of work while you are awake.

 

  • Determine if you want to do all the work yourself, or pay someone to do it for you. For a reasonable fee, a vending machine locator will place your equipment in profitable locations. Many of them also restock and repair the devices. Vending machine placement companies are a great solution for entrepreneurs who don't feel comfortable cold-calling locations to place their machines.

 

The vending machine business offers the opportunity for independent individuals to own their own business, work their own hours, and make a decent side income or living.  Can you make money while you sleep? Without a doubt.  Will you make money without working?  Probably not, but that doesn't mean it isn't a great industry in which to make some good money!

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