If you have been looking for a new business opportunity that requires no special skills or training, can be done part-time and/or as a home-based business, and can get your whole family involved, you may have just found it. How about starting a vending machine business?
According to U.S. statistics from Brandongaille.com:
Vending machines average over $7 billion a year in sales.
The snack and vending machine industry generates over $64 million a year in profits.
The vending machine business is mostly cash-based—three out of every four vending machine transactions are in cash.
There are an estimated 4.6 million vending machines in the U.S.
56 percent of vending machine sales were for cold drinks, including soft drinks, juices, water, etc.
Just in case you are thinking of vending machines as mere dispensers of chocolate bars and soda pop, think again:
Healthier snacks outsell traditional snack foods by 300 percent. In fact, some locales have legislation in place to mandate healthier choices in food/drink vending machines.
The newest pizza vending machines can deliver a pizza cooked to perfection in under three minutes, with a choice of three toppings.
Vending machines in Beverly Hills malls dispense gourmet delights such as caviar, escargot, and bottarga.
Other advantages of a vending machine business include:
Scalability: You can start with a few machines and expand your business as time and finances permit.
Low Startup Costs: Aside from purchasing the machines (which can be financed), your capital costs are relatively low (you don’t need building or office space—some space in a garage, utility room or basement is sufficient). Other than a vehicle to service your route, no other equipment or machinery is required.
Simplicity: Once the machines are in place your only duties are to maintain and restock the machines as needed and collect the money.
All Cash-Based Transactions: There are no “accounts receivable” as in most businesses.
Flexibility: The vending machine business is ideal for families. Your spouse and/or children can easily be trained to assist with purchasing, stocking, bank deposits, accounting, etc.
Aside from a little startup capital or financing, the only other requirement is a reasonable degree of physical fitness on the part of whoever is servicing the machines, as it involves a fair amount of walking and hauling of products (especially heavier ones such as drink cases).
If you’re thinking that this is the right business opportunity for you, here are the steps to follow to start your own vending machine business.