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How much will a vending machine cost?
The largest cost of owning a vending machine is almost always the initial investment in the machine itself. Most new vending machines will cost anywhere between $2,000 and $6,000, or even more. The used vending machines here at Westway Vending offer the same quality as new machines, but they are significantly cheap, usually ranging between $700 and $2,000.
Can my business support a vending machine?
When you are purchasing a vending machine for a business, or any location for that matter, you will need to take into consideration that amount of traffic that area receives. For a business, you not only have to think about the number of customers that come to your location but also the number of employees at the area.
For a vending machine to make significant profits, it is usually recommended that you have at least 40 employees at the area or a high amount of customers. Luckily, your vending machine can still be profitable with much lower numbers but it won’t be a significant source of income.
What are the different types of vending machines?
No matter what you want to sell, you can more than likely find a suitable vending machine. The most popular options are drink vending machines, which can come in a variety of different formats, and pre-packaged snack vending machines. Drink vending machines will almost always sell cans or bottles, but you can also find specialty machines that vend coffee, hot chocolate, or expresso. Some vending machines are also refrigerated and can serve fresh food, including salads, sandwiches, and sometimes even ice cream and frozen food.
Where are the best locations for a vending machine?
The most important thing to consider when choosing a location for your vending machine is the amount of traffic that specific area receives. Even if the general location has a lot of people passing through it every day, your vending machine isn’t going to get a whole lot of business if it is tucked away into a corner. Make sure that it is in a highly visible location that receives a good amount of foot traffic.
It is also preferable that you place your vending machine indoors. This will not only extend the life of your machine, but it will also decrease the chances of vandalism. Outdoor locations will work if necessary, but it is important that you place your machine in a well-lit area that receives a good amount of traffic and that has some sort of protection from the elements.
Where can you purchase vending products?
Where you purchase your vending products is mainly going to depend on how many machines you operate and the number of sells these machines are making. A quick search in Google will reveal plenty of different sites that will allow for you to purchase supplies for your vending machines. If you live in an urban area there is also a high likelihood that there is a supplier near your location. The one thing to keep in mind with these suppliers, though, is that they generally sale items in massive bulk quantities. This will increase your profit margin, but you will also need to be wary of expiration dates since any unsold items will cause you to lose money.
If you only have a single vending machine, you might want to consider using a Bulk supply store such as Costco or Sam’s Club. These stores sell items cheaply enough that you can make a healthy profit, but they also sale their items in appropriate quantities for those who only have a single vending machine.
What is the profit margin for drinks and snacks?
This completely depends upon where you buy you are buying your supplies and your selling price for these items. We’ll use canned drinks as an example. At many bulk stores you can find canned drinks for a price of 0.30 per can. Most machines will then sell the cans for $1.00. This ends up giving you a gross profit margin of 0.70 per can, which can easily turn into an easy $100 gross profit every month if you do nothing more than sell 5 cans of soda every day. Just think, that’s over $1,000 every year that required maybe an hour of work every month.
Do I need to pay a fee to place my vending machine at an off-site location?
No matter if you want to start a vending machine business or simply make a bit more money away from your current business, placing a vending machine at an off-site location is often a great option. The main question associated with this process is how much will it cost. Well, like most things, it depends on the location.
There are some places that will allow for you to place your machine in the area for free, while others may charge a certain fee or want a small percentage of the profits. It is also common to find locations where the owner will have you donate a certain percentage of your profits to a charitable organization or a local cause. Regardless, it is still more important to gauge the amount of traffic in the area and how many sales you will make, since even high fees can be acceptable for a truly great location.
How long does it take to restock a machine?
This can be a fairly quick process if you are organized with your supplies and how you place things in the machine. Even if you have a large amount items that need to be replaced, you can still fill an entire machine in less than 15 minutes with ease, as long as you are organized.
Do I need a van or truck if I have vending machines at multiple locations?
This all depends on how many vending machines you actually have. Many people will only purchase a few vending machines for a couple different areas and then think that they will need a larger vehicle to transport all of their supplies. In most cases, this can end up being a waste of money when you are just getting into the vending industry. Any vehicle will usually have enough room to carry all of the supplies for a few vending machines. Even if you do operate multiple machines, you can just do refills more often instead of purchasing a new vehicle.
How long will it take for me to make a profit?
The initial investment in a vending machine can be daunting for many people, which has them wondering how long it will take for them to actually make a profit and recoup their expenses. A good way to check how long it will take to make a profit is to use the profit calculator that we have created. This tool will allow for you to easily calculate your gross profits over a week, month, and year. Keep in mind that these are the gross profits, so they don’t include any expenses associated with location fees, expired products, and utility fees. Still, with our low cost vending machines and a healthy amount of traffic you can expect to make a profit off of your machine within a year or two. After that, you will be making a nice profit for almost no work.