The beauty of having a vending business is that you are basically your own boss. It is a great way to earn money with minimal effort. You can set your own hours, no business suit. All you need to do is to regularly monitor your vending machines to make sure it is fully stocked with the products you offer and that they are working properly. Of course you need to collect your earnings as well as add change to the machines if necessary.
The next step to running your vending route is to increase your earning potential. One way to increase profits is to expand your vending route. Below are some ideas on how you can do this.
- Increase the number of machines. Add one or two machines in each of your vending sites. Choose to sell products or offer services that will complement your existing machines. For example, if you own a DVD rental machine, sell chips, soda, and other edible treats that would be great to munch on will watching a movie. Vending machines that sell sandwiches and other hot foods should always be paired with a drink machine.
- Update your existing machines. If your machines just sells snacks like chips, pretzels and chocolates, trade it in for a combo machine to include drinks (both soda and water). If you notice that you have to refill your machines often get bigger vending machines so you can save gas and time on extra trips. Upgrade to more hi-tech machines that not only look cool but also have bells and whistles that can attract more customers. Consider talking vending machines, touch screen machines, options to see your products’ ingredients or nutritional information, cashless machines that accept debit or credit cards and more.
- Look for new places that may need vending machines. Scour the neighborhood for stops that can benefit from the types of products and services you offer through your vending machine. Place a newspaper vending machine at the entrance of a public park where people go to relax on park benches. Put change machines near bus stops.
- Find existing vending routes for sale. Check online for vending locations for sale. Visit these locations to evaluate whether these are high traffic areas and pose no security issues. Spend time in these locations just to see if the people who frequent these places actually purchase from vending machines. Consider hiring another worker to take care of your expanded route in case you cannot handle it by yourself.
- Advertise! Distribute flyers and leaflets to let potential customers know the location of your vending machines. Make sure to include a list of products or services you offer. Include a photograph or two of your machines at their locations. Your contact information would be helpful to potential customers who want vending machines in their places of work. Post flyers in free community messages boards. Advertise on the Internet as well. Use social networking sites to announce new vending routes, new products or updated machines.
Having a successful vending business is like a dream come true for most people: own hours, no overtime, no boss, casual clothes, minimal to no direct customer interaction, great earning potential. As is any business, expansion is the next step. With a vending machine business you have several ways to increase your profits. Add new locations, buy existing vending routes, increase and upgrade your machines, add more product lines. By expanding your vending route, you can easily increase your earnings exponentially. Best of all, it’s a fun way of doing business.