Investing in vending machines is a popular way to earn a steady flow of income. However, this type of investment is a gamble most of the time, and requires your constant attention so you don’t end up losing money and products. If you want to know how to make money with vending machines, here are the things you need to do.
- Find the best deal. When looking for a vending machine seller, find one that offers the best deal and flexibility in payment. Would you like to pay in lump sum or in monthly installments? What are the usual delivery dates and times for supply refills? How easy is it to request for refills ahead of schedule? What are the terms of the contract?
Find a deal that easily meets your needs aside from the products you want to sell. If you can’t find a suitable company seller, try those who sell vending machines online. You can buy these at a low price; however, you have to allot a specific day to buy stocks for your machine.
- Find businesses to host your machine. If you can’t find a suitable location, try business establishments. Look for the owner of food stalls or malls and propose a business deal where they put your machine in their store and keep it safe, while you give them a monthly rental or provide a percentage of your monthly income. This is a bit hard to do as some vending machines require the use of electricity, but don’t be discouraged easily.
Unlike other investments, running a vending machine is not a passive income generator where you just sit down and wait for the income to pour in. Having this type of business requires active participation to ensure its success.