Monday, October 16, 2017
How to start a vending machine business
How To Start A Vending Machine Business
http://thewealthbuilderz.com
Whats good wealthbuilderz its yah boy
DeVaughn back again with another video
and today we are talking about building
a business off line
I know I know I mostly speak on
building business's online
but I'm starting a new video series
where we talk about how to build
specific types of business's offline
or online and today we are talking
vending machines... lets go!!
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 used to mostly cash-based
but now it seems to me that
they are doing my card based transactions
Since we are a card based society its only right
that vending machines are more card based
Here are some more statistics
if your thinking of starting your own vending machine business
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.
And if you are thinking of vending machines as just chocolate bars and soda pop,
think again my friend
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.
So yeah its alot of upside to starting
a vending machine business.
So now you know the upside
how do we get the ball rolling
1. Find a Location
Now this step is interchangeable with the 1st step
you can secure a location. Get the contract signed first.
Most people would buy a vending machine first
but you don't want to have a vending machine
stuck in your garage and have no money coming in.
2. You need to purchase a vending machine
You can go to americanvending.com
and check them out. This would
be a great resource for anyone looking to start
home based business for vending machine.
You can have the machine sent directly to the location
its to be placed at you wouldn't
have to worry about delivering it yourself.
3. Buy Inventory
Now this is where you need to do your research
You will need to know what type of crowd
your dealing with at the location your vending machine
is serving.
For instance if your vending machine is in
a loaction where there is a gym
You might not want to put just junk food in the machine
4. Set Up A Website
Once you have 1 or 2 locations
You will need to have some typw of website
for your future customers can find you
and learn about what services you offer.
5. Customer Service
You should buy a 1800 number of some sort
thats so you can place that on your mmachine
just incase someone has a complaint
or the machine breaks down.
Don't worry the cost of a 1800 number is less then
$20 a month and you can forward it to your own cell phone
if your still in the beginning stages of your business.
6. Get A LLC or sole propiertorship
You will need this for tax purposes
So after you get your first location
and purchase that vending machine
this step has to be completed.
So there you go 6 steps
on how to start a vending machine business
Thanks for watching my series on how to start a business
it could be home based or online
I break it down the best I can in these video series
if you want more of these type of videos
from me
then click the thumbs up and subscribe
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