If you are someone that wants to get the ball rolling as an entrepreneur like I was and you don’t have a lot of cash stored up to do start-up, I suggest starting up your own Vending Business. The amount of money you can make in the vending business is unlimited. You only need to check the machines once a month, and each machine can easily make you $15-20 a month or even more. At one point, I was making $700 a month doing 7 hours of hard work 2 days a month. That’s equivalent to $8,400 a year just for working hard 24 days a year!
The Vending Business is perfect to do on the side if you have a full time job, or if you are running a separate business because checking the machines is flexible and you can do it on your own time. I have broken everything down into a step-by-step process of exactly what you need to get yourself started. Once you understand these basics, it is possible to turn this business into your main source of income if you so choose.
There are many different areas of vending that you can be successful (Candy, Beverages, Toys, etc.). The one that I am going to focus on is the cheapest and fastest way to break into the Vending Business, which involves Candy and Gumball Quarter Machines.
There’s just six simple things that you need to know to get yourself started:
1. Buy USED Machines
2. Make or Buy Labels
3. Talk to Local Businesses
4. Alternative Option: Hire A Locating Business
5. Best Candy Choices
6. Form an LLC
I am going to cover the first two steps in this blog post. Please subscribe to my blog and the next steps will be added later this week.
1) Buy Used Machines
This is the most important factor in having a successful Vending Machine Company. Used vending machines are much cheaper than buying new, and the goal when you are starting up is to overcome the cost of the machines and start turning a profit. This took me less than 4 months. If you buy new, it might take a year or more before the machines were paid off.
The best place to find used machines is Craigslist. All you have to do is type in ‘Vending Machines’ or ‘Candy Machines’ and you’ll get 10 to 20 results. The key here is to look through the results and find a good deal. After about a week of looking when I first started, I was able to get 10 nice machines for $40 each.
What to look for
The machines that I look for are called double head or triple head machines. They can dispense 2 or 3 different types of candy, which can double or triple your selling power with one machine.
How to get a great deal
There are a number people selling their machines because they came into the business the wrong way. They spent way too much money on their equipment (some as much as $300 per machine! Ouch). They became discouraged because they weren’t seeing a return quick enough. Instead of admitting their mistake and pushing through the toughest part, they chose to give up. While this is unfortunate for them, this is an advantage for us. Most of these individuals are so frustrated that they just want to get the machines off their hands at any price. They are almost giving them away. This means that you have some leverage and can talk people listing their machines for $60-80 down to somewhere in the $35-50 price range. I would not recommend paying any more than $60 for a machine. Just keep looking around on Craigslist and making calls and soon you will find a deal.
2) Buy Or Make Labels
Making labels is easy. You can just find pictures of the candy online, print them out, and tape them to the front of the machine. For a more professional look, you can buy the stickers online at any website. Just repeat this process with all your machines and then they will be ready to go.
This is enough information for you to get your feet wet in the Candy Vending Business. Keep checking back and subscribe to my blog as I will continue providing helpful information and answering any questions.