In part 2 of this series (continued from part 1), I will discuss what you need to do to talk to local businesses and how to get your foot in the door, as well as which businesses are the most profitable.
3) Talk to Local Businesses
This part is easy. Once you have the machines, you can talk to local businesses in your area and let them know that you have machines that you are placing. In my experience I’ve found that while you can call over the phone and ask to speak with the owner, the process goes much smoother when you talk to the owner face to face.
The standards of the Vending Machine Business
Most people in the Vending Machine business work with a local charity. They talk with the charity and agree that 10% of their profits will go to them. Just ask if you can make a copy of the charity’s logo, and then just print it out and stick it on your machines. Most businesses you talk with will be more than okay with you letting them know that you are placing the machines to help support a local charity.
However, some business owners are looking for a commission of your sales. If the location seems like it would be profitable enough, it can be advantageous on both sides for you to give the owner up to 25% of your profit. I would first start off at 10% and not go higher than 25%. There are way too many other locations that will be willing to let you place your machines.
The Five Most Profitable Locations for Machines
1. Pizza Shop
3. Mechanic Shop
4. Barber Shop
5. Gas Station
4) Alternative Option: Hire a Locating Company
If you don’t have time, or don’t want to deal with the hassle of going in to businesses and talking with their owners, you can hire a locating company to do the work for you. But beware, some locating companies can give you terrible businesses that later will kick you out. It’s important to deal with a respectable and trustworthy company. This is why I suggest KickStart Locations. They are very helpful and have a guarantee to backup their service.
Stay tuned for part 3 of this series. I will write about the best candy choices to make the most money on your machines for each location. I will also discuss how to set up an LLC once the money starts rolling in and you have a legitimate company set up!