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The Complete Guide to Starting A Vending Machine Business

How to Start Your Vending Machine Business Whether you are looking for a new hobby, tired of your office job, looking for a career change, seeking a new challenge or simply desiring some extra income, there are hundreds of reasons for people to feel the entrepreneurial spirit. Starting a new business venture can be thrilling but also taxing and stressful. One of the easier businesses to start up if it is your first foray into start-ups is a vending business.
Selectivend is a vending machine manufacturer that has a few tips for entrepreneurs looking to start their own vending business. Over the next few blog posts, we will cover the basic keys to a successful vending business. Here in our first installment we will discuss the initial planning.

Initial Planning The first step in starting your vending business is to determine how much time you can set aside for the project, how much you want to invest, and what your ultimate goals are. These simple steps will go a long way in helping your business stay on track, achieve its goals and stay in business.
A vending business can be very flexible in terms of how much time you need to invest in the business and how large of an operation you need. When planning out how much time you can invest, take into account if vending will be your main job and source of income or if you would prefer to keep it as a part-time, side job. A vending business is very scalable and starting out with one or two machines can easily grow into more if you find it enjoyable and profitable. Vending machines do not require constant operators or maintenance so they will not require a lot of time out of your schedule, but there will be times when repairs are needed, inventories have to be stocked and other services that will take some time.

Take a good look at your financial situation when starting your vending venture. Figure out how much you have to spend on your business and how you can reasonably finance your machines and products. Many vending machine manufacturers such as Vending.com offer financing for machines and Selectivend even offers discounts on products to fill your machines. Many vending machines will be able to pay for themselves in a relatively short time but there are upfront costs. Make sure to read vendor’s websites and talk with them about financing possibilities.

Finally, determine your ultimate goals. What will determine “success” for your vending operations. If you would just like to have a handful of machines near your home that you can easily operate for a small income, your goals will be much different than if you wish to become the number one vendor of sports and energy drinks in an entire state.

 

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Selectivend, Vending Machines, Des Moines, IA