Vending Opportunities and How To Evaluate Them

Did you ever take a look at all the soda and candy machines outside of a store and wonder who was raking in all the change that gets put into them on a daily basis? If you think to yourself—someone must be getting rich from all those quarters—you’re probably right. Vending opportunities can be an excellent way to start your own business, but you have to know what to look for. They abound, but the key is to choose one that will be great for your needs. Here are some tips on evaluating these vending opportunities.

The first step is to do some preliminary research and make yourself an armchair expert on the industry. Getting into the business takes some money up front and you don’t want that money to go to waste, which it can if you don’t know what you’re getting into. Once you’ve shelled out the money and purchased the machines, you’ll want to start making back your investment as soon as possible. The best way to do this is to have some foreknowledge. Look into taking a job with an existing company so you can learn the ropes. Nothing beats first hand experience when it comes to learning the ins and outs of a profitable company.

Make sure you know and have purchased all the accessories necessary to the business. You may need a truck to do the job, or at least have one to put your machines in place to begin with. If you drive a small two-seater, this could be a roadblock to your dreams. Don’t find that out after you’ve already bought into the business.

Discuss potential earnings with the company offering the vending opportunities. Don’t be misled by “sales talk”. Request honest and realistic appraisals fitting for your area. Additionally, take a close look at the equipment you’ll be purchasing. A cheap machine may save you some money up front, but it may also turn off customers. Some stores may be hesitant to allow ugly machines in front of their doors.

If you’re buying into an existing route, make sure you carefully examine the contracts in place with the locations. You don’t want to buy into a route and then find out your machines could be displaced in the next six months. Evaluate carefully how much money it will cost up front for you to get involved and weigh it against potential profits. If it will be some time before you get into the black, make sure you have savings to rely on in the meantime.