Running a vending machine business can be a lucrative and exciting opportunity for entrepreneurs. Getting a vending business started usually has lower costs than conventional businesses. All you need to do is buy the machines and supply the products. However, like real estate, location is everything. You will need to find high traffic locations for your vending machines such as beauty parlors, tattoo retailers and large car dealerships.
Items you will need
- Yellow Pages phone book
- Contractual agreement
- Vending machines
- Products (Snacks, drinks, other items)
- Truck or hauling unit
Get your local Yellow Pages phone book. Go through the headings and mark some of the high traffic businesses where you can potentially place your vending machines. Stay within a 15-to 20-minute radius of your home.
Get out a notebook and pen. Start calling these businesses. Ask them if they have vending machines at their sites. If not, tell them about your machines. If they are interested, make an appointment to visit their location. Continue calling businesses until you have an ample number of businesses in which to place your vending machines.
Visit the business locations. Work out an agreement where you pay them a set fee or percentage of your sales. (See Resource 1.). Keep the percentage at 10% to 15% or under. Have them sign a contract that covers their commission or fee, then tell them when the vending machine will be delivered.
Continue visiting your list of businesses until you have enough locations secured for the number of vending machines you own. Apprise these businesses of the delivery date. Make sure you write down the owner's name and phone number and keep these numbers available in your car or cell phone.
Rent a truck or hauling unit. Get assistance if needed for the delivery. Deliver the vending machines to the businesses with the products. Tell the business owners which day you will return to restock their machines.
Do not always volunteer to pay a business for allowing you to place your machines, especially if they are eager to have one. Use your persuasive skills. Work out the best deal possible. If a business wants too much, walk out. You can also use a professional locating service, but make sure the locator has experience. Also, go around with the locator when he selects locations. Make sure you are satisfied with all locations he selects. (See Resource 2.)
Do not allow the vending company from which you bought the machines to secure your locations to avoid potential scam artists. Also, stay away from high crime areas where theft may be an issue.
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