School project, operating a vending machine business. Any Advice?
I have to do a project for school, I chose to research whether or not it would be worth it to operate a vending machine business.
I’ve found out that there are several types of machines from coin operated candy machines that you can buy for less than $100, right up to machines that sell both food and drinks and accept credit cards. These range into the thousands.
I need to determine which would give the best return on investment. Is it better to spend $100 and collect a few quarters a day, or to spend $5,000 and collect more? I also need to give an overview on how I would put the machines into locations, as well as operating costs.
Any advice or ideas would be awesome.
Thanks!
I have a few candy machines that I picked up used on Craigslist, buying from other vendors who have given up is a good way to save money on start-up expenses.
I also bought a few larger vending machines Healthy Vending several months ago. ( http://www.healthyvending.com ) I have mostly organic options, something that has allowed me to start apart from my competition who sell primarily soda and junk food. Profit margins are about the same, perhaps a little better for me, but I get a lot of word of mouth advertising from my more health conscience customers.
As far as profit goes, you also need to consider time spent servicing machines. Although the more expensive drink and snack machines require more frequent visits, the payout is much much better. Given the chance to start over again, I would have skipped candy and gone straight to the larger machines, specifically the one with healthy options.
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Check out the questions and answers about starting a vending machine business on this website. It should give you enough info for your project. Good Luck!
http://www.startingabiz.com/starting-a-vending-machine-business/
References :
I have a few candy machines that I picked up used on Craigslist, buying from other vendors who have given up is a good way to save money on start-up expenses.
I also bought a few larger vending machines Healthy Vending several months ago. ( http://www.healthyvending.com ) I have mostly organic options, something that has allowed me to start apart from my competition who sell primarily soda and junk food. Profit margins are about the same, perhaps a little better for me, but I get a lot of word of mouth advertising from my more health conscience customers.
As far as profit goes, you also need to consider time spent servicing machines. Although the more expensive drink and snack machines require more frequent visits, the payout is much much better. Given the chance to start over again, I would have skipped candy and gone straight to the larger machines, specifically the one with healthy options.
References :
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