We all use them from time to time: Vending Machines. Entrepreneurs are taking things to the next level by investing in them and creating their own Vending Machine Service Company. They are building their own brand and want to be known for their reliable service. Making sure that every machine is working when customers need them the most, and restocking all the locations. The goal of these businesses is to serve the customers who may use the machine in ‘high foot traffic zones‘. From Warehouses to Airports, you can always rely on these Vending Machines which offer the most recognizable brands of snacks and beverages. In this post I will explain the basics of this business model, and the steps you can take to start your own Vending Service Company.
All about the Location
The first thing that needs to be done is finding a location. Finding a location where you are planning to place the Vending Machine, and where you are going to serve your customers comes before acquiring the machine itself. The fact is that statistically, the more people walk by your machine, the more products it sells. So foot traffic defenitely matters.
An other thing of equal importance is the question if there is any demand for this kind of service. Are there a lot of stores and restaurants around, or can this location use a good Vending Machine? Researching the locations is a must. You can research them by estimating the daily traffic, interviewing business owners and by holding local surveys where customers answer whether they need a vending machine at all. After finding a good location for your business, you need to sign a contract. Get all the legal stuff done with the help of professionals, like creating a company and finding the perfect structure for your business. Making a roadmap of further plans may be helpfull. Remember to always seek legal assistance and have your own team of experts advising you. After that it’s time for step 2.
Securing the Vending Machine
The next step in starting your Vending Machine Service Company is deciding if you want to rent or buy the Vending Machines. There are different companies that make them, and every Vending Machine brand is unique. While all Vending Machines do the same thing, the quality and functionality may differ per brand and per edition. You can rent a machine from companies that specialize in reselling, often with a bonus of having the machines installed and delivered at your locations. But be sure to compare every company and to do your research before you make any investments. Good research and a thorough understanding of the business is half of the job.
Give Identity to Your Vending Service Business
You will be running a business that is heavily focused on providing services to customers. The service of creating opportunities to buy snacks and beverages from amazing brands. So the third step is marketing your brand. What is a brand? A brand is the feeling that people get from interacting with your company. If your Vending Machines Service business is known for having all their machines up and running most of the time, and having good stock, you are making your first step in building the image of an amazing company. Create a logo and the overall appearance of your business by having your own website where people can contact your company if they have questions and requests.
Buying inventory
The last step is buying the products for the Vending Machines. Research which brands and products sell quickly and what type of products do well in your area. You can find a lot of information about products on the interent.
Additional points
What can you do when a machine breaks? When you buy a machine from a reseller, you often receive a guarantee and they are willing to fix your machine with other parts. However, when buying second hand machines from marketplaces online or from other people, be sure to seek advice from someone who already runs a vending machine company and maybe buy the machine with them. Make sure that the coolers works, and everything is working properly. A deal that almost seems too good to be true, is often that; too good to be true. It’s better to pay fair value for your equipment and be known as an excellent service provider in your area, than shorting on your equipment that the cusomters interact with.
Final thoughts
When business owners are reluctant or want to receive commisions, try to sell your idea to them by reminding them of the service that your business provides for their cusomers. Having a pleasant experience in their store or being able to buy something to eat and drink will create reasons for people to come back. Always seek professional advice from advisors or mentors who have already done it before. I hope that this information could help you, and thanks for reading.