Vending machines are installed at public places to serve people drinks, candies, sodas, jewelry cookies, tea, chips, etc. Anyone can start this business or a side business. If this business is set at traffic places, then it becomes a profitable business. The vending machine can be purchase for approximately $3000 to $5000.the cost varies on the size, design, and weight of the device.
What is vending machine?
A vending machine is an automatic machine, which provides the products to the customers by itself. When the customer inserts the money in the vending machine, it gives them their selected items. The vending machine can provide chips, pizza snacks, cupcakes, beverages, 2jewelry candies, soft drinks, etc. It sets all the items automatically and delivers them to the customer on their chosen number. For the facilitation of customer vending machines also accept credit cards from the customers.
How do vending machines work?
A vending machine is installed to serve the people. The vending machine starts its work when any customer enters a coin into the machine. The machine has a particular sensor to recognize the currency when the coin is according to the item. The machine accepts it; otherwise, it rejects the money and sends it back to the customer. When a coin is correct, then the machine places it in the right column. When the machine completes its recognition process, it gives an option to choose the item according to the customer demand; after entering a coin customer press the button and selects the item. The machine has a mini-computer brain that accepts the order and delivers the order. If the item is stuck in the machine, the customer has to wait for his order. If the machine can’t provide the order, then the machine will pay back the customer’s money.
How much does a vending machine cost?
The vending machine has different styles, sizes. The price of the machine changes according to the type which you have selected. The vending machine has many estimated costs. If you are purchasing a new vending machine, it may be costly, but if you buy a second-hand or already used vending machine, you can get it at a lower price. Here are different vending machines that have different prices, which are below:
1. Food and soft drinks vending machine
This type of vending machine is installed at places where people need to eat when hungry; for example, they are installed at hotels, malls, hospitals, and picnic points stores. These machines offer eatable items to the people, including chips, pizza, water, soft drinks, cigarettes, cookies, ice cream, tea, candy, soda, etc. The cost of this vending machine is almost $3000 to $5000. This machine uses for a high range of profit if the location of this machine is at a high traffic place. This type of vending machine working with electricity, and this machine also need maintenance.
2. Special vending machine
This type of vending machine is placed at places where people are ready to travels. Like the perfect location of the vending machine are airports, bus stops, event venues, gyms, restaurants, hotels, resorts bars, etc. This machine offers special items to the people like beauty items, personal products, electronic items, etc. This type of vending machine gives you a particular slot according to your unique products. The price of this machine is just $2000 to $6000.
3. Bulk vending machine
The bulk vending machine is mainly used for kids’ candies, toys, jewelry, stickers, and gumballs. This machine is installed outside the mall, offices, hotels, restaurants, waiting areas, bus stations, etc. This machine offers small items; therefore, the profit ratio of this vending machine is low. The cost of this machine is cheaper than the others. Its estimated price is $95 to $550. This machine does not need any batteries or electricity; this feature makes it easy to maintain and use.
4. Book vending machine
Some of the vending machines offer books to their customers. This type of vending machine is used in universities, schools, colleges, and libraries. Book vending machine is mainly seen In the US, Sweden, etc. The cost of this machine is not in the high range it may be $1000 to $2000.
How to start a vending machine business?
There are a few steps to start a new business of vending machine which are given below:
· Target your market
First of all, you have to target your market. How many customers do you need in one day or one week? The location which you select is it suitable for your business or not? In vending machine business, you have to need a traffic area. A good site includes hotels, malls, gyms, airports, schools, offices, etc.
· Register your business
Every business must have to register. If you register your business, you can take all the advantages which the government gives. Your business needs a license.
· Choose your vending machine
After completing all the legal formalities and searching your market, where you install the vending machine, you have to choose your machine type. What kind of machine do you want to select? As you want a beverage vending machine, a food vending machine, or a bulk vending machine that needs no electricity. Choose your vending machine according to your particular market, where your vending machine gains more and more profit.
· Install your vending machine
When you choose your vending machine, then pick it and install it. You must remember and make sure that your device is seated at the right place where people need it. For example, in the gym where people want energy drinks and soft drinks, install an ice cream machine in the event venue.