I know, you’re wondering “Is it possible to actually start a Vending Machines Business in 2024 with only $1,000 dollars?”. Don’t lose hope yet because although it is hard, it is 100% possible.
If I had $1,000 dollars how would I start my Vending Machine business?
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- Learn How to Start a Vending Machine Company.
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- Aquire a Vending Machine.
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- Get Your First Location.
Learn How to Start a Vending Machine Company.
I would like to start this off by saying knowledge is power. It sounds like we are back in elementary school, but it’s true. Don’t think that you are going to rush into this business and know every thing because you have been using Vending Machines since you were in grade school. It takes a lot of knowledge to run a Vending Machine business and a lot of handiness.
To get started, why not watch some YouTube? There’s an awesome channel by Jaime Ibanez—you’ve gotta check it out. Here’s the link to his Channel! He’s like your go-to vending machine guru, sharing all the ins and outs of the biz. It’s like hanging out with a friend while getting the lowdown on what it’s really like running a Vending Machine Business.
I’ve read my fair share of books—seriously, I’m talking stacks on stacks. By far “How To Start A Vending Machine Business” by Walter Grant and Matt Coleman is the best of the best. It’s like the holy grail of vending wisdom. Trust me, amidst all the reading, this one stands out as the most enlightening and user-friendly guide I’ve found yet. It’s simple, easy to read, and it is a book you can always go back to. They make it seem so easy!
Remember when I said you have to be handy to be in this business? I’m not kidding. You can have unexpected things happen like the cooling system going out, electrical issues, oh and did I mention these things weigh 1,000 Pounds! Yeah, try moving one of these bad boys by yourself. Have some hefty living friends, or local moving business on speed dial.
These are just a few in an ocean full of things you will have to learn to start a Vending Machine Business, but this is where you should start above all things.
Aquire a Vending Machine
Don’t worry too much about this part, acquiring a Vending Machine is probably the easiest thing to do within this whole business. Trust me.
Most, if not all of my machines have come from Facebook Market place. I usually find people that are wanting to get out of the business, or just someone that is selling their old machines. I would spend $500 – $750 dollars to find a decent working machine. Now, I will say this, with the budget of $1,000, don’t expect to buy the latest and greatest machine, it’s not going to happen.
The machine you find is most likely not going to have card reader capability and that is okay! Don’t worry about that this early in the business. With this $750 dollar machine put it in a blue collar locations, such as mechanic shops, tire shops, and metal shops.
These guys ALWAYS have cash and rarely ever use their card. They are always thirsty because most of the time they are outside, and its blazing hot out. These locations are cash cows, you will be within profit, I guarantee you within the first month!
Use $200 for stocking the machine up, go with a drink machine, it is the best and easiest money maker of the two.
Once you’ve got the hang of it, just rinse and repeat! But hey, if you’re feeling the itch for an upgrade, why not go for it? The vending machine world is all about staying adaptable and seizing new opportunities. So, whether you’re sticking to the tried-and-true or ready to level up, the choice is yours.
Get Your First Location
Now this, this is the hardest part of the entire business. You have to convince a business that YOUR business is a benefit to them. Most of the time the first thoughts of a business owner is “Well, what am I going to get out of this?”. They are going to get convenience for their employees, they should care about that right? right.
The EASIEST way to obtain locations is to hire a Location Service like The Vending Locator. They specialize in locating the best businesses to put your Vending Machines in. They do research to ensure that the locations they find for you are top of the line. This would also be a part of your $1,000 budget, trust me, it’s worth it.
If you want to muscle through it and find your own locations you have to have one heck of a pitch. Work on a pitch that is persuasive and convincing, this is another part of the business that no one talks about. Just imagine how many Vending Machines Businesses are in your area, they are doing exactly what you are doing. You need to be the best of the best!
I’m confident if I were to start a Vending Machine Business in 2024, I could easily do it with $1,000 dollars. Find a few good friends to help move the machine, so that you can budget and save on that part. You could also offer to pay them on your first week of profit from your machine! Surround yourself with those that want you to succeed and starting your Vending Machine Business will be so much easier in the long run!
Check out simple articles like this for small and easy ways to fix your machines!