How Do You Finance A New Vending Machine Business?
There are many types of vending machine businesses. For instance, you can sell candy, snacks, toys, soft drinks, coffee and even pet supplies. Vending machine business costs vary based on products sold and equipment used. You can start a business on your own or purchase a franchise. You can establish your own leads or buy existing contacts. Prepare a thorough plan that describes how the business will operate. Include revenue (e.g., weekly, monthly and annually) along with expense (products, machines, maintenance) projections. Location foot traffic will impact your projections significantly. For example, vending machines located in a high school with 400 students will generate different sales than machines in small offices with less than 20 employees or in hospitals with more than 1,000 patients per day. Consider that you might have to pay the property owner a monthly fee or commission in order to receive space for the vending machines. Decide if you will lease or buy (new or used) vend
