How To Start A Vending Machine Business In Under 10 Minutes | Passive Income Ideas

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How to start a vending machine business in under 10 minutes. In this video, I will share every detail about vending machine business. You can easily learn everything you need to know to start side hustling in the vending industry. Hope this passive income idea will be useful.

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Learn about:

Location
What are you looking for in a location?
• What are the Opening Hours? – Is it easy to get in to fill and service the machine around your 9-5 job? The best sites are 24/7.
• How many staff or customers walk past the machine every day? I recommend at least 30, any less than that and your income will be inconsistent.
• Where is the machine located on-site? Is it in a prominent area where everyone can see it, or is it tucked out of the way?
• What type of demographic are your potential customers? Are they tradesmen and construction workers or are they white-collar office workers? Are they health conscious or looking for a sweet fix? The demographic will influence what type of products you can stock and how much you can charge for them.

Vending Machines
Do you buy brand new or second-hand? Depending on your budget, you can get an older machine say around 10 years old for less than $1000. A second-hand refurbished machine might set you back $2,500 and a top-of-the-line brand new machine can be upwards of $5000.
The new machines come with all the bells and whistles, a warranty for peace of mind and if you can afford this kind of outlay, I’d recommend it. However, the best bang for the buck is probably a mid-range refurbished machine around the 5-year-old mark. Well manufactured machines can last upwards of 20 years if they are serviced well.

Payment Systems
Credit Card sales are becoming more and more common; smartphones and watches will only further reduce the need to carry cash. You definitely want a credit card reader on your machines. The other benefit with credit card readers is they offer back-to-base reporting on all sales so you can remotely monitor how much stock you have left in the machine. This makes refilling a breeze as there is no need to double handle your stock, just take in exactly what you need to fill it.

Transporting the machine.
This is harder than people think. Vending machines are heavy, upwards of 200KG or 400lbs. You will need some tools and equipment to safely move your machine. These include:
• Dolly
• Pallet Jack
• Truck, Trailer (Preferably with a hydraulic tail gate)
• A second person with a decent set of muscles.

Stock Sourcing and Refilling
Depending on where you live there will be numerous options for sourcing stock. The key is to buy in bulk to maximize your margins. Places like Costco are a good start but there are plenty of specialist distributors and even local supermarkets who offer great prices on bulk snacks and drinks.

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