How to Start Vending Business?

There is always certain ambiguity in the minds of people taking up vending business. The benefits and advantages associated with this business draw more and more number of operators towards it. No matter which business you are going to start, a thorough market research is mandatory. The information gather in this research helps provides with a clear cut idea on the steps you need to take before starting this business.

Few steps that can help you in this regard are mentioned below:

• Analysing the start up cost is one of the important aspects of planning. The start up cost of vending business will depend upon two factors: the type of vending machine you use and the number of machines you would like to start with. When you are starting this business for the first time, choose a product that is popular and also has maximum demand. For instance: if you are targeting children, then candy or gumball machine is appropriate for you. Try to purchase a new vending machine that is small and less expensive. Candies are very popular among kids and this machine is capable of giving you $127.50 per week. Once you have made enough money, you can acquire some more and different kind of machines.

• Location of vending machine is also very crucial. This is one factor that contributes to the success of your business. Always prefer locations with huge customer traffic. These places include schools, large companies, restaurants, shopping malls, and bus and railway stations. Make sure that the place meets all your requirements. It should be easily accessible, easy to identify and should have a source for power supply. Since ‘there is no gain without any pain’, identify locations yourself instead of depending on other agencies

• The price of the product you choose to vend would also influence your business. The locality in which you place your machine influences pricing of your product. For instance: If you place your machine in a locality dominated by middle class customers, there is no use pricing a product high. These products would be out of their reach and hence your sales may get affected.

Planet Antares can help you in knowing what it takes to start a vending business and how to make it profitable.