One common question that comes up for those that are considering a vending machine business is how many machines are needed in order to be successful. The answer to this isn't just as simple as saying a set number. Of course those that sell vending machines want you to think you need to buy a large number of them. This way they can make more money.
However, the truth is they don't want you to have too much time to think about it all on your own. They want you to believe every word they have to say so they can make money. They don't care if you will be able to do so or not. You need to really focus on being able to make money with your vending machines. You won't make money if you have two, four, or ten vending machines if they aren't in prime locations.
The only way to make profits from your vending machines is to have all of the essential elements in place. This means you have to have the right places for them to be located. Really put some effort into securing high traffic areas. Don't rely on the salesmen to get you those locations. Chances are they are only going to get you a place that takes up space. You won't be generating the money you want to though.
If you really work hard to find good locations for your vending machines you can have an excellent business. As you are doing well with the machines you have in place you can continue to build on that. Save up money and then buy another vending machine when you have a great place for it. This pattern of behavior will likely serve you very well.
Of course people will be looking to see what is inside of each of your vending machines too. Make sure you offer a wide enough selection that they will buy something instead of just walking away. This is especially important if there are other vending machines in the area that are your competition. If your products aren't moving you will be losing money instead of making it.
For example, if you are placing the vending machines at a school you will likely do well with an assortment of snack food items or sodas. If you are placing the vending machine outside of the gym you may want to offer plenty of water, juice, granola bars, and other healthier options. In many instances though you can just offer a good variety of items to keep customers happy.
You also need to make sure each of your vending machines is working well all of the time. When they aren't working like they should you are losing money. If this continues to happen people will avoid using your vending machines. They don't want to lose money or not get the product they choose.
So the question you are asking shouldn't be how many vending machines you need to be successful. Instead the questions you should be asking is how to find the right locations, how to get good products to stock in them, and how to keep them operational. These are the keys to success that will help you have a wonderful vending machine business.
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Robert Farnham built a profitable vending business after starting totally the wrong way. He now writes about building a vending machine business and the pitfalls to avoid. Visit his website at My Vending Uncle for more.
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