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Lanee' Blunt
By
Lanee’ Blunt
 |
| Start a vending machine business-- Image by Igoghost. |
A vending machine business is one of
the fastest growing businesses. It
offers the opportunity to make an extra income part-time or on a full time
basis. There are a lot of different types of vending machines for example, bulk
machines that dispense a handful of gumballs, or nuts, coffee or soda, candy
and chips. Starting a vending machine business requires a vending machine,
along with products such as soft drinks, gumballs, candy, and snacks. However,
just as with any business there are pros and cons that go along with this
business also.
Great
Income Potential
The vending machine business is a cash
only business and offers a great chance to make a good income. It can be
profitable within a few months if you have selected a good location. An average machine can earn you $7.00 per
month per person and a triple machine can be expected to make $21.00 per month,
according to atouchofbusiness.com.
Low
Investment
The initial investment is small
compared to other businesses, unless you’re buying bigger vending machines.
Flexible
Hours
You have the opportunity to set your
own hours. If you already are working a full time job you can set your own
schedule.
Competition
One of the cons of owning a vending
machine is that there is a lot of competition. The initial investment needed to
start is a major factor in the high competition. There are a lot of companies that offer vending machines and you need to do your homework here. You may find suppliers in your area, but may find that online suppliers offer a better deal.
Location
Another of the cons of owning a
machine is placing the vending machine is the right location. If you put the
machine in a location that doesn't have enough traffic or if your competition
has the same type of vending machine but they are located in a better location
than your machine is another disadvantage.
Reference:
Buzzle; Vending Machine Business Prosand Cons; Vibhuti Gatha; 2011
Posted in: Start Up
