Food vending machine business. Have you ever thought of a food vending machine business?
People in busy offices always get hungry, yet most businesses/companies are not willing to install vending machines. Therefore, this (food vending machines and pop machines) is a lucrative venture you can invest in.
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Pros of a food vending machine business.
A vending machine business is a retail business that does not require face-to-face interaction with customers. In addition, it can be run for 24 hours a day depending on the location.
One can either choose to install the machines for a small fee or for free to the property owner and you get to keep all the profits from the machine. This business idea has a lot of potential hence it can scale to grow throughout your town or city.
This business (just like the milk and salad oil vending machines business) is one that offers operators flexibility, because it can be tailored to suit the lifestyle of the owner, thereby creating a balance between work, life, and family.
Entrepreneurs can also go fully into other businesses, while others can decide to make it a part-time business venture.
So far, I have come across only 3 people doing this kind of business here in Kenya which means you can make it big now when the competition is very low.
How to start the food vending machine business.
First, you need to import a vending machine that dispenses healthy bitings and beverages. Then you will need to look for a prime location either in town or some busy offices.
A vending machine dispenses items such as beverages, snacks, lottery tickets, alcohol, cigarettes, tattoos, toys, candy and so much more.
There are very strict laws regarding the sale of alcohol and cigarettes through vending machines due to concerns regarding underage buyers.
Before starting a vending machine business, there are certain questions you would need to answer.
This is so as to get an idea of what you intend to achieve. The questions are:
- Do you intend to go into the business as a part or full-time owner?
- Will you be a sole operator or get into a partnership with someone?
- How much capital do you need and how much is available and where will you source finances for the business?
- What your goals are, short, medium, and long term?
- What kind of machines would you need to get? Would they be new or used?
Demographic and psychographics of vending machine users
The demographic and psychographics of vending machine users depend on the location of the machine, and the products offered by the machine.
For example; gumballs vending machines are likely to cater to the needs of children and young adults. Coffee vending machines will cater to young adults and adults of whatever gender, while generic snacks and drinks will likely cater to almost all age groups except those who are extra health-conscious.
Finding and securing the right location for your vending machine is important in building a successful vending machine business.
Most successful vending machines are located in areas where there is high foot traffic such as movie theaters, shopping malls, community centers, hotel and bank lobbies, restaurants, medical centers or hospitals, schools, public farms, and office complexes.
Another key factor to consider is the products you intend to dispense from your machine. For instance, it wouldn’t make any sense if you place vending machines that dispense hot coffee in restaurants. This is because you won’t get many people using your vending machine. Another example is if your vending machine dispenses toys in a college setting.
If you sell the wrong products, your vending machine business might struggle.
The purchasing power of the clients where your vending machine is placed is yet another vital factor to consider. You cannot hope to sell premium goods in a low-priced mall or shopping center. Especially since the people that would patronize such places are low-income earners.
In addition, you can operate this kind of business from home. As it works for you even when you aren’t there. However, once you employ people to help monitor the machine, you will need an office. where your employees can report. The office doesn’t necessarily have to be big but it should be near your vending machines.
Create a Suppliers/Distribution Network
Regardless of whether you own just one or several vending machines, you would need a network of suppliers or distributors. These distributors will make your job of sourcing for products, or getting the available products on time for your customers.
This means being in a good business relationship with these distributors as it will help you be more reliable to your customers, especially in regards to filling the machine immediately after the products have finished.
When you cultivate the right relationship, the distributors might not only help in the timely delivery of products but might also pass along vital information for your business and help retain customers.
Tips for Running a Vending Machine Business Successfully
Running a vending machine might look like an easy business but it can be quicksand for entrepreneurs that run the business badly.
The first thing to always remember is that the customer is the king, and to give them the best treatment by not getting lazy at filling the machine on time. The easiest way for the business to fail is not to bother about whether your machine is empty or filled.
2. Always ensure that the machine is kept clean, and well maintained. If it has got a problem, it shouldn’t be out of order for a long period.
3. Keep the machines at the best and most accessible locations, a location that doesn’t inconvenience the customer when they intend to use the machine.
Finally,
As fewer and fewer people are managing to carry food to work, your food vending business would definitely be a big hit in this part of the world.
This article was first shared in the PROFITABLE BUSINESS IDEAS WhatsApp group It was written By: Justine Nyachieo (Business Man & Mentor+254742304047)
2 thoughts on “FOOD VENDING MACHINE BUSINESS”
insightful
Thank you