They also can be money makers for the machines owner.
Its also called automatic merchandising.
This post will lead you through the process.
Ready to work for yourself? We’ve got 49 greathome business ideas.
That makes sense since so many people transitioned to working from home and many vending machines are in workplaces.
No Interest Til Almost 2027?
For reference, 2019 revenue was $24.2 billion.
It seems like people are wanting to get out more these days than before COVID.
That data came from the 2022Automatic Merchandisers Annual State of the Industry Survey.
I cant predict when this will stop or even slow down.
A majority of vending machines involve food and beverage products including sodas, coffee, snacks and candy.
The annual report said cold beverage sales generated 25% of sales.
Laundry rooms in residential buildings often have machines with detergent and fabric softener.
During the pandemic, many more machines began accepting cashless payments.
In 2020, that number was 11%.
The year before it was 16%.
The startup costs are relatively low, sometimes around $2,000.
The work is flexible and doesnt require much day-to-day involvement.
The risk is comparatively low and there is growth potential.
Ausmus grew up in the vending business.
Many are in restaurants and entertainment venues like bowling centers.
You must understand your own financial situation and know how much you’re free to afford to invest.
Be sure you have a solid foundation with the locations you are doing business with, Ausmus advised.
Other machines like toys and candy dont require as much restocking.
That takes a bit of research and knowing who your customer is.
He said supply chain issues are still causing problems getting the right product and keeping it in stock.
The supply chain from abroad has gotten better, much better than domestically.
Employee issues everywhere have made getting supplies and parts in a timely manner an issue.
Vending machine businesses are scalable, meaning its possible to start small and expand.
You dont have to wait for payments because customers pay when they purchase an item.
Pre-pandemic, high quality places meant schools and universities, malls, and office parks.
Think about where people need to wait.
While waiting, they may get hungry or thirsty.
Ausmus novelty machines need kids around.
One of the hardest things to do is to locate a location, Ausmus said.
Location can be about trial and error.
Theres not much harm in moving a poorly performing vending machine to another location.
Buying directly from a manufacturer or supplier is one option, as is purchasing on a secondary market.
Some companies also rent machines.
Ausmus cautioned to see to it there are spare parts and support available for what you buy.
You will need inventory and someone to keep the machine stocked and maintained.
This may require a van or truck.
Perishables need to be stocked more often than other items.
Different types of machines have different capabilities.
Some take only cash while others will process credit or debit cards.
Some models have touch screens or voice capabilities.
Automatic merchandising isnt for everyone, but owning and operating a vending machine can be a good business.
Being able to retrieve the money you make and restock your machines easily is the key.
Then you only work probably three days a month, basically on the whole gig, said Ausmus.
Three to four days a month can make somebody a good little extra income.
(Can you sense my millennial sarcasm there?)
You know which ones were talking about: rent, utilities, cell phone bill, insurance, groceries…
