Whether you’re looking to add an additional revenue stream to an existing business, or if you’re looking to build a new business from the ground up, vending machines have traditionally provided a steady source of income; believe us, we at VendCoPlus.com know a thing or two about them. If you’re thinking of trying out a vending machine, however, make sure that you ask the right questions before committing to a rental or purchase contract. These questions need to be answered before signing any agreements, but make sure that you fully understand the risks of what you’re agreeing to.

  1. How much income can I realistically make?

There are plenty of advertisements for vending machine businesses that promise enough income to quit a full-time job. While there are vending machine businesses that provide this type of income, they typically involve over 50 machines located in established, high-foot traffic locations. For many vending machine owners, the income provided from a single machine is less than $100 a month. That means that several machines may only provide enough money to pay a few bills, not nearly enough to allow you to quit working full-time.

If you’re taking over a vending machine business from another business owner, be sure to look at the profit and loss statements from the business. Pay close attention to costs versus gross income; many vending machines lose a lot of money to facility rental fees and other expenses.

  1. What type of machines are right for my venues?

Take the time to really consider what types of machines are right for the venues you’re placing them at. Consider what other food and drink options are available nearby, the mindset of the typical customer, and even the right price point for the clientele and location of your machine.

For example, a machine that is located in an amusement park will likely need to have higher prices to pay for the high facility rental fees. Fortunately, theme park customers expect high prices, and will likely be willing to spend a lot of sodas and water that come in bottles that can be refilled throughout the day at free water fountains. Machines located on college campuses may do well with snack sales, unless the machines are located in buildings where food isn’t allowed. Machines located at gyms will likely do better if they are stocked with low-calorie snacks and drinks, and business owners might even consider stocking items such as towels or skincare products.

  1. What are my start-up costs? What are my ongoing costs?

Vending machines are just like any other business in that it is absolutely critical to understand your costs. Make sure that you understand everything that is being charged upfront for the machines. In particular, pay attention to the cost of renting space at various venues. The vast majority of locations will not allow you to place machines for free; many of them will demand a percentage of sales and/or a minimum monthly fee to pay for costs such as electricity.

In addition, consider ongoing costs such as machine maintenance and restocking. Contracts for vending machines are all set up differently, there is no “standard” form. That means that it is entirely possible to rent the machines from a supplier, purchase them on a payment plan, or in some cases receive them for free as long as you agree to only stock them with products from a certain supplier. All too often, business owners find out too late that they were renting machines when they thought they were on a purchase plan, or that the machines they own can only be stocked with products from one company. Read your contract carefully, and don’t take the word of sales people who themselves may not know the details of what they are selling.

  1. What happens if the machines are damaged?

Make sure that you have a clear understanding of what happens if the machines becomes damaged. Vending machines are often left unattended for days at a time, and it is next to impossible to determine who may have damaged a machine and get them to pay for damages. If the machines are being rented, it is not uncommon for the company that owns them to handle maintenance. If you own the machines, you will likely be on your own. While plenty of business owners have successfully learned to do repairs themselves, they still have to order replacement parts. While a machine is broken, it is not producing income.

If you choose to have a maintenance contract on your machines, be sure to ask about what guarantees are in place for the quality of the work and the wait time for repairs. Also ask about the company’s policy in regard to “excessive” repairs; some maintenance agreements only allow for a set number of repairs every month, and some rental companies reserve the right to repossess machines if they are experiencing very high rates of vandalism or breakage.

  1. How will customers pay for items?

Finally, it’s important to put some time into determining how customers will pay for items from the vending machine. Today, most machines contain items of high enough value that a dollar bill reader is practically a requirement. These machines have some issues, however, and are swiftly becoming more problematic for customers who tend to carry very little cash on them. Credit card readers and wireless payment options such as Apple Pay are becoming increasingly popular as a result.

For a vending machine owner, however, credit card readers introduce a new host of problems. These readers often charge high processing fees that come directly out of a company’s profits. Some machines will put a “hold” of several dollars on a customer’s card, then charge the correct amount once the consumer makes a selection. This results in customers becoming upset that funds are being blocked in their account. Make sure that customers are aware of the terms of use of these machines.

Contact Us to Take Charge of Your Earning Potential!

Vending machines are the ultimate source of passive income and are super easy to install and maintain. Plus, once you start one, adding more to your inventory is much easier. Browse our selection at VendCoPlus.com today and contact us if you have any questions!

These days, we’re deep in the “gig” economy, meaning practically everyone has a side hustle in addition to their “day job.” While there are many reasons for individuals to start multiple revenue streams, it’s never been easier to establish and run a business, regardless of what your schedule looks like right now.

If you’re motivated to make extra money but don’t know how here are our top seven side businesses to start in 2023. Ideally, you can find one that fits your passion and turn it into a reliable income.

Food Cart/Truck

Some side businesses don’t require a lot of investment or equipment, while others, like starting a food cart, do. However, you don’t have to start with a fully-loaded 35-foot-long food truck. Instead, you can invest in some catering equipment, upgrade to a cart, and then a food truck once your side business takes off.

Here are the steps required to make a food cart business work:

Event Coordinator

Who doesn’t love a good party? Event coordinators are essential to any gathering that requires catering, entertainment, and a venue. However, you can also do house parties and other events too, mainly to get experience and testimonials.

One of the best things about being an event coordinator is that you don’t need much upfront capital or equipment to start. Since you’ll be working with your client’s budget, you don’t need to have money for venues or entertainment options.

In this case, it’s best to build a network of vendors and suppliers first, then start contacting clients. This way, when you book your first gig, you know who to call for various requests (i.e., bounce house rentals, DJs, etc.). You can also choose the types of clients you want to work with. For example, will you specialize in corporate parties, house parties, community events, athletic events, weddings, etc.? Once you decide, you can market your skills to potential clients in these categories.

Pet-Sitting and Grooming

If you have a passion for animals and love the idea of working with dogs and cats all day, then pet-sitting and/or grooming is an excellent side business. You can also bill yourself as a dog walker and house sitter to provide the whole package.

For this side business, it may be best to sign up to work for a pet-sitting company or freelance through an app. This way, you can get a taste of the business without putting up any investment capital. Also, you have to consider the pros and cons of watching, walking, or grooming other animals. For example, what happens if a dog bites and/or scratches you? What if they bite an employee?

One benefit of this side business is that you don’t need a storefront. Mobile pet sitting and grooming are more common these days and could be even better for your clients. So, you just have to bring the supplies, and you can build a business from scratch in no time.

Vending Machine

A primary reason to start and build a side business is to have a passive revenue stream. As the saying goes, you should aim to “make money while you’re sleeping.” Once you achieve that, you’re on your way to financial independence.

Naturally, we at VendCoPlus.com know a thing or two about this option. So, a vending machine business makes a ton of sense because people use your machines when you’re not present. Then, you just stop by to restock and count the number of dollar bills (or credit card transactions). Here are some tips to make your vending business work:

Online Reseller

If you’re looking to start a side business without any inventory, infrastructure, or investment capital, consider opening a digital storefront. Dropshipping is a viable option to avoid maintaining inventory, and then you can move into a different set of products later on.

For this business, you just need to build a website and develop a marketing strategy. Fortunately, sites like Shopify can help you create a storefront immediately and connect you with suppliers and drop shippers.

With this option, you must have patience since it will take time to build an audience. But, since you don’t have to pay rent or utilities for a physical space, it’s okay if you only make a few hundred a month to start.

Contact Us to Take Charge of Your Earning Potential!

Vending machines are the ultimate source of passive income and are super easy to install and maintain. Plus, once you start one, adding more to your inventory is much easier. Browse our selection at VendCoPlus.com today, or contact us if you have any questions!

Owning a vending machine can be a great way to earn passive income over time. The initial investment of a vending machine is often worth owning something low maintenance with the potential to earn you extra income.

Vending machines can be profitable depending on how much effort you are willing to put into your business. You have to decide what kind of vending machine best suits your needs, where you want your machine located, and what type of inventory you wish to stock.

You can be profitable as a vending machine owner with the correct planning and organization. If you want to purchase a new vending machine, SandenVendo has a wide variety of options.

How Much Does a Vending Machine Cost?
The cost of a vending machine varies depending on the size, style, and inventory you choose to stock. Many experienced vending machine owners will tell you the best way to start a business is to find a refurbished machine.

You can find refurbished machines from $1,200 to $3,000. New vending machines range in cost from $3,000 to $10,000, depending on the size and the features of the machine. You will then need to consider your inventory. You can stock your machine for a couple of hundred dollars or a couple thousand, depending on your preference.

The investment you make is entirely up to you. You can start a new vending machine business for around $2,000 if you know where to look for the most affordable vending machines and inventory.

How Much Do Vending Machine Owners Make?
As a vending machine owner, the potential for earnings is limitless. You can own as many vending machines as you are willing to invest in. If you own hundreds of vending machines, your monthly income will be astronomically higher than someone who owns one or two.

The location of your vending machines will also affect your income. Sales for a vending machine are location driven, so you will want to ensure that you have vending machines in high-traffic areas. Amusement parks, malls, hospitals, and airports are all great places to put vending machines.

As a vending machine owner, you have a lot of control over how much money you make. The more time and energy you invest in your business, the higher your potential for earning is.

What Kind of Vending Machine is the Most Profitable?
You can choose from 4 categories of vending machines: bulk, specialty, food and beverage, and franchise vending machines. One of the first steps is deciding which is right for you and your business.

According to an annual report by Vending market Watch in 2019, food and beverage vending machines are the most profitable. They are the most popular choice for vending machine owners. Food and beverage vending machines have a place in most settings in which large groups of people will be present.

You can station a food and beverage vending machine at concert venues, hospitals, malls, amusement parks, and anywhere else you think might have large groups of people in a space. This type of vending machine is known to be the most popular.

Where Are the Best Locations to Setup a Vending Machine?
You will have the most success with your vending machine business if you have vending machines in locations that have large groups of people. You will find basic vending machines and food and beverage machines at most malls, hospitals, concert venues, amusement parks, and many more.

Your sales will be driven by traffic. You must choose the right location for your vending machines. You are most likely to be profitable if your vending machines are in high-traffic areas with many potential customers revolving all day.

How to Start Your Vending Machine Business
Starting a vending machine business is simple if you know where to begin. You should first decide what your budget is and what kind of vending machine you want to invest in. If you are starting your business on a budget, you might consider buying your machine secondhand. If you purchase new machines, SandenVendo has twenty different vending machines to choose from.

There are four categories of vending machines to consider. You can invest in food and beverage vending machines, specialty, bulk vending machines, or franchise vending machines.

Once you have determined which vending machine is suitable for your business, you should find the best location. You might not see consistent profits if you do not have your vending machine in a high-traffic area. Ensure that you are choosing your location wisely.

The last thing you should do when starting a vending machine business is stock your machine with your desired product. You must decide which items you will make available and stock your machine accordingly.

Whether you plan to purchase new or find a refurbished machine, you should be able to get your business started without struggle.

Final Thoughts
Running a vending machine business is one of the most low-maintenance ways to earn passive income. You will get more out of the experience the more you are willing to invest.

You can own anywhere from one to thousands of vending machines. As long as you ensure they are in a high traffic-location and stocking your items appropriately, it would be best if you succeeded as a vending machine owner.

You can own anywhere from one to thousands of machines. Owning a vending machine business is a customizable experience that you adjust to your needs as an entrepreneur.

The amount you write off in taxes can exceed profits allowing you to reinvest into your business.

By financing equipment, you can have cash on hand for emergencies and unforeseen costs.

You can potentially deduct the full amount of the equipment you financed this year.

Most banks won’t touch startups. We see it as an opportunity to earn a customer for life.

You don’t have to be a corporation or LLC to get financed. Some programs are the only custom built for sole proprietors.

Having multiple sources, we can usually find options for all credit situations. Having a low credit score doesn’t mean you can’t get financed.

We love working with established businesses. Any opportunity we have to help you grow…we welcome!

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