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Points To Consider While Selecting Your First Vending Machine

Starting a business is a tough proposition. If you are a first-time entrepreneur, there is a learning curve in the form of domain know-how, capital investment, use cases, cash-flow, and more. This is where the right vending partner is relevant. Vending machines earn a decent income, especially if you have identified the right location and the product mix that you want to sell. The success of vending machines lies as much in their novelty as in their convenience. While everyone gets hungry and thirsty inevitably, it is often boredom or curiosity that vending machines satisfy.

There are several factors to consider before you purchase your first vending machine. Careful consideration of these factors can help turn your vending business into your primary source of income. While choosing the right vending partner is step 1, below we discuss more about the other important factors that warrant your attention.

How much to Invest

Vending machines are capital equipment. Your upfront investment needs to be structured in a way that yields returns in a short period. There are several ways in which you can achieve this.

  • Finance your vending machine purchase: Timely access to capital is critical in order to break-even quicker. Our inhouse financing, for instance, has flexible plans that will be ideal for maintaFactory Inspected Remanufactured Machines: These machines are a good option if you are keen on reducing capital investment. The precaution you have to take is to always purchase machines from reliable suppliers or partners. eVending, for instance, has a team of professionals certify the machine after the replaced components have been double or triple checked. All of our remanufactured machines come with a one (1) year factory parts warranty and lifetime toll-free vending machine technical support.
  • ining cash-flow. 
  • Update Your Machine: First-time buyers are able to purchase equipment without the latest features. However, do not forget that these features, like cashless payment systems or UVend Technology, can help you adhere to your target audience. Once you start generating returns, update your machines often. Reinvesting in your first machine to create a comprehensive vending experience for your customers will generate long-term returns.

 

Make sure to create a provision for stocking your machines. After all, you sell the products you stock, not the machine.

What Kind of Vending Machine to Buy

There is a wide variety of vending machines to choose from. The kind of product you vend is a crucial factor to consider while selecting vending machines. Refrigeration and temperature control are essential for beverages and perishables like salads or sandwiches. Combo snack and drink machines are ideal when catering to a diverse set of consumers in public spaces, such as airports. If you are looking for coffee vending machines, the product footprint and its area are crucial factors. 

Where to Install the Machine

The location of the vending machine decides what products are sold in your machine, how you price them, and even how you accessorize the machine. Protein shakes and power bars may look out of place in a vending machine at a school and Snickers probably will not sell well at the gym. 

The cost of placing the machine at the location you choose impacts the profitability of the vending business. The cost of power is another drain on profitability. Decide and agree on the fees or sales commission and all other expenses you will or won’t share with the location owner well in advance. After you commission your machine, there is little room for negotiation. However, some locations will not charge you for placing your vending machine. It all has to do with the location and the agreement you both come up with.

What is Your Business Structure Going to be

This decision has tax and legal implications and the time and money needed to ensure regulations. You can register your business as a sole proprietorship, general partnership, corporation, LLC, or limited liability company. Corporations and LLCs may require a registered agent to act on your behalf. Consult a lawyer to make an informed choice about the registration.

What are the Considerations for Incorporation

There’s a lot of paperwork involved concerning registration, especially for LLCs or corporations. Suppose you incorporate the business as a sole proprietorship or partnership with a name that is different from your brand name. In that case, you need to file a ‘Doing Business As.’ Look up the permits you need, licenses you have to apply for, and any other regulations you may have to comply with.

How will you Secure Funding

First off, you need to calculate the capital requirement. You also need to have an estimate of short-term operating expenses. Your capital requirement is not just the cost of buying a suitable vending machine. It should provide for the cost of incorporation, security deposits for the location, and the machine’s installation cost if your supplier does not offer that as a part of your purchase. The short-term operating expenses must include the cost of inventory, energy, location charges, and transportation, among others. You could also simulate your profits as per your research and market expectations with our profit calculator tool

The capital and operating expenses together will give you the total investment needed for your vending business to take off. Prepare a business plan based on this information. A business plan typically includes an overview of your business, your products or services, your strategies for revenue generation, the budgeted expenses, and a model of your operations.  Templates downloaded off the internet can give you an idea about writing a business plan, but do not forget to leave an element of “your business DNA” in the plan document. After all, investors fund the business but invest in the business owner.

Once you have a freeze on the investment required, decide on the means to acquire funds. Check your credit score to know which ones you qualify for. Some vending machine manufacturers or suppliers provide attractive financing options to encourage the purchase of their equipment. This will mean lesser hassle for you as a business owner. You do not have to run from pillar to post to process the financing, as long as your credit is healthy.

Which Company Should You Buy From?

The last step is to consider which company to buy your vending machine from. The manufacturer who provides the lowest price may be hard to resist, but remember that the lower price does not always translate to lower cost. Look for longevity in the industry, as nothing can beat experience. Above all, look for a manufacturer or supplier who manufactures locally. Local manufacturers understand the nuances of the usage of your vending machines and the products you sell.

eVending has over 90 years of experience in the vending industry. We offer a wide range of factory-direct machines at a very reasonable price. Contact 1-866-4958-4501 to give your vending business a flying start.

Points To Consider While Selecting Your First Vending Machine

Points To Consider While Selecting Your First Vending Machine Starting a business is a tough proposition. If you are a first-time entrepreneur, there is a learning curve in the form of domain know-how, capital investment, use cases, cash-flow, and more. This is where the right vending partner is relevant. Vending machines earn a decent income,

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6 Reasons for your small business to invest in vending machines

6 Reasons for your small business to invest in vending machines

Small businesses

A key reason for the USA’s success as a major economic superpower is the contribution from small businesses. Together, they account for more than 54% of the GDP and 55% of all employment opportunities. Despite government assistance, like grants and aid, small businesses often struggle to generate enough profits to fund growth or deliver a satisfying reward for the business owner. This is because of the scale of its operations. Almost any small business owner would be more than happy to find ways to improve revenues from their existing store, factory, or office without significant expenditure. The good news is that this is possible with the help of automated vending machines.

Additional revenue

Be it a gym, a convenience store, or even the local dentist’s office, a vending machine can be a valuable addition to your business. An easily accessible stock of snacks and chips for the waiting patrons or accompanying visitors is a quick way to increase your businesses’ revenue. Snacks are the most ideal commodity for impulse purchases, and their mere presence can entice an interested customer to buy, but it does not just have to be snacks. The machine can provide necessary supplies relevant to your business. For example, a dentist’s office probably will not want a vending machine that sells sugary snacks and drinks. Instead, they may place a vending machine that sells oral health products such as mouthwash, floss, and toothpaste. The possibilities are truly endless.

Customer Convenience

Vending machines are not just all about making more money. They are also about giving your customers the extra convenience of not having to run from pillar to post for their trivial needs or hunger-related urges. A customer waiting at a nail salon might leave when she is thirsty and may not return. A gym member may have to miss leg day because she forgot her bottle of water. The presence of vending machines satisfies those urgent small needs that can make or break your individual customer experience, and a small business is nothing if it does not deliver a good experience for its customers. Vending machines can help you do just that through improved convenience.

Customer Stickiness

Convenience aside, vending machines are fun to interact with. They also help your customers avoid trips to different establishments for their more minor needs. More importantly, despite their prevalence, they are still a novelty for kids and adults alike. We all like to see the magic of machines eating up money to throw out snacks and beverages. Together, these factors contribute to a better experience for your patrons or accompanying visitors at your establishment. It is a no-brainer that a better experience brings repeat business and eventually loyalty from your customer base.

Some machines also come with cutting-edge technology that enhances the user experience. An interactive touchscreen makes it easier and enjoyable for consumers to use the machine. Some machines also boast of technology that ensures that no consumer walks away frustrated about a failed transaction. iVend Guaranteed Delivery from eVending is a good example. It guarantees that every product will vend, or the customer receives their money back. It is undeniable that the quality of the service or product will be the best value for the customers of small businesses, but vending machines can augment that value to enhance the overall experience of conducting business with you.

Average Revenue Per Customer

If you are a financially savvy small business owner, one of the yardsticks that you will constantly use to measure success is the “Average Revenue Per Customer”. This is simply the amount a typical customer spends at your business. If you have ever paid a visit to your local bank or a private investor to fund the growth of your business, you have most likely heard this term. Vending machines are an easy way to improve this number. A gym member who is already getting the top membership plan has a minimal scope to spend more at the gym. A vending machine, however, can help improve the sale of health supplements or even essentials like water or towels. Nail salons can monetize their customers’ waiting time. Instead of flipping through the pages of a magazine from 10 years ago, they can sip a can of beverage while they wait. All of this can increase the transactions at your establishment.

Branding & Customer Experience

Vending machines can be an opportunity for you to reinforce your brand. Wrapping the machines in graphics that reflect the branding of your business can generate good top-of-mind recall for your customers. It gives you an unbeatable “cool” factor that may not necessarily translate to dollars in the short term, but can pay off big in the long term. At the end of the day, customers like to do business with successful establishments. Branded vending machines can help you present your success with style.

Summary

Vending machines may not be a part of your core business, but they can help you enjoy benefits like improved revenue, enhanced customer experience, loyal customers, better profitability, and a strong brand. Your only hurdle to enjoying these benefits may be the capital required to buy the vending machine. Reputed vending machine manufacturers like eVending have easy finance options and attractive offers. They can help you buy your vending machines quickly.

If you need a place to start, let us help you. You can call us at 1-866-958-4501 or visit our website www.evending.com to learn more.

Reasons for your small business to invest in vending machines
6 Reasons for your small business to invest in vending machines

6 Reasons for your small business to invest in vending machines Small businesses A key reason for the USA’s success as a major economic superpower is the contribution from small businesses. Together, they account for more than 54% of the GDP and 55% of all employment opportunities. Despite government assistance, like grants and aid, small

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Starting a new business is always exciting, but can be overwhelming. A lot of research within your desired industry must be done to find the right equipment and product for your business. The vending industry is no different. Jay Glatting of LIT Property Services began his vending business as a way to make extra money. Prior to purchasing a machine, he came up with a list of standards that were “must-haves” for his vending business.

As Glatting began his search for his first vending machine, he knew he wanted to purchase from a well-known manufacturing brand, as opposed to purchasing from a distributor. He wanted to ensure that he was purchasing high-quality machines, which could lead to an expansion of his business down the road. After doing his research, he found that eVending helps fit his needs.

Glatting found eVending to be a reputable company with a wide variety of vending machine options. “It seemed like eVending was selling the machines that other people were reselling with a wide variety of options,” Glatting said. “You had what I needed or you could make what I was looking for.”

For Glatting, having a reliable vending machine was one of the most important factors in choosing a vending machine. He wanted something that was high quality and high value, as opposed to the cheapest machine. From a technical standpoint, Glatting is satisfied with the minimal technical issues he has encountered. “From a technical standpoint, I haven’t had an issue that cannot be diagnosed over the phone or with a local service person.”

As with any business venture, Glatting has learned quite a bit about vending that he did not know before. Since purchasing a new machine, Glatting has become more familiar with product options and learned the importance of credit card process aspects of the machine. Additionally, Glatting is figuring out what to do to better his business even more. For example, since he has an outdoor machine, he is finding ways to better secure his machine and his products.

When asked about his vending experience thus far, one phrase came to mind: satisfied, with room to improve. “I was unfamiliar with the setup options and was in the dark about what product and the shapes and options of the vending choices, Glatting said. “Next time, I will spend more time learning about those aspects.”

In fact, the one piece of advice Glatting wants to pass on to others looking to get into the vending business is simply to specify the specific products you intend on selling so the machine is set up for those products when the machine is built.

Glatting also provided a bit of advice for anyone wanting to get in the vending business, specifically with eVending products. “I would say that eVending is a reliable company with equipment that is easy to operate and manage, without much technical experience,” said Glatting.

Although Glatting is relatively new in the vending industry, he still has plenty of goals for his business. One of these goals is to continue to purchase more machines as he finds new locations. Luckily, eVending is able to help with this by providing adjustments to his machine in order to better suit his product needs.

Prior to purchasing his machine, Glatting had a relative idea of what he was looking for. He wanted a reliable vending machine from a reputable company, as opposed to a third-party distributor. eVending was able to help him accomplish this, and do so much more.

No matter what stage you are at with your vending business, eVending can help you. For additional questions about our products and services, give us a call at 800-944-5524.

A Reliable Machine from a Reliable Company
A vending operator loading Sun Chips into a Futura Vending Machine with a tilted tray for easy loading

Starting a new business is always exciting, but can be overwhelming. A lot of research within your desired industry must be done to find the right equipment and product for your business. The vending industry is no different. Jay Glatting of LIT Property Services began his vending business as a way to make extra money.

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Having your own business is all a part of the American dream and owning a vending machine route is a good way to get started. Just because you are trying to get started on a tight budget does not mean you should have to start out with no more than one or two machines. We carry a selection of used vending machines at prices that will let you buy more machines to start with.

Our Used Vending Machines Are Carefully Cleaned and Tested

The one thing you do not have to worry about when it comes to buying used vending machines from us is that you are buying someone else’s used junk. All of the used machines we sell have been thoroughly cleaned inspected and repaired to make sure that they are in like new condition without the new price. This will make it possible for you to buy more machines to get started and to watch your new business grow.

Save Money Starting Your Own Business with Used Vending Machines

Having your own business is all a part of the American dream and owning a vending machine route is a good way to get started. Just because you are trying to get started on a tight budget does not mean you should have to start out with no more than one or two machines. We

Read More

Having considered adding one or two snack vending machines to your retail business, you can either contract with a company to supply them and keep them filled or you can find somewhere to buy vending machines that you will not only own, but you will be in charge of filling and taking care of. This way you will always know that your machines are filled with snacks.

The Internet is the Best Place to Buy Vending Machines

You are not likely to find anywhere locally to buy vending machines and if you do, you may not like prices that the companies selling them are going to ask you to pay. When you shop online with us you will not only get fantastic machines for your business, but we sell them at surprisingly low prices that should easily fit into your budget.

Where Can I Go to Buy Vending Machines at Reasonable Prices?

Having considered adding one or two snack vending machines to your retail business, you can either contract with a company to supply them and keep them filled or you can find somewhere to buy vending machines that you will not only own, but you will be in charge of filling and taking care of. This

Read More

As a business owner, you have decided that you want to add a few snack and soda machines to your business locations in town. The hard part is deciding whether you need to buy vending machines or find one of the various services that will provide the machines and keep them stocked for you. There are a few things you need to consider before you make your final decision.

When You Buy Vending Machines They Are Your Responsibility

One of the most important things you need to keep in mind if you are going to buy vending machines is that they are your responsibility. This means that you are going to have to keep them stocked as there is no point in having empty vending machines just sitting there. The only way they can make you any money at all is for you to keep them filled. At the same time as long as you can take time out to do this, they will make money for you.

Do You Need to Buy Vending Machines for Your Business?

As a business owner, you have decided that you want to add a few snack and soda machines to your business locations in town. The hard part is deciding whether you need to buy vending machines or find one of the various services that will provide the machines and keep them stocked for you. There

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Your employees have been pestering you for months to add new vending machines to your break rooms and a few select locations throughout the factory floor. The problem is that everywhere you have gone in your search for somewhere to buy vending machines, the prices have either been too high or the quality too low. If neither of these sounds like what you are looking for, you will need to find another place to buy the machines you want.

You Can Buy Vending Machines Online

Perhaps one of the best places to buy vending machines is online. Here you will find that we have an excellent selection of both new and fully refurbished models for you to choose from. We offer a complete range of both cold drink and snack vending machines at very reasonable prices, in fact when you see our low prices you may find that you can afford to add more machines than you were originally planning on.

Where Are You Going to Buy Vending Machines for Your Factory?

Your employees have been pestering you for months to add new vending machines to your break rooms and a few select locations throughout the factory floor. The problem is that everywhere you have gone in your search for somewhere to buy vending machines, the prices have either been too high or the quality too low.

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You have been thinking about starting your own vending machine business, but as of yet you have not been able to find anywhere to buy vending machines locally. This is nothing unusual as there are not that many places you can go to where you can buy top quality new and used vending machines. Occasionally you can find them at auctions and in pawn shops, but you have no way to know if they are any good before you buy them.

You Can’t Afford to Buy Vending Machines that Don’t Work

The last thing you can afford to do is buy vending machines that don’t work, especially if you are just getting started in your own business.  Rather than risk wasting your money in this manner, you will find that we carry a full selection of top quality new and used vending machines at prices you can easily afford. All of our used machines have been refurbished and are in like new or very good condition so that you know you can count on them to provide you with top operational performance.

What to Do When You Can’t Buy Vending Machines Locally

You have been thinking about starting your own vending machine business, but as of yet you have not been able to find anywhere to buy vending machines locally. This is nothing unusual as there are not that many places you can go to where you can buy top quality new and used vending machines. Occasionally

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Now that you have finally decided to start your own vending machine business, you have to find the right place to buy the vending machines you need from a local seller if you can find one or take a chance and buy them online. Although you might think that it is better for you to see the machines before you buy them, this is not always a necessity and can be an expensive decision.

More Likely when You Buy Vending Machines Online You Will Save Money

Keep in mind that if you decide to buy the vending machines you need online, you are going to realize significant savings as compared to buying them from a local vendor. When you buy them from us, whether you opt for new or used, you are assured of getting top quality vending machines that will provide you with years of service.

Is It a Good Idea to Buy Vending Machines Online?

Now that you have finally decided to start your own vending machine business, you have to find the right place to buy the vending machines you need from a local seller if you can find one or take a chance and buy them online. Although you might think that it is better for you to

Read More

Having considered adding one or two snack vending machines to your retail business, you can either contract with a company to supply them and keep them filled or you can find somewhere to buy vending machines that you will not only own, but you will be in charge of filling and taking care of. This way you will always know that your machines are filled with snacks.

Online is the Best Place to Buy Vending Machines

Chances are that you won’t find anywhere locally to buy vending machines and if you do, you may not like prices that the companies selling them are going to ask you to pay. When you shop online with us you will not only get the right machines for your business, but we sell them at surprisingly low prices that should easily fit into your budget.

Where Can I Buy Vending Machines at Affordable Prices?

Having considered adding one or two snack vending machines to your retail business, you can either contract with a company to supply them and keep them filled or you can find somewhere to buy vending machines that you will not only own, but you will be in charge of filling and taking care of. This

Read More