Category: Vending machine business

Evending Blog

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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Evending - BLOG

 

Industry trends

The vending industry growth curve is set to break free in 2022. The country is wading out of a couple of years of constrained social and business activity. Public spaces are opening, and travel is slowly returning to normalcy. There is a growing need for convenient access to products or supplies. This, combined with novel applications and emerging technologies, make vending an attractive industry to be in.

Industry reports indicate strong growth in revenues from the vending industry in 2022. This report from a leading analyst places the estimated revenue for 2022 at $8.9 billion. As the mobility constraints from 2020 are being released, the industry has nowhere to go but up. This is evident from the graph.

Another report states that while the industry will grow at 0.8% year over year since 2017, players have increased by about 3.5%. This is a clear indication that small single machine owners have increased. With low barriers to entry and minimal bandwidth requirements, the vending industry has become a neat side hustle for many.

Evending - Industry Trends

10 Technology Trends in 2022

The vending industry is not just growing in revenue in 2022. Still, it is also expected to further the progress in technological advancements. Some of these technological advancements are discussed in this section.

Contactless and Cashless

We may return to handshakes and hugs with people we know sometime in the future, but interacting with vending hardware has been forever changed. Users want minimal contact with surfaces. This is not just about hygiene any longer. The convenience of cards, digital wallets, and NFC payments means a lesser need for liquid cash. This also eliminates the chances of misplacing, losing, or stealing money. Growing disposable income in the hands of millennials will translate to increased cashless transactions. Vending machines must be ready to receive them.

Electronic payment systems come with added benefits. Solutions like Greenlite Vending consolidate transaction summaries to analyze machine sales. Users can use the tool to check machine status and run over-the-air updates for software. Such solutions also trigger alerts about machine health and transaction details. They not only allow the user to transact without contact, but they also allow the operator to manage the machine remotely.

Hygiene

Contactless payments can reduce the chances of physical interaction with the machine, but one still needs to select the product and collect it. UV systems can irradiate the contact areas before and after a transaction to ensure 99.9% of the viruses and bacteria are killed or inactivated.

eVending uses UVend Technology to disinfect touch panels, delivery doors and payment interfaces with ultraviolet rays. Its proximity sensors ensure clearance for user safety before initiating irradiation. Ultraviolet light is not in the visible spectrum, so UVend Technology uses blue light to alert users that sanitization is in process.

Versatility

As the number of small players increases, there will continue to be a demand for machines that can sell anything. Combo machines that can sell beverages and snacks are preferred over single product machines. Configurable machines that can sell products of different sizes, shapes, and weights will become the rage.

The growing awareness about personal protection and social hygiene is shoring up the demand for PPE equipment and supplies. The challenge will be in the form-factor of these products. A latex glove box will be very different in shape and form from an alcohol based sanitizer bottle. Super-conscious users will continue to drive the demand for versatile machines selling PPE supplies. eVending helps this issue by offering PPE supplies through our Sani-Center PPE Vending Machine.

Remote Monitoring

Machine owners can optimize their visits to restock the machines if they have prior information on what has been sold and what has not. Remote monitoring features on the machine can help achieve that. They can also find out about machine breakdown and other “machine status” related information as it happens.

Responsible and Sustainable Refrigerants

The refrigerants in vending machines selling snacks and beverages are changing fast, too. R290 or Hydrocarbon based systems are quickly replacing the R410A systems. R32 systems are not as energy-efficient and eco-friendly as R134a making the latter a more economical option.

Retrofit

All the technology advancements discussed earlier are not just for new machines. Leading vending machine manufacturers have developed modular systems that can also be retrofitted to legacy equipment. This can modernize your existing machines without spending on an entirely new machine. Of course, not every feature can be retrofitted. Please contact your sales representative if you have any questions.

Conclusion

2022 is going to be an exciting year for the vending industry. It is not just because people are going to be more mobile and interact more with vending machines. It is more so because the emerging technology trends will level the playing field. First-time machine owners and small vending businesses can now invest and differentiate faster than established businesses. On the other hand, established companies will have to consider buying new machines, upgrades, and retrofits to stay relevant in a dynamic market.

If you are excited about carving your slice of success in the vending industry or growing your vending business in 2022, eVending can help. If you want to know how we can enable your success in the vending business in 2022, call us at 1-888-979-9858.

Vending industry outlook for 2022
Evending - BLOG

  Industry trends The vending industry growth curve is set to break free in 2022. The country is wading out of a couple of years of constrained social and business activity. Public spaces are opening, and travel is slowly returning to normalcy. There is a growing need for convenient access to products or supplies. This,

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Five reasons - Evending.com blog

The only constant thing in the world is change. Retail businesses demonstrate this by being at the forefront of any new trend, feature, or convenience that gives them an edge over their competitors. These changes could be at the back-end, driving efficiencies for the retailer in terms of overhead costs or bringing in more sales at the front-end. Contactless vending is a retail trend that does both – helping the retailer and the customer.

Contactless Vending Is Not Just A Trend

Even as the pandemic enforced social distancing norms that waxes and wanes, the world has accelerated towards contactless systems in a big way. Generally, the introduction of a new trend is due to a need or the novelty factor, whereas its long-term adoption depends on the following:

  1. Utility – A sustained use-case for the customer is critical for a trend to maintain because novelty can only get you the initial interest.
  2. Value – There has to be continuous business value for the retailer, which means that this trend should show returns even with widespread adoption.
  3. Reliable & Dependable – The feature should be easy to live with in terms of its day-to-day operations and maintenance. The benefits become meaningless if it demands extreme care in its operations or is cumbersome to maintain.

eVending sees contactless vending as meeting all of the above criteria. This is why our vending solutions could be cashless, self-sanitizing, and equipped with in-house technology that guarantees delivery

We also believe this trend is irreversible. Contactless retail, unattended retail, autonomous delivery, etc., are part of the larger direction the industry is taking. Here we are listing five reasons as to why the vending industry specifically is evolving towards contactless vending.

Reason One – Technology is Available and Prevalent

Communication networks are capable of handling all aspects of a contactless user journey. From the dispensing side, new engineering disciplines like mechatronics have evolved from the embedded and mechanical disciplines to help contactless physical mobility and material flow. And from the user’s end, mobile phone and internet usage is near total to make contactless vending seamless.

Thus, all the technology components for a contactless customer experience have achieved scale and maturity – from item selection to payment.

For example, there have been breakthroughs in Near Field Chip (NFC) technology in recent years. They are giving rise to applications that have led to widespread adoptions of certain critical aspects of the contactless user journey. For example, tap and go payments are expected to benefit close to 75 million users in the US this year alone.

Thus the threshold for feasible and sustainable technology adoption has been achieved already.

Reason Two – An Improvement Over Existing Dispensing

A study finds contactless vending to be 35% faster than dispensing solutions that require user intervention, no contact helps adhere to social distancing that reduces the chance of infection. Additionally, surveys find a majority of respondents believe contactless is here for the long haul. Contactless retail sales get a thumbs up by about 15.2% in the US alone. Customers like contactless features and the value it brings in, and the customer experience could only evolve from here.

Reason Three – There is More Investment in Contactless Technology

In spite of the global economic churn, we are seeing higher investments towards contactless technology. This points towards more efficiencies across the value chain, from the manufacturing and availability of technology applications to even more widespread adoption. This will bring down the threshold for businesses and even individuals to use and benefit from contactless technologies. The vending industry, which is poised to grow by almost 22%, will also benefit from the new technology.

Reason Four – This Is Simply an Acceleration

Digital transformation as a buzzword has been dominating the last decade. We at eVending are digital-ready. We have helped entrepreneurs and businesses take advantage of the benefits from connected products and solutions. For example, a digitally enhanced customer experience with intuitive touchscreens brings in more sales. Our software and hardware features have also digitally enabled easier operations, service, and maintenance.

Reason Five – Customer Expectations

While more business models come out from the crucible of this global pandemic, customer journeys are always a work-in-progress. Customers love contactless experiences because they are better in all ways – convenience, speed, and efficiency, and we do not see that changing anytime soon.

Why Should You Choose eVending as Your Contactless Vending Solutions Provider?

We have a dedicated R&D department that combines the best product attributes with the latest technology and best practices. We listen to our customers and the industry. Our 375,000 square foot manufacturing facility, 24/7 support, and 90 years of vending experience combine the best qualities to expect from your vending solution partner.

Talk to our experts or take a tour of our Des Moine facility and see how we start with raw steel and deliver the vending solution that custom-fits your requirements.

5 reasons why contactless vending is here to stay for the long term
Five reasons - Evending.com blog

  The only constant thing in the world is change. Retail businesses demonstrate this by being at the forefront of any new trend, feature, or convenience that gives them an edge over their competitors. These changes could be at the back-end, driving efficiencies for the retailer in terms of overhead costs or bringing in more

Read More

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

Have you been looking for a business that you can start for a minimum investment and thought that perhaps a vending machine business might be the right choice? This business has always been relatively profitable and in recent years has become even more so. Despite the fact that there may already be a number of vending machines in your area, you can still find great locations for more that will provide you with a decent income.

We Have the Machines to Help You Start Your Vending Machine Business

If this is new venture for you, you are going to need a source for the machines you need for your new vending machine business. You will find that we carry a large selection of both brand new and fully refurbished vending machines at the lowest possible prices in our online catalog. We can help you get started with a minimal investment and make it possible for you to get started off on the right foot.

Are You Thinking about Starting a Vending Machine Business?

Have you been looking for a business that you can start for a minimum investment and thought that perhaps a vending machine business might be the right choice? This business has always been relatively profitable and in recent years has become even more so. Despite the fact that there may already be a number of

Read More

If you have been looking for your way to grab a piece of the American Dream, you might want to take a close look at starting your own vending machine business.  While there are many other businesses you could get involved in, this is one that you can start out small with no more than a single machine and build your business as you can afford to.

You Can Start Your Vending Machine Business with Only One Machine

Not only can you start your vending machine business with a single machine, you don’t even have to buy a brand new machine. We have a fantastic selection of used and fully refurbished machines for you to choose from at prices that are low enough that you might find you can afford to buy more than one machine to get your new business off the ground and making money for you.

Is a Vending Machine Business Right for You?

If you have been looking for your way to grab a piece of the American Dream, you might want to take a close look at starting your own vending machine business.  While there are many other businesses you could get involved in, this is one that you can start out small with no more than

Read More

If you are interested in starting your own vending machine business, you have probably been doing a fair amount of research into finding the best deals on the vending machines that are the key to your entire business plan. If all you have been looking at is brand new machines, you may be having second thought about whether or not you can actually afford to get started.

We Have What You Need to Start Your Vending Machine Business

While it might be nice to have the money to buy all new equipment to start your vending machine business, it is not always the best or most affordable option. When you are working within a limited budget, you may find that our selection of fully refurbished used vending machines offers a much more affordable way for you to get your new business off the ground.

Starting Your Own Vending Business Does Not Have to Be Expensive

If you are interested in starting your own vending machine business, you have probably been doing a fair amount of research into finding the best deals on the vending machines that are the key to your entire business plan. If all you have been looking at is brand new machines, you may be having second

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While the current state of the economy might make you think otherwise, there has never been a better time to start your own business. What you need to keep in mind is not the fact that you want to start a business, but that you need to choose the right business to get started in. Starting part time is perhaps one of the best ways to get a new business off the ground, which is what make the vending machine business so appealing.

You Can Build Your Vending Machine Business at Your Own Pace

When you start a vending machine business, you get to set the pace at which it grows. You can build it slowly one vending machine at a time or you can speed up the process by purchasing several machines at a time. The more machines you add, the more money you are going to earn up to the point where you are finally making enough to make your business your full time occupation.

Does Starting a Vending Machine Business Make Sense?

While the current state of the economy might make you think otherwise, there has never been a better time to start your own business. What you need to keep in mind is not the fact that you want to start a business, but that you need to choose the right business to get started in.

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If you have been considering starting your own business, but are not sure you can really afford it or are not ready to give up your day job, you may find that your options are somewhat limited. There are very few businesses that can be started on a part time basis. Fortunately, you may find that a vending machine business is exactly what you are looking for.

Vending Machine Business Can Be Started on a Part Time Basis

One of the best things about a vending machine business is that it requires only a small amount of your time when you first get started. After you have your machines in place, you will be able to stop by on the way to or from work and refill them as well as take out your money. You can build your business in this manner until it is providing the income you need to think seriously about quitting your full time job.

Is a Vending Machine Business the Right Choice?

If you have been considering starting your own business, but are not sure you can really afford it or are not ready to give up your day job, you may find that your options are somewhat limited. There are very few businesses that can be started on a part time basis. Fortunately, you may find

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To the would be entrepreneur choosing a business is an important part of their journey to independence. There are many things that must be considered, such as the cost of the business, the number of hours they must invest and a number of other considerations. For some people a vending machine business represents the perfect business opportunity as they get into it for just a little bit of investment and can grow their company slowly.

A Vending Machine Business Offers a lot of Freedom

A Lot of attraction to the vending machine business is the ability to choose your own hours and to have a level of freedom that you never thought was possible. Your job consists of keeping the vending machines full and collecting all of the money. You can rearrange these chores around your other responsibilities and activities and enjoy the freedom of a business that takes care of itself.

A Vending Machine Business Offers a Lot of Benefits

To the would be entrepreneur choosing a business is an important part of their journey to independence. There are many things that must be considered, such as the cost of the business, the number of hours they must invest and a number of other considerations. For some people a vending machine business represents the perfect

Read More