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I can't say I have any experience in the vending machine business - however, I'd like to throw out the suggestion that you may consider looking at how successful the vending machine business has been for areas like Japan. My goodness - they have vending machines for everything - noodle soup, hot sandwiches, office supplies, magazines - if you can buy it - you can get it via vending machine...even ice cream!
Yes, I have a vending machine route that has been very successful to me over the years.
Tell us more. What kind of vending?? How involved do you plan to be?? Full time or part time??
What are your goals?? LUCKIEST
I have a neighbor who has been extremely successful at it. His major challenge is planning for and managing costs. The price of gasoline obviously has an impact on profits, and that has been a tough cost for anyone to predict. Likewise, the products he distributes are directly impacted by rising transportation and labor costs, and he can't always predict the resulting increase in wholesale prices. Unlike most retail operations, he can't make minor price adjustments as those increases occur -- he has to raise vending prices in increments, and there are psychological "pain points" where we just won't put that extra dime or quarter into the machine. So his profit margin gets squeezed. Success seems to come from a) handling to the route with discipline (he's off and running in the morning before anyone else around here even wakes up), b) having a lot of well-producing machines in one place that's fairly secure (schools, office buildings, golf course, marina, etc.), and c) pulling machines out of locations that aren't producing. Good luck!
Just a follow-up . . . any of these responses helpful? Did you proceed with this business? Thanks.