OK, so it is time to continue with my lessons, and today we will talk about how to start a vending machine business . So far I hope you read my 2 previous posts about :Start vending machine business and Starting a vending machine business when I explain how important is to think about the location of your vending Machine and to analyze and take as serious as possible the traffic and the competition you will face when you establish your first vending machine business. Today I want to talk about some things that you need to consider regarding the product and the consumer.
With vending machines what makes the success or the failure are little details. Let me give you a clear example:
If you setup a vending machine in a place where people simply don’t use cash, then “walking people” will face the problem of not having coins to purchase the products of your vending machine. Does this make sense? That’s why you need to understand that you need to think about the “natural” traffic of the area where your vending machine will be located. In my lessons about how to start a vending machine business, we need to understand that sometimes you can get benefit from a very successful business, in what I call, success by osmosis . This means you locate your machine in a place where people simply spend a lot of cash, and they use your machine, simply because they have the coins to spend.
A clear example is at the exit of a cinema, or near a toy store. Mum goes and buys a toy for the kids, has some spare coins, so then they buy a chocolate for the kids.
Later on my series about how to start a vending machine business , I will talk about the pros and cons of some sort of vending machines and things you need to consider about the PRODUCT you will be selling in these machines. Thanks for reading and if you have any question, feel free to post it here. Good luck guys!
