How to start a Vending Machine Business from scratch

Name: How to start a Vending Machine Business from scratch
Rating: 4.3 (8 reviews)

Starting, scaling and maintaining a Vending Machine Business

Created byJacob Wood

Last updated 3/2024

English

English [Auto],

What you'll learn

How to start a vending machine business from scratch
How to scale your route
Things you should know before starting
Mistakes to avoid

Course content

1 section • 10 lectures • 45m total length

Introduction1:30
Gain practical guidance to start a vending machine business from scratch, assess the landscape, identify good versus bad opportunities, and scale quickly while avoiding costly mistakes.
Getting started7:45
Learn to start a vending business by acquiring an existing machine on location via marketplaces, perform due diligence on sales, servicing, and relations, price by multiplying monthly sales by 12.
Once you have your first location7:17
Avoid installing a credit card reader on your first location to save costs and monthly fees, and be patient as you build trust and grow to multiple locations.
How to scale7:14
Scale your vending business by prioritizing referrals, using the vending exchange and Facebook Marketplace for leads, and leveraging warehouse delivery and warranties to secure locations.
How to secure high ticket locations2:31
Discover how to secure high ticket locations by entering the bidding process for universities, hospitals, and large office buildings, and stay diligent on bids, vending exchanges, and referrals.
Necessary Relationships5:48
Build strong relationships with customers, warehouse teams, and location managers to grow your vending business; keep deliveries smooth, avoid price haggling, and negotiate fair monthly flat-rate payments or commissions.
Drink machine or Snack Machine?4:44
Compare drink and snack machines, noting cost, maintenance, and restocking needs. Choose based on location and demand: drinks offer capacity but more upkeep; snacks are cheaper and easier to maintain.
Baseline needs for a good location2:12
Assess locations by targeting about 50 daily passers, verify employee counts and customer flow, ask discovery questions about past machines and competition, and prioritize steady foot traffic.
How big can you take your operation be?3:20
Grow your vending machine operation by prioritizing high performing locations in big cities, and trim underperformers as you scale to 20+ machines for strong monthly sales.
Final Message2:59
Take action to gain experience by pursuing leads on Facebook Marketplace and vending exchanges, learn pricing, and grow from one machine to a full route through warehouse coordination and referrals.

Requirements

An open mind.

Description

Learn to launch your Vending Machine Business from someone who built up their Vending Machine route starting with just 1 machine.

Over the span of the program, participants delve into the intricacies of this lucrative industry, learning everything from initial market research to operational strategies.

Whether you're a budding entrepreneur seeking a passive income stream or an established business owner looking to diversify, this course empowers you to turn vending machines into a profitable venture, one snack at a time.

Through interactive sessions and case studies, attendees gain insights into selecting the right locations, negotiating contracts, and optimizing product selection to maximize revenue.

The course will be broken down into the stages building up a route starting with how to land your first location. From there you will learn: what a good location looks like, when is it okay to offer a commission to the property, which relationships are important, and different ways of finding locations.

This course will cover at a high level the intricacies that most only learn by actually owning machines. From good moves, to bad moves. Do's and don'ts. This is a good avenue for those that are looking to make the first real step into the vending machine business.

Who this course is for:

For people that are curious about what the steps to starting and succeeding in the vending machine business are