Prior to starting a vending business, you need to where and how to invest in your most important product - the vending machines itself. Before that, you need to ask yourself a few questions.
What kind of products will you be selling? Gumballs? Popular snacks or better yet, healthy snacks? The food supplies will narrow down your choices to specific vendors you want to work with.
In the vending market, there are a few ways to go about finding and purchasing these machines. Do take some time to do your research. Look at the various purchasing options. Go through the prices. Ensure that the companies or person you are working with are reliable.
As a vending operator for many years, we believe there are two most assuring routes all vending prospects should look at.Work with a Vending Company
For those who are interested in making the process of ordering products and ordering the machines as easy as possible, it's a good idea to look into the various companies that supply both machines and the products to fill them.Some of these companies sell the machines, but many only allow people to lease them. This can have its advantages and disadvantages but is an option to consider.
Those who are interested in the idea should contact the companies that they are interested in to find out more. Some things you may want to look out for are:
- Types of machines and their sizes
- Types of products
- Range of prices for the machines
- Provision of training
- Incentives and discounts
On top of those listed above, you should also get a sense of the company’s operations through your engagements with them. Are the potential companies transparent? Are they easily contactable to answer your questions? Different companies operate differently. It is always a good idea to understand the vending companies thoroughly before you commit yourself. This is extremely important especially when you are working with franchises because of the various restrictions they may put in place to keep the brand name.Work with a Franchise Brokers
If you are undecided, most vending owners would rely more on word-of-mouth recommendations. When this happens, you may want to look for franchise brokers who are typically like a matchmaker for your business.
They have worked with many franchises before and would know how to match your expectations to the right company. However, choosing to work with a franchise broker can be a hit or a miss. Their role is similar to a home realtor – not every realtor will provide professional services and recommend the right homes to you.
As such, before you decide to engage a franchise broker, you may want to ask them the following questions first:
- How long have you been a franchise broker?
- What are your franchise experiences like?
- How many franchises are in your portfolio and what industries are they in?
- Are you part of a franchise yourself?
Investing in vending machines is the first step to starting a vending business. It can be difficult but the key is to perform extensive research to minimize your business risks!