An important thing to keep in mind when starting your own vending machine business is that, while it can deliver a big investment return, careful strategic planning is still required, or else it will fail dramatically.
And the key point in that strategy, is finding an optimal location where you can set up your vending machine.
There are only two things to keep in mind when searching for a good location for your vending machine.
- The location should have plenty of foot traffic around, or even nearby the area, so that it can achieve maximum visibility.
- The goods being sold in the vending machine should not conflict those being sold at a nearby retail store (if any).
To ensure that you get the maximum profits when setting up your vending machine business, try to secure an establishment which is still under construction. That way, once you’ve set up a contract with the owner or the manager of the establishment, you’re guaranteed that you’ll be the sole vending machine provider in that given establishment, which means you won’t have to face any stiff competition from any other vending machine owners, enabling you to reap all the potential profits for yourself.
And with those tips in mind, here are some of the effective establishments on which you can set up a vending machine.
- Auto Repair Departments
- Local Police & Fire Stations
Placing a coffee vending machine on either the lounge area or the break room of any hospital is recommended, especially for hospital employees who spent almost all day inside the hospital, as well as visitors who also wanted to take a coffee break. Plus, there’s absolutely no competition from the cafeteria of the hospital, so this is also a safe spot for your vending machine business which won’t put you into any kind of business conflict.
Visitors who usually get their automobiles repaired via these departments usually have to wait for a long time for their service to be completed, therefore, a vending machine would be popular during these cases. Since while they’re waiting, they would usually search for a snack, some beverages, and even some candies, so having a vending machine which offers these products will not only be of great convenience for the automobile customer, but will also be of a great advantage to you.
Setting up a vending machine right around an office environment is only effective if the office has around 80+ employees on it, which also means more foot traffic around it. Anything fewer than that, might cause the products in your vending machine to become stale overtime, especially if you’re serving consumables.
Your vending machine business can also double as a public service if you set it up around these establishments, especially for serving coffee and other energy drinks. Law enforcement officers and firemen will always have a graveyard shift, so they’ll always need that extra energy boost in order to keep them awake and ready for any emergencies that may come across.
There are much more perfect locations on where you can set up your vending machines, like parks, or even nearby retail stores and other big establishments. The key is that any place that is being passed by lots of people, are good places to set up a vending machine.
Victor McNamara works at Vending World. Vending World is a leading distributor of used vending machines. They have sold vending machines since 1968 and can fill almost all of your general vending machine needs.