Doesn’t everyone like picking out snacks and accessories from vending machines? That is one of the reasons why vending machines are in demand today. People enjoy the experience of shopping from a vending machine without any human intervention.
As this market experiences rapid growth, why not capitalize on the opportunity? It can be an immensely lucrative side hustle or even a full-time operation. You can kick off the venture by purchasing a few vending machines and using your creativity to cultivate unique vending machine ideas.
Now the question is how much it costs to start this business. Initially, you will need money to buy the machines and their stock. Afterward, you must maintain the machine through repairs, restocking, and transaction money collection.
So, do you have any distinguishing vending machine ideas? If not, we have listed a few below, but before delving into that, let’s understand how to start a vending machine business.
How to Start a Vending Machine Business?
Many aspiring entrepreneurs have vending machine ideas but don’t know where to begin with their business. If you are in the same boat, look below.
Choose a Business Structure: As a vending machine business owner, you must acquire a few machines and record them as fixed assets in your financial statements. Next up, you must set up a limited liability company (LLC) or a corporation to collect profits legally from the business.
Study Your Market: Who’s your target audience? They are probably tech-friendly people who don’t mind experimenting with new things. Therefore, you must place the vending machine at an optimal location. In addition, you must consider your product before placing the vending machine.
Choose a Machine: Unsurprisingly, vending machines come in different categories and features, but mostly, they are bifurcated into three types – bulk, electronic, and mechanical. Bulk machines have the capacity for a single product in massive quantities. They are best suited for dispensing sanitary products. Mechanical ones can fit in multiple products but in a limited capacity. However, electronic vending machines are ideal. They have touch screens, allowing customers to place customized orders.
Stocking Products: You must find wholesale vendors to get inventory at an affordable price for stocking products.
Vending Machines Ideas for Your Startup
Let us pour in some unique yet practical vending machine ideas.
1. Candies & Sweets
Believe it or not, candies and sweets are the top-selling vending machine products, making them the most popular vending machine idea. Every public space, including the mall, has at least a candy vending machine surrounded by kids. Besides their popularity amongst the audience, candies and sweets have a long shelf life.
2. Pizza Machine
Pizza has become more like comfort food for most people. So, how about you sell it through a vending machine? Even though it is one of the unpopular vending machine ideas, it can do wonders if targeted to the right audience. You can add a customized option to enable customers to select their toppings. Make sure to place this machine in crowded places so people can grab their pizza on the go.
3. Organic Snacks
Lately, we have witnessed a trend towards a healthy lifestyle and eating. More people have switched to healthier snacks than junk food. You can look at this as a business opportunity and cater to this audience niche by offering organic snacks on a vending machine.
4. Jewelry Machine
A jewelry vending machine can be incredible if you want to cater to the masses. Although most vending machine ideas revolve around food, you can try something out of the box. You can display different daily wear earrings, bracelets, and necklaces on the vending machine.
5. Phone Accessories
Almost everyone needs phone cables, headphones, and other mobile phone accessories from time to time. You can also add power banks, phone covers, and pop sockets to give people different options. None of these accessories are big; thus, you can fit lots of them in a vending machine. This is another vending machine idea that doesn’t revolve around food.
6. Flowers Machine
People buy flowers for two reasons – decorations or gifts. And sometimes, traveling to a flower shop seems arduous. Selling flowers is a great vending machine idea to cater to this audience niche. You can place the machine in a restaurant or a popular tourist spot to get maximum traction and profits. However, flowers’ shelf life isn’t long, so make sure you restock them every alternate day.
What sells best in a vending machine?
Most vending machines sell essential items such as water bottles, energy drinks, and sanitary items. But you can also sell snacks, gift items, jewelry, ready-to-cook food items, and much more.
What are some vending machine ideas?
Popular vending machine ideas revolve around soda, beverages, doughnuts, tobacco products, and other non-essential items. Lately, scented candles and jewelry have also become famous vending machine items.
Are vending machines profitable in 2023?
Vending machines offer a high return on investment (ROI), and secondly, they are low maintenance, reducing your overhead expenses.
How much does it cost to stock a vending machine?
Depending on your products, each bag can cost $0.25-$0.75. Besides this, you must stock your machine with some change, so customers don’t face any trouble.
How much does a vending machine earn a day?
A well-placed vending machine can earn more than $100 per week. The earnings vary depending on your product and the vending machine’s location.
In 2023, the vending machine business will offer a highly scalable business opportunity with a stable income stream. It is feasible for the customers as they no longer have to stand in line in shops. You must think of unique and in-demand vending machine ideas to captivate customers.