Vending Machine Business .... A Good Idea?
What do you need to know before you answer the ad in your local newspaper about automatic vending machine sales? Are they rip offs? How can you be sure you're getting a good deal?
The ads for business opportunities are everywhere. In newspaper classifieds, magazines, radio commercials, and late night info-mercials and they seem promising. After all, how many times a week do you buy a can of soda from a vending machine? However, here are some words
of caution before you embark on a seemingly profitable and easy career in vending machine sales.
Things to be wary of when investing in the opportunity of a lifetime:
WHAT ? Are they selling you an actual business, a franchise or just a machine? And once you have it,
what do you do with it? You can’t just plop it down anywhere you want.
WHERE ? What kind of locations are they suggesting you place your vending machine in? As with the real estate business, when it comes to vending machines it’s “location, location, location” that’s
important. You can’t hope to make any money in a bad location and, in fact, may have to pay for repairing the machine if it’s vandalized.
ELABORATE UPWARD PROFIT CHARTS Those who maintain vending machines are hard workers, not millionaires. If Joe down the street has been operating his father’s vending machine business for thirty years, lives in a modest house and drives a modest car, what makes you so sure you’re going to be rich beyond your wildest dreams in a few months?
1-800-NUMBERS Most reputable businesses don’t sport 1-800 information lines where a recorded message from Bob, the company president announces that “you, too, could be
on the road to financial freedom!”
PROMISES TO REPURCHASE YOUR MACHINES I’m sorry to say that by the time you realize you can’t make any money at this, the guy who sold you the machines is usually long gone.
GUARANTEES Although manufacturers of vending machines offer warrantees on the equipment they manufacture, the salesperson who actually sells you the machine has no
authority to promise you anything. In any case, manufacturer warrantees are for parts and the structural integrity of their machines. There isn’t one vending machine manufacturer who guarantees that his machines will sell what’s in them.
Some people have made their fortunes in vending machine operation, but it usually involves as much, if not more work than the job you have now. You must keep the machines stocked with fresh items, keep them serviced and in working order, and satisfy complaints from those who use them. In reality, it takes much more than the “8-10 hours per week” to make a thousand dollars a week as the ads