Is The Vending Machine Business Dying? (Explained) -

The vending machine business has been a side hustle for many people to make additional income over the years. Many people are still starting their own vending machine business till this day on a daily basis. One question that comes up often is whether or not the vending machine business is dying.

In this blog post we will go over the vending machine business and the possible future of this industry.

Are vending machines still a good business?

There are still people making a profit using the vending machine business model, but there are also many people that don’t. The main reason why the vending machine business is working for some, but not for others is due to location.

Profits can be anywhere from $75 per week to over $600 per week. The difference in the profits is the location of your vending machines, how many vending machines you have, and whether or not you are servicing the machines daily.

It takes time to find good locations for vending machines. You can become an expert on finding good locations by looking at maps for foot traffic and doing research on other businesses in the area.

What is The Future Of Vending Machines?

I think it’s safe to say vending machines aren’t going anywhere any time soon. What you can expect is for vending machines to get more advanced as time goes on.

There used to be only vending machines that took change or dollar bills. Now with the swipe of a card you can purchase anything from the average vending machine.

For the person who starts a vending machine business the future is looking up because it’s getting easier to track inventory without having to go to each vending machine.

Vending machines that use touch screens will become more common, as well as vending machines that have LCD displays instead of the old LED ones.

The vending technology will go even further than just the screen. With everything having an algorithm I think it’s safe to say vending machines will become more efficient as time goes on.

Vending machine companies are developing newer and better vending machines that use less power and treat customers to a more personalized experience.

The future is looking positive for the vending industry as long as new technology keeps making its way into our lives.

How Do Vending Machines Make Money?

Vending machines make money by selling products. The more products that are sold, the more profits that can be made.

The amount of money you will make from one vending machine varies based on your location, how many products are in your machine, and how often you service your machine.

Are Vending Machines Difficult To Operate?

Vending machines can be difficult to operate if you don’t know what you’re doing. You need to know how all the components of the vending machine work, like the lock mechanism, coin mechanisms, bill validator, and monitor. The more machines you have, the harder it can become to keep track of them all if you are not organized.

Where Should You Put the Vending Machine in Today?

The best places to put them are places you know people will always be no matter what. Check out the list below:

Hospitals and Health Care Centers:

Hospitals and health care centers aren’t going anywhere any time soon. No matter what happens, people will always need to be cared for medically.

Hospital corridors are a great place to put vending machines in places they will always have people walking by them.

Apartment Buildings:

Where people live is always going to be a high traffic area. You won’t have to worry about things

Colleges and Universities:

Although many college students are studying from home, the campus life will never be a thing of the past. Colleges and universities are a great place to put vending machines because there is always going to be foot traffic around dorms and other buildings on the campus.

Hotels:

Placing vending machines in hotels is another great place because you’ll always have people coming in and out of the hotel to get refreshments.

Warehouses:

With much of the retail industry going completely online, warehouses are a great place to set up vending machines. Workers need a refreshing drink or even a snack during their shift.

Auto Shop Or Car Dealership:

People always need to get their oil changed or need a quick fix for a broken down car. Auto shops and dealerships are great places to put vending machines because people often snack when they’re bored. Waiting for your car in the waiting room can be a drag, so vending machines are a quick way to get rid of all that tension.

Stay Away From Office Buildings:

The world is steadily moving towards more remote work, and with that comes less people in office buildings. For now at least keep your vending machines away from office buildings.

Keep in mind there are different types of vending machines. You want to put your vending machine in a spot that has the maximum amount of exposure accord to what you’re selling out of your vending machine.

What Are the Different Types of Vending Machines?

Popcorn, Fresh Coffee, Nuts, Candy, Soda and Juice are all the most common vending machines you will see out there. However if you do enough research you can find specialty machines for different products.

Conclusion:

So although the vending machine industry won’t be what it originally was, it seems as if it is heading in a more advanced direction. That being said I don’t think the industry is going anywhere any time soon, but you never could be 100% sure.

If you have any experiences with vending machines leave your comments below.

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Is The Vending Machine Business Dying? (Explained)