One reason why vending machines are such a good business is that even if a few people use them regularly they can yield a good profit, and if many people use them regularly then they are a real cash cow. |
Small offices can be good locations so when you place your machines, don't discount a possibility just because there are only twenty people or less in the vicinity. On the other hand, a location can have a lot of foot traffic but only get a few occasional sales. Now we'll take a look at a few places you might want to try to place your machines.
Many people like to snack at work, especially when the day is going slowly for them. They'll be glad to have a vending machine close by as a convenience, even if there's a store nearby. Offices and factories have a lot of potential for a vending business. Though factories aren't as numerous as they used to be, getting one of your machines in one would be a real coup especially if there was more than one shift working. Blue collar workers typically use machines more than white collar workers do. The great thing about placing machines into working environments is that you will get regular, even daily customers.
Apartment Blocks and Hotels
Putting one of your machines in a place where a lot of people live or stay overnight can be a great decision. Acquaint yourself with real estate managers who deal with properties and can help you get a foot in the door. Statistics show that vending machines in higher income buildings don't do as well as those in locations with a lower socioeconomic demographic. Putting your machines in a common area like a meeting room or laundry room where people gather and spend a fair bit of time keeps them more secure as well as attracting business.
It's a bit more difficult to locate within shopping centers, as most malls deal with large companies in order to get commissions and some support their retailers by refusing to allow vendors to place their machines there. It never hurts to try, though.
Schools and Universities
It's not easy to break into the educational sector but it can be very lucrative if you are able to. Schools typically have long term commitments to large vending companies and schools with students under 18 usually require that the machines serve snacks that are healthy and low calorie, which can mean more expense and a lower profit margin (having to provide fruit juice instead of soda for example). You'll also have to offer an attractive commission so you may want to leave these accounts to the big companies while you are growing your business.
Retailers and Service Providers
Most stores like to sell their own products but the possibility of a commission could change their minds. Barbershops, clinics and small stores are all lucrative locations for vending machines and their owners may see it as an easier solution than the hassle of selling their own refreshments.
You can place a machine in or around nearly any place that the public congregates or passes through on business. Car lots, public service facilities like courthouses, recreational areas like tennis courts and swimming pools are all great locations for your machines. Lounges, bars and parks are also lucrative possibilities. Locations to place your vending machines in are limited only by your imagination or by your willingness to make the deal attractive for decision makers.
Look around and see where other machines are located, especially those that are low on product. You'll soon get a feel for the best locations for the highest profit margin.
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