Vending Franchise Opportunities
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Trends and Facts About Vending Franchise Opportunities
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It’s no surprise that as society has become more on-the-go and convenience-oriented, the vending machine industry has grown. Although there are franchises in this industry, retail vending machines are typically not a franchise operation but fall under the heading of a business opportunity.
On top of the cost of the vending machine itself and the cost of the stock, the owner most often pays a rental fee for the location of the machine, and any other expenses associated with owning the equipment such as maintenance.
Quick hits about vending:
1. As with all retail merchandising, location is everything in the vending machine business. The more foot traffic that passes by the machines, the higher the sales potential. Having the right product at the right place is the key to a successful vending operation.
2. There are many advantages to owning a vending machine business. Vending machine operations typically have a low start-up cost, low working capital requirements, and low overhead. In addition, vending machines have the potential to make money around the clock without an owner present.
3. With Americans becoming more aware about junk food and obesity, machines that offer healthy snacks and drinks are proving popular and profitable. Coffee is another booming vending segment.
4. DVD kiosks are an area of vending business expansion as are massage chairs, which are placed in high traffic areas like airport terminals and shopping malls. Because these machines are premium offerings, they can charge more than standard snack machines.
5. To remain competitive vending machine operators will have to invest in technology to improve their machines' usability and appearance. A large part of this technology will be geared towards cashless payment options.
Before buying a vending machine, consider the time and costs involved in servicing the machines.
Some machines require minimal effort to run, and can be restocked quickly with bulk merchandise, like candy, less often. These usually sell lower cost items in larger volume.
Other machines require more time to refill and sell higher priced merchandise, like different food stuffs at different prices. These machines will require more frequent restocking and care. Before you buy, the first priority is finding a good location and gaining an understanding what products will sell best there.