I want to start a vending machine business (loan, financial, paycheck)

[vending queen]

Hello Everyone I would like to start a vending machine business. I'm a single mom trying to supplement my income . Please share any advise becasue i have got to make this work.

[C2H (ComingtoHouston)]

I thought about doing this. are you tryn to start handful candy vending or snack/soda vending?

[Texas User]

Originally Posted by vending queen

Hello Everyone I would like to start a vending machine business. I'm a single mom trying to supplement my income . Please share any advise becasue i have got to make this work.

Same here. I submitted a form at this website. I just have to return their call.

[chris_ut]

Be careful, most of the vending machine "business opportunities" you see out there are scams.

[Texas User]

Originally Posted by chris_ut

Be careful, most of the vending machine "business opportunities" you see out there are scams.

How?

[stepside454]

alot of these so-called vending machine oppertunities truely are scams. Often times the machines are very old & obsolete, or they maybe new & are of poor quality, some off brand that you cant find parts for, sometimes cost more to repair than to replace.
Sometimes the locations the machines are in have very little volume, sometimes the locations are gauranteed high commisions, that you werent told about, & next thing you know they want to know where there commision check is ?
Sometimes, part of the agreement is that you have to buy all your product from whoever you bought the business from.
Sometimes the locations that you paid for in the sale are about to be lost. for example, one of the locations is a electronics warehouse. The current vending operator lost the contract for that location, & well be replaced with a new vendor in a few months. However, you most likely well never be told about that, otherwise, you wouldnt want to pay for that.
Ive been in this business for 20 years. Ive seen alot of crooked people come & go, & alot of good people get robbed because they had no clue what they were buying.

[kinkytoes]

Yeah, maybe you can start a "We'll Help You Start a Vending Machine Business" business!

LOL. Sorry I know how you feel, but if you're in bad financial straits and that's why you want to start a business, you may make a bad decision. Also, if you don't have cash RESERVES then you can't afford to start a business. Those are facts.

I have some successful friends, and I also know several people who have failed at business including myself. I have had an unsuccessful business in the past and I have a successful business now.

Before you start:
1. GET BACKUP money for 3-6 months. This can be a loan, money from parents or extra money from your "day" job. You WILL lose money for a while.

2. Make a Business Plan - How much EXACTLY will machines cost? Then add 20% for unexpected expenses. Where will you put the machines? Where EXACTLY will you get the supplies and how much will they cost? How much will you make a week?

3. Make a Cash Flow Plan - You will need this since you won't get business revenue "regularly" like a paycheck.

Do all this and you may be successful.

If you're doing the "business" because you're poor and you need quick money, maybe a part-time job would be a better option. A successful business needs a BIG investment in money and/or time.

[HealthyVending]

I've read that the three most important factors are location, location and location. I disagree. Soda machines and snack machines are getting pulled out of schools at an alarming rate. I actually think this is a very good thing. Obesity in the United States is out of control. I recently bought a few machines from HealthyVending ( [url=http://www.healthyvending.com]Healthy Vending[/url] ), and I am finding that a healthy selection makes it easy to take good locations from other vendors much of the time. When you pitch to management that too much sugar and junk food effects performance negatively, and healthier foods improve it, they are usually ready to sign on. The three major healthy vending machine companies that I looked at before starting a vending machine business are all growing even as the economy weakens. I think that is a pretty good sign that they will last.

[samston]

hmm... well quite a few things need to be done.

- sit down and brainstorm your concept. OK, so you want to run a vending machine business. But who would your target customers be? Would you be making the machines, or purchasing them from another firm? What kinds of foods would you sell? Chocolate bars? Potato chips? Or health foods?

- Draw up a credible business plan, which you would use to convince funders (like banks and other financial institutions) that your venture is worth investing in.

- Learn and read up on basic accounting (both financial and management), marketing, etc. you would need these skills to apply to your business.

It sounds like a lot, but running a business is quite an intensive activity. If one has a good idea though, the rewards can be worth it (and not just monetary/financial in nature).

Good luck!

[jordonwon]

There are three important considerations: location, location, and location. Don't forget about security, the average person is unforgiving if a machine robs them of their money.


___________________
FindSavings is the site to go to find the latest deals for The Childrens Place.