Renting a vending machine is like borrowing a friend’s toy, but this friend helps you make some big money!
The concept of having a vending machine on rent is simple, find an excellent spot to install your machine, rent a machine with a reliable partner, and fill it with tasty treats.
If the spot is correct and your machine is dispensing the required demand, watch the machine work its magic!
So, if you are someone hunting for innovative business ideas, renting vending machines is a powerful new way to make money.
You will be boosting your business and expanding your income horizons simultaneously.
Let’s explore how you can do it.
How to Rent a Vending Machine?
Renting a vending machine involves a series of simple yet strategic steps. Here is an easy breakdown of the whole process.
1. Find a Location
Look around your town or city.
Find places where many people go, like schools, offices, parks, and shopping complexes.
These are great spots for your vending machine because a lot of people will see it.
For identifying your target market, keep the following points in mind
- Demographics
- Foot traffic
- Consumer preferences
- Competitors
This analysis will help you tailor your vending machine products to the taste of your target audience.
Acquisition of the location is another important task in securing your prime spot. Property managers or business owners can provide you with assistance here.
2: Find a Vending Machine to Rent:
Research well and connect with a reliable and reputable vending machine supplier.
Choose a supplier that offers a variety of vending machines equipped with features like:
- Latest technology
- Cashless payment systems.
- Inventory tracking
- Attractive display UI, etc.
Many manufacturers and suppliers including Wendor offer you options for customization as well.
So, discuss your requirements with your supplier in detail.
3: Choose your Products:
This is the fun part, picking what to sell in your machine.
Think about what people like- chips, candy, juice, healthy snacks, water bottles, soda, etc.
Your product selection needs to suit your location’s demographics and preferences.
Interestingly, snacks and beverages despite being popular vending products are not the only ones.
Vending machines these days are dispensing health and care products like sanitary napkins, cosmetic products, etc.
Around the globe, Books, electronics, and freshly squeezed juices are other popular vending products.
4: Install and Maintain:
Once your machine is filled with the required products, your supplier will help you put a price on each snack and install it in the required place.
After installation, regular maintenance and restocking are vital for customer satisfaction.
Thanks to the latest technology, remote access to your existing stock, running status, sales data, etc. can be availed on your phone anytime, anywhere now!
Advantages of Having a Vending Machine On Rent
Renting a vending machine can be a game-changer for you. The reasons are numerous.
Let us explore these advantages:
1. Less Work, Big Rewards
You can be sitting in your office working on your next business pitch, while your machine will be earning bills for you in some shopping mall far away.
You don’t have to stand beside your machine all the time.
Hence, vending machines provide a constant income flow with the least involvement from your side.
You can analyze your sales data, and track your stock information, all through a remote dashboard of your machine.
2. Higher Sales, Higher Profits
A simple logic of 24*7 sales mean higher profits than 9 to 9 shop.
The diversity of products and super speedy multi-vending processes further increase the sales rate.
Most importantly, if you can escalate your machines into a franchise chain, then the profit coming out from economy of scale is huge.
3. Low Input Costs: Land, Labour, and Capital
Vending machines require the least amount of all these three.
Rent of an extremely minimal floor area, unlike a full-fledged shop; nearly zero labor cost.
And one-time capital cost of the machine are a few factors that make vending machine business so profitable.
Now, if you want to give wheels to these already existing advantages, then choose good locations for your vending machines.
Educational institutions, corporate offices, and recreational centers like parks, sports facilities, etc., are some of your good options.
The landscape of entrepreneurship is evolving so fast that embracing innovative ideas like renting vending machines is something that keeps you alive and ahead.
To further help you navigate through vending machine business, Wendor offers a trusted and long-lasting partnership.
