Is A Vending Machine A Good Side Business?
is a vending machine a good side business for someone that goes to school and want to make some money i can invest up to 5000 dollars in this idea, but i wanna some feedback. how much money should i offer to a establishment to let me place a vending machine? any tips ?
November 20th, 2009 at 2:03 pm
not a good business i think…
The following are some common tactics fraudulent promoters might use:
* Inflated profit projections, including elaborate charts that may have no basis in fact.
* Locator services, in which the company claims to employ an expert locator to find prime locations for its machines. The service usually ends once any establishment willing to have a machine on its premises is found, regardless of how many potential customers that area attracts.
* Training programs that are generally superficial or non-existent. And it should be noted that it is impossible to learn to be a successful vending operator in one or two weeks from an out-of-town salesperson.
* “Good deals” on machines, which may turn out to be machines sold for two or three times their actual value. Potential investors should be wary of buying any machine that they cannot look at in person since catalog pictures and descriptions may not tell the whole story.
* Repurchase plans, in which vending promoters offer to buy back inventory from the investor. Unfortunately, the promoter is usually long gone by the time an investor tries to exercise this option.
* Guarantees offered by sales agents often are worthless because the agent cannot be located and the manufacturer will not honor them.
November 20th, 2009 at 5:56 pm
If you have the means to transport and repair the machines and a place to put them and are able to fill them frequently it is an excellent business. Good placement is essential to get enough customers and little vandalism.
November 20th, 2009 at 6:24 pm
My dad knows a guy who does this sort of business and the guy says he makes VERY good money from it. I think that you shouldnt need to offer too much as if its there its most likely going to attract more people that are thristy and maybe after theyd buy items. Also i think a school is the BEST place to put one.