Vending Machine Business – Pros & Cons
Vending Machine are a great Passive Income business so long as you know what is involved and you have the right location. Here are the Pros and Cons of owning a Vending Machine Business:
PROS:
- Flexible – The great thing about a vending machine business is that it’s flexible and you get to work your own hours. If you have a full time job you can always fill the machine either before/after work or on the weekends.
- Easy to Manage – Vending Machines are one of the easiest businesses to manage. All you have to do is fill the machines on time and collect the money. If using a card reader software the money gets transferred to your bank account directly.
- Passive Income – As I mentioned before, Vending Machines are a great Passive income business. You have to fill the machines once or week or fortnight and it makes you money in between filling the machine.
CONS:
- Location – Like real estate location location location is the key to a successful vending machine business. If your machine is not located in a busy or high traffic area there is less likely you will make many sales. Which in turn can result in your items expiring and loss of money.
- Hand On Job – Filling the Vending Machine is a very physical job. There is a lot of heavy lifting to do and if like my machines if you have to carry your stock up the stairs it can be really tiring and not particularly good for you back.
- Additional Expenses – There are expenses that I wasn’t even aware of when I started my Vending Machine Business. Like the monthly charges for using Software for the card reader. Companies charge you for finding a locations if your current site is not performing well. Delivery charges for moving your machines between sites or storage of the machines if you have been asked to remove your machine and don’t have a new site or anywhere else to store it.
Like any business Vending Machines have their own pros and cons so just ensure to do your research before you go buy a new one.
