Ever thought about diving into the vending machine business? I did, and it’s been a rollercoaster of a journey. From the allure of recurring cash flow to the challenges of finding the right locations, I’ve seen it all. Let me take you through my one-year adventure in this industry.
Why I Chose the Vending Machine Business:
The vending machine industry caught my eye because of its promising returns on investment and the potential for steady cash flow. My past experiences were mostly digital, like Amazon FBA, blogging, and YouTube. But the idea of a physical business that could provide consistent income was too tempting to resist.
The Good, the Bad, and the Ugly:
The vending machine business has been mostly positive for me. Here’s a breakdown:
Pros of the vending machine business
- Recurring Revenue: The cash flow is consistent, and I love it.
- Low Expenses: Most repairs I’ve encountered cost less than $100.
- Flexibility: If a machine isn’t performing well, you can move it to a better location.
- Scalability: It’s easy to expand once you have a good location.
- Simplicity: The business is straightforward to operate, and you can even get family involved.
Cons of the vending machine business
- Seasonality: Revenue tends to drop during winter months.
- Location Challenges: Finding the right spot is crucial, and it’s not always easy.
- Repairs and Service Calls: Machines will occasionally need repairs, and customers will have complaints.
- Product Expiry: Unsold products can go past their best-by date, leading to customer complaints.
The Reality of Running a Vending Machine Business:
While the business has its perks, it’s not all sunshine and rainbows. You’ll have to deal with service calls, repairs, and sometimes, customers who aren’t the easiest to please. For instance, I once had a customer relentlessly contact me over a quarter he lost in one of my machines. It’s these small challenges that can sometimes feel bigger than they are.
Is It Worth It?:
For me, the vending machine business has been a learning experience. It’s a good business, but like any other, it comes with its set of challenges. If you’re considering diving in, weigh the pros and cons and decide if it aligns with your goals and lifestyle.
The vending machine business is a unique blend of physical and digital, offering a chance at steady income with its own set of challenges. If you’re up for the adventure, it can be a rewarding journey. And if you ever need advice or have questions about the industry, feel free to reach out. Here’s to your success in the world of vending machines!