Vending machines are just that, machines that vend products (mostly delicious sweets and soft-drinks) for our convenience. But how do they actually work? What are the little known facts about our Vending Machines in Brisbane? We’ve all wondered to ourselves about the local vending machine but we’ve never asked anyone about it before.
According to the Business Dictionary, “a vending machine is an electronic machine used to dispense a product to a consumer after a certain amount of money has been put into the machine." There is a lot of literature on the benefits of vending machines for entrepreneurs and business owners alike.
By far the number one question is whether or not a vending machine can make you money. A vending machine can give small business owners real extra income without cost. Most vending companies do not charge for placing machines in a business, and they split the proceeds with the small business owner. Vending machine providers generally do not allow a small business owner access to the money collection vault and reserve access to approved vending machine mechanics. These individuals visit on a weekly, biweekly or monthly basis. It is very important for profitability that vending machines remain stocked. If your machine runs empty, money will be lost, and that is a guarantee. To avoid an empty vending machine it is important to realised that all vending locations will have a different usage. These fluctuations can be determined by season, whether its freezing cold and an iced cold drink is the last thing on someone’s mind or scorching hot and everyone is dying for a coca-cola, or demographic.
If you are considering investing in a vending machine make sure you weigh up the initial investment costs and the ongoing expenses you will have to pay. The initial investment when running a vending business includes the cost of the machine and the initial stock to fill it. Machines can be bought new or refurbished. The initial investment required within this industry can fall anywhere from the low thousands to the hundreds of thousands of dollars. Did you know that a gumball machine is considered a vending machine?
Ongoing vending machine expenses may include, general liability insurance and the cost of keeping the machine well stocked. Monthly rental or commission payments might need to be paid to the business owners where you place your machine. This is not always an expense vending machine owners incur. These location royalties can range anywhere between 5 and 10 per cent and sometimes up to 20 per cent. Transaction fees are not something you will necessarily take into account, but if your machine takes card, then you must expect that there will be transaction fees.
The amount of servicing a machine will need is dependent on several factors, including where the machine is located and how often it is used. Maintenance expenses include the cost of the parts that you have to purchase and of course the labour costs. Make sure you have a warranty. Distributors and franchisors typically will offer at least a limited warranty to cover issues that arise from normal usage for set number of years from the purchase date. Even if your machines are in good running condition, it’s wise to have regular maintenance checks to help prevent larger problems in the future.
If you would like to find out more about installing a vending machine in your Brisbane office, contact Benleigh Vending systems on 1300 629 153 or visit their website http://benleighvending.com.au/.
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