Entrepreneurs today seek business ideas. Many of us think a Vending machine would become profitable for business. We think providing our customers an additional way of purchasing will amount to additional revenue. But that is not completely right. In order to make it a successful business, there’s a lot required. Like, do we have enough money, what products to keep, what will be the perfect location, etc. How far do we think we are right, let’s see? Here are the points below that talks about the things to keep in mind before buying a Vending machine.
You must be aware about the these points thoroughly:
Do you have enough money?
As you know, cost per vending machine is around Rs. 1.5 lac to Rs. 2 lac. If you have that much money and time to invest in buying a Vending machine, you can very well be able to set up the machine initially. But that’s not enough. Starting a vending machine business may not be as costly as other businesses. It however does need some amount of investment going up to Rs. 3 to 4 lacs.
Are you aware of the products?
You should prior be able to decide the products that you are going to use in your Vending machine. Products such as dairy, foods and beverages, grocery, newspapers, etc. A product plays a very important role in a Vending machine. It should be decided as per the niche. This is done in order to make business profitable.
Have you selected the location?
Choose your location wisely. Setting up a Vending machine just like that won’t be helpful enough. In order to generate good revenue, location plays a very important role. The purpose of starting the vending machine business is pre-defined. Hence, one must choose a location which can make you achieve your goals. Few best locations to install a vending machine include apartments, hotels, large scale offices, retail stores.
Are you aware of technicians?
A vending machine is after all a machine. So, it is obvious to get some technical as well as hardware failures. Make sure you have a good network of technical experts in the Vending machine industry. This helps in keeping the machine going smoothly and hustle free. A vending machine requires regular updating. Let your technicians know the function very well. If the machine is left unattended, you will have to face a loss.
Will your vending machine keep the place clean?
If your vending machine includes food products or any packaged product, it is your duty as a citizen to make sure that the area is clean. You should keep a bin near the vending machine so that no mess can be made. Installing a vending machine is just not enough. Taking care of the surroundings nearby is equally important. You also have to take care that the machine is clean. It can only serve the purpose of consumers if it’s clean.
Do you have a license?
Before starting a vending business, it is important for you to obtain the license to operate. FSSAI gives the license to operate vending machine. Vending machines are a technological advancement that helps businesses in money making. The formation of machine is such that it can accept any payment mode. This makes the machine operator require an FSSAI certificate. Only a valid license will allow you to run such a machine in public.
These following are the points that suggest the idea behind what are those things to keep in mind before buying a vending machine.
A vending machine business is a ready-to-do business. All you need is a machine, products and some network with agents. The easy it sounds, the difficult it gets if not done properly. One must consider the points mentioned above before starting a Vending machine business. A vending machine business requires you to make a uniform decision. Every step should be accurate, in order to get fruitful returns from business.
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