So you're interested in starting a vending machine business, but you
don't want to dip into savings? Well, I'm going to walk you through
what seems to be the best steps and how you can get started basically,
for free, kinda. At a high level, the concept is placing our vending
machine in a high traffic walking location that's fully stocked with
products that are priced higher than what you paid for, according to
nerdwallet. Yes, vending machines can be profitable, the average
vending machine earns $35 a week. But vending machines that are well
stocked and police in safe high traffic locations can generate over
$400 a month two, imagine if you became profitable, and then started
another and then another, that wouldn't really add up, right. And
the good thing is that it will be mostly passive income. So step one,
do your research. You started that already by watching this video. So
good job, the first thing you want to look at is the prices because
that would really vary from country to country. And that would include
the price that you would pay for, say, the machine, the vending
machine, and the snacks that you'd put into the machine. Also the price
that you would sell it. This is especially true if you're buying
local and not on a site like Amazon. But before that, let's just talk
quickly about the vending machine. Do you rent lease or buy? Now I
could be wrong, but in most cases, it seems much smarter to rent or
lease instead of buying mainly because less investment is needed
upfront. And the maintenance is also something else that you'll have to
think about if you're going to buy the vending machines. Well that's
the title of this video is how to start a vending machine business for
free. So buying doesn't really fit into that, even though it's still
not 100% free, but it could be which we will get into in a little bit. So
in buying it so then rent or lease. So as part of the research, make
sure and finally the cost of renting and leasing from the company that
you contact from the local company that you contact quickly. The
difference between the two options is really that a rental agreement
tends to cover a short term, usually 30 days while a lease contract is
applied to long periods, usually 12 months. All those six and 18 month
contracts are also common. And be mindful that some companies such as
vending group, have a lease to own programs, meaning that you can
purchase equipment at the end of your lease. As mentioned, your
research is important here because prices and services vary when you're
renting, you can easily find companies that offer vending machine
rental services by searching for vending machine rental in let's say
United States, well, you probably want to be more specific about the
location. But as you can see how simple it is, I just found
ventry.com. And that's for a UK option, or you have auto vending.com
which is an Australian option, also vending solutions.com. And that's in
the United States. That also shows some costing info, where you can get
a new soda or snack machine for about $125 a month with a 48 month
commitment. It also shows the various options and vending related
services offered. The next part of research is the price of the
products that you put into the machines whereby the easiest thing
is really snacks because everybody eats snacks, right? So you want to
find out the price you could sell those snacks at to remain
competitive versus nearby outlets selling similar products, then it's
to make sure you can get it at a cheaper price. There are many
options for this one, obviously the most popular one available worldwide
will be amazon.com. And the idea here is let's give an example where
you could simply buy a pack of 20 snacks at a discounted price of $20,
where it works out to around $1 per snack and buying them individually
would have costed two or $3, which is a price that you can sell it in
the vending machine so that you can make a profit. You can also find
wholesale prices by just simply searching in Google for wholesale
snack distributors, where you can purchase online and ship or find
someone in your country, which may also be a good option. Because you
can get products that people are already familiar buying. The next
thing you have to research is the amount of money that will you would
have to pay a business to please your vending machine
there for you to make money with it. But how do you find that out? Well,
there are many ways you can go about it. An easy way is to start by going
straight to some of the competitors. If you can easily find one online,
then just walk into a store and ask them about their vending machine.
You can just say that you're interested in getting one for your
business and ask Where did they rented or lease it from? I'm sure
it'll be easy to just give you a contact. So get that number, give
them a call and let them know you're interested. And what's the fee like
what is the fee per month? How do they charge getting this information
is important so that you have an idea how much you could judge step
to get a client but now you have all of the information that you need,
and probably more than enough information to get started. And it
makes a lot more sense to go about it like this actually getting a
client first because this way you'd give yourself more of a push. If you
have a store that is interested in getting doing business with you. So
go ahead and make a list of those stores and locations. That you can
visit, you can easily get the contact information on Facebook,
Instagram, the websites searching on Google checking in the telephone
directory. So contact them, letting them know what this is service that
you're offering, how this service will be handled and your flat rate.
Remember here that the aim is just to book one. So try to reach out to
as much as possible to increase your chances of getting booked. And
remember I mentioned in the beginning that the average vending
machine earns $35 a week. But vending machines that are well
stocked and placed in safe high traffic locations can generate over
$400 a month. But of course, it starts with one. So learn the
process, see what works, and then just repeat that might reinvesting
the profits. But right before you do that, how do you get the money for
this thing to start, because some moves to get this type of business
started cost some money, which doesn't necessarily have to come out
of your pocket. What I'm suggesting is this step three, use an existing
side hustle or start a side hustle to finance your vending machine
business for free. Let me explain, at least for the first few months
until it becomes profitable and more passive. Use the learnings from a
side hustle that you may have already to cover the costs
associated with the vending machine business. For example, let's say the
total amount of expenses works up to $500 for the month, which would
include rental of the vending machine, the wholesale snacks that
you have to purchase and the flat rate that you agreed on with the
business place that you're placing the vending machine in. That is to
make you some money. Let's say all of those things works up to roughly
$500 then what you could do is put aside money for the first few months
from your side hustle earnings, or start a side hustle like freelancing
for a service that you can offer based on your skills and experience
of course, or you could also start something simple, but with a monthly
fee, we can get paid more than $500 for the month. And that's by
managing social media clients, there's many things that you could
do. And that's if you don't have the funds already to invest in from the
start, but if you do, then why not give it a try. But hey, that is how
to start a vending machine business for free. You rent or lease a
vending machine, figure out what you want to sell what's in demand and
the best price you can get it choose a good high traffic location where
you could please a vending machine, buy the goods at the best price who
could sell it for high amount and use an active income side hustle
like freelancing or consulting. To start this semi passive vending
machine business for free. You know what, to get the funds to start the
vending machine business. You can actually use the method described in
this video on how you could create photos and graphics for free and
then sell them on our website where you can get paid $100 $200 $300 and
more in some cases. So check that out.