Smart income is income that earns money while you do the things that enrich your life, such as spend time with family, travel, pursue your hobbies, or just relax. It seems like everyone is looking for a "job" such as this, yet most are stuck in the 9-5 living paycheck to paycheck. Some people have discovered the answer, and most of us walk by the answer several times a day, every day of our lives!
Are vending machines profitable?
If vending machines weren't a profitable business investment, they wouldn't exist in so many various locations. Not only do vending machines work to generate a serious profit, they work while you're away. On average, most vending machine owners spend about 15-20 minutes per week servicing their machines. The rest of the time, those machines are collecting money while their owners go on with their lives.
On average, a single gumball machine can generate an average of 4 vends a day in profits or $30 per month. Many gumball machine racks hold as many as 8 gumball machines, meaning their owners earn an average of $240 a month. Multiply this by the number of gumball machines you place around town and your earning potential is virtually limitless.
Are there any spots left to place vending machines?
You bet! While you're likely to find several soda machines on a single day of errands across town, there are plenty of profitable locations to place machines just waiting to be discovered. It's really a matter of your creativity and your ability to sell the value of a vending machine in any particular establishment.
By getting creative with matching the products you choose to stock your vending machine with to the location of the machine, you can turn a nice profit and capitalize on many untapped markets.
For example, many people have had success with vending machines that dispense mint gumballs in restaurants. Machines stocked with gum, candy, and small toys are very profitable in any location where families with children must wait such as hair salons, auto servicing centers, and photo copying centers. Any place where parents want to shop or browse such as a furniture store or a car dealership are also good locations to place machines. If parents can hand their kids a handful of quarters to keep them occupied for a time, they will. The profits prove it!
What's the start up cost?
The cost to get started with vending machines is surprisingly low. A triple vending machine can be purchased for as little as $110. The cost of your product depends on what you choose to stock your vending machine with, but buying bulk and selling in small quantities means low cost and high return.
Gumballs can be purchased for around $25 for a count of 850. Sugary candies like Mike and Ike's and Runts cost between $55 and $60 for a 30 pound case. Bouncy balls cost around three or four cents per ball. The best thing about vending machines is that you can try different products to see which are most profitable and apply your knowledge across the different locations where your machines are located.
So could vending machines solve your money problems? You bet! Most people begin by purchasing between one and three gumball machines or soda machines to get a feel for the process and then build up their machines year after year. Some smart and wealthy investors have hundreds of gumball machines that bring in business while they invest minimal time and enjoy their lives very comfortably. With such a low cost to invest in a business that has proven successful for decades, it doesn't make sense not to give it a try!