Business For Sale & Franchise Search Engine  
My Account
Search Businesses For Sale


to refine your search results use advanced search  
Franchise Opportunities

Sell Your Business, Starting at $20.99 per month
Small Business Resources > What to Avoid When Starting a Vending Business

What to Avoid When Starting a Vending Business

Having a prosperous vending machine business is something that many people dream of. After all you get the pleasure of being your own boss and setting your own hours. If you go about it in the right way this can be exactly what you dreamed of for so long. Unfortunately though this dream becomes a nightmare for some who start a vending machine business. This is because they made common mistakes that you can avoid.

One of the biggest hidden dangers of operating a vending machine business is that it may not end up being successful for you. Now, you are probably reading this and thinking that there is no way you will let that happen. Well, you may not have a choice because these hidden dangers of the business I am talking about suck you in. It is like hitting a patch of ice on the highway that you had no idea was there. Before you know it you are spinning fast than then you crash hard.

The best thing you can do is guard against these hidden dangers in the vending machine business so they won't affect you. I am telling you now that finding quality locations for your vending machines isn't going to be easy. The main ones you can think of probably already have them in place. You have to get the permission of the owner of the location too before you can put one in place. It isn't as easy as just showing up one afternoon and plugging it in.

The other barrier you are going to run into is that the majority of the locations you have thought of to place your vending machines don't allow vending machines in their establishments. Now, you may be able to use this to your advantage if you have some excellent communication skills. Before you waltz into the establishment though and ask if you can place your vending machines there (and they say no like they do to everyone that asks that question) you need to practice and perfect your approach.

Do your homework before you go in for negotiations with the owner of the location for your vending machines. You have to know what the highest price is that you can offer them as a monthly fee for placing your vending machines in their establishment. Of course you want to give them as little as possible but you can't give them too much and then end up with little or no profits from your endeavors

If they want a very high fee in order to secure your vending machines in the locations try another approach. Explain to them that you are just getting started in the vending machine business and you really don't know how profitable it will be. Ask for them to consider a percentage of your profits instead of a flat rate. This way you don't end up owing them money if the vending machine location turns out to be a flop

Make sure all the information relating to the placement of your vending machines is carefully documented in a contract that both of you sign. Make sure you hold up your end of the deal as well. If the owner of the property states that you can only fill the vending machines when his business is closed then honor that. Don't let him catch you out there filling them up in the middle of the afternoon as customers are going in and out of his establishment.

Always try to keep the terms of your vending machine contract open as far as the length of time. While you hope this will be an excellent location for your vending machine you want to be able to move it should that not be the case. You want to be able to explore other options as well so don't commit yourself to any long term relationships in the beginning of your vending machine business.

About the Author
Robert Farnham built a profitable vending business after starting totally the wrong way. He now writes about building a vending machine business and the pitfalls to avoid. Visit his website at My Vending Uncle for more.

Related Resources
Buying a Business
10 Reasons to Buy a Franchise
12 Laws of the Business Buying and Selling Jungle - PART I
12 Laws of the Business Buying and Selling Jungle - PART II
Advantages & Disadvantages of Owning a Franchise
Advantages and Disadvantages of a Start-Up Business
An Overview of Today's Business Opportunity Market
Auto Franchises
Become a Franchise Consultant
Business Brokers
Business Brokers – How They Can Help You
Business Buying Tips
Business Lawyer
Businesses for Sale by Owner
Businesses under $10,000
Buy A Business Using This One Simple Skill
Buy A Business With No Money Down?
Buying a Business - How to Buy a Business
Buying a Business Steps
Buying a Business: Using An Outside Inventory Company
Buying A Franchise
Buying a Restaurant - What You Need To Know
Buying the Right Business
Coffee Franchises
Dispelling the Common Myths about SBA Financing
Do Home Based Businesses & Franchises Really Work?
Do What You Love or Love What You Do
Do You Need Bricks and Mortar Anymore?
Financing The Deal
Finding A Business To Buy Tips
Food Franchises
Forget The Asking Price of A Business For Sale
Franchise Alliance
Franchise Information
Franchise Lawyers
Franchise Reviews
Franchises - What To Consider
Free Small Business Magazines
Getting Into Business: Don't Start It! Buy It!!
House Cleaning Franchises
How Do I Obtain Capital To Invest In My Business Start Up
How Much Does a Franchise Cost
How To Buy A Business - Part 1
How To Buy A Business - Part 2
How To Buy A Business At A Great Price CD
How To Buy A Good Business At A Great Price
How to Make More of Your Franchise
How To Value A Business
Hurricanes Affect the Value of Florida Businesses
Little-Known Business-Funding Option Awaits Your Discovery
Low Cost Business Ideas
Negotiating The Price of a Business for Sale
Questions to Ask a Franchisor When Buying a Franchise
Reasons to Use a Franchise Consultant
Restaurant Start-Up Guide - Start Your Own Restaurant
Selling Your Technology Company - Why Earn Outs Make Sense Today
Small Business Loans for Small Business Owners
Starting a Small Business in Less than 24 Hours
Ten Common Mistakes Made by Franchise Buyers
The Advantages of Buying An Existing Business
The Advantages of Unsecured Business Loans when Buying a Business
The Complete Guide to Buying a Business
The Differences Between a Franchise & Business Opportunity
Things To Consider Before Buying A Business: Be Careful
Three Signs Of A Franchise Winner
To Franchise or not to Franchise
What is a Letter of Intent?
What is an E-2 Visa?
What is Cash Flow?
What is Due Diligence?
What is EBITDA?
What is FF&E? - Furniture Fixtures and Equipment
What Is My Business Worth? Learn How Small Businesses Are Priced
What is Seller's Discretionary Cash Flow?
What to Avoid When Starting a Vending Business
What to Investigate Before You Buy a Business
What to Look for When Buying a Business
What to Look for When Buying an Online Business
What to Think About Before Buying a Franchise
When To Start The Due Diligence Process?
Wholesale Distribution Start-Up Guide - Start your own Wholesale Distribution Business
Why Buy an Existing Business?
Why Buy an Existing Business?
Work From Home Scams
©2024 MH Sub I, LLC dba Internet Brands
Broker Membership | Terms Of Use | Financial Disclaimer | Privacy Policy | Cookie Policy | Resources | Franchise Opportunities | Website Traffic Ranking | Sitemap | Careers | Contact Us | Manage Preferences Your Privacy Choices