The Mieka Canon

Vending Machines are a great business, especially for the average person. Why? Well for one vending machines do not take a huge amount of startup capital nor does it require great technical knowledge or business sophistication. Basically, you can purchase a refurbished soda machine for under $2,000 and stock it with inventory for a couple of hundred bucks or less. After that there are virtually no costs. Of course you will need to re-supply your product inventory and there are small costs such as electricity if at your own location or an occasional repair but typically vending machines will be placed at a location the vender doesn’t own. Normally a percentage of sales are given to the location owner. The hardest part about the business is choosing the right product mix and the placement of machines. Areas where there is a lot of foot traffic are usually the best. If people in the area then you may want to place a water or soda vending machines there. Another great thing about the business is that it is not time intensive. Once a location is set and the vending machines installed and stocked. All one needs to do is service the machines on a schedule that’s appropriate for the location. If it gets lots of action then maybe once a day would be necessary however, you may need to service a location only once a week or even less depending on how fast the inventory moves. As you become more experienced and have placed your first machine in a profitable location then the next step is to scale the business by adding more machines in more locations.