When going into any sideline business or project, it is important to ensure that you are aware of the pros and cons involved. For quite some time now, the idea of arcade machines, vending machines and other forms of amusement machines outside stores and inside busy centres have been an effective way of earning an extra income. If you are looking into owning a vending machine business for extra income, then be sure that you are aware of what you are getting yourself into.
One of the advantages of havingvending machines as a business is that they are a great way to start making profitable turnover within the first few months of going into business. Making sure that you choose a product with demand is also important to the success of your business and the ability to make a profit. Popular vending machine products would include gum balls, chips, cold drinks and even children’s toys. The vending machine will also provide daily repetitive business as people view it as a fixture that will soon become part of their daily routine.
One of the cons or disadvantages of having a vending machinebusiness is incorrect location. Should you make a mistake in the placement of your vending machine, your extra income could very well be negatively affected. Location is very important and needs to be considered.
Many people are at a disadvantage as they believe vending machines to be cheap. This is an obvious con as vending machines are quite costly. If you are going to start a vending machine business, it is important to consider where you will place it, how much that will cost you and how you will afford the actual machine and its installation. Vandalism is another con to consider when thinking about earning extra income through vending machines. Many unscrupulous people tend to spray paint, knock over and damage the machines, which could end up being quite costly in the long run. Try to ensure that you have security arranged for the machine.
Another growing advantage to owning a vending machine business is the fact that all your clients and future clients trade with you on a cash basis. At no point are there any client accounts or collections that need to be made. Cash flow and quick turnover are really the order of business. Owning a vending machine also means that you do not need a store front or large storage area for stock. All stock can be easily stored in your garage and the vending machine re-stocked on a weekly or bi-weekly basis. Earning extra money with a vending machine business is definitely possible.
While providing consumers with a relatively cheap, convenient and quick way to grab a snack or cold drink on the run, you can earn some extra cash! If this sounds like something you would like to get involved in, make sure you have considered all the pros and cons and have the start-up capital in place. Your vending machine business could be the best business decision yet!
Author: Franchise Finder, Online Directory of Franchises and Business Opportunities in South Africa