Starting a soda can vending machine business can be a great side hustle to provide a convenient service to customers and make money on the side. It’s not a complicated business venture and doesn’t require a lot of money to get started. All you need is a soda vending machine, the right location, and some cans of soda. Once you have these elements in place, you can start your business and enjoy the rewards.
I started a vending business with my brother. Although we both flopped on the business, it was a good learning opportunity and both of us did really really well in our enterprise. Learning from our lessons, if we were to start all over again, I’m sure we both could easily succeed in this business. With the right planning, you can make your soda can vending machine business successful and profitable. In this article, we’ll provide you with the essential steps for how to start a soda can vending machine business and the tips and tricks you need to make it successful.
Why start this Business?
A soda can vending machine business involves using a vending machine to sell cans of soda to customers. The vending machine can be set up in a variety of locations, such as convenience stores, gas stations, malls, and even stand-alone locations. You can sell a variety of can drinks or ounce bottles in your machine. The vending machine is stocked with cans of soda and customers purchase them by inserting coins or bills into the machine and the machine dispenses the cans of soda.
If selling soda drinks is not the choice for you, you could buy the snack machine, or toy machine, or sell other products in the vending machine. The vending machine business is a great way to make money with minimal effort. Once you have the vending machine in place, all you have to do is keep it stocked and collect the cash. You don’t need to be present at the location all the time and you don’t need to handle the customers directly. This makes it a low-maintenance business venture.
Benefits of Starting a Soda Can Vending Machine Business
There are many benefits to starting a soda can vending machine business. The most obvious benefit is the potential to make money from the sales of cans of soda. You may earn up to $8,000 a month from 1 vending machine and get back your ROI(return on investment) within 18 months. The vending machine business is also a great way to make money on the side without having to commit to a full-time job. You can set up the vending machine at the right location and collect the cash without having to be there all the time.
The vending machine business also requires minimal investment. All you need to get started is the vending machine and the cans of soda. You don’t need to worry about renting a space or hiring staff. The vending machine is also relatively easy to install and doesn’t require a lot of maintenance.
Necessary Equipment for a Soda Can Vending Machine Business
The most important piece of equipment you’ll need for your soda can vending machine business is the vending machine itself. You can buy a new vending machine or purchase refurbished soda machines. The cost of the vending machine will depend on the type and size of the machine. You’ll also need to buy cans of soda to stock the machine.
You’ll also need to buy the necessary supplies for the machine, such as coin acceptors, bill acceptors, and coin changers. You’ll also need to purchase a lock for the machine to prevent unauthorized access. You may also want to buy a security camera to monitor the vending machine.
Finding the Right Location for Your Business
The success of your soda can vending machine business will depend largely on the location you choose for the machine. You’ll want to find a location that has a lot of foot traffic and is close to potential customers. This could be a busy street corner, a mall, a convenience store, or a gas station. You should also consider locations that have a high concentration of vending machines, as this will make it easier for customers to find your machine.
You should also take into account the security of the location. You want to make sure the vending machine is in a safe place where it won’t be vandalized or stolen. You should also consider the cost of renting or purchasing a space for the vending machine.
Pricing and Stocking Strategy for Your Soda Can Vending Machine
Once you have found the right location for your vending machine, you’ll need to decide on a pricing and stocking strategy. You’ll want to set the price of the cans of soda at a level that is competitive with other vending machines in the area. You’ll also need to decide how many cans of soda to stock in the machine. You should stock the machine with a variety of different types and brands of soda to appeal to a wide range of customers.
You should also consider offering discounts or promotions to encourage customers to purchase from your machine. You can offer a discount for purchases of multiple cans of soda or for buying a certain amount of soda. You can also offer promotional items, such as coupons or free samples, to entice customers to buy from your machine.
Legal Requirements and Regulations for Soda Can Vending Machine Businesses
Before you can start your soda can vending machine business, you’ll need to make sure you comply with all applicable laws and regulations. Depending on where you live, you may need to obtain a permit or license to operate a vending machine. You may also need to pay taxes on the income you make from the vending machine. You should also make sure you are compliant with health and safety regulations, such as ensuring the vending machine is clean and well-maintained.
You may also need to comply with local zoning laws. Depending on where you live, you may need to obtain permission from the local authorities before you can set up the vending machine. You should also check with the local fire department to ensure the vending machine is in compliance with fire safety regulations.
Advertising and Marketing Your Soda Can Vending Machine Business
Once your vending machine is up and running, you’ll need to start advertising and marketing your business to attract customers. You can advertise your vending machine by placing flyers or posters in the area or by handing out business cards. You can also set up a website or social media accounts to promote your business. You can use these platforms to post updates about your vending machine, share promotions, and engage with customers.
You should also consider offering discounts and promotions to encourage customers to buy from your vending machine. You can offer discounts for purchasing multiple cans of soda or for buying a certain amount of soda. You can also offer promotional items, such as coupons or free samples, to entice customers to buy from your machine.
Tips for Keeping Your Soda Can Vending Machine Business Profitable
To ensure your soda can vending machine business is a success, you’ll need to make sure it is profitable. Here are some tips for keeping your vending machine business profitable:
- Monitor your vending machine’s performance. Regularly check the machine to make sure it is stocked and in good working order. Track the sales of the vending machine to identify which products are selling and which ones are not.
- The perfect machine need not be fancy. Most importantly it should be low maintenance.
- Adjust pricing and promotions. Monitor customer feedback and adjust your pricing and promotions accordingly.
- Keep the vending machine clean and well-maintained. Make sure the vending machine is always clean and in good working order.
- Have a different type of payment option if the customer needs to. Do look into whether installing credit card readers(they cost about $1,200 to $1,500 to install) is viable. Since it will be quite an investment, you will need to look into whether it will be profitable in the long run.
- Secure the vending machine. Make sure the vending machine is secure and not vulnerable to theft or vandalism.
- Offer a variety of products. Make sure you are stocking a variety of products in the vending machine to appeal to a wide range of customers.
- Keep track of your expenses. Track your expenses to make sure you are operating the vending machine as efficiently as possible.
Work with Businesses
I leave here the most important tip which is learning how to work with other small businesses that preferably have high-traffic areas. You have to know what type of business to work with, they are:
- Laundry business
- Residential area
- Fitness centres
- Shopping malls
Apart from location, you will need to understand what types of drinks you should be selling. For example, you should be cold drink machines selling energy drinks. You may also look into adding snack vending machines to value add your customer and possibly make an extra income.
The biggest mistake I see in beverage machines is not going for different selections of drinks. Yes even though Coca-cola is a popular drink, you should not be just serving diet coke from your coke machines. Be creative and think of other ways to start selling different selections of drinks.
Courses and Resources for Starting a Soda Can Vending Machine Business
If you are interested in starting a soda can vending machine business, there are a number of courses and resources available to help you get started. There are online courses that can teach you the basics of setting up and operating a vending machine business. There are also books and websites that provide useful information about the vending machine business.
You can also join online forums and communities where you can connect with other vending machine business owners and learn from their experiences. There are also resources available that can help you find the right vending machine and supplies for your business.
Conclusion
Starting a soda can vending machine business can be a great way to make money and provide a convenient service to customers. It requires minimal investment and is relatively easy to set up and operate. To make your business successful, you’ll need to find the best location, set the right pricing and stocking strategy, and advertise and market your business. You should also make sure you comply with all applicable laws and regulations and keep your vending machine clean and secure. With the right planning and preparation, you can make your soda can vending machine business successful and profitable.
