Although you donâ€™t need a formal business plan to get started in the vending machine business, it doesnâ€™t hurt to put some figures down on paper. Too many people get into vending with unrealistic goals or ambitions; this is an almost guaranteed recipe for disaster. If you get into vending thinking itâ€™s going to be fun, easy, or a way to make money effortless, youâ€™re going to end up getting discouraged pretty quickly. This isnâ€™t to say that parts of vending arenâ€™t fun or easy, but most jobs are fun and easy in some ways and a pain in other ways. Vending is a J-O-B or business just like any other, thereâ€™s some pros and some cons. In a lot of ways itâ€™s probably just like the job youâ€™re hoping to leave. Iâ€™m not trying to talk you out of starting a vending route, because I really do think there is a lot to like about vending, I just want to caution people about the realities of vending.
Hereâ€™s a quick view of the pros and cons:
- Can be started with very little money
- Virtually anyone can do it
- You donâ€™t need any special skills
- Can be started part time
- It allows for a very flexible schedule
- Machines only need to be serviced every 30-60 days
- If you are starting with very little money, it will take you a lot more time to build a route
- Itâ€™s very competitive
- The machines are heavy
- You need hundred of machines in order to make a full time living
- Profitable locations are hard to find
- The average per head is only $7
So, just because you donâ€™t need a business plan this doesnâ€™t mean you should just rush in without a little bit of planning. For example, you should have a general idea of how many machines you need to reach your income goals, how long it will take to get these machines on location and how long it will realistically take you to reach these goals.