Vending machines are now almost everywhere, offering a convenient and flexible method to enjoy food and beverages on the go. They are automated machines that serve snacks, drinks, energy bars, and other merchandise with easy cash, credit card and mobile payments. Owing to its convenience and easy access to healthy food, a vending machine is a valuable asset that suits various locations. For those looking to increase their income, vending is an exciting industry to dive into. However, before starting a vending operation it’s important to consider a few critical components when choosing locations.
This article will help you better understand how to choose the best locations for your vending machines.
Why should you consider locations?
The location you choose for your vending equipment is a critical component that might decide your success in the industry. You should select an area with a large number of potential clients. Vending is a lucrative industry with passive profits and the best locations are very competitive to get. Many times the locations you want already have a vending operator and other times you may need to persuade the location owner why your vending business will benefit their employees and customers.
The three most important factors for success in a vending business are location, location, and location.
Finding the best location for a vending machine company may be difficult. We don’t want you to buy a machine only to have it go unused. Therefore, securing locations is an important first thought when starting a vending operation.
Analyzing foot traffic is vital: Visibility is an important factor to consider in the vending business. Locations with heavy foot traffic and hungry people can be a great opportunity for your vending equipment to make your money. The cornerstone of a successful business is willing customers who want what you’re selling. Therefore, you’ll need to choose locations with a large volume of people who are interested in the products you’re providing.
Understand competitors: It’s important to understand that the best way to beat your competition is to provide your clients with what they desire the most. When you are in the vending business, you must master multiple techniques to outperform your competitors successfully. We recommend assessing the competition in your area using the following criteria.
- Condition of machines
- Easy payment options
- Product selection
- Service quality
- Price point
Business contract with property owners: It would be fantastic if you could plug a vending machine into any available location and start selling. However, consent from property owners and a contract is required to deploy your equipment without any hassles. To cover costs, company owners may request a fixed monthly rental rate or a percentage of earnings, depending on their specific circumstances.
Product offerings must match your location: A great way to provide great customer service and increase your profits is to meet the needs and desires of the people at your locations. Don’t hesitate to do research and ask the location ownership what they want to see in the machines. Providing a balance of snack and drink offerings is important too. It’s common for people to want a snack to go with their drink purchase.
Most Common locations for Vending machines :
- Amusement Parks
- Business offices
- Bus stations
- Factory break rooms
- Fire stations
- Golf course lounge and other sporting spaces
- Healing & wellness spaces
- Industrial parks
- Manufacturing plants
- Nursing homes
- Office break rooms
- Railroad stations
- Shopping centers
- Tourist places
Here are the few best, most profitable locations for a vending machine to consider.
Schools and universities: Snacks and beverages are appealing to young folks no matter where they go. They often want to satisfy their cravings after a full day of activity. Why not place a machine where they all congregate? Vending machines on a university campus are perfect for the on-the-go lifestyle or sit back and chill lifestyle of most college students.
Apartment Complexes: Apartment complexes are densely populated with many occupants and frequently lack dining alternatives. Having a 24-hour vending machine on-site is a great way to find potential customers where they already are and provide snacks and drinks they want so they don’t have to travel to the store. You can sell almost anything from this location, including magazines and newspapers, bread and frozen foods, or hot and cold beverages.
Office buildings: Customers who don’t bring their drinks, snacks, or lunches have options thanks to vending machines. How many times have you been too lazy or too hurried to bring food from home? If you’re considering putting your vending machine in an office building, evaluate whether the facility has other food available and how much it costs. You have the chance to make a significant profit if you are the only vending machine in the building or if there aren’t many proximity choices for food or drinks.
Healthcare Facilities: If you are looking for the best vending machine location, try placing your vending machine in hospital lobbies. In addition to being a venue that welcomes visitors frequently, it is also one that is highly secure. Healthy Snack vending machines are a great addition to healthcare facilities for visitors and caregivers to have access to food and beverages whenever they need them.
Gyms/Fitness centers: Strategically placing a vending machine in a fitness facility lobby is especially effective if you stock it with exercise-related products. Consider equipping your machine with water, sports drinks, nutritious snacks, and protein bars.
Automobile repair centers: A car dealership is always open and has a lot of foot traffic. These are places customers have to wait, linger and may be more tempted to pass the time with a snack. The sales, technical, and service staff can also rely on vending machines for quick access to food and drink.
Hotels: Hotels and motels are excellent places to install any form of vending machine to draw customers for spontaneous or regular snacking. Most hotel guests are away from home without their kitchen to tempt them, so why not do it with a vending machine? A hotel lobby is an excellent site to install a vending machine. Most hotels are open to working with anyone who wants to place a vending machine in their lobby.
Your one-stop shop for all your vending needs: Vending.com
The vending business can generate a significant profit only when you find exceptional locations. However, identifying and securing profitable vending machine locations can be challenging. If you need assistance determining the best, suitable locations or looking to start a new vending machine business, experts at Vending.com can help you with the right vending solution. For more information, reach out at 1-855-929-1042 today.