Candy Dispensing Settings for your bulk candy vending machine
As I mentioned last week, every machine has setting to determine how much candy comes out per pull, those setting will make the difference between running a profitable business and running a charity. The settings are a very important factor. While you need to be profitable you can lose the good will factor from your customers if they get next to nothing for their money. For repeat customers like employees at the store or company winning back loyalty is hard. So you have to strike a balance. Just like any other product the more you get for your money, or better ...
Compound Interest — any important concept of the vending machine business
Some people attribute Albert Einstein as saying “The most powerful force in the universe is compound interest.” While there is debate as to if that is truly a quote of his the point is very valid. Compound interest is a term that is very important into your planning for the future and personal finances. It also is the making of why the vending machine business is such an interesting business with lots of growth opportunity. The idea behind interest is that you invest money into something, this initial money is generally called your principle. That money gains interest or additional money ...
Passive Income – the reason for a bulk candy vending business
Bulk candy vending machines are a great way to get your feet wet in the world of business you learn a lot about investing, return on investment, sales, purchasing and every other form of business but at a microscale, allowing you to make the mistakes early without much risk associated to the venture. Your quickly understand how the price you buy an item at is extremely important especially when you are working with such small transactions, that location does matter, and the importance of testing the market before jumping head first. The real beauty of the business is it gives you an ...
Surviving the Economy with a Simple Vending Machine Business
These days unemployment is rampant and inflation is causing families to have to make difficult choices. It’s hard to think about “what would I do?” in those kind of situations. Many people don’t have a financial safety net and would require at least a month to find work if they lost their job. Though typically thought of as a safe route relying on a job for all your income... [Read more]
Bike Repair Vending Machine Sells Parts and snacks!
I always find it interesting when someone creates an abnormal vending machine. Well here is one for you. BikeFixtation provides a machine with bike parts inside, snacks and repair station. I can see how this might be a good idea for say New York where you have a dense population and a lot on bikes or maybe even a college campus, however I’m not sure this would be the greatest choice for... [Read more]
The Thrill of Making Your First Dollar
You may think that a dollar isn’t worth much these days, but you would be surprised how much the first dollar can do for you when you start a business. Before that dollar your business is just an idea and a dream. That dollar makes it very real, you made a dollar without having to go to a job. That’s a very satisfying feeling. It may remind you of being a teenager and getting your first... [Read more]
Food Safe Cleaning and Maintenance of a Vending Machine
When you start a vending business you are really in the business of food and concessions. In many states the same laws that oversee concession stands apply to the vending machines, including how clean and sanitary the machine and storage of candy are. That’s why it is very important to keep you machine clean and sanitary after all you are vending food. It is also very important that when you... [Read more]
The New Pepsi Social Vending Machine
Pepsi has created a new prototype vending machine that allows users to send a gift of soda to their friends who can then redeem it at any other Pepsi social vending machine. I think it’s an interesting concept but not sure how well received it will be. Given the fact that the majority of the machines out there are used machines put in place by individuals like you and I. It’s hard... [Read more]
Vending Machine Quick Tip: Counting Quarters Fast
If you have followed my previous advice to get a scale you will find this tip to be very time saving. A quick way to count quarters is to throw them onto a digital scale. $10 worth of quarters is 8oz. So every eight ounces is a roll of quarters. Each quarter weights 0.2 oz. So you can quickly throw all the quarters from a candy machine head on to the scale divide by .2 and you know how many quarters... [Read more]
The Best Vending Machine Business Software
My Recommendation: Check out Vend-Trak Online Vending Business Software One of the most critical things to any business is effective software to track the profitability and improvements. Coming from the computer programming world and having written business software for many years, I am extremely critical of what software I use. I got to the point that a simple excel spreadsheet wasn’t the... [Read more]
Arbitrage: You have to Spend Money to Make Money
The title of this article is a dangerous concept. There is a lot of truth to it, but there are also a lot of traps to it as well. In businesses you make your money through an exchange of value. You produce something of higher value then the cost to make/obtain it and that makes you profitable. In some businesses the value is created through physical or mental labor, however in the bulk candy vending... [Read more]
Valentine’s Day Candy for your Vending Machine
If you are like me and have some u-turn terminator or eliminators you should consider replacing your slowest selling head with some Valentine’s day candy. This can be an affective if done at places where couples are more likely; Such as Movie Theaters, Resturants, or Malls. It will definitely be bought as a novelty or something to hand their date. I recommend the candy hearts or sweet... [Read more]
Superbowl and Sporting events and bulk candy vending machines
It may seem like common sense but if you have vending machines in bars and restaurants you should keep track of major sporting events such as Superbowl Sunday and make sure to service the machine right before hand to make sure you make as much money as you can from the machine. Here is a quick list events you should plan around. Superbowl Sunday World Series NBA Playoffs NHL ... [Read more]