Avoid Vending Machine Scams
With a vending business easy to begin and operate, it is referred to as having a low barrier to entry. This translates into the fact that anyone can start a vending business. Vending is uncomplicated to get into and you can start with just a few dollars. A low barrier almost certainly means that there is tougher competiton to succeed and less profits to be made. With all the people starting up in the vending machine business, you’ll need to work twice as hard to make it.
One of the biggest pit falls to avoid at all costs is the vending business opportunities (biz ops) that are prevalent everywhere online. One of the most widely touted biz ops today is energy, but it’s not the only one out there. For the dear price of about $15,000. a biz op will get you equipment, get you in businesses and offer to help you with your whole start up. Most business opportunities make crazy over stated profit claims. The vending business is all about small profits. In vending, it is all about the numbers - tons of machines churning out a small monthly profit to get ahead. It’s easy for people who get ripped off to become disappointed with vending and quit. Lots of machines are being sold everyday by people who have just quit.
If you have been conned into one of these plans, your choices are limited, you can complain to the Better Business Bureau, file a complaint with the Justice Department, or get a lawyer. I’m sorry to say that it is unlikely you will ever get one cent of this money back. Research is a big part of any successful business venture. The people that are pushing biz ops and promoting vending as a way to make easy money are not to be trusted.
You need to keep both feet on the ground before you quit your day job and pursue the vending machine business full time. Bulk vending isn’t for everyone, but I’m not trying to get you to second guess yourself. It is my goal to make sure you know the ins and outs of the business. The average vending machine makes an average of $7. With this average, lots of people make more money and lots of people make less. Sometimes, despite all the hard work, not everyone gets to $7. My per head average now stands at five bucks. At $14 per machine, you can do the math and see that quite a few machines are needed until you can make a decent profit.
One more thing to be aware of is potential rip offs with locating services. Locators help you by making lots of phone calls to zip codes you provide to help you get your machines placed faster. Sometimes you can hire a person to drive around and place machines. Machine placement services usually charge an average of $45 to get a machine on location. With a locator, you will have more time and be able to grow your business faster. Each locator has different plans, some make income guarantees or time guarantees. Rip offs and problems are rife within the locating business, but don’t let this bother you. Good ones can be obtained for a decent price. A locator with a proven reputation is the best way to go, but even with that, I would go slow. Get them to place a couple machines and see how well they do.
Don’t think you’ll get rich quick with vending. Like most new start ups, vending is time intensive and competitive, but if you if really want it, you can make it work. Many people fail at vending, but this isn’t because vending isn’t a good business. A lot of folks are not able to successfully run their own business. Even people who don’t have tons of money to invest can get started in vending. With one or two bulk machines and three months time, you will get a good overview of the business. With a vending business, you really do have the opportunity to develop your business and still stay employed at your current work. Don’t base your expectations on what others say, proceed at your own pace and make your own judgement calls.
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Tags: bulk vending, candy vending, make money with vending, vending, vending business, vending machine buisess