Candy vending machine business is a great choice for a start as it is absolutely safe and user-friendly for the customers. There are many things you have to keep in mind, even though it is a small business idea. Though more than half of your customers will be kids under 15 years, you will still make a lot, as they love candy!
There are also many plus points of this business idea, as it requires no additional employees, no rent for an office and utility fees, it's a 100% cash business, and includes significant tax benefits for being self employed. You also get to do your own work at whichever time you want, and don't need to put in extra cash for advertising. So, if you are thinking of starting this business, you are surely making a great choice!
How to Start this Business
There are so many varieties of candy which are available in the market, and buying them from a store, apparently takes a lot of effort. So the best choice candy lovers have, is to use the vending machines standing on the sidewalks or in malls. Setting up a machine requires the same amount of planning as any other small business, but on a smaller scale. Mentioned below are a few tips to guide you with this business plan, so take a look!
Buy the Machines
You will obviously need capital to buy the machines and to pick a spot for your business. Since there are many varieties of candy as mentioned before, you will have to select the machines accordingly. There are some machines which are specific to a certain brand of candy, while some which are general. There are still others which are gum ball vending machines which are smaller in size and more convenient to move. Once you select the machines, also keep in mind the area where you are going to be located and decide the size of it, accordingly.
Placing Your Machines
Another important arrangement you have to make before starting this business in full swing is, the place you will be standing it in. There are many places like stores, malls, amusement parks and skating rings where you can lease or rent out a small area for the machine. You can rent out these places depending on the number of machines you are going to set up. When you get these slots, make sure the machines are installed properly and refilled on a regular basis. Place your machines in such places where there is more foot traffic. You will surely get more customers when it is placed in a crowded area.
Lack of customers, poor advertising and bad quality of the product are the factors that can hamper the profit margins. Therefore, in order to get good profit, make sure you have all these three main points covered before you set up the machines. Always make sure your product quality is excellent.
Exhaustive advertisement is not required, but you can at least distribute pamphlets and make people aware of your endeavor. Word-of-mouth marketing technique can also help. Lastly, it can be said that if you have a candy machine, instead of buying another candy vending machine, you can purchase a newspaper or drinks vending machine along with it.
If you are confused about selecting a business idea, start with buying a candy vending machine. It is surely a great business opportunities for beginners, without much investment.