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Lots of vending machines can be found almost anywhere around the globe especially in urbanized towns and cities. They have been such a huge hit and continue to be one among people of different age groups and social classes. But why are vending machines so popular? Is it because of the accessibility of items? Is it because of the cost of these items? Also, are vending machines really profitable? Is it wise to venture into this kind of business?
Popularity of Vending Machines
Most online sources say that the first vending machine dispensed a fixed amount of holy water in exchange for a coin. It was created by Hero of Alexandria, a Greek engineer and mathematician. But the very first modern coin-operated vending machines were introduced in the 1880s in London. These vending machines sold gum on train platforms. It became more popular when the gum machines included small animated figures as an added attraction. This eventually led to the conception of pinball and slot machines.
As time progressed, so did vending machines. From snacks to toys, there’s a diverse list of items being dispensed by these small retail contraptions. With a diverse list of items comes a diverse list of locations like in malls, offices, schools, parks, and so on. The accessibility of vending machines is a reason why they have become so popular.
Diversity really is the key to its popularity because the inclusion of challenges or games in order to achieve an item or a special prize was included. This garnered more attention from people and gave a whole new experience to consumers.
Another reason why they have become so popular is easy acquisition of items mostly for only a small amount of money. Usually, a few drops of coins are needed in order to make a transaction. They can give change to bills, too.
Profiting through Vending Machines
Yes, vending machines are popular but are they really practical business-wise? I say it depends on the way one strategizes in this kind of business enterprise.
The benefits of doing this kind of business are immense if done properly. That’s why they’re popular in the first place. In this kind of business endeavor, you are your own boss. No one but yourself and maybe a maintenance help is needed to sustain such business. Also, a business license is required. The license won’t limit you to a number of machines you will put up. But be wary that immediately starting with huge numbers of vending machines may prove unwise. It is advisable to start with one or two until you get the hang of it.
Then, do some research on potential locations for your vending machines. Location is a huge factor here because they’re just going to stand in one place in order to sell. Make sure that the items you will sell are in the proper location. Cigarettes won’t sell like hotcakes in a video arcade. Also, your products should look fresh or appealing, too, because that’s a major factor in “advertising” your products.
In addition, the machines should be properly maintained, too, so that there’s a continuous flow of income as machines are up and running 24/7. Hiring a maintenance help may be a good idea. The machines you will purchase should also have excellent warranty whether they’re new or secondhand. It’s wiser to buy from reputable manufacturers or dealers.
Any business venture is a sure success when dealt with the right mindset and approach. Patience and dedication also helps.