Does Owning a Vending Machine Pay Off?
Vending machines have been popping up like mushrooms all over Ireland and Northern Ireland in the last few years. Business owners have discovered how profitable these machines can be and now, everyone wants a piece of the pie. But before you go out and get your own machine, are you certain that this is not just a passing trend? Does owning a vending machine really pay off? Read on to find out.
Expenses of Starting a Vending Machine Business
The many success stories that we have been hearing about vending machine businesses might be true but none of them happened without hard work. Many of these stories also involve significant financial outlay.
This machine is not a cheap investment. It usually costs about €6,000 for an outright purchase, and this is only for a standard machine. A high-tech specialty machine today can cost you as much as €30,000.
In addition, there is the cost of maintenance and repairs, which can also add up to a huge amount. You will also have to factor in the cost of electricity, which can be quite hefty if your vending machine uses refrigeration or heating functions.
Potential Earnings from a Vending Machine
For a vending machine to be profitable, it would have to generate earnings that are significantly higher than all the expenses combined. In order to achieve this, you should start by having a saleable product to offer. You should also install your machine in a location that is well-populated with high demand for your product.
On average, a vending machine can generate gross sales of €500 a month. If this is more than enough to cover all the costs of owning and maintaining this machine, and still leave a decent profit to show for it, then you can consider it as a lucrative investment. But if you are not generating enough sales to make a profit, you should consider changing your product range. You can also transfer your machine to a different location so that your investment will pay off.
How to Make Your Investment Pay Off
As with any other business investment, buying a vending machine comes with certain risks. But one thing that you can do to start the right foot would be to choose your machine provider carefully. It would be a grave mistake to go with a provider that will sell you substandard machines. Or that would leave you on your own after the sale has been completed.
Vending-Machines.ie has been one of the most trusted vending machine providers in Ireland and Northern Ireland for years. Our vending machines are very competitively priced and can be fully customized to meet your specific requirements.
In addition, we also offer fully managed services for your vending business in packages that do not require any outright payments. Through our high-tech machines and expert service, we can easily demonstrate to you that owning a vending machine can definitely pay off, especially if you choose us as your partner.
