After 2020 we all are looking for multiple ways to make money. Often, I hear “I thought vending machines were dead” Wrong!
In fact, the vending machine business is a proven recession proof business.
So how does this business even work? Where do you start? How much money can you make?
Types of vending
First, when thinking of getting into the vending machine business you need to decide what type of vending you want to do. See my last blog 10 Types of Vending for ideas.
Once you have decided on the type of vending you want to do you can then decide what type of business structure you want to form. Honestly, if you are not generating more than $50,000 a year you can simply do business as a sole proprietorship. The most common business structure that people typically form is an LLC. You can either do it yourself or have a register agent do it for you.
Vending machine locations
Now, the most challenging part of the business is landing a quality location. My team can help guide you through the process if need be. Remember the name of the game is foot traffic! The more people that are exposed to your machine, the more potential sales you can make.
Check out some locations that our clients have landed and are generating as much as $2,000 per month from one machine! iKrave Vending’s Client spotlight
Types of machines: New or Used
Now, what type of machine should you get? New or used. That really depends on the type of product that you are dispensing and your budget. We are partnered with the oldest vending machine supplier in the U.S and the sweet part about it is they have their own in-house financing. With that being said, we help all our clients with the financing process should that be the route you choose to go.
Vending is a fun side-hustle and can turn into a full-time business if you choose to. Sounds like a side hustle you want to start in 2021.
Guess what? We have a 100% free training to show you how to get started. Register here