If you want to improve and expand every year, the cost of running a soda and snack vending machine business verses the profit is pretty much the bottom line. Annual fees such as the vending license and taxes should be kept aside for the moment. If you want to become really good at the vending machine business, take note of these tracking suggestions to optimize your potential profits every year. As you grow, look at these categories closely.
- Cost of additional new and used machines
- Average price of repair and maintenance
- Profit left after product refill ( weekly/monthly/yearly)
- Gas mileage, vehicle wear and tear, and the price of gas
Truth In Greater Risk Greater Reward
The cost of expansion, including adding vending machines and product can be kept to a minimum by purchasing good, used vending machines. While you take the chance of a used machine breaking down faster than a new machine, if you are at all mechanically inclined, you stand a good chance of repairing broken machines at part cost. They are not rockets and you do not have to be a scientist, just mechanical. You can always go online to find information and videos on how to repair used vending machines. Soda vending machines rely on gravity and are the easiest to repair.
Six Of One-Half A Dozen Of The Other
Soda vending machines usually cost more than snack vending machines to fill but on the same token, they are easier to repair since they have fewer moving parts and depend largely on gravity to work. Machine parts can be found on the manufacturer’s website; however, before you make your purchases, you may want to determine that they still make and sell parts for the machines you are considering. Check our some soda machines here.
Track By Type-Location-Month
Always figure your profit after refill on a weekly, monthly, and then yearly basis as there are large variations in product sales from week to month to year and from type of machine and location. In order to keep any kind of accurate record, you will need to track the vending machines by location, by product, and by month, alternating the locations of the highest sellers. Keep accurate records so that you can compare months from previous years and track trends in location to types of vending machines.
Gas Gives Me Heartburn
Your largest expense given you have an excellent vehicle under warranty will be your gas expenses, (behind refill product if you are lucky) as gas is so unpredictable and becoming scarce on the planet. Track mileage carefully as well for probable higher upcoming tax breaks as the prices rise. If your biggest expense in any given year is the refill of your used vending machines, you are doing something right.