I was thinking of starting my own business and came across a few ideas that seem to be “recession proof”. However, if you’ve ever dreamed of starting your own business, you may have been put off by uncertainties like I have. Many new businesses fail. In fact up to 65% of new businesses fail within the first year. Yet, In vending machine startups, the figure is much lower. That’s right, on my shortlist is the vending business.
The majority of vending machine startup businesses don’t fail. Since a new vending machine business can be operated part time, I could keep my current job while I operate your new business. No need to put all my eggs into one basket.
Upon further reading I found that there are a number of ways to get started in the vending machine business but the easiest is probably to buy an existing business or route. The business is already a going concern and all the machines are in place. When buying an existing business, the current owner will usually provide on the job training. When investing in any business, make sure you get all the particulars verified. After you buy the business and become comfortable with your route, you can consider expanding.
You can buy used or new equipment and start your own business. The most profitable machines are the bulk machines which dispense gumballs and candy. The shelf life of these items is long and the items cost about $.02 each. The machines usually charge $.25 each. You will need to find local businesses or public buildings which will rent you space for your machines. Some vending businesses pledge a percentage of profits to a charity in order to place their machines in certain locations.
Vending machines can also be leased. When leasing or buying equipment, shop around for the best deals. The cost of leasing or purchasing equipment will effect your bottom line in the long term, so you want to get the best deal possible. The cost of leasing equipment or business loans to buy equipment is usually tax deductible, at least in part. Remember to keep good records on transportation costs and office costs which are also tax deductible.
Vending machines generally have to be restocked about once a week. You can restock your machines evenings after work or on weekends. You don’t have to leave your current job while starting your new business. This gives the vending business a huge advantage over other business opportunities for most people. You keep your salary and benefits while starting profitable business which you can expand over time. Your goal, of course, is to be able to give up your job and operate your business full time.