The Entrepreneur Corner
Vending Machines
Vending machines — AKA lean, mean, money-making machines — are simply good business.
The average US operator owns 13 machines that gross ~$4k in monthly revenue. Not bad for a side hustle.
If you scale up to a fleet of 50+ machines, you could potentially make ~$30k per month working less than 10 hours a week (like vending-preneur Jaime Ibanez).
The industry is projected to reach $146.6B in global revenue by 2027. Financial advisors and business coaches would tell you to invest in them as soon as yesterday.
But it’s not too late to get in the game — especially when a host of innovations are emerging in the vending-verse:
Penguin Random House installed a book vending machine in a UK train station to help commuters enrich their journey.
Smart vending freezers can provide real-time data analytics to optimize sales while reducing food waste.
A UK bank created reverse vending machines to help people recycle unused plastic cards.
So let your imagination run wild with what to vend in the machines, and where to put ’em. Some ideas to start:
Tap into the events industry
Vending machines are fast and convenient. Large events with long lines are the opposite of that.
Vending machines could become prized assets at event venues with heavy foot traffic, like conferences and festivals.
Automated sales will keep the crowd moving, and boost the experience of both organizers and attendees. No more waiting around for snacks, beverages, or merch — just hit up a machine!
You could also help brands attract eyeballs at events by “pimping out” your machines.
Use crazy colors and popular themes to stand out, or retro designs that take people back to their childhood. (Vending capsules with little dinos in them? Hell yeah. )
For outdoor events, we see an opportunity for compact, portable, solar-powered vending machines.
They can save big energy bucks and do a lot for the environment — like suck carbon dioxide out of the air (no biggie).
Machine Health Matters
There’s no shortage of abandoned, decrepit vending machines lying around. Videos of abandoned vending machine raids rack up millions of views on YouTube. (To be clear: it’s illegal. )
The machines need love, too… So why not start a business that services them, with routine maintenance and repair packages?
For first-time owners who don’t want to bother with upkeep, this service could help take the burden off.
Alternatively, you could produce educational content for entrepreneurs who do want to get their hands dirty, with videos of:
Rapid-fire, close-up machine cleaning tricks
Common maintenance mistakes and how to avoid ’em
AMA with a vending machine tech
Trendster Geraldine Anello built a Facebook community (and a newsletter) for handy women that’s garnered a whopping 620k+ members. There’s clearly a market for the tinkerers.
Offer Personalized Experiences
With a little creativity and a smart display, you could serve up a personalized experience with your machines. The digital kiosk lets customers print designs directly onto their nails, or print out a set of press-on acrylic nails in less than five minutes.
Novelty Pays
Traditional vending machines already offer sweet profits, with most operating at a ~40% margin.
And those are the ones selling sodas and chips.
We’d say there’s room to make margins even fatter: For example, place machines in unique destinations and offer novel souvenirs you can charge an arm and a leg for.
Giggling tourists will empty their pockets to buy zebra penis replicas outside the Icelandic Phallological Museum, or pot leaf hats outside a Snoop Dogg concert.
Think outside the snack box — you might just be the next indispensable vending virtuoso.
Source: Trends