Starting a vending machine business is underrated. Many people think that vending business only gives a small change. If run properly, vending machines can provide a decent income. That is why the vending industry is still growing. Vending machine manufacturers wouldn’t keep making machines and improving technology if there wasn’t a market for it.
Recently, in Japan, a railway company started a new trend in the vending machine business by installing new vending machines that can actually suggest items to a buyer. You know how high tech Japanese technology is. Well, they’ve placed facial recognition software in their vending machines to estimate a buyer’s age and gender. It guesses what you want to drink based on that information.
If an old man approaches a vending machine, the machine suggests green tea. If the machine recognizes a teenager, he or she will get a recommendation for soda or a sweet drink. If a young man or woman between the ages of 25 to 25 tries to buy something, the vending machine may suggest coffee. The new Japanese vending machines are also able to make suggestions depending on the temperature and time. So it may suggest hot coffee on winter mornings or cold drinks during the summers.
Manufacturers and vending companies wouldn’t try to keep improving their machines if there was no prospect of a future in the vending industry. It seems the vending industry is keeping up with the times and does have a future for people who want to get into the vending machine business. The vending business is about volume sales and targeting your products to the right crowd. It seems those already in the business don’t have a problem accomplishing this.
You can make a lot of money in the vending machine business if you choose the right locations and place the right kind of items in the machines. Think like the facial recognition program in the Japanese vending machines and match the market to an item. So, if you plan to place vending machines at a college university, place items that are popular with college kids like soda.
For example, you can offer coffee at office buildings, or sell toys at a children’s hospital. You can place energy drinks in vending machines that are located at a sports club, gym or fitness center. Why not place a machine that sells cigarettes at a club or entertainment strip. Think like a Japanese vending machine and predict what your buyers want.
You don’t need high tech technology to make money in the vending machine business, nor do you have to install facial recognition software to make money. It is just something so typical of Japan to produce such high tech machines for everything they do or need. That’s just the way things are for them in their country.
Right here at home, traditional vending machines have been modernized minus facial recognition software. They will work just as efficiently if you can study your available market and match your vending items to your buyers. If you have decided on a certain niche, make sure that you place your machines where these people hang out and sell items they would probably want to buy. But if you have particular items you want to sell, then research for the ideal location where people in that area would want your items.
Think about these before plunging into the vending machine business. Like any other business, it’s better to make a good research and get a better understanding of a any business before jumping into it. Vending machine is no exception. You can also learn more on how to start a vending machine business in 6 steps.