Topic: Vending Machine Business Mistake
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What the biggest vending machine business mistake?
Starting out with no knowledge, no grasp on the industry, and a bank loan for overpriced machines.
Here's the WRONG way to start.
Answer an ad in a business opportunity magazine, watch a glossy video tape or attend a vending business opportunity seminar. Listen to a slick salespersons hype about making money while golfing and sleeping. Be complimented that the business opportunity guys have chosen you for a limited "marketing territory". Gladly overpay too much money for a few average vending machines without doing any sort of comparison shopping. Go into big debt before learning anything about actually operating a vending machine business. Take every word the vending business opportunity salesperson says as gospel and don't question anything. Get VERY disappointed in a few weeks and desperately try to sell your machines to cut your losses. Tell everyone you know that there is no money in the vending business.
Unfortunately, this is what most new vendors do.
Or, you can do some research, find out what the vending seminars aren't telling you. Buy some vending machines for very little money and slowly build your business.
We started out the wrong way. If we only knew then what we know now we could have become even more profitable quicker. We learned how to start a vending business long after we were in the middle of it. Learn the business. Learn from others mistakes. Start small and grow. That's how to start a vending machine business.
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