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Frequently Asked Questions About the Vending Machine/Bill Changer Business

Home » Coin Collecting » Bill Changers » Frequently Asked Questions About the Vending Machine/Bill Changer Business

How much money will I make with a vending machine business?
There is no way to predict how much you will make with a vending machine or bill changer. The amount you will make depends entirely on your location. The better your location, the better your profits will be. Look for places with high foot traffic.

Do I have to offer the storeowner a percentage of my sales?
When approaching business owners, it is proper to offer them some sort of incentive for allowing you to place your machine in their store. Typically, a percentage between 15 and 33 percent is acceptable. However, some business owners will allow you to put up machines for free if you are associated with a charitable organization. There are many organizations that will supply you with stickers to put in your machine for a nominal fee, usually $1 a month per machine.

Should I use a locating service to find locations for my machines?
Although there are many different locating services that you can use, the best and cheapest way to find good locations is to do it yourself. Research and explore your area to find the best options.

What are good locations for machines?
Certain businesses have consistently proven to be successful locations. These include restaurants, bowling alleys, skating rinks, shopping malls, Boys and Girls Clubs, laundromats, movie theaters, high schools, colleges, markets, coffee shops, banks, automotive centers, taverns, and apartment complexes. However, you should always be on the look out for more obscure locations that could be profitable, such as auction facilities, casinos, bingo halls, horseback riding facilities, or airports.

Do I need a business license or insurance to operate this type of business?
Check with your local licensing department to find out what is required in your particular state.

When placing a machine, do I need to have the owner sign some sort of a contract?
This is up to you, but typically, a contractual agreement is unnecessary.

Is theft and/or vandalism a big issue in the vending business?
Since vending machines and bill changers are typically placed in high traffic areas, vandalism and theft is uncommon. If your machine is located in a questionable location, a simple solution is to wrap a chain around the base of the machine and secure it to a fixture in the store. This will prevent thieves from attempting to steal your equipment.

How often will I need to service my machine?
That depends entirely on the type of machine you choose. A gumball machine may only need to be serviced once a month, while a bill changer may need to be checked on more often.

Can I operate my business out of my home?
Absolutely. With this type of business, there is no need for an expensive office space or warehouse.

References
www.wikipedia.org
http://money.howstuffworks.com/question269.htm
http://www.changemachinesdirect.com
http://www.gumballs.com/vending-machine-business-vending-business.html

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