According to an estimate, more than 5 million vending machines are operating in the United State and they generate a revenue of $7 billion every year. This indicates that starting a vending machines business can be quite profitable.
The placement location of a vending machine plays a vital role in making it profitable, so a lot of research is needed to determine the ideal location for the machine. Considering so many factors, all successful vending machine operators place vending machines. We have compiled all those factors below so make sure to read till the end:
Competition and other options
Every profitable business has a certain level of competition and vending machine services are no different. If you have vending machines that dispense snacks or other food items, it is a great idea to make note of any food establishment that can help your business to earn more.
So before the placement, you need to consider the placement of other vending machines nearby that are selling the same food items you are trying to sell. If it is the case, you will need to offer a competitive edge so that people can get attracted to your vending machine.
Availability of power
Most vending machines are operated with electricity so you need to ensure that your vending machine gets an uninterrupted supply of electricity and as minimal power cuts as possible. There should be a power backup as well.
Stable internet connection
If you go with the smart vending machine, you should also ensure that the machine has access to a high-speed internet connection for digital payments and stay connected to the servers for transmitting the data in real-time.
Distance from warehouse
Vending machines don’t require a lot of maintenance however they require refilling regularly. That’s the reason why vending machines shouldn’t be located too far away from the warehouse. It helps avoid logistic issues and saves time as well as money.
Read More: Best Locations for Vending Machines
The daily footfall of the site
The prime motive of vending machines is to serve people so the location of the installation should witness heavy footfall. A vending machine should be installed in the area where people visit frequently as it increases the profit of the vending machines. The ideal place to attract regular buyers can be a pedestrian walkway as most of the time people feel like eating something while walking.
Outside or inside placement
Placing the vending machine outside would be a great idea if it offers drinks and beverages as people want to get hydrated when they are outside. If you want to place it inside, make sure that it is easily accessible to all. One of the great locations for placement can also be exit and entry lobbies as so many people pass through these areas.
Lastly, we want to mention that vending machines should be placed at CCTV monitored locations. If you want to know more about vending machine services, don’t hesitate to contact the experts.