Money-making side hustles are the dream of many, but how do you know if it’s a business idea worth trying? If you’re looking for ways to monetize your vending machine business without a business plan from Microsoft Excel spreadsheets and other inventive methods, there’s a relatively low barrier to entry – invest some money in new vending machines, and that’s about it!
Why a vending machine would be a great side hustle
No one ever said being a side hustler was easy. But a vending machine could be your perfect solution if you want to make some serious money.
Side hustles are a great way to make extra money, and there are no limits to what you can do with one. Vending machines make an ideal side hustle because they’re easy to set up and manage.
All you need is a machine and some stock, and you’re ready to start turning your machine into a money-maker. Here are four tips for turning your vending machine into a side hustle:
1) Stock the machine with high-value items that customers buy frequently. It means items like snacks, drinks, cigarettes, and pizza.
2) Increase the price of these items by 10%. It will ensure that customers are buying more than just snacks and drinks.
3) Sell these items door-to-door or through local event distributions.
4) Use social media to promote your business and attract new customers.
Proper equipment/supplies needed
When starting a vending machine side hustle, you’ll need a few essential things.
The first is a vending machine. If you’re looking to become self-sufficient, you must have at least one machine handy. However, a few other pieces of equipment are helpful too.
Here are the necessary supplies:
-A coin-op/cash drawer for your machine
-A printer
-Envelopes or labels for your products
-Something to hold the products (a clipboard, a box, a storage container)
-A scale
-Tape measure or ruler
-Scotch tape or clear packing tape
Putting your money in and going like mad
Vending machines are a huge money maker. They’re not just for teenagers stocking up on candy bars anymore. Sometimes, people are actually making money off their vending machines!
It would help if you did a few things to turn your vending machine into a side hustle that can bring in some extra dough. Here’s what you need to do:
1) Choose a niche market. If you want to make the most money off your vending machine, you should focus on industries in high demand. For example, if you have a vending machine that sells energy drinks, it would be smart to target areas with a lot of nightlife like downtowns and college campuses. By doing this, you’ll be tapping into a market that’s already patient and willing to spend its hard-earned cash.
2) Keep your prices high. One of the best ways to make money from your vending machine is by charging high prices for your products. This way, you’ll be able to convince customers to buy more than one product at a time. Plus, it will allow you to make a commission on each purchase!
3) Use specials to your advantage. If you have a decent-sized machine, try using specials to attract more customers. For example, if you have a $1 energy drink special, ensure to show that data in your candy machine. This way, people will know they can save money by coming to your machine instead of spending money at a bar or convenience store.
4) Keep the environment clean and tidy. When people enter your vending machine, they’re probably looking for something to take their minds off. That’s why it’s important to keep the environment clean and tidy. This way, customers will feel like they’re getting value for their money when they buy from you.
Keeping the machine clean for peak sales
If you own a vending machine, your first goal should be to keep it clean and running at its peak performance. Here are a few tips for keeping your machine in top condition:
Pick the right type of candy: Most vending machines dispense just CHOCOLATES, but there are plenty of other types of snacks that can be bought (see our article on the best snacks to buy from vending machines). If you carry a varied selection of items, it will be easier to attract buyers and keep them returning.
– Most vending machines dispense just CHOCOLATES, but plenty of other types of snacks can be bought (see our article on the best snacks to buy from vending machines). If you carry a varied selection of items, it will be easier to attract buyers and keep them returning. Make sure the machine is regularly checked – Once a month or so, check each candy bar and express item for damage or moisture accumulation. If something is wrong – adjust the price or remove an item from the sale. Otherwise, customers may not feel comfortable leaving money behind, and your machine may not run as smoothly.
– Once a month or so, check each candy bar and express item for damage or moisture accumulation. If something is wrong – adjust the price or remove an item from the sale. Otherwise, customers may not feel comfortable leaving money behind, and your machine may not run as smoothly. Clean the interior of the machine – One time every six months or so, take a brush and scrub down all the surfaces inside the machine. It will help keep dust and debris from building up, making it difficult for the machine to function optimally.
– Once every six months or so, take a brush and scrub down all the surfaces inside the machine. It will help keep dust and debris from building up, making it difficult for the machine to function optimally. Keep your vending area tidy – A messy area will discourage potential buyers, who may choose a more orderly machine nearby. Clear away stray boxes or toys, and ensure there are no cords or other obstructions in sight. It will help to keep your machine running smoothly and limit the chances of accidents.
Conclusion
As a student, you know that sometimes money is tight. Turning your vending machine into a side hustle is a canny idea. Not only are you making some extra cash, but you’re also taking care of your own needs and freeing up valuable time to spend with friends or doing other important activities.
