If you want to place your first vending machine…
Here are 7 tricks to make sure it generates $1000+ every month:
(Don’t place your first machine without reading this)
Here are 7 tricks to make sure it generates $1000+ every month:
(Don’t place your first machine without reading this)
7. Pricing.
It’s not only about pricing your products properly.
You also need to use pricing psychology to make people spend more money more frequently.
Example-
I offer a high-ticket Monster at $4.00 (67% rtn)
Right next to it, I offer a Rockstar at $3.50 (65% rtn)
It’s not only about pricing your products properly.
You also need to use pricing psychology to make people spend more money more frequently.
Example-
I offer a high-ticket Monster at $4.00 (67% rtn)
Right next to it, I offer a Rockstar at $3.50 (65% rtn)
Little things like this will help attract every type of customer, regardless of how much they want to spend.
Different pricing for different people so EVERYONE can buy.
Different pricing for different people so EVERYONE can buy.
6. Products.
I’ve tried 1000s of products in my vending machines over the last 4 years.
Now that I know which ones sell the best, I double down on them.
Here are 3 that crush every time:
I’ve tried 1000s of products in my vending machines over the last 4 years.
Now that I know which ones sell the best, I double down on them.
Here are 3 that crush every time:
• Energy drinks (Celsius, Monster)
• Microwavable meals (Mac & Cheese, Chicken Alfredo)
• Large candy bags (Trolli gummy worms, Sour Patch Kids)
If you find products that constantly sell out (or close to)...
Always double down & add more of those products.
• Microwavable meals (Mac & Cheese, Chicken Alfredo)
• Large candy bags (Trolli gummy worms, Sour Patch Kids)
If you find products that constantly sell out (or close to)...
Always double down & add more of those products.
5. Marketing.
Vending is a business like any other…
Marketing = more sales.
So I offer promotions & discounts to attract customers.
Every month I’ll offer 20% off 1 item in my machines.
This makes people more likely to buy a Twix bar when they’re buying a cheap Dr. Pepper.
Vending is a business like any other…
Marketing = more sales.
So I offer promotions & discounts to attract customers.
Every month I’ll offer 20% off 1 item in my machines.
This makes people more likely to buy a Twix bar when they’re buying a cheap Dr. Pepper.
4. Types of vending machines.
The better your machine, the more money it'll make.
Here are my 3 favorite machines to place right now:
• Futura combination machine
• Stockwell Smart Cooler
• Cantaloupe Micromarket
These can make well over $1000 in a great location.
The better your machine, the more money it'll make.
Here are my 3 favorite machines to place right now:
• Futura combination machine
• Stockwell Smart Cooler
• Cantaloupe Micromarket
These can make well over $1000 in a great location.
3. Location.
No matter how great a vending machine is…
If it’s in the wrong place, it won’t make sales.
After experimenting with multiple locations for my machines...
Here are 3 of my favorites:
No matter how great a vending machine is…
If it’s in the wrong place, it won’t make sales.
After experimenting with multiple locations for my machines...
Here are 3 of my favorites:
• Luxury apartments
• Medical centres with 3+ floors
• Offices/Businesses with 100+ people
The metric that matters most:
Foot traffic.
Aka how many people will walk by & see your machine every day.
• Medical centres with 3+ floors
• Offices/Businesses with 100+ people
The metric that matters most:
Foot traffic.
Aka how many people will walk by & see your machine every day.
2. Technology.
This comes with having new & high-end machines.
But having technology like credit card readers makes a huge difference.
No one carries cash these days.
There are also apps that'll tell you exactly what products are out of stock so you can restock them ASAP.
This comes with having new & high-end machines.
But having technology like credit card readers makes a huge difference.
No one carries cash these days.
There are also apps that'll tell you exactly what products are out of stock so you can restock them ASAP.
1. Profit.
This one is more for increasing profit margins.
Ordering your products in bulk from places like:
• Costco
• Amazon
• Sam's Club
will allow you to get them for cheaper & still sell them for 3-4x the price in your machine(s).
This one is more for increasing profit margins.
Ordering your products in bulk from places like:
• Costco
• Amazon
• Sam's Club
will allow you to get them for cheaper & still sell them for 3-4x the price in your machine(s).
& those are my favorite tricks to make $1000+ for every machine.
If you want to learn more about placing your first vending machine...
Follow me @MrPassive_ for more like this.
If you want to learn more about placing your first vending machine...
Follow me @MrPassive_ for more like this.
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