Who doesn’t love vending machines? They are a simple but effective way in which you can reach more customers. Furthermore, it is one of the best ways to grow your business or add a stream of income. The primary reason many people choose a vending machine is that they simply do not have the time or energy to talk to a vendor. They simply want to pay, grab the product, and get out of the way as soon as possible. So, if you are thinking about buying a vending machine, you must ask a few questions before you arrive at a decision.
When it comes to the best premier vending machine company in Toronto, RegionalVending truly understands the extensive features of an automat. Hence, we know that these are the questions that you must be asking your vending machine supplier.
- Top questions to ask before buying vending machines
- What is your experience in supplying vending machines?
- What locations does your service cover?
- How many units do I have to buy?
- What are the kind of vending machines you offer?
- Does your vending machine have a VMS?
- Should I buy a new one or a refurbished one?
- Does it come with liability insurance?
- What kind of profit can I expect?
Top questions to ask before buying vending machines
What is your experience in supplying vending machines?
This goes for every sector. The experience of the supplier is directly proportional to the quality of the customer support they provide. At least in most cases, this is true.
But, this doesn’t in any way mean that newer vending machine suppliers do not do good. An experienced supplier is more likely to have more options for you than a newer one.
What locations does your service cover?
You might consider buying one from your local full-service vending machine company. But, it is not wise to resort to a supplier that only serves your area.
Suppliers who have stores all over the nation prove to be better at customer support and quality products. So, you are sure to receive the best service at all times.
How many units do I have to buy?
The answer to this question depends on the purpose of you buying a vending machine. If you own a retail store and want a vending machine as a means to extra cash, you need very few. But, if you want to make it your mainstream business, you will need to buy more than 50 units.
Furthermore, this question will clarify whether the supplier is capable of giving you the units and the service you want. The premier vending machine company in Toronto is capable of meeting your business needs. You would never need to compromise and settle when you have so many options to choose from.
What are the kind of vending machines you offer?
Now, to the important part of our blog. Before you decide to buy a vending machine, you need to understand that there are many varieties. Each variety serves a different purpose. So, you must decide what kind of machine you want for your business.
Asking this question to your supplier will help you narrow down your search. It is better to communicate your requirements to the supplier. They are sure to find you the automat that suits you.
The following are some famous type of vending machines:
- Beverages Vending (Hot & Cold)
- Tea / Coffee Vending Machine (tea, lattes, double espressos, café mocha, french vanilla and regular coffee)
- Flavour Soda
- Cold Drinks (Pepsi, Coca-cola can, Beers)
- Fresh food (burgers, chicken sandwiches, cheesesteaks, burritos, wings, hot pockets, Hormel dinners)
- Healthy Choices
As you can see, the type depends on the food you want to store in your machine.
Does your vending machine have a VMS?
Most vending machine suppliers nowadays offer a VMS (Vending Machine Systems). It is software that can monitor your machine. Those systems help you automate the process of placing an order when you need to restock.
The global vending machine market size was valued at USD 30.30 billion in 2018 and is expected to register a CAGR of 9.4% from 2019 to 2025. Growing demand for on-the-go snacks, drinks, etc. due to a hectic lifestyle is boosting product sales. – Read full
Furthermore, you can also track the delivery and inventory from the place of your convenience. VMS is an extremely useful system that you need to have. So, when you buy a vending machine make sure to find a supplier who provides a VMS.
Should I buy a new one or a refurbished one?
Many businesses opt for a refurbished vending machine because it is cheaper. But, depending on your requirements, the need for a new machine may be higher. So, ask your supplier what they think will suit your budget and business.
If you are just starting your business, it is better to choose a refurbished one. It will save you money, and also help you understand whether if that works for your business.
However, a business looking to build its brand value must opt for the latest vending machine. It will help them establish their quality.
Does it come with liability insurance?
Are you worried about someone breaking into or vandalizing your vending machine? Worry not, because most vending machine suppliers insist on having liability insurance on their products. Some businesses place their vending equipment outside their stores. Hence, it is more susceptible to theft.
This is why the premier vending equipment company in Toronto insists you sign up for insurance right away. When you have insurance for your machine, the cost for repairing any damages falls on the company and not on you.
What kind of profit can I expect?
You shouldn’t be too optimistic about your new venture. Because the profit varies depending on the number of people who cross your machine.
You cannot expect huge profits on day one. But, strategically placing your vending equipment significantly improves your profits.
Another deciding factor is the products you place inside the vending machine. If you are in an area where there are fewer candy stores, you can set up a candy vending machine.
Therefore, the kind of product you stock and the location you place them decide the success of your vending machine business.
Vending machines are a great way of improving your business horizons. You receive more customers and in turn, increase your revenue. However, choosing a good supplier will result in good results and vice versa. Take your time researching the supplier before you make your final decision.