Is Vending Machine Business Profitable in India in 2021?

In recent years, along with the development of technology, vending machine business has become profitable in India in other countries also. And there are vending machines that only need to choose to put money in to choose for themselves convenient products such as soft drinks, coffee, cigarettes, and cosmetics.

Products … The vending business they are not unfamiliar with other countries in the world, but in India, this model is usually only in big cities, or places like school hospitals, etc.

Is Vending Machine Business Profitable?

Vending machine business can be profitable in India as well as other countries also. Following are the points that will explain how the vending machine business is profitable.

Vending Business Is an Inevitable Trend

Obviously, this is considered a future trend for businesses and individuals who want to invest in the business, when the era of technology 4.0 hour by hour, minute by minute changes the world.

Is Vending Machine Business Profitable

The convenience that vending machines bring to people is extremely great, indeed, in the face of human haste, the number of quick product acquisitions is necessary to avoid queuing to buy and choose like the way. more traditionally, their prices are fixed and nowadays the direction of buying with e-wallets, integrating payment with QR codes, codes,… enhances convenience for selection. 

Save Investment Costs

For businesses or individuals, the cost of facilities is huge if compared with at least 60 million buying vending machines (the lowest price on the market today), that cost is also considered the “price. soft ”when investing.

Then save on “people” costs, will not need to hire too much labor as a traditional business, and also do not have to worry about the story of taking time off when busy. 

Also read: 15 Profitable Business Ideas for Youth in India (2021)

Just as the cost of the space is not as high as renting a traditional space of one square meter, it is possible to have a convenient booth as well as not needing too much cost for the traditional booth decoration.

24/7 Cash Flow Business Solutions

The form of vending business can be considered as an automatic “cash flow” solution that is flowing into the pocket automatically when day or night there is still demand for the business to be almost stable because those are utility machines ignore the “security” worry that having surveillance cameras can also be a big cost, but obviously they can be operated without worrying about sunshine, rain, less sickness and maintenance to take advantage of capacity. 24/7.

Problems Encountered when Doing Vending Machine Business?

Vending Machine Location

This is obviously the most difficult problem to solve when machine placement is the factor that needs to be most concerned about besides the cost of machines and equipment of vending machines. 

Because of the fact that the machine placement is related to the cost of renting the premises as well as greatly affecting the number of customers per day. Therefore, it is necessary to consider the locations: entertainment areas, hospitals, stations, schools, office complexes, … are ideal locations to place the device while crowded but will also “cost will be high ”.

Selected Product Item

Which items are essential to order for sale on vending machines is the thing to note, to choose from? If the input is high or low according to the needs of the customer, e.g. in winter, products such as soft drinks will sell less in the summer. 

It is also necessary to select food items, products, and cosmetics that have been tested for quality through product declaration to ensure users.

Cost of Machines of All Kinds

Different types of vending machines will have a combination of technologies for different utility applications, such as paying with cards or cash, whether to return excess money to customers, or to have a large machine space. small to be able to hold more or less products, or the origin of goods, … So you can consider when choosing 

Operating and Repairing Costs

As mentioned above, choosing vending machines for smooth operation will limit the cost of running and repairing, but often you need to take into account the unexpected risks of money jams and errors. programming,… can take place.

If you want to have a large business, you even need a maintenance team to be able to avoid the risks.

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In addition, it is important to keep in mind to ensure the legal procedures and business licenses for you . Because the name of individuals, or businesses, … to ensure legal benefits, full tax as well as product invoices, …

Conclusion

With the advantage of selling 24/7, much more advantageous than traditional forms of sales, this is the solution to the business trend, but in fact, if applied correctly, it will promote great potential and that. These are also suggestions that C share good knowledge for young people who go into vending business.

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