How much does it cost to start a vending machine business? | Vending Expert Series Ep. 4
Smartven started a new form of informative series on vending machines titled Vending Expert Series. The series with more or less 2-minutes long will be in the format of asking questions to the vending machine expert, and hopefully can help people understand better about vending machines in a less text-book way. Previously we have learned the history of vending machine and who started the idea. This fourth episode will cover the question of “how much does it cost to start a vending machine business?”. Let’s take a look.
Business Plan
When we start or plan a business, it also requires well-planned schemes that we follow to avoid failures (knock on wood). This includes financial planning, as we have to understand the total cost that we need to spend. Startup costs sometimes can be really high, so having a business strategy to calculate how your money flows, can be your key to success in a long-term, especially when you've been dreaming to expand the business later on. Starting a vending machine business, which has lower startup cost, can be an option for running a retail business without needing to open an actual store. If you probably own an online store, vending machines can also work as a way to bridge your brands to an offline exposure.
How much does it cost to start?
Then it triggers the question, is it really worth it to start your business with a vending machine? Well, let's break it down. As a start, you can opt from buying or renting the vending machine. The cost ranges between Rp. 30,000,000 to hundred millions of Rupiahs. At times, some brands custom the machines to go well with their marketing campaigns. Renting is also cheaper for when you want to do a short-term plan, maybe for special events or showcasing limited edition items. Next step, you need to mind the rental cost of the location, both the cost to place the machine and the electricity bills that you should pay either monthly or yearly. Of course the location you choose can charge differently, so you need to add this cost into your business note. Another step is to know the logistic fee. The easiest way to understand this is the cost you need to transport your machine to the main location. For the last step, as your vending machine needs to be connected to the internet, you have to set up an internet connection and also make sure the monthly internet bills are paid so your machine is constantly online.
The weekly series will cover more interesting topics about vending machines, so make sure to check the video on Smartven’s YouTube channel, and give it a thumbs up, comment, subscribe and share the video! You can always check our website and Instagram page for more information. Stay healthy and see you in the next episode!
English version written by: Nadhiya Pradhanitasari
