The vending machine industry continues to grow and thrive today. Vending machines sell a wide variety of products, including snacks, beverages, and electronics. In 2023, the global vending machine industry is expected to generate up to $42 billion, an increase of about 11 percent compared to 2022. The industry is seeing steady, consistent growth, and demand continues to rise.
One of the most significant advantages of owning a vending machine business is generating passive income. Passive income means you do minimal work to make money. Once you’ve set up your machines and stocked them with products, you can let the machine make sales for you. Another benefit is flexibility. You don’t have to be present at all times. You can set up vending machines at different locations, and the machines will continue to make sales while you’re away.
A vending machine business requires less capital than other businesses. With as little as a $2,000 investment, you can generally get started. Many operators recommend buying used or refurbished machines, which you can find between $1,200 and $3,000.
It’s important to look at potential locations and how many people use them. Blue-collar workplaces tend to make more money per machine than office spaces, sometimes by two or three times as much. You can make the most income by focusing on places with high cash flow possibilities.
While owning multiple vending machines can lead to more profit, it can also introduce challenges. Stocking machines in different locations can be burdensome and tiring. If your machine is not properly stocked, you could end up losing your location because people expect your machine to be ready to dispense at all times.
The normal vending machine generates over $75 of profits weekly and over $300 monthly. Some vending machines produce much less than this, while others produce significantly more. The more well-placed, well-stocked machines an owner runs, the higher their profits and revenue.
Do vending machine owners make good money? The earnings of a vending machine owner can vary depending on various factors such as the location, type of products sold, and the number of machines owned. On average, vending machine owners can make anywhere from $20,000 to $100,000 per year. However, it is important to note that these figures are estimates and individual results may vary.