Can I Rent a Vending Machine? Where Can I Rent a Vending Machine
One of the best things about vending machine business is that it’s a low-involvement business, which makes it one of the best methods to make some income on the side without sacrificing scalability!
However, not many want the long-term commitment of buying a vending machine, which leaves a lot of potential investors wondering “can I rent a vending machine?”, and that’s where this article jumps in for help!
Keep on reading as we provide you with a brief guide that shows you how and where to find vending machines for lease or rent!
RELATED READ: How Much Is a Vending Machine in Australia?
Is Renting a Vending Machine Possible?
Yes, You can rent a vending machine instead of buying it. A lot of people would like to give the vending machine business a go, but not all are ready or able to pay the upfront premium of owning one.
On the other hand, some vending machine owners may not want to spend the time or effort to tend to the machine, so they end up renting it to generate a passive income.
Can You Still Make Profit While Renting a Vending Machine?
The profitability of a vending machine depends on a variety of aspects. However, the main ones are always the location and the type of products that are available in stock.
If you establish a vending machine in an inconspicuous location, the machine won’t turn a lot of profits. On the other hand, placing the machine in a high-traffic spot usually generates much more income.
When it comes to profits, a standard snacks vending machine is expected to generate anywhere between $1,200 to $2,000 a month as a net income.
Since vending machine rental is typically less than that, you should still make some profit even if the machine is a rental.
RELATED READ: Are Ice Vending Machines Profitable?
Where Can I Rent a Vending Machine?
There are plenty of ways to find vending machines for rent.
Here’s a quick look at them:
Vending Machine Dealers
The easiest method is to go to a vending machine dealer. These groups usually offer a large variety of vending machines for rental or lease depending on the length of the contract.
Another advantage here is that you can find vending machines in excellent condition. However, the main drawback of vending machine dealers is that they may charge you a little higher than other methods.
Online Markets
Although websites like eBay and Craigslist offer a lot of vending machines for sale, you can also negotiate a rental agreement with the seller.
You can also find communities for vending machines on Reddit or Facebook where you can find these items.
How to Rent a Vending Machine
Now that you know more about vending machine rental and where to find it, here’s how to rent and establish a vending machine business in easy steps:
1. Set Up a Business Plan
As previously mentioned, vending machines can still be a profitable business even if it’s a rental. However, you need to assess the profitability of your situation by considering your budget and available options.
If you already have decided on a spot or a specific vending machine, you should put all that into consideration while developing the plan.
2. Choose and Reach an Agreement for the Machine’s New Location
Even if you still don’t have the vending machine yet, you’ll need to find a spot for it. This way, you’ll not run into unexpected surprises and pay the machine’s rent before it’s installed.
While picking a location for the vending machine, make sure that you choose a high-traffic area to generate more income, even if you’re going to pay a little higher.
You can also negotiate a small percentage of your earnings as a part of the deal to reduce the monthly rent. Keep in mind that some new locations might even let you place the vending machine for free to make their businesses more approachable.
3. Pick the Products You’re Going to Stock
Now that you’ve agreed on the location and the potential costs of placing a vending machine in that location, it’s time to do some research in order to figure out the best kind of items that you can stock in the machine.
For example, if you’re leaving the vending machine in the workplace, you should consider protein bars, coffee, and cheesecake slices. But if you’re in a park, you should go for soda, energy drinks, etc.
4. Consider Your Rental Options
Since you’ve done your research before approaching a vending machine rental, you should have a better idea about the kind of machine you would like to rent.
This includes the machine’s size and features, such as payment methods. Prior research can help you narrow down your choices for the model and type of vending machine.
Similarly, you’ll have a rough estimation of what a location rental would set you back, so you can quickly calculate the net profits after the rental cost and whether it’s suitable for you.
5. Sign a Lease Contract
After picking your ideal type of vending machine and negotiating the costs of rental, you should decide on other essential aspects, such as the length of the contract and whether the rental costs are fixed or variable by years.
Once you’re satisfied with all the terms and conditions of your agreement with the vending machine owner, you can then go ahead and sign the contract.
Many vending machine dealers can also provide repairs and transportation services for a discounted price, so make sure that you keep that in mind before signing.
Final Thoughts
This wraps it up for today’s guide that walks you through everything you need to know about vending machine rental and how to do it!
As you can see, even if you’re going to rent a vending machine, it can still be a profitable business if you pick the right spot and items to stock up the machine with.
So make sure that you always develop a problem plan and contact various vending machine dealers and renting companies before buying one.
