How to Start a Hair Vending Machine Business? 9 Step Process
When you hear the words “vending machine”, what’s the first image that comes to your mind? Most people picture a machine selling snacks, candy, canned drinks, DVDs, or coffee.
But did you know there are vending machines designed to sell eyelash, hair-based items, and hair-related products?
That’s right, vending machines aren’t just about food and beverages, they’ve evolved to present accessories and care products in a variety of departments such as beauty, hygiene, and electronics.
To start your hair vending machine business – figure out the features you want in it and the name of the business. Next, choose the products to stock, select a suitable location, register the business, get the required paperwork, sign contracts with location owners, and keep track of the business.
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How to Start a Hair Vending Machine Business?
Hair vending machines are becoming more and more popular in the beauty sector thanks to their convenience and flexibility.
If you want to get on the wagon and you’re wondering how to start a hair vending machine business, then you’ve come to the right place.
Today, we’re discussing all the steps you should know about to start a hair vending machine business.
Step 1. Decide Whether to Buy or Lease Your Vending Machine
First things first, you should decide whether you’ll be buying or leasing your vending machine.
We always recommend buying vending machines if that’s within your budget. Although the initial cost is higher than leasing, you’ll be able to cover them from the profits soon enough while being the actual owner of the machine.
Leasing is essentially renting a machine. It’s a good option if you’re tight on money at the beginning, but it won’t bring as much profit as buying a machine would.
This is because the company you’ll be leasing from will charge you a percentage of the income. You can negotiate on the exact percentage, but since you’re not the actual owner, your business won’t be as lucrative.
Step 2. Figure Out the Features You Want in the Vending Machine
The next step is to figure out the feature you want to include in the vending machine. Keep in mind that the more features a vending machine has, the more expensive it’s going to be.
Here are some features to consider adding to your hair vending machine:
- Touchscreen (different sizes are available)
- Card payment support
- Remote monitoring software to track stock levels
- LED lighting
- Sensors for stuck items
Step 3. Come Up With a Name for the Business
Now, it’s time to come up with a name for your business. Besides making sure it’s easy and catchy, it needs to be unique to stand out among competitors.
Once you’re set on a name, it’s a good idea to run a name search for companies or corporations with the same name. The last thing you need is to go register your business, only to find out that the name’s already taken!
Step 4. Choose the Products to Stock
The next step is to choose the products you’ll be selling through your vending machine.
Obviously, you’ll be stocking hair weaves and hair care products, but we also recommend including hair/beauty accessories and body creams. Not only will this provide more options to attract more customers, but it can also boost your chances of getting a sale.
Here are some suggestions for hair and hair care products:
- Weaves
- Extensions
- Shampoos
- Conditioners
- Hair spray
- Hair dyes
- Serums
- Oils
- Gels
Here are a few suggestions for hair/beauty accessories and body creams:
- Hand creams
- Moisturizers
- Sunscreens
- Foot creams
- Exfoliating creams
- Lip balms
- Fake lashes
- Lash glue
- Fake nails
- Nail polish
Step 5. Select a Suitable Location
The location of your hair vending machine is crucial to the success of the business as it determines the traffic your machine gets, and in turn, affects the number of sales generated.
As such, the busier the area you choose the better. But keep in mind that this will require more frequent maintenance and restocking.
Ideal places for a hair vending machine are college campuses, train stations, airports, and hotels.
Step 6. Register the Business
With an entity type for your business in mind, for example, Sole proprietorship or LLC (Limited Liability Company), your next move should be to register it with the appropriate parties within your state.
The papers required for registration and the cost of the procedure differ from state to state. But the good news is that you don’t need to go down there yourself, many states are making such processes available online.
Step 7. Finish the Required Paperwork
Research any local, state, or federal regulations or laws that apply to your business then make sure you complete the related paperwork. It’s important to get all your permits and licenses ready for a smooth operation.
While you’re at it, don’t forget to set up a business bank account to facilitate accounting activities. This also helps maintain your professional aesthetic.
Step 8. Sign Contracts With Location Owners
With all the previous points done, it’s time to sign official agreements with the location owners or managers. Here are some points that vending machine business contracts usually include:
- The names of the parties
- The period of the agreement
- The type of the vending machine
- The products sold
- The exact location of the machine
- Responsibilities regarding maintenance and servicing
- Rights to replace, add, or remove, machines
- A termination clause in case of voiding terms or failure to provide enough profit
Step 9. Manage Your Hair Vending Machine Business
Last but not least, you’ll start managing your hair vending machine business once it’s up and running. This includes maintenance, restocking, addressing complaints, tax fillings, profit reports, sales reports, and so on.
Wrap Up
There you have it, a simple guide on how to start a hair vending machine business. As you can tell by now, starting and running a successful business of this sort takes a lot of planning and doesn’t happen overnight.
The process requires you to invest money, effort, and time. But if you stick to it, the profits will eventually come through.
Also Read: How to Use Beauty Vending Machines: For Sale (BUY NOW)
