How to Start a Vending Machine Business

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What’s a vending machine business?

Looking for a low-risk business to replace your full-time income? Try vending machines! Vending isn’t just snacks and drinks anymore. And in the right location, it’s hugely profitable with minimal time invested. While you’re here, grab your free copy of the 5 Building Blocks of a Happy Gay Life.

Hear Lakinya’s advice on vending machine business

Investing in a vending machine

Lakinya Francis is the Founder of iKrave Vending, a consulting firm dedicated to helping aspiring entrepreneurs build their own vending machine business. Lakinya offers a series of online training courses as well as 1:1 mentoring to support clients, and she is on a mission to help people achieve financial independence through vending machine operations.

On this episode of Queer Money®, Lakinya joins us to explain why vending is better than having a brick-and-mortar store and share the diverse range of outside-the-box products sold in vending machines today. She describes the startup costs associated with vending, the time it takes to service machines, and the potential profit you can earn with a vending business. Listen in for insight on pitching a machine to property owners and learn how Lakinya can help you launch a business in vending!

[click_to_tweet tweet=”“If you have kids, this is a perfect way to involve them in a fun business to get them going and teaching them some financial things.” – Lakinya Francis” quote=”“If you have kids, this is a perfect way to involve them in a fun business to get them going and teaching them some financial things.” – Lakinya Francis” theme=”style3″]

Topics covered with Lakinya Francis

The diverse range of outside-the-box products people are vending now
What makes vending better than having a brick-and-mortar store
The startup costs associated with becoming a vending machine entrepreneur
What profits look like in vending and how soon you could start to make a profit
How you might scale a vending business to replace your income
How Lakinya’s clients are having success with vending beauty products
How long it takes to load and clean a pair of machines on a weekly basis
How to pitch a vending machine to a property owner
When Lakinya suggests securing general liability insurance for your machine
Where to buy items wholesale to fill your vending machines and what products have the best ROI
How to decide where to place your vending machines for the best return
How Lakinya can help you launch a vending business of your own

Connect with Lakinya

Resources for your vending machine business:

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