- » Ribbon Cutting For Newest Book Vending In Michigan!
- » New Book Vending Machine For Oklahoma Elementary School
- » Best Vending Machines To Buy From Global Vending Group
- » Professor Inchy At Your Service | Illinois Book Vending Machine Teaches Children
- » The Global Vending Guarantee | Servicing Your New Vending Machine
Pros and Cons of Buying Used Vending Machines
Posted by Global Vending Group, INC on July 16, 2014
Once you decide the vending machine business is worth your interest, it’s time to consider machines. Are there benefits to used vending machines that go beyond the money savings? What are your risks when buying used vending equipment? Here is a closer look at the pros and cons of the transaction.
Assessing the Vending Machine Quality
Consumers may respond more favorably to a brand new vending machine, but there are many ways for used models to bring in comparable revenue. Your first job is to make sure the machine is mechanically sound. Has the vending machine been refurbished and tested for use? If so, your customers are going to require functionality above all. Make sure the used vending machines you buy are refurbished and tested for operation.
Weighing the Benefits of the Cost Savings
Clearly, you stand to save money when you choose a used machine over a brand new model, but there are tradeoffs. For example, does the clientele you are targeting prefer shiny, new things? Depending on where you are planning to place the vending machine (and what products you offer), this part of the decision is important. Investing more to see a larger return will make more sense than going for a budget model but selling at lower volumes.
Used Vending Machines and the Terms of Agreement
How you finance vending machines, what delivery fees are involved and whether you have warranty coverage can make or break a deal. Find out if you have coverage for in case a used machine breaks down before its time. Likewise, the amount you owe on delivery or the rate at which you finance the machine could have long-term implications on the investment. Talk it over with your accountant or partners before deciding.
Flexibility and Variety
When you are taking your first step in the vending machine business, there are variables you want to explore and tests you would like to run. Used vending machines offer you flexibility and ways to explore your opportunity in different markets. Even if the cost of a used model is only 20-30% lower than new ones, this smaller investment may provide you with much-needed leeway when you’re starting a business.
When you have done your research, Global Vending Group offers used and new vending machines that will jumpstart any business and for more information please visit www.GlobalVendingGroup.com or contact us at 800.592.4220 with any questions.