Business

Business idea! Make money with a machine

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Bertin Gonzalez He wanted to do something innovative: he knew about the business, loved technology, and knew the pharmaceutical industry. After analyzing the market and determining that drug use was a daily occurrence for the population, it continued to develop PharmaBox, a concept of sale specializes in over-the-counter (known as OTC) pharmaceutical products.

Business idea! Make money with a machine
Business idea! Make money with a machine

The idea seemed fantastic as it gave the population a range of options OTC products regardless of time and place, except for one small detail: The General Health Act prohibited the sale of pharmaceuticals in mobile modules. Faced with the problem, Bertín made use of various legal resources and, after a four-year process, received protection from the in May 2018 Supreme Court that would allow you to operate.

“We have thus received the permit (from the Federal Commission for Protection against Health Risks) and can now operate PharmaBox. This is a practical and easy way of bringing over-the-counter medicines to people, ”explains Bertín. Pharmabox is currently at Expo Guadalajara, Intel Zapopan and a Grupo Posadas hotel, and its CEO says he wants more. If anything defines the vending machine business, it is its versatility, innovation and development capacity that will keep the world market growing at a double-digit annual rate to reach $ 30 billion by 2024 Global market insights.

Performance is determined by the rise of smart, environmentally friendly machines that businesses can use to reduce their carbon footprint. You will also benefit from the increasing number of machines that accept digital payments as well as what is being sold. For example, did you know that there are currently machines that prepare food, such as B. Juice or Pizza? Or that in addition to the consumer goods industry there are various branches of industry that sales can serve?

That’s right, but before you get started fully, check out the panorama and the opportunities the industry offers you.

The news

By doing Sales branch The hot and cold drinks, sandwiches / pastries / snacks, and bottled water machines will continue to be in operation for years to come, but some innovations will emerge that will surprise more than one, warns the latest report on the sector published by Global Market Insight was created. For example, there are already vending machines for textiles / shoes, ready meals, office supplies, industrial tools or even medical instruments.

“There are a lot of innovations. For the health sector, there are machines that can fill out full prescriptions by reading the barcode. This not only enables the delivery, but also the acquisition of information that facilitates inventory control and ensures transparency, ”says José Luis Villar, General Manager of Diasa International, a company specializing in the manufacture and sale of vending machines.

This businessman, who pioneered equipment distribution in Mexico in the 1980s, affirms that while consumer vending machines are still fashionable in some industries that already use them for delivery, they offer attractive opportunities and Control stocks in certain processes.

We’re going to see a major disruption in sales in the industry. There are industries that need to provide their employees with consumables, be it sunscreen, safety equipment, disposable equipment, tools, etc., and vending machines can do this. “The specialization goes so far that New York has a diamond cutting shop where a machine aids the artist’s process of working that gem,” added Uri Fridman, president of Grupo Biz, one of the distributors and sales companies of Equipment With the longest tradition in Mexico with 30 years in the market.

In terms of traditional snacks and drinks, the innovations to come are linked to the technology of machines that reveal robotic arms that perform different processes in their “bowels”. “There are also innovations in payment methods. Although those that don’t have a banknote acceptor in a machine are failing, debit and credit cards are increasingly being accepted, ”adds Uri.

There is also the option of paying the account in a machine with IOS and Android apps. It’s common in the United States, but we’re already seeing it in Mexico. Now that you know some of the key trends in the industry, use the following steps to safely approach your new business.

Start with the right foot

Selling can be interesting if you have a few vending machines, but it really starts to become a business when that number crosses the two or three digit mark. “The vending machine business isn’t the type to make you rich overnight. It takes planning, work and commitment to be profitable and, above all, manageable and scalable, ”says Fridman.

To achieve your goals, put together a business plan that allows you to project market, profit, growth, and return on investment aspects. Remember that success is built day by day. Follow these tips from Fridman

  • Model. The idea is a) that you buy the machines to operate them personally or b) that you invest to rent / lend them to third parties who have a potential point of sale. Regardless of the scheme you choose, create a business plan.
  • Place. Represents 90% success. It must ensure visibility and a large flow of people whose consumption profile matches your product. What are the recurring locations? Corporations, manufacturing facilities, public institutions, hospitals, schools, grocery stores, shopping malls, stadiums, theaters, restaurants, cafeterias, gas stations and spaces near public transport.
  • Access to sales points. To do this, you have to knock on several doors. Depending on the location, you have to go to Administration, Purchasing, Finance or General Management. We recommend that you put the agreements you have made in writing. Include the percentage of sales you grant in exchange for the space (it generally goes from 10% to 20%), the amount of rent of the space (if applicable), and the refill credentials (schedules, processes, etc.) ).
  • Formalities. Remember that when generating income, you need to declare before the tax authorities. Ask your accountant about the number that suits you best. You will also likely need to insure the staff who refill and withdraw the funds. Check the IMSS page for the appropriate operation.
  • Logistics. You need a plan for the assortment of the machine in question and a schedule for collecting revenue. If the product is fragile and small – like candy and snacks – one person can store multiple machines without being strenuous. The opposite is the case for machines with non-alcoholic beverages or products with larger volumes. In any case, consider the possibility of purchasing a vehicle.
  • Providers. Remember that the same product can be cheaper from wholesale suppliers if you buy it in bulk. This way you can offer competitive prices without putting your profit margin at risk.
  • Maintenance. Although the machines are visually simple, the reality is that they have a complex system that requires regular maintenance. Ask the supplier how often you should “fine tune” the machines. Also find out about parts availability, service costs and response time.
  • Payment methods. There are machines that accept bills, coins, credit cards, debit cards, or even prepaid cards. There are also teams that accept payments from cell phones, which in turn use certain apps. Choosing a particular technology depends on your business model.
  • Safety. No one is exempt from vandalism, but you can monitor what is happening through the site’s cameras and take security measures from there.
  • Return on investment. The price range of the machines is between 3,000 and 5,000 dollars (obviously there are more expensive machines). Industry experts say profits are possible between months two and nine. Profit and ROI are determined by the risk you take, management, the type of product, the brands you sell and the point of sale.

As you can see, vending is a growing industry waiting for entrepreneurs interested in mobilizing their money. Contact a dealer and look for references among entrepreneurs in the middle.

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