A budding enterpreneur has opened up on her unorthodox business venture, which turned a profit in a matter of weeks.
Chloe Concetta took to TikTok to share her success story and inspire others after setting up a thriving vending machine company. Discussing her journey, she detailed the steps on how to replicate her business model.
“First thing’s first, you need to research,” she said, revealing the groundwork that prepared her to launch her enterprise. “I watched multiple videos and researched for a year before asking myself, ‘What kind of business do I want to have? What do I want to sell in my vending machines? And where do I want to have them?'”.
After nailing down her concept, Chloe sought out her first vending machine, looking into the costs of purchase, stock, delivery, and the viability of including a contactless payment option. She shared her initial investment insights: “It’s all doable with £1,500 to £2,000,” but added that she started with £4,000 by purchasing two machines for her chosen location.
Ultimately, she decided to equip these machines with card readers, gleefully learning that it has become her customers’ preferred way to pay. Yet, the crucial key to such a business lies in securing the right spot for your vending machines – a task that Chloe admits is “very hard to obtain.”
She advised others looking to start out in the same field: “If you don’t have a location, you don’t have a business. My biggest tips are to start with people you know and go with independent business’ [premises] over chains’.”
Chloe reiterated in her clip that location is key as she declared it should always be a case of “location over machine”, before highlighting the importance of liaising with the owner of your machines’ space to identify their needs and determine what products are likely to sell well there.
Chloe added that she was able to source her own machines from eBay and Facebook Marketplace, notifying viewers: “Be sure the seller has good reviews, can offer you warranty in case something goes wrong and that they can ship the machines on pallets to you.”
She closed by detailing the final steps to cash flow, saying: “The last thing for you to do is actually start earning money. Get it in the location and get some stock in it. I used Costco, Bookers and Bestways.”
Her insights met with enthusiasm as one TikTok user commented: “Places like Universities and bus/train stations for vending machines gotta be like goldmines.”
Curiosity arose among her followers, with another questioning: “Where are your machines located? Do you know how hard is it to get it placed in a school/university premises?” To which Chloe responded: “They’re already in catering contracts, go for independent businesses.”
Moreover, she disclosed that investment returns had exceeded outlay after just two months. Another viewer lauded her advice, remarking: “This was super helpful, thank you! Especially the location first and machine second point! Thank you.”
Before you can start profiting from your vending machine, it’s necessary to obtain a business license. This can be done by contacting your local council, but bear in mind that each council has its own set of rules and guidelines for establishing a business.
According to Park Insurance, you may also need further licenses before you begin selling products. “In most cases, you will need a peddler’s certificate and a street trading licence,” their website states. “You will need to pay a fee for the licence both initially and then annually, so make sure you factor these costs into your business plan.
“If you plan to install a vending machine inside a store, business centre, office block or shopping centre, you must also approach the landlord. You may also have to add ground rent or a percentage of the profits to your costs. It’s highly unlikely that they’ll let you install a machine for free!”
