Hello everyone, I frequent a local pool hall that dispute the sometimes unbearable service, remains to always bring in a small crowd on any given week night and very busy on weekend. I have always wanted to start some kind of small side hustle and for along time have just been sitting and watching but never actioning any idea I had. Until recently I thought of the opportunity to place coin operated gum-ball machines in each of the 4 bathrooms. In a venue where a major percentage of their business is done in quarters and on some night 75% of their patrons are on some kind of date, I believe this could be a profitable venture.
For reference, I am 23 year old MBA student with really 0 experience in starting businesses outside of the classroom, but ever class I’ve been too, every YouTube video, every book has said to sit and watch and wait for the opportunity to present itself. For those with any experience in this area, how does this idea sound? Are there things I am not considering? What is a reasonable lease for 4 machines? Any other feedback and brutal honesty would be appreciated. Very glad to be apart of the this community and looking forwarded to learning more.
my brother did vending machines as part of his business. since you are an MBA student you should do some research. you need to know what the code requirements are for the location for vending machines and if you require a vending license. probably and not as cheap as you would think in most places.
other than that the issues you will have are:
theft and vandalism to the machines if they are not visible to the employees of the establishment. especially the gumball machines.
the business giving people refunds because they said they put in money and the machine didn’t work. ( this you need to be very clear with the business on your policy. whether you have the customer contact you. ).
liability for damages.