CoinStar Pimps Tech Stuff Through Vending Machines
Seattle – CoinStar, the owners of the Redbox kiosks are now integrating electronics like Ipads, e-readers, and premium coffee through their vending machine operations in Seattle Washington.| Full Story
The Seattle News reports, “Research firm IHL Group estimates the North American market for automated kiosks will exceed $1.1 trillion in 2015, up from $715 billion in 2010.”
Can you believe the revenue generated from having the right vending operation. The world is vast in opportunities to make sacks of money from automated vending routes.
Coinstar currently operates over 30,000 Redbox locations and research has provided information that the market can hold another 30,000 locations.
With the integration of coffee alone each kiosks projects gross revenue of 12,000 dollars annually. With the addition of tech savvy electronics each kiosk is projected to gross $90,000 to $100,000 thousand dollars per year.
Tell us what you think about these numbers and ideas in the comments section below.
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Does that mean mechanical bulk vending machines will be obsolete and out of business?
No.Evolving or changing but never obsolete or out of business.
Thanks Randall
I asked because I just bought a lot of bulk machines and plan on being big but was a little concern if these weren’t going to do good in the long run If it doesn’t keep up with technology. All commerce seems to be electronic now. How do you keep up with the trends?
With bulk equipment keeping up with the trends is more along the lines of changing all of your 1″ items from .25 cents to .50cents. Or all of your 2″ items from .50 cents to now accept .75 cents or a 1.00 vends.
Other changes would be the type of places your machines will be popular. Perhaps a market setting today and perhaps a bulk vending machine selling green products at the kiwanas club tomorrow.
Really the two most important things in bulk vending are being able to land locations yourself and servicing them on time. You learn those to things and you will do fine.
I just purchased some orders of sticky mix and ninja men 1″ inch toys. Haven’t place them yet. Should I set those at 50 cent then? Will they still sell at that price?
Usually companies with lots of locations and more overhead are changing the prices on the 1″ inch and 2″inch prices. You have to purchase higher end products and place them in locations with more traffic. I would assume that your overhead is low and that you are an owner operator.IN our case lets say you have a vending rack that is getting so much sales that it empties in a week and you have to go fill it. That is the kind of machine perfect for price hikes. Sell less and service less and you bring in the same revenue. Now if you have some decent locations that sell a lot one option you can do to bring in more revenue is have a couple 1″ bulk heads a .25 cents and on on .50 cents to offer a higher end product. That is the same for racks that you have multiple 2″ items as well. Have some set for .50 cents and one high end item set to vend at $1.00 dollar. I hope that helps you out.
Wow! That made a lot of sence. That helped a lot. I’m am just getting in to the toy game of bulk vending. From your experience what toys SELL!!? And what toys are high end?
Awesome. Products that sale will vary depending on where in the United States you are located. I touch on the type of products to sell in this post and I will be posting some other posts regarding merchandise strategy.http://how2vend.com/?p=235 Thank you for your questions.