7 Questions to Ask When Buying a Vending Machine
You stumble upon a nice Vending Machine on Facebook or Craigslist and you think this may be the one. Before you get trigger happy, here are seven questions you need to ask to determine whether a used vending machine is a winner or a loser.
1. Why are you interested in selling?
You need to know why the seller is interested in selling. This will help you determine if the machine is actually worth buying. It will also help you determine if there is wiggle room in the price. Any red flags can be used to bring the price of the machine down. Be sure to thoroughly ask questions and pay attention to all parts.
2. Is this machine credit card compatible?
Ask if the machine is credit card compatible. Take their answer with a grain of salt and look yourself. Always look for a 6 pin (MDB) connector on the bill acceptor. If you see a 9 pin or 12 pin connector then it is not credit card compatible.
It’s 2020 credit card readers are essential on vending machines, if a machine is not CC compatible the machine is not worth more than $500.
3. How old is the machine?
Ask this to see if there may be any upcoming maintenance issues that could arise. If the machine is older than ten years ask for $100 cheaper per 5 years.
4. Do you know the capacity of drinks/snacks?
Ask how many items can each coil handle. This will let you know how profitable your machine will be.
5. Do you have a manual for these machines?
Many manuals are found online, but it is always good to have the original manual that came with the machine. The original usually have part numbers that come in handy when you need to order parts.
6. Does the Bill Acceptors take 1s, 5s, 10s?
Although large bill compatible bill acceptors are not a necessity, they are a luxury. Usually, 1s & 5s are standard. Anything over $5 bills can be a true pain.
7. Have there been any repairs to the machine?
The answer you want to hear is yes because if they are selling the machine without any repairs many times that means the machine is in need of repairs. Be sure to test all components of the machine to make sure everything is in working order.
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