CBD products are becoming more and more popular thanks to the many benefits of CBD as far as promoting health and wellness.
One easy and profitable business idea in the CBD niche is starting up a vending machine business and selling a range of CBD products.
You see, a vending machine business isn’t as resource-intensive as a brick-and-mortar store, and you can get incredible profit margins.
You just need to buy a new or secondhand vending machine, stock up the inventory, and then install the machine in a suitable location.
The one major factor upon which the success or failure of your CBD vending machine business hinges is location; where you install it.
Ideally, a CBD vending machine should be installed in an easily accessible location, and there needs to be sufficient foot traffic.
20 Best Locations for Placing Your CBD Vending Machine
The following are some of the ideal locations to place your CBD vending machine; great machine placement influences profits.
1. Serviced offices and coworking spaces
2. Public transport hubs e.g. ferry slips, bus stops, and airports
3. Shopping centers and department stores
4. Movie theaters
5. Health centers, clinics, and nursing homes
6. University grounds and campuses
7. Theme parks and water parks
8. Gyms
9. Sports arenas and stadiums
10. Museums and libraries
11. Beach and hotel resorts
12. Massage parlors
13. Rehab centers
14. Gas stations
15. Nightclubs
16. Beauty kiosks and barber centers
17. Golf courses
18. Music arenas
19. National parks
20. Shrines and prayer centers
How Much Does a CBD Vending Machine Cost?
There isn’t a fixed price considering that many factors are at play; is the machine new or old? Is it basic or stacked with unique features?
Generally, the amount of money you need to secure a CBD vending machine can range anywhere from $1000 to $30000.
If you’re working with a small budget, consider buying a secondhand vending machine, and you can upgrade later when profits come in.
Considering that CBD products are in high demand throughout the country, you can make a 100% ROI within a few months of operation.
As a CBD vending machine business owner, the business will not use up a lot of your time; it will need roughly five hours every week.
CBD vending machines are highly profitable, but different factors influence profitability; these factors include machine exclusivity in the market, the time the machine is patronized, the range of products sold, system efficiency, and product markup.
Features of Smart CBD Vending Machines
These are late-model CBD vending machines. The difference between them and traditional vending machines is as obvious as light and day. Traditional vending machines are somehow rigid whereas smart vending machines are feature stacked and efficient.
- Browse the menu with an interactive touchscreen
- Climate control features to safeguard your inventory
- Superior checkout systems
- Age verification capacity
- AI inventory management systems
- Swift and superior delivery systems
- Automatic refunds processing
You can buy a smart CBD vending machine if you’re operating on a massive budget, but if your funds are limited, we suggest that you buy a traditional machine or a secondhand vending machine.
Where to Buy CBD Vending Machines
If you’re looking to start a CBD vending machine business, but you’re green about it, you might struggle with even the basics. The internet is your friend, and before buying a machine, check to see the online reviews. Assessing their reputation can stop you from making regrettable mistakes. The following are some trusted platforms where you can buy CBD vending machines with ease.
Are CBD Vending Machines Legal?
CBD, or cannabidiol, became legal in 2018 via the passing of the farm bill. By extension, CBD vending machines are 100% legal.
Although the extraction and sale of CBD are legal, the government requires that CBD products mustn’t contain more than 0.3% THC.
Thus, when buying inventory, it’s critical that you source products from reputable companies, whose products have been lab tested.
CBD Vending Machine Inventory: Popular Products
One of the reasons why CBD is popular is that CBD products come in a diverse range; they are highly versatile, and favorable to people.
But still, you need to research and find out what types of CBD products are popular and fitting to the needs of your market.
The following are some of the CBD products you can add to your inventory; vapes, gummies, isolates, edibles, pet CBD, drinks, bath bombs, bath salts, creams, concentrates, live resin, and capsules.
Is Age Verification Important in CBD Vending Machines?
The age verification feature is designed to keep away minors from using the vending machine. Since CBD may be consumed by people of all demographics, it’s pointless to activate age verification. CBD is a powerful and nutritious cannabis-derived supplement that exerts a range of therapeutic benefits and powers on the consumer; it improves focus and energy levels and improves cognitive function.
