A business idea that is not very common and a bit disruptive is what exactly the market might be looking for. I came across some beauty vending machines recently, and I decided to give the idea a try and dig deeper to understand the business. Instead of getting your favorite can of soda, you are one selection away from your favorite lip gloss. Interesting, right? The idea of vending machines is, of course, very old and repetitive. However, a beauty vending machine is a new twist. Let’s discuss some thoughts around this specific business idea and how you, our rising entrepreneur, can start one.
Just an important disclaimer before I set off and tell you more about the business: all the guidelines and how-tos I tackle here are based on practical experiences managing projects and interacting with business owners from different fields in my own context. These only serve as a guide for you. So don’t forget to check how fit any of my conversations to your context and business rules.
Here are my main big thoughts about the beauty vending machine business.
A Beauty Vending Machine Can Have
A lot of related products that benefit different people.
Don’t picture a pink and purple vending machine for this business. This is only one way of marketing your vending machine, but you don’t have to do it that way.
Think about anything and everything that busy people can need on the go and can forget many times. Skincare tools, hair accessories, grooming products, and makeup samples are all unique items that can fill a whole vending machine.
Starting A Beauty Vending Machine Business Is Good Because
It’s practical, convenient, has a market demand, and the narrative says so.
I know you might be a little bit concerned this business might be outdated. Don’t worry, it’s not. In fact, it’s growing and expected to continue doing that.
I’m bringing some studies to your door to understand more about the industry trends for vending machine businesses.
Mackinsey’s piece “Did online delivery kill the vending machine?” raises a good for vending machine businesses. The answer is no. Vending machines will survive despite the increase in online delivery trends. Not only that. It is also expected to reach $132.7 billion by 2027, and that’s huge. The reason behind this is that vending machines will continue to be popular for locations that have a lot of on-the-go passengers. Examples on the top of my mind can include airports, office buildings, and hospitals. Think about all the possibilities, and you will find many spots that are perfect.
One more reputable source to check for updates on the vending machine business industry is Deloitte.
Deloitte’s paper pinpointed another reason why the market for vending machines is growing. Here comes my favourite word. Convenience. Again, people are looking for convenient and quick solutions that are yes available through online shopping but not as convenient as through button clicks.
To Start A Beauty Vending Machine Business, Consider
Some of these perks.
As I recently always do in my writing, I will not be telling you about the steps of starting a business that you probably have memorized by now.
Instead, let me tell you some perks related to your beauty vending machine business just to give you an idea about what you are getting yourself into.
Your location is everything. Choosing strategic locations for your beauty vending machine (or any other vending machine, by the way) is crucial. We were staying in a hotel that was not surrounded by many supermarkets or pharmacies. For me, this is one of the best locations for a vending machine.
Also, early closing hours of stores in many cities make up for a really good opportunity for a vending machine. Look for hotels, motels, and dormitories that are often crowded by residents and would benefit from your beauty vending machine.
My last reminder for you would be to choose a really good vending machine supplier for your beauty piece. I am sure we all got frustrated at a time in front of the vending machine because they were empty, not working, or did not list the prices on products!
We Can Help You Start Your Business With
Two things: tools and experience. And we can provide you with as much as you need from both.
We have many downloadable pitch decks and business plan templates on Albusi’s website that serve as excellent guidance to prepare your business tool for the beauty vending machine gig. These will give you a comprehensive idea to write your elevator pitch, problem statement, the solutions that you are proposing, financial projections, and investment asks.
We also build your own! The Albusi team can craft a one-of-a-kind pitch deck just for you! This is another exceptional service to entrepreneurs that you should check out. The linked page will tell you more about what our previous clients say about this service. You will get the chance to have your own branded pitch deck for your beauty vending machine business.
This is not just it. If you need to talk more about your idea, you are one phone call away. Just get in touch with one of our freelancers. They will help you with everything you need to plan for your business. They are great at pitching and will help you with the tweaks you need to pitch your idea to others, too.
Remember that anything and everything that busy people can need on the go and can forget many times is a really good opportunity for starting a beauty vending machine business. They are not all pink and purple.
Happy Learning!
Meet The Author Of This Article
I’m Jenny Ayman, a project manager in the development field with specific knowledge and experience in capacity building and entrepreneurship programs. I aspire to transfer the hands-on experience I gain in my professional career through writing.
Also, if you need help planning your business, I recommend checking out some of our freelancers’ business plans or pitch decks!
