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TwirlyBanana
TwirlyBanana
Chubb

Vending machine startup

Hi guys, I will describe my situation—

Introduction—

  1. I work at an MNC that pays me monthly 74k.
  2. I have 2 yoe in fontend development and I like my work excpet the only thing that makes me not like my work is the constant reminder of deadlines.
  3. I therefore feel like doing a side hustle like a business and after some point leave my job.

Idea—

  1. Start a vending machine business in India.
  2. While there are few companies which have started this business in India in the past 2 years. I see a growing market in the future here.

Finance-

  1. I have around 1.54L in mutual funds and around 60-70k in my bank account.
  2. A vending machine costs around 2L and operating it will cost around another 15-20k in products.

I need a suggestion on a plan on how I can start the business with the amount of money I have.

my goal- I come from a very lower middle class family, I want to be the greatest man my bloodline has seen . I worked realy hard to get the job, but I don’t feel like I should be here.

10mo ago
FluffyPretzel
FluffyPretzel
Stealth10mo

It’s a brutal space mate. Wafer thin margins, high capex & opex costs.
And it’s got the likes of Amazon already expanding.
Save yourself from this pain.

TwirlyBanana
TwirlyBanana
Chubb10mo

Can you give some information on what Amazon expansion you are talking about ?

I know about the capex and opex costs and this business I am seeing as a learning investment for me, I do not aim to go very big on this(if it happens then well and good). My aim to be clear is to gain experience and develop my skills.
I have never done a business before or even thought about it.

FluffyPretzel
FluffyPretzel
Stealth10mo

Amazon already has vending machines. A few hundreds were tested at Amazon offices in 2019 where you could pay with Amazon pay n shop (I’m ex Amazon & have used them). It helps them integrate their tech, payments & grocery products. There are multiple vending machine companies already… all big offices, airports got them.
I’m only trying to save your heart burn. Don’t waste your money unless your idea of the vending machine is radically different from what exists today. If you’re gonna offer the same customer experience as the ones available today, don’t even think of entering this space.

QuirkyPenguin
QuirkyPenguin
Stealth10mo

I m starting a new startup, intrested?

ZippyMochi
ZippyMochi
Deloitte9mo

I am though, let's chat in the DM.

SparklyBiscuit
SparklyBiscuit
Stealth10mo

Bro DM..lets discuss abt this together

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