Are you considering your own vending machine business? Whether you’re looking to replace a full-time income, teach your kids about entrepreneurship or simply want to earn extra spending cash, it’s a great opportunity. Vending is profitable, flexible and provides an ease of entry that many other business opportunities can’t boast.
Plus, the vending industry has undergone a transformation to adapt to widespread, changing dietary preferences. No longer confined to fatty snacks and sugary drinks, modern vending machines offer a fresh and wholesome product mix that appeals to health-conscious consumers. Some machines are even designed to offer non-food, on-the-go essentials, such as over-the-counter medicines, hygiene products and personal protective equipment.
But those interested in the vending industry commonly have some questions regarding business license requirements. Here are helpful resources for some of the most common questions.
Do I Need a License to Operate a Vending Machine?
The answer isn’t as cut-and-dried as you might hope. But the fact is, every business needs some type of license to legally operate. Each state’s licensing requirements differ, sometimes significantly, depending on the type of business, where it’s located and what government rules apply. Every state has its own business entity regulations and requirements.
At the very least, a local business license, issued at the city or county level, will be required. Regardless of the state’s regulations in which you’re doing business, getting your first business license is an exciting day. You’re one step closer to living the American Dream! But now you may be asking where to go to get your business license.
Where do I go for a Business License?
Your local Small Business Development Center (SBDC) can be one of the best places to start. It can help connect you with U.S. Small Business Administration (SBA) district offices and point you in the right direction to get required state or local licenses. The SBA website can also connect you with mentors, help veterans get their businesses off the ground, provide information for funding your new business and more.
What Else do I Need to Start a Small Business?
Along with obtaining the required licenses, there are some other important considerations. Will you establish a limited liability company (LLC) to—among other benefits—protect personal assets? Do you need business insurance? Do you need to hire an accountant for your small business? Should you quit your current job to run the small business? While this may seem overwhelming, there are many helpful resources available to guide you in your journey.
Starting your own business is exciting, rewarding and fulfilling. Educating yourself and taking all the necessary business licensing and setup steps will help to ensure that your vending machine business hits the ground running.