A vending machine leasing companies can be a profitable venture with minimum input. Everything happens automatically from payment collection to order completion. Interested parties don’t even have to purchase a machine to get started. They can simple rent through vending machine leasing companies for lower initial cash outlay. The rental fees tend to be quite reasonable as well. Aside from negotiating these fees, you should also ask the following questions before signing a contract:
Who pays for repairs and maintenance?
This should be clear from the beginning because anything can happen after you sign the deal. All types of machines can suffer from wear and tear. They have their own quirks and design flaws that will only be apparent after you have used them for a while. If they fail, then what happens? Time is crucial since every minute is equivalent to a certain amount in earnings. A machine that often breaks down will also have a bad reputation and will not attract steady customers. A technician has to fix it, but who will pay for the service? The leasing company or the renter?
How old are the machines?
Ask about the age of the machines to gauge their likely condition and remaining lifespan. You should not be too much for something that is already on its last legs. In fact, you should avoid these as they will probably bring you more headaches than profits. On the other hand, even fairly new models can be problematic if not given enough attention. Request for records of repairs and maintenance, if available.
What happens if I miss payments?
You may intend to be a good business partner but life might have other plans. You could miss the deadline on your monthly payments due to a cash shortage, a job redundancy, a financial emergency, or something else. If this happens, then you should know how long you have to make up for it. Are there additional fees for the late payment? If you can’t pay for a string of months, will then cart off the machine?
Can I switch to a different model?
After using a certain model, you might discover things that will make you want to switch to something else. Maybe you want a bigger machine for more storage. Perhaps you want more features or order options. You could just be tired of a recurring issue. Will this be possible? Can you need to terminate the old contract and set up a new one or do you pick up where you left off?
