Vending Machine Entrepreneurs Utilizing Merchant Cash Advances
Merchant Cash Advance is mostly used by retail businesses that cannot get loans from regular banks. If you are an entrepreneur who is looking to start a vending machine business, then you may be interested to learn that a used vending machine may be the way to get a bargain unit for your new merchant cash advance. Anything new will come with a higher price tag, so many new businesses are selecting a used vending machine in order to keep expenses at a minimum.
The most important thing to remember about a used vending machine is that just because it has been previously owned by another company, it is not necessarily damaged or have any problems. It could simply mean that the previous owner switched to another type of vending machine, moved his/her business or simply found another line of work. A used vending machine will likely be inspected by the company reselling the merchant cash advance, which should provide the new owner with greater peace of mind.
A used vending machine can be used in the same way that a brand new unit would be operated. The only difference is that a used vending machine may not have all of the same features as a new model, but that would depend on when it was manufactured. Many current machines offer a dollar bill acceptor, which allows the customer to insert a dollar bill instead of having to deposit the exact change. This is also helpful to someone who doesn't have change on hand, but does have a dollar bill. The dollar bill acceptor is on many new vending machines, but may or may not be included in a merchant cash advance depending on it's manufacturing date.
If you have decided to purchase a used vending machine, be sure to inquire about a warranty or return policy. New items usually carry some type of guarantee, which is why it is important to find out if a used vending machine will have the same coverage. If a warranty is offered, it is a good idea to get the coverage in writing. Ask questions about what the coverage entails and the length of time for which the warranty will be by merchant cash advances.
When starting a new business, or attempting to manage an existing company on a budget, it is important to bargain shop as much as possible. By purchasing a used vending machine, you will be saving money while receiving the same equipment as larger companies. The only difference will be that your unit will have been previously owned, but that should not create a problem as long as the machine is free of defects or major cosmetic damage. A quick surf of the internet will reveal a number of used vending machine merchant cash advances.
Return to Merchant Cash Advance Blog Home Page.
Posted on: August 28, 2011 06:41 PM