Most people believe in being self-reliant and teaching the importance of hard work to their children. However, not everyone can provide their kids with good opportunities to work. I get calls all the time from people who are looking to buy a candy machine to help their kid earn money or sometimes the kid has saved his or her own money to buy a candy machine. I am always happy to help families in these situations. Running a small vending business is not difficult and even a child can do it. Parents can’t wait for the government or community to teach their kids money management, or the principles of work. This is the responsibility of parents.
There are a number of good lessons that a kid can learn from running a vending business, including the following:
- How to Budget and manage money
- How to keep a sales log
- How to keep an income and expense report
- How to track inventory
- How to be organized
- How to plan and project future business opportunities
- How to show cleanliness
- Good customer relationship skills
- Marketing
Yes an adult will probably need to help out with transportation, overseeing the finances, or other aspects of the business, but the vending industry is a great opportunity for your kid to learn how to be an entrepreneur, business professional, and so much more. We can’t rely on our schools to teach our children to work and manage money. This is the parents role, and owning a candy, gumball, or snack vending machine is a great place to start.
