First in a series of posts that examine this question. 

If you’ve been thinking of upgrading or replacing an older vending machine, you might be asking which choice is the best. The need for ‘higher tech’ machines is becoming the standard, especially because people expect cashless payment options more than ever before. So how do you decide to upgrade or replace?

The upfront costs for purchasing a new machine versus updating an older machine is the critical question, especially in today’s financial climate. A solid ROI for vending machines ranges from 24% to 36% annually plays into the equation. Though location can affect your profitability, so too can the appearance, performance and tech-readiness of your current machine. 

A few questions before you decide: 

• Does the vending machine look worn or abused? 
• Has your machine required regular maintenance or repair? 
• What is the age of the machine and the control board? 
• Have you updated to a cashless card reader? 

If you feel that the machine(s) is performing well, turning a profit and fits the aesthetics of the setting – then upgrading is your best practice. If your machine passes your test, then consider your customer. The industry has shifted to electronic and credit card forms of payment – it’s an expectation that your customer relies on daily. Adding card readers can be the difference between a sale or disappointment for your customer.

Upgrading to cashless, remote monitoring and a more robust control board will add value to your customer and increase your profits, while lowering machine maintenance and repair. 

Let us recommend the most cost-efficient way to stimulate your ROI on your vending machine fleet. We have decades of experience providing cashless and connectivity innovation for product launches and retrofits. 

There is only one company that provides total vending machine solutions. Just one.