1stTimeVend Posted October 17, 2022 Share Posted October 17, 2022 For the first year of vending I don't plan on having more then 8-10 snack and vending machines across a few hotels. Is it necessary for me to obtain insurance other than operating through my llc? If so what type of insurance is recommended. Thank all and any advice is appreciated Link to comment Share on other sites More sharing options...
Gizmo Vending Posted October 18, 2022 Share Posted October 18, 2022 Just a general business owners insurance and insurance coverage on vehicle. It’s up to you if you want to have insurance or not. It will help you sleep better at night though. What happens if a machine catches fire or shocks someone? What if a machine is being rocked and falls on someone? The attorneys will be circling like sharks in the water. Link to comment Share on other sites More sharing options...
AZVendor Posted October 18, 2022 Share Posted October 18, 2022 Yup, unless your are a full C-Corp all of your personal assets are at risk without insurance. Link to comment Share on other sites More sharing options...
1stTimeVend Posted October 21, 2022 Author Share Posted October 21, 2022 On 10/18/2022 at 11:04 AM, Gizmo Vending said: Just a general business owners insurance and insurance coverage on vehicle. It’s up to you if you want to have insurance or not. It will help you sleep better at night though. What happens if a machine catches fire or shocks someone? What if a machine is being rocked and falls on someone? The attorneys will be circling like sharks in the water. Thank you both for your responses. Information is very useful. Liability insurance seems to be the way to go then to start? Llc, general business license, and Liability insurance. Anything I'm missing or suggestions before I'm up and running. I have my first two locations and am excited tonget them out on site. Told them I need 30 days and looking to have everything prepared by then. I have the llc and business license. Link to comment Share on other sites More sharing options...
Gizmo Vending Posted October 21, 2022 Share Posted October 21, 2022 Sounds like you got everything covered. As a bonus, when talking and pitching to a potential customer I always email a copy of insurance, you’d be surprised on how many operators don’t have insurance but yet have 30 year old machines with cords frayed and smoke coming out the back and standing on 3 legs. Maybe not that bad but you get the idea. Invest in some hand tools and maybe an extra bill acceptor and coin mech, maybe not now but in the near future. Good luck with your endeavor. Link to comment Share on other sites More sharing options...
1stTimeVend Posted October 27, 2022 Author Share Posted October 27, 2022 On 10/20/2022 at 8:53 PM, Gizmo Vending said: Sounds like you got everything covered. As a bonus, when talking and pitching to a potential customer I always email a copy of insurance, you’d be surprised on how many operators don’t have insurance but yet have 30 year old machines with cords frayed and smoke coming out the back and standing on 3 legs. Maybe not that bad but you get the idea. Invest in some hand tools and maybe an extra bill acceptor and coin mech, maybe not now but in the near future. Good luck with your endeavor. I have a other question please. I am upgrading old machines either with mdm to utilize credit card purchases or vcm "inOne" I do not understand hiw to utilize or view dex data let alone know if my machine has dex data, I believe an updated vcm helps to provide this information. Bottom line is how can I view, retrieve, or keep track of purchases made through my machines ? I know there is some small detai I am missing. If I need to add some other hardware please advice or if there is some software I can get to obtain access to current machines it would be greatly appreciated. Thank you so much for your support as it is invaluable to me personally to know others are out there who care, and for the fundamental aspects. Kind regards. Link to comment Share on other sites More sharing options...
AZVendor Posted October 27, 2022 Share Posted October 27, 2022 Depends on the model of each machine. Any MDB-ready machine can take a card reader but unless the machine is relatively new (10 yrs or less) DEX is hit and miss. If the machine isn't now MDB then you need an aftermarket board such as InOne Technologies to give you card capability. Link to comment Share on other sites More sharing options...
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