Great work ! I suggest you drop by the senior home facility during the day (if possible) and ask around to the elderly what kind of snacks they like. Stocking the machine around their tastes will boost the sales. Hoping for the best for your business.
I'm late but one of the vending companies my job used put a piece of paper for us to let them know what snacks we like .. I liked that but they fired them because the machine was always broken
Good video but some things that you’re missing that I’d be curious to know: 1. How much it costs to buy a machine (apparently $1.5k - $5k per machine) 2. How much gas you spend restocking (probably at least a couple of gallons of gas going to and from machines) 3. How much it costs to restock (I’m guessing you’re buying in bulk so this may not be super insane, but it’s a non-zero cost none the less) 4. How much you lose on card reader payments for the processing fee (probably around 2%) 5. Tax considerations 6. Accounting for losses and damages to the machines along with maintenance (e.g. if you insure the machines) 7. How much time you spend managing the business (you called this passive income, but managing a vending machine business is not passive-you spend time in transit, time buying products, time spend researching snacks to put on sale, time spent servicing and repairing machines, time spent running the money). When you think about your cost, you also have to factor in your cost of labor at least at minimum wage to estimate your loss in income due to labor. Overall, I suspect your cost on that income is probably around like 30-40%, so you make closer to like $500-$600 on that money. However, since you bought the machines you probably aren’t profitable for the first 6-24months since you’re paying back your initial investment. If I assume you bought your machines for $2k average, and your net income is about $500, it will take you a year to get profitable-worst case up to 2.5 years.
i was thinking the same thing.. after all the operating expenses, it might not be worth the hustle especially if you have a full time job and making this a side hustle.
@@gohomeyo exactly. So my mom and dad used to own like 3 vending machines and after a few years they just sold the machines and got out of the business because it was a lot of work for not a lot of money. And they didn’t even have massive repair costs that I’m aware of. It takes a specific kind of person to do this and most people don’t fit that bill, because it’s slow, honest money. Also, this doesn’t account for the cost and effort to keep your machines occupied and efficient-e.g., you need contracts to get your machines in high demand areas that are safe from looting and over the long term, this means you’ll also be paying to move your machines and at times they won’t even all be in service.
@@NG_Videosss another reason why I think a more detailed analysis is important is because putting your money into an index can net you 6-12% annually and the only effort spent is in moving money from one account to another, which can even be setup to run automatically. You can also setup dividend reinvestment so that it results in 0 immediate tax impact-I.e., truly passive. Or get a REIT which can likewise get you 4-14% interest on your money… monthly. And if someone has to choose between that and a highly leveraged business like this, they should consider all the facts. The other positive benefit of all these options is you can do it while also building up a large nest egg savings, essentially giving yourself a mid or long term income while building up money that can be used to make a large purchase down the road. Following this, I’ve been able to add over $2k/mo to my salary without any ongoing effort. TLDR; people shouldn’t view physical businesses as passive income, because we have to consider what we’re comparing it to.
Guess this is the one comment he didn't try to respond to lol . Guess he ran his numbers based on this and said... damn.... I guess I'm really not making what I thought yet lol
Id simply say just go make contact with whatever business location and speak to them directly..this cannot be a big deal in getting that portion of your vending business @@janz3794
@@robertruiz5077 i got them from a local machine distributor in my area in California. One location I brought from someone and it had the machines in it already
I used to buy food and drinks from vending machines at work and it amazes me how they never stock items that sell! Everyday at work i was buying the pineapple Jarritos. after i bought the last one they stocked it with some other generic- it has just sat there for month. I now go to the 711 before work to buy my drinks. Just keep in mind when you buy a vending machine that you are buying yourself a job. It's not where you just stock up a machine and hope nobody will buy anything to where you need to come back and stock it. I would also buy the Cokes when that was stocked and they would never add Coke when that sold out.
You're a serial entrepreneur. Keep up the great work. Very inspirational. I just came across your channels a week ago with the fried rice song and skits. You could definitely do well creating skits and ads on tik tok and shorts for companies. I think that's a niche for you and you already have a great brand to leverage.
I was hoping that out of the money you got from the machine, that you would break down the costs of the product to actually see net profit how much you made. Great job for your first month, very inspiring and hoping to see more growth for you as well!
Good video man, im always looking for new businesses, this is pretty interesting considering i am already into sports venues that drive large traffic. Great stuff, thanks for sharing!
I'm looking to start a vending business in April of this year. I'm still trying to find vending machine suppliers and a name for the LLC. I'm hoping to secure some high traffic locations. I appreciate you sharing your experience.
The name should just be something unique to you, it’ll come trust me. And as far as finding distributors, search thru google hard for suppliers in your area. If there aren’t any at all, research hard on the best rates of someone who will ship out to you. Make sure it’s not a piece of junk too really vet the machine and the company
Collecting the money is the easy part... How much were the machines? What did it cost to stock them? How did you find a place to put them and how much do you have to pay them?
Subbed! I’m having to medically retire from firefighting because of lymphoma. An idea like this is fantastic for additional income sources. Great video, man!
Great video my bro! Thanks for showing us how the machines work, really different than just talking so keep that aspect up. I’m going to be setting up here soon where I live with a few vending machines can’t wait to get started. Couple of questions, are you running as an LLC or any other business type? Also, I know location is key before buying. Do you have a video or can create a video about how to find a good location and how to present your vending machine business? Thanks bro keep up the great work
The problem isn't the vending. The problem is the vendor contracts you'll have to sign to keep them stocked. Doesn't matter if you sell or not, the old product is being thrown away, and new product will be stocked at your expense.
Would love more info on your costs (as some other comments have also mentioned). Obviously you have to pay for the machines, the goods you sell, your time, gas, maintenance etc. Could you give a ball park number on what percent of your gross that ends up as profit? Would also love to know how you convince places to accept your vending machines. Do they expect a cut? Or are they happy that the machines will add in some other way to their businesses? Last question: What insight have you gained into the products your sell? Do you find certain items sell better in this or that environment? Do you do research to determine what you sell and where? Cheers.
A sugestion for you is to change the snack machine from the last location with a half snack machine and half drink manchine will make more money for sure 😊😊
I worked for a vending company for a few years. You can get your bill changer to take $10 and $20 dollar bills, and you can get your coin mechanism to dispense $1 coins like the one you found. We used to get a lot of $5 $10 & $20 bills that way. Just a thought for you….good luck!
Did you buy this route from someone or did you land the locations on your own ? I want to start a vending machine business im just worried I’ll have trouble landing locations
Got one of these from someone selling on Facebook market, the other from a locator service on a vending app. Yea finding locations can be tough and it’s cheaper when you find them yourself, it just takes a little groundwork
Another great vid. Question, how do you pay taxes, quarterly or yearly or do you pay a percentage of what you made for the year? Did you get a resale license or certificate?
Good morning fam! Looking into this business as well. So you work full time or dedicate full time to the machine business. Trying to see what I’m looking at as far as time to be successful
I was wondering where you get your snacks and sodas? Do you buy them at the store like Walmart, or is there a discount wholesaler that you can go to? Thanks 🙂
Does the card reader, during every purchase, go straight to your checking? Or do you have to have some other account for that, and withdraw later? Sry, i dont really know alot bout it..
Would be interested to see bow much it cost to stock and the cost of the machines. But more importantly the deals you had to make with the facility. Do they get a cut since you are using the electricity?
If you know are a place where you want to put your vending machine how do you go about renting out the space or does it just depend on the person that you’re renting it from?
How do you find places to put machine at? Do you need permission from property owner or how does that work? Also how much did it cost you to stock the vending machines? Would that be a minus from your total?
Wouldn't surprise me if some places ask for a cut, in exchange for using their spot. Also, yes a big portion of this money will be going to restocking the machines, so maybe half of this money is take home
Can we also talk about your expenses? How much does it cost to restock, how much you have to pay the facility to keep your machine there, other business expenses, etc.
Hey fam! New subscriber - just found this video after a year..luv ur content. My question: How did u go about gettin ur 1st vending machine? Just looking for some advice 💯
Ask any and all questions in the comments I'll do my best to answer. Hope you guys enjoy it ✊🏾✊🏾💯
Hello, good video. What's your best location?
@@therarestdiamond4792 the U-Haul location is easily my best so far
Appreciate the value you’re adding, which vending machine locator service did you go with?
@@tristanstarks8827 Same question
How much will be good to start off for a vending machine business
Great work ! I suggest you drop by the senior home facility during the day (if possible) and ask around to the elderly what kind of snacks they like. Stocking the machine around their tastes will boost the sales. Hoping for the best for your business.
What’s crazy is I did that haha everything in the machine was a La carte based on them telling me what they wanted via forms.
easy, sugar and more sugar...
@@LewSidRapsyes, some senior citizen homes let the elderly pick what color they want the staff’s (nurses and aides) uniforms to be.
I'm late but one of the vending companies my job used put a piece of paper for us to let them know what snacks we like .. I liked that but they fired them because the machine was always broken
I'm a semi truck driver and my wife wants to start another business. This looks totally doable. Thanks for the video.
Same here🎉
same
Same 😂
Same 😂
Did you ever start it? If so how's it going?
Good video but some things that you’re missing that I’d be curious to know:
1. How much it costs to buy a machine (apparently $1.5k - $5k per machine)
2. How much gas you spend restocking (probably at least a couple of gallons of gas going to and from machines)
3. How much it costs to restock (I’m guessing you’re buying in bulk so this may not be super insane, but it’s a non-zero cost none the less)
4. How much you lose on card reader payments for the processing fee (probably around 2%)
5. Tax considerations
6. Accounting for losses and damages to the machines along with maintenance (e.g. if you insure the machines)
7. How much time you spend managing the business (you called this passive income, but managing a vending machine business is not passive-you spend time in transit, time buying products, time spend researching snacks to put on sale, time spent servicing and repairing machines, time spent running the money). When you think about your cost, you also have to factor in your cost of labor at least at minimum wage to estimate your loss in income due to labor.
Overall, I suspect your cost on that income is probably around like 30-40%, so you make closer to like $500-$600 on that money. However, since you bought the machines you probably aren’t profitable for the first 6-24months since you’re paying back your initial investment. If I assume you bought your machines for $2k average, and your net income is about $500, it will take you a year to get profitable-worst case up to 2.5 years.
i was thinking the same thing.. after all the operating expenses, it might not be worth the hustle especially if you have a full time job and making this a side hustle.
I am thinking the same thing. 😢
@@gohomeyo exactly. So my mom and dad used to own like 3 vending machines and after a few years they just sold the machines and got out of the business because it was a lot of work for not a lot of money. And they didn’t even have massive repair costs that I’m aware of.
It takes a specific kind of person to do this and most people don’t fit that bill, because it’s slow, honest money.
Also, this doesn’t account for the cost and effort to keep your machines occupied and efficient-e.g., you need contracts to get your machines in high demand areas that are safe from looting and over the long term, this means you’ll also be paying to move your machines and at times they won’t even all be in service.
@@NG_Videosss another reason why I think a more detailed analysis is important is because putting your money into an index can net you 6-12% annually and the only effort spent is in moving money from one account to another, which can even be setup to run automatically. You can also setup dividend reinvestment so that it results in 0 immediate tax impact-I.e., truly passive. Or get a REIT which can likewise get you 4-14% interest on your money… monthly.
And if someone has to choose between that and a highly leveraged business like this, they should consider all the facts.
The other positive benefit of all these options is you can do it while also building up a large nest egg savings, essentially giving yourself a mid or long term income while building up money that can be used to make a large purchase down the road.
Following this, I’ve been able to add over $2k/mo to my salary without any ongoing effort.
TLDR; people shouldn’t view physical businesses as passive income, because we have to consider what we’re comparing it to.
Guess this is the one comment he didn't try to respond to lol . Guess he ran his numbers based on this and said... damn.... I guess I'm really not making what I thought yet lol
Just got my LLC built through ZenBusiness. Looking at a few used machines. Got a few locations contracted. Can’t wait to see how it goes!!!
So how do I secure my locations? Who do I contact to get my machines in businesses? & do I write up contracts for these companies? 🤔
Like Sunshine said how do we secure the location?
Id simply say just go make contact with whatever business location and speak to them directly..this cannot be a big deal in getting that portion of your vending business @@janz3794
Congratulations
@@janz3794 probably just contact them. there videos on it im sure. these dudes aint bout to tell you nothin lol
I just brought a machine last night ❤ been talking about it for some time this is the IM GETTING IT DONE THIS YEAR while at work I’ll be making money
Congrats I hope it made good money
Hallelujah
@@YBK_Sauze it’s brining in bread buying another for wigs and lashes
Ayye that's what's up imma about to cop one as well!
So how do I secure my locations? Who do I contact to get my machines in businesses? & do I write up contracts for these companies? 🤔
This is genuine RUclips content. Nice work man. Keep it up
need more videos like this, im 16 and plan on getting a vending machine for my 17th in may and really appreciate all the knowledge yu putting out here
No question best of luck and here if you have any questions 💯✊🏾
I’m 15 tryna start by the time I turn 16 this summer
@@jatininti6153 you’ll kill it kid just study up before you start. And take your time with it learn with one location and grow from there✊🏾✊🏾
Keep going strong brother question where do you get your machines I’m looking forward to be doing this when I move to Georgia in a few months
@@robertruiz5077 i got them from a local machine distributor in my area in California. One location I brought from someone and it had the machines in it already
Congratulations on your baby son..Best of luck on ur business. Wonderful
I’m grateful for this series, it’s inspiring
Congratulations and thanks for sharing. I plan to start in the new year. Saving up so I can be debt free.
I’m starting this month and I’m praying for a first successful month/year 🙏🏾 congratulations 🎉
Thank you! And best of luck to you for sure 💯🎯
How did it go
Well.... ?
they so rich now they ain't got time to respond 😂
Much respect for your hustles music, machines i fucks with people who be working hard for theirs 💯💯
I used to buy food and drinks from vending machines at work and it amazes me how they never stock items that sell! Everyday at work i was buying the pineapple Jarritos. after i bought the last one they stocked it with some other generic- it has just sat there for month. I now go to the 711 before work to buy my drinks. Just keep in mind when you buy a vending machine that you are buying yourself a job. It's not where you just stock up a machine and hope nobody will buy anything to where you need to come back and stock it. I would also buy the Cokes when that was stocked and they would never add Coke when that sold out.
I just wanted to say that you have good taste, my brotha. Jarritos is #1
I wish you the best on your business.May God bless your efforts!
Out of that 800 how much of that is profit? Expense to fill machine & cost of machine in the business.
its probably going to take time before profits start to show. alot of upfront money to start most things.
@@thebest12700 it will take literal ages
4500 in machines plus a couple hundred in snacks. Itll be 8-12 months b4 he's taking pros home
You're a serial entrepreneur. Keep up the great work. Very inspirational.
I just came across your channels a week ago with the fried rice song and skits. You could definitely do well creating skits and ads on tik tok and shorts for companies. I think that's a niche for you and you already have a great brand to leverage.
Congratulations on becoming a father. A father who will prosper and provide. Keep trucking brother. 💪
This is a really great way to get in business and earn extra income. Keep sharing!!
I was hoping that out of the money you got from the machine, that you would break down the costs of the product to actually see net profit how much you made. Great job for your first month, very inspiring and hoping to see more growth for you as well!
Great idea, I’ll do that in my next video
@@LewSidRaps Great! Lookin forward to it
Yes I would like to know the profit as well. Thanks
I thought that aswell
Me too, profit after expenses!
Thanks for sharing. Congrats on your new baby.
Thank you!
Congratulations on your new baby
Thank you 🙌🏾
Your welcome
this was dope, helped me redirect my targeted location demographic 👌🏼 thanks for this very insightful information and video, keep it up !
No problem fam!
Very informative. Wishing you continued Success! So happy I subscribed.
Thanks for the love and the sub!
Solid video! It'd be cool if you did a video breaking down your net profit (gross minus expenses, COGS, etc.)
Stoked for your success. Thanks for the video it's inspiring.
I love this! Thanks for posting.
Good video man, im always looking for new businesses, this is pretty interesting considering i am already into sports venues that drive large traffic. Great stuff, thanks for sharing!
thanks for sharing and giving inspiration brother. Much love from Canada.
Thank you for taking the time to post this video.
God bless you for helping people learn this business. Prayers for all the people struggling
I'm looking to start a vending business in April of this year. I'm still trying to find vending machine suppliers and a name for the LLC. I'm hoping to secure some high traffic locations. I appreciate you sharing your experience.
The name should just be something unique to you, it’ll come trust me. And as far as finding distributors, search thru google hard for suppliers in your area. If there aren’t any at all, research hard on the best rates of someone who will ship out to you. Make sure it’s not a piece of junk too really vet the machine and the company
Isn’t the market saturated ?
this is my first time landing on your channel and this was a year ago so i'm excited to see your progress on your other videos...i subbed
Congradulati9ns on the birth of your son, God bless
Thanks, but what was the cost of the food and drinks? Just an idea for your regular profit?
i always enjoy seeing people make money in unique ways and how vendors work.
Collecting the money is the easy part... How much were the machines? What did it cost to stock them? How did you find a place to put them and how much do you have to pay them?
Congratulations on your new son(1 year ago). I have a 3 and 1 year old as well.
Congrats with your babyboy!
Appreciate it man!
Subbed! I’m having to medically retire from firefighting because of lymphoma. An idea like this is fantastic for additional income sources. Great video, man!
This is inspiring man. I flirted with doing this a few years ago
Can you please do an example video on how to present to business managers about adding vending machines?
Got you! I’ll do one soon ✊🏾
@@LewSidRaps Thank you so much brother! I really appreciate it.
Good stuff. Thanks you for your information.💪
Dude your videos giving me hope ima gonna try to start my own vending machine business
Good honest hustle! 💪🏿💯
I’ve been thinking about investing in these for years, I appreciate the video bro.
Keep rockin bro GL
Great video my bro! Thanks for showing us how the machines work, really different than just talking so keep that aspect up. I’m going to be setting up here soon where I live with a few vending machines can’t wait to get started.
Couple of questions, are you running as an LLC or any other business type? Also, I know location is key before buying. Do you have a video or can create a video about how to find a good location and how to present your vending machine business?
Thanks bro keep up the great work
LLC , and def got that one coming fam I had to get right but it’s on the way my word
glad it’s coming back to you.
Dope video💯🤙🏽you definitely got my sub💯
Appreciate it fam 💯✊🏾
Damn Lewsid I’m from the 757 you starting to b everywhere 😂
Bro❤ Word Man! A real artistic entrepreneur !
How much after expenses tho?
That's exactly what I was thinking. What did he net?
Well think about it stocking everything can't be more then $40 and he profited crazy, idk what fees he pays so idk about that
The problem isn't the vending. The problem is the vendor contracts you'll have to sign to keep them stocked. Doesn't matter if you sell or not, the old product is being thrown away, and new product will be stocked at your expense.
Would love more info on your costs (as some other comments have also mentioned). Obviously you have to pay for the machines, the goods you sell, your time, gas, maintenance etc. Could you give a ball park number on what percent of your gross that ends up as profit?
Would also love to know how you convince places to accept your vending machines. Do they expect a cut? Or are they happy that the machines will add in some other way to their businesses?
Last question: What insight have you gained into the products your sell? Do you find certain items sell better in this or that environment? Do you do research to determine what you sell and where?
Cheers.
im about to start my own to!
That's a nice collection 👌.
awsome video man thanks
i subbed
Congratulations on your new son brother ! Wish you and your family good health, wealth and success in life ! Allah Bless you ! 🙂
Congrats bruh
Congratulations on the baby boy
Great video. Lots of great information thank you.
No problem 🎯
Well done 👍🏿, young king 👑👏🏿👏🏿👏🏿
Great job!
Thanks so much for sharing!
A sugestion for you is to change the snack machine from the last location with a half snack machine and half drink manchine will make more money for sure 😊😊
Congratulations on your new born 😇
Thank you for this video series
No problem 🎯
You have any videos explaining how to do contracts with the locations you setup with and/or how you got started vending?
How much did the vending machines cost. How did you place the machines
Thanks for the knowledge
I love this kid..nice touch w the NIKE box😂😂 proud of him, smart smart kid
damn bro i didnt realize these were so lucrative. i might have to look into this
I worked for a vending company for a few years. You can get your bill changer to take $10 and $20 dollar bills, and you can get your coin mechanism to dispense $1 coins like the one you found. We used to get a lot of $5 $10 & $20 bills that way. Just a thought for you….good luck!
Good for you!
Hey bro love your skit/videos with the Asian people dancing to your rap song. Keep milking that cow😊❤
Did you buy this route from someone or did you land the locations on your own ? I want to start a vending machine business im just worried I’ll have trouble landing locations
Got one of these from someone selling on Facebook market, the other from a locator service on a vending app. Yea finding locations can be tough and it’s cheaper when you find them yourself, it just takes a little groundwork
How'd you go about finding a place to put the machines? You pay rent for them?
Left out how much to restock. Left out if you have to pay rent to to the haul or senior living. Left out the card processing fees.
can you put a card reader on ay machine? or does it have to be a specific type?
Awesome video!
Thank you!
How much do you pay for electricity and space rental ? Then taxes? What's the profits overtime?
awesome video
How much in general would you say is recommend to leave in the the machine for change?
So the coin mechanism has a fill level, I think if you fill those you should be good to go for a while. Especially if you have a card reader on it
Question. What company did you get involve with to do own the vending machines?
Another great vid. Question, how do you pay taxes, quarterly or yearly or do you pay a percentage of what you made for the year? Did you get a resale license or certificate?
Haven't ran into the taxes part yet so I'll try and be informative with that aas I do them. And I did get a resale license
Good morning fam! Looking into this business as well. So you work full time or dedicate full time to the machine business. Trying to see what I’m looking at as far as time to be successful
I was wondering where you get your snacks and sodas? Do you buy them at the store like Walmart, or is there a discount wholesaler that you can go to? Thanks 🙂
Does the card reader, during every purchase, go straight to your checking? Or do you have to have some other account for that, and withdraw later? Sry, i dont really know alot bout it..
Its linked to a business account
How do you find your locations? Very nice bro. I like the idea of trying this.
Would be interested to see bow much it cost to stock and the cost of the machines. But more importantly the deals you had to make with the facility. Do they get a cut since you are using the electricity?
If you know are a place where you want to put your vending machine how do you go about renting out the space or does it just depend on the person that you’re renting it from?
I'm here in Canada.
Where did you put your vending machines? Shopping mall?
Well played !!!
How do you find places to put machine at? Do you need permission from property owner or how does that work? Also how much did it cost you to stock the vending machines? Would that be a minus from your total?
Wouldn't surprise me if some places ask for a cut, in exchange for using their spot. Also, yes a big portion of this money will be going to restocking the machines, so maybe half of this money is take home
Can we also talk about your expenses?
How much does it cost to restock, how much you have to pay the facility to keep your machine there, other business expenses, etc.
What are some of your prices and where do you buy your stock?
Hey fam! New subscriber - just found this video after a year..luv ur content. My question: How did u go about gettin ur 1st vending machine? Just looking for some advice 💯
How much were the expenses? The total is not pure profit.
Do you have to pay a certain percent to the card reader?
It’s $10 a month, & Nayax takes a percentage of like 2.5% on card purchases