He knows what his expenses are that’s why he knows 50% profit. Does he consider his time to buy the snacks and load the machine ?. Seems like break even to me .
@@takeontravel9076 we do Sam's Club pick up and delivery one of my employees picks it up for $5 and transports it to the laundromat so I don't do any of that work. Every month I spend probably $25 in terms of labor on having the machine stocked and cleaned. On average I'm doing about 1,500 per month in total vending Revenue half of that is Cogs, then $25, so I make $725/mo To go collect the money And shoot a RUclips video about it
" its not all profit " it is all profit your wrong. thats the only unit of mesuerment thats like saying a tree only grows leaves for fun. Just as a tree grows leaves to thrive, a business aims to make a profit to sustain itself and grow. Saying it's not all profit is like denying the fundamental purpose of a business.
You can put a card reader on any machine. Plus those fancy touch screens with fancy lighting don’t draw in any more customers. Just wasted money. Location, card reader, variety, and keeping it stocked is what matters.
Yes.. .that is an issue. The only thing i could suggest are spots like warehouses, NEW apartment buildings or offices, rec centers ect... otherwise, your idea for a spot has already been taken... but im not trying to make a living off of this, just some side cash every month.
@@cherylao2071 They were old machines, the money has to be put in the crank mechanism, there was a crank for every product. People would put in nicles instead of quarters, or pennies instead of dimes, which would cause the crank to jam. And then worse if the crank was jammed they would turn it forcefully and break the crank. Each new crank mechanism would cost $35. After I got a full-time job there was no one to take over the route. So I sold it for WAY too much less than what I had paid for it, so I definitely lost money.
@@greatnew_products7436 Wow, that sucks. I’m seeing that there’s so much you don’t think of. I’m considering jumping in, so I really appreciate your feedback. I remember the crank style vending. With you having 5 machines it seems you were pretty serious. But with you ultimately going back to a 9-5, it makes me wonder about the success of this type of business. Do you think if you had newer machines it would have made a difference? What that line in the sand? Your location a concern? How long were you in the game? Thanks, @greatnew_products7436
But if the machine is where you have a craving and it's easier to get it right now, the store a few miles away is not a factor. That is unless you cart around a cooler full of sodas and ice everywhere you go.
@@tbaski tf it’s not there’s plenty of broken down machines listed on there as “lightly used” or “moving away and no one to take care of it” yeah right. They’re hoping the buyer is new to vending machines and know nothing about them. People don’t throw away passive income unless it’s not making income.
@@SethKolbePrefectyea that’s why you make sure it works before you buy it. Plug it in. Make sure the condenser is working on the drink machine to keep it cold
Take some of the 90 off for tax and overhead. Probably left with 60 in net profit. Which is 15 per day, comes to roughly 5400 a year. Not a bad investment. Easy to own like 10 machines and get a nice payday.
@ajg8012 you're "supposed to" report side hustle money if it's greater than $400. If it's his sole income as long as it's less than $12,255 per year he doesn't have to.
@@aj27turquoiseskiesthere are loopholes to tax codes. If the machine only takes cash, the money is untraceable, and doesn't exist. The second that money touches some sort of electronic account it becomes taxable. So if you do this and use the cash to buy groceries, the government has no idea the money exists or what it's being used for. But say you save up enough to buy a car or something, they're gonna wonder where the money came from. The key word is traceable. If the money has no possibility of ever being traced, forget taxes. If you actually use it as a buisness or you accept cards, you better pay your taxes.
I just want 1-3 machines (at most) for some extra side hustle money for my hobbies lol, I have a costo executive and a sams club membership so resupplying shouldn’t b hard at all 😁,
@@FrelsNDAY it depends really, but your best bet is to do some research, in your area, does a vending machine attract more customers? How often do those machines get robbed in your area, how much do they cost in electricity per month, stuff like that, and it depends on what kind of vending machine you get, a good way to go about it, is try to get permission to put one at a laundry mat, and tell the owners that you’ll service it, pay for the drinks, everything, and try to get it put there for free on the grounds of: “if I’m here selling drinks, and dealing with it, then that’s one less thing you have to sell / stock up on” or something like that, the same logic can be applied for snack machines, basically just tell them that they’ll be saving money by not having to worry about snack (or drink, depending on which machine it is) sales, and that you’ll handle it all, in exchange for the right to set up shop there, and not having to pay for electricity, or maybe y’all can work something out for that, like maybe you can offer 10 cents per item sold? Or idk, something, that’s just one idea, don’t try it at restaurants by the way, just places where people are gonna be waiting for a long time, like laundry mats, mechanic shops, car dealerships (be carful with those guys, they can be pretty sleezy), places with waiting areas basically, but beforehand, do research, and look around your neighborhood
@@FrelsNDAY Vending machines are a really bad business to get into. If you want to start your first business then I always suggest starting an interior home painting business. It's a low start up capital and high profit margins business. You can make $2k-$4k per week in profit and you can do it without employees.
I had 8 vending machines in the 90s, the smaller ones not these large ones. Typically a few of mine did really well (always empty, had to check often), several that were ok and several underperformed (which I ended up removing, one had chocolate always melting so it was meaningless to keep it there). Mine were all in smaller businesses, like auto mechanic shops etc. It never cost me anything to put the machines in those locations, as it was a benefit to the workers and anywhere customers were sitting and waiting so they were happy to have them there (although I always gave the desk a handful of change when I emptied them, told them it can go to their office coffee :-)
From my research, vending machines profits differ depending on the type of machine, like a Soda Machine may bring in more money than a snack machine. But vending usually does about $450 a month on average.
A vending buisiness can be very profitable if you get the right locations, reliable equipment, and buy your drinks, candy, and snacks at the best prices you can find. I recommend you get a state tax I.D. number so you can have access to the wholesale distributors that sell candy, snacks, and drinks, should they have lower prices on select items that sell good at your vending location. Sam's Club and Costco may not necessarily have the best prices on a specific item, like M&M's or Fritos. These places would definately be a good start. As of today, a 16.9 ounce bottle of Dr. Pepper costs 70 cents wholesale, but can be sold in a vending machine for $2.25 at your vending location. Lots of money to be made if managed right.
The time it takes to source and store the food, around 2 hours. The time it takes to load the machine, 1 hour. U didn't include rent cost or gas money which varies. Profit about $10 an hour I'd say
And if you would watch my other videos you would see that I have my cleaning staff pick up all of the snacks and load the machines for me it cost me about 25 bucks a month to have that done
I couldn’t get anyone to agree to let me place my soda machine anywhere! I sent out dozens of letters and no one would let me place it, not even the mall. Now my soda machine is a rusted hulk rotting in my backyard !
I’m sorry to hear about that. I recently purchased a vending machine and I notice others are having similar problems of finding placement for it. It never occurred to me that I would come across this issue. So I’m hoping I didnt make a bad investment 😔
But how are you putting the vending machine somewhere? Are you renting the land/electricity from some shop owner? You can’t just set up a vending machine somewhere random & walk away
To be honest he probably fishes around until he sees location where the owners willing to just let it chill. It does not happen often and can be really tough to do but this guy has so many gosh-darn vending machines he might have connections to local stores
I just watched a video where the guy uses some of the profit to donate to a charity and tells that to the location owner and tries to get the location for free. The donation is cheaper than paying the location owner rent.
He owns the place he puts his 2 machines in, no goof buissness would allow junk machines like these to be placed. 2.5k minimal budget for a propper machine and order a new scanner, he makes 20$ profit a month but makes these videos to make people who dont understand buissness belive hes some kind of guru with junk machines...hes not 😅 its all to sell his course, where he claims that he knows how to make 70k with vending A MONTH. I probably spent 10k researching how to make a profitable company with vending machines and i can say 110% sure you need 250-280 machines to make 70k. So hes full of sh*t. But my goal is to gett 20-30 ~fresh new machines making 8-10k a month in profit quality locations that being said all of that wont be income to me personaly (4k/month). Anything more then 30 and i feel like i need to hire people. Adjust expectations, follow rules laws for your country. Health, food regulations etc, my country limits me as a owner to earn more then 4k by increasing taxes..etc. Basically dumb down version how the money comming out after sales; 50% money goes to new products to fill, 25% taxes, repair fees, buisness expenses, fuel etc 25% my income.
Its very costly and expensive to do it right and you see you can buy a chip for 50 cents and sell it for 1 but when rent starts at 700 and creeps up and people dont like old machines you need the 6,000 dollar machine or whatever now it starts getting very very difficult. You have this 6000 dollars wrapped up in a machine every day it loses a fraction of its value right away and you have to claw tohr away out of it spending money on food and stocking to make it back. Traveling around collecting money the irs eyeballing you harder because youre a mainly cash business. Thats why hes filming himself counting the money its like youre also a robbery target
anyone can buy one, but placing them somewhere is a key. Not every place wants one and you have to convince them to put it there, the owner may want a portion also from profit.
@@shindeirunaniusually they do want a portion, a hefty portion at that which kind of defeats the whole purpose since the food costs you money already. It’s best to get a hold of quite a few places and weigh your options and pick the best deal.
You have to run it as a business. So like my state there is no such thing as a business license but registering your business has like a 5 or 25 dollar processing fee or whatever so what happens is you fill out the form online and in the mail you get an offical letter saying your business is registered with the revenue offices and they give you an identification number and this number is useful because certain companies can give you a better deal on more bulk amounts of prodict if you have the number proving youre intention is business purposes. Then you can buy the machine and at tax time its a business expense they might recognize the expense and offset it against your income to reduce your taxable liability. It also makes it so you have this identification number if you for example have a local payroll and law office or whatever if they csn handle your employee aspect that is numbers they will need when you go and they cut payroll checks for you to give to your employees if you arent doing it yourself. A lot of businesses can handle that stuff these days. You register your business like a vending name maybe as a corporation so you can have a set tax rate idk. You know the deal. You dont wamt to set up just 1 you want several in good spots and you want to get the money legally by reporting it and having it set up right so you can easily have your employee working in your place and stuff like that. Its very hard to do just 1 machine as you pay for accounting and tax time so as a business where you have several machines strategically you have enough where you run through product amd it makes sense to buy months worth of cheetos if you want or if youre a rignt on time low inventory style. To me inventory is a key thing you camtnhage too little or too much. You wsmt enough you can keep selling and banking if some have a shortage but if you have too much that isnt selling you have waste and in these businesses of rolving inventory woeth pennies you are punching pennies on you want low waste. You habe to think about how it costs a lot if you want a new machine that accepts the debit and credit amd cash and coins with the fancy sensors etc it costs you tens of thousands for a handful of machines unless you go with old ones. So those things in ten years will depriciate to half their value so in ten years you put 20 in get 10 out. So you have to sell 2000 product a year as well for 1 each you profit 50 cents off each just to overcome the machine depriciation. Unless you get an old 800 dollar machine. So you have to sell 2000 items to make 1000 bucks just to keep the door open and lights on every month. Plus another 167 items per month just to make in profit what you kost in machine depriciation. Which is a write off too btw. Thats why you wany to tun it as a business. You can see its a battle. Do you want 1 good machine for 6000 or 5 for 4750 and you got 1250 for supplies but no one can use credit its a cash only machine. If you have 25000 to invest youll have 5 for paying rent and supplies for a short while and 20 to buy 2 machines for 5k and another 5 for 80p each you cam have 6 machines if each makes 100 a week you can at least be in the green even if its little. Plus its competitive and commecialized. Everyone like cheetos lays doritos soda and water etc so a lot of machines have more variety than ever but they are all similar. So location plays a lot its more. If two similar machines mostly have the same product the one selling more is probably in a better spot. Its a tough business as you likely about need a sedan at minimum to haul the goods around. So thats 100 a month in insurance on a cheap old used accord. and you got gasoline. They want you to track miles if you want to i guess yoh dlnt have to but business miles reduce tax burden which increases profit margin and when youre selling 50 cent chip for 1 buck and they dont pay up as often when itd 1.25 them every penny you earn inbetween that 50 cents cost and buck sale price you want to keep and some you wont most of it is sucked up just keeping the rent paid tbr toilet flowing the light on as well as fighting machine depriciation
An old machine like that I’m surprised you can’t even get it to work at all. It’s got to be an energy hog and question is can you even get parts… The things you find for that kind of money usually are not worth hauling home just for the above reasons I mentioned, if you ever need to upgrade it to take credit cards, especially when it becomes a cashless society you can’t do it unless you drive by and check this machine physically to know what you’re out of stock on you’re buying extra supplies that’s not necessary and you never know if it’s got a problem till you drive-by or somebody called you Also not good. It’s gonna take you to drive by every day to look at this machine isn’t a good enough reason to buy something for $800. You need to be able to look at the vending machine remotely to know if there’s any troubles with the machine your total sales are what selling what isn’t Etc. I do, however think you’ve got it in a mediocre location for that kind of intake. It’s not a bad location, but it’s not a great one either.
Man, why does no one seem to understand that getting a prime spot with even decent foot traffic and or younger people is NOT easy. And that’s before you scope out competition already in place. Just saying
So there's roughly seven 4 day periods in a month. So 7 x 90 = 630 dollars a month. Pays itself back in 2 months? That's a solid investment. Are you sharing any profit with the business?
0% don’t waste your time on the greedy owners. You bring them more customers with the machine and feed their staff. I pass up immediately when they try to take a cut. Simply say “I’ll get back to you on that offer” and never go back lmao.
60 cents for a candy bar? Brother what are you smoking. Sam’s club sells that sh*t for 90 cents plus and it continues to go up. You must be living in the past
But how much is the profit (because you have to refill a lot of times) and also how do you get them into the public? You must have to pay rent or give a percent to the business you have your machine on
Its different for every one bro. He paid 800 for the amchine but he also sticks like the absolute cheapest junk he can get in it as its an 800 dollar machine. Here he says in 4 days he made 90 and about 40 is profit so i mean where i am thats about 13 gallons in gas. That fill up a prius man
U can also just ask if u can put it there as another business and some places will sometimes let u just have it there i think not 100% sure but thats what i have heard
How would I go about finding good locations to put vending machines when all of the good locations seem to already be saturated with vending machines that are owned by big companies like Coca-Cola and Pepsi?
How do you program the vending machine to accept a certain sum of money for say number 56 “a twix bar” with inflation im guessing with the old vending machines the prices aren’t what they were years back
I’m curious do you still make a lot of money in terms of actual quarters and dollar bills when you dumped out the coin dispense I was surprised I thought most people didn’t carry change anymore
I think it matters where you place your vending machine. It’s not all profit
He knows what his expenses are that’s why he knows 50% profit. Does he consider his time to buy the snacks and load the machine ?. Seems like break even to me .
@@takeontravel9076 we do Sam's Club pick up and delivery one of my employees picks it up for $5 and transports it to the laundromat so I don't do any of that work. Every month I spend probably $25 in terms of labor on having the machine stocked and cleaned. On average I'm doing about 1,500 per month in total vending Revenue half of that is Cogs, then $25, so I make $725/mo To go collect the money And shoot a RUclips video about it
" its not all profit " it is all profit your wrong. thats the only unit of mesuerment thats like saying a tree only grows leaves for fun. Just as a tree grows leaves to thrive, a business aims to make a profit to sustain itself and grow. Saying it's not all profit is like denying the fundamental purpose of a business.
If you can lol.
@@InvestmentJoy Hi im late here is this like only for one machine is that correct?? $750 profit? for one!? is good if u tell me
You'd make a lot more if you had a more modern machine that took cards.
You can put a card reader on any machine.
You can put a card reader on any machine. Plus those fancy touch screens with fancy lighting don’t draw in any more customers. Just wasted money. Location, card reader, variety, and keeping it stocked is what matters.
Yeah but you have to manage an account for that.
Cash is king cause you won’t be taxed as much. Plus you have to pay card fees
In the end you will be lucky to find someone to let you put one at their business, most likely it's been done
From what I've heard you have to get your locations before you buy the machines.
@@diypictures no reason you couldn't keep it in your garage
@virtualmartini "Laughs in LA/NYC metro area" lol. Nah but yea if you have one that's definitely the best storage option.
Yes.. .that is an issue. The only thing i could suggest are spots like warehouses, NEW apartment buildings or offices, rec centers ect... otherwise, your idea for a spot has already been taken... but im not trying to make a living off of this, just some side cash every month.
I used to have a vending machine route. I had about 5 machines. It was ok I guess. They were proud and cons. Finally sold it.
Why did you sell it?
@@cherylao2071 They were old machines, the money has to be put in the crank mechanism, there was a crank for every product. People would put in nicles instead of quarters, or pennies instead of dimes, which would cause the crank to jam. And then worse if the crank was jammed they would turn it forcefully and break the crank. Each new crank mechanism would cost $35.
After I got a full-time job there was no one to take over the route. So I sold it for WAY too much less than what I had paid for it, so I definitely lost money.
@@greatnew_products7436 Wow, that sucks. I’m seeing that there’s so much you don’t think of. I’m considering jumping in, so I really appreciate your feedback. I remember the crank style vending. With you having 5 machines it seems you were pretty serious. But with you ultimately going back to a 9-5, it makes me wonder about the success of this type of business. Do you think if you had newer machines it would have made a difference? What that line in the sand? Your location a concern? How long were you in the game? Thanks, @greatnew_products7436
@@cherylao2071 I got a full time job. No one could take care of it.
@greatnew_products7436 I really don't blame u though if you are losing money get rid of it
Soda's much cheaper at grocery stores if you buy when it's on sale than at Sam's Club
But if the machine is where you have a craving and it's easier to get it right now, the store a few miles away is not a factor. That is unless you cart around a cooler full of sodas and ice everywhere you go.
@@MechBoy3025He meant to restock his vending machine.. that it’s less expensive to purchase sodas from the grocery stores rather than at Sam’s Club
Lol Facebook marketplace is full of scams 💀 you got lucky
No it’s not 😂😂
@@tbaski tf it’s not there’s plenty of broken down machines listed on there as “lightly used” or “moving away and no one to take care of it” yeah right. They’re hoping the buyer is new to vending machines and know nothing about them. People don’t throw away passive income unless it’s not making income.
@@SethKolbePrefectyea that’s why you make sure it works before you buy it. Plug it in. Make sure the condenser is working on the drink machine to keep it cold
@@EastAfricanSniperthey could tweak it so it works temporarily for testing, and then fail completely after a while
@@SethKolbePrefector they donr have the time to continue to stock it but you're right
In school after lunch when everyone was in the cafeteria eating. We would flip the thing on the side. Everyone would grab free for all..Damn kids
Take some of the 90 off for tax and overhead. Probably left with 60 in net profit. Which is 15 per day, comes to roughly 5400 a year. Not a bad investment. Easy to own like 10 machines and get a nice payday.
Tax on cash? Lol only if he’s making 25k a year off of this
@ajg8012 you're "supposed to" report side hustle money if it's greater than $400. If it's his sole income as long as it's less than $12,255 per year he doesn't have to.
@@leroyjenkins1and he has several diversified businesses so i bet hes reportong all of it
And that is without a card machine. He would have made more if the machine takes card. But definitely agree. His investment is paid off in two months.
@@aj27turquoiseskiesthere are loopholes to tax codes. If the machine only takes cash, the money is untraceable, and doesn't exist. The second that money touches some sort of electronic account it becomes taxable. So if you do this and use the cash to buy groceries, the government has no idea the money exists or what it's being used for. But say you save up enough to buy a car or something, they're gonna wonder where the money came from.
The key word is traceable. If the money has no possibility of ever being traced, forget taxes. If you actually use it as a buisness or you accept cards, you better pay your taxes.
I just want 1-3 machines (at most) for some extra side hustle money for my hobbies lol, I have a costo executive and a sams club membership so resupplying shouldn’t b hard at all 😁,
Do you know how you even find a place/ get permission to put them?! I’m 20years and I been trying to do this!!
@@FrelsNDAY it depends really, but your best bet is to do some research, in your area, does a vending machine attract more customers? How often do those machines get robbed in your area, how much do they cost in electricity per month, stuff like that, and it depends on what kind of vending machine you get, a good way to go about it, is try to get permission to put one at a laundry mat, and tell the owners that you’ll service it, pay for the drinks, everything, and try to get it put there for free on the grounds of: “if I’m here selling drinks, and dealing with it, then that’s one less thing you have to sell / stock up on” or something like that, the same logic can be applied for snack machines, basically just tell them that they’ll be saving money by not having to worry about snack (or drink, depending on which machine it is) sales, and that you’ll handle it all, in exchange for the right to set up shop there, and not having to pay for electricity, or maybe y’all can work something out for that, like maybe you can offer 10 cents per item sold? Or idk, something, that’s just one idea, don’t try it at restaurants by the way, just places where people are gonna be waiting for a long time, like laundry mats, mechanic shops, car dealerships (be carful with those guys, they can be pretty sleezy), places with waiting areas basically, but beforehand, do research, and look around your neighborhood
@@FrelsNDAYJust scout out places you think will be worth putting in and ask who owns the building. The worst they can say is no
@@FrelsNDAY Vending machines are a really bad business to get into. If you want to start your first business then I always suggest starting an interior home painting business. It's a low start up capital and high profit margins business. You can make $2k-$4k per week in profit and you can do it without employees.
I had 8 vending machines in the 90s, the smaller ones not these large ones. Typically a few of mine did really well (always empty, had to check often), several that were ok and several underperformed (which I ended up removing, one had chocolate always melting so it was meaningless to keep it there). Mine were all in smaller businesses, like auto mechanic shops etc. It never cost me anything to put the machines in those locations, as it was a benefit to the workers and anywhere customers were sitting and waiting so they were happy to have them there (although I always gave the desk a handful of change when I emptied them, told them it can go to their office coffee :-)
From my research, vending machines profits differ depending on the type of machine, like a Soda Machine may bring in more money than a snack machine. But vending usually does about $450 a month on average.
Finding profitable locations for vending machines can be challenging, but with the right strategy, you can succeed.
😂😂 shut up you absolute nerd
@@w1ll923 it's a bot
A vending buisiness can be very profitable if you get the right locations, reliable equipment, and buy your drinks, candy, and snacks at the best prices you can find. I recommend you get a state tax I.D. number so you can have access to the wholesale distributors that sell candy, snacks, and drinks, should they have lower prices on select items that sell good at your vending location. Sam's Club and Costco may not necessarily have the best prices on a specific item, like M&M's or Fritos. These places would definately be a good start. As of today, a 16.9 ounce bottle of Dr. Pepper costs 70 cents wholesale, but can be sold in a vending machine for $2.25 at your vending location. Lots of money to be made if managed right.
I got one that makes me about $150 a week. Combo machines are annoying to maintain, but it seems those are more profitable in the long run
The time it takes to source and store the food, around 2 hours. The time it takes to load the machine, 1 hour. U didn't include rent cost or gas money which varies. Profit about $10 an hour I'd say
And if you would watch my other videos you would see that I have my cleaning staff pick up all of the snacks and load the machines for me it cost me about 25 bucks a month to have that done
@@InvestmentJoyinteresting.
I couldn’t get anyone to agree to let me place my soda machine anywhere! I sent out dozens of letters and no one would let me place it, not even the mall. Now my soda machine is a rusted hulk rotting in my backyard !
I’m sorry to hear about that. I recently purchased a vending machine and I notice others are having similar problems of finding placement for it. It never occurred to me that I would come across this issue. So I’m hoping I didnt make a bad investment 😔
You have to get your location first before you buy your vending machine.
Have you tried making an ad on Facebook Marketplace?
But how are you putting the vending machine somewhere? Are you renting the land/electricity from some shop owner? You can’t just set up a vending machine somewhere random & walk away
Usually, you'd ask the property owner and cut them a %
To be honest he probably fishes around until he sees location where the owners willing to just let it chill. It does not happen often and can be really tough to do but this guy has so many gosh-darn vending machines he might have connections to local stores
I think he keeps it in one of his businesses like his laundromat.
I just watched a video where the guy uses some of the profit to donate to a charity and tells that to the location owner and tries to get the location for free. The donation is cheaper than paying the location owner rent.
He owns the place he puts his 2 machines in, no goof buissness would allow junk machines like these to be placed.
2.5k minimal budget for a propper machine and order a new scanner, he makes 20$ profit a month but makes these videos to make people who dont understand buissness belive hes some kind of guru with junk machines...hes not 😅 its all to sell his course, where he claims that he knows how to make 70k with vending A MONTH.
I probably spent 10k researching how to make a profitable company with vending machines and i can say 110% sure you need 250-280 machines to make 70k.
So hes full of sh*t.
But my goal is to gett 20-30 ~fresh new machines making 8-10k a month in profit quality locations that being said all of that wont be income to me personaly (4k/month).
Anything more then 30 and i feel like i need to hire people.
Adjust expectations, follow rules laws for your country. Health, food regulations etc, my country limits me as a owner to earn more then 4k by increasing taxes..etc.
Basically dumb down version how the money comming out after sales;
50% money goes to new products to fill, 25% taxes, repair fees, buisness expenses, fuel etc 25% my income.
Seems like a pretty good business! Just imagine asking a business hey, can I put a vending machine in front of your store?
Do you have a machine that auto rolls all the quarters together
People forget about the rare querters and bills that go into vending machines probably worth way more profit
I keep getting painted coins. Which are worth over $6.00
They dont they reject foreigns and incorrect denominations now and give tjem back
Sounds like unless it’s inside your own personal business, it’s not worth the effort!
Its very costly and expensive to do it right and you see you can buy a chip for 50 cents and sell it for 1 but when rent starts at 700 and creeps up and people dont like old machines you need the 6,000 dollar machine or whatever now it starts getting very very difficult. You have this 6000 dollars wrapped up in a machine every day it loses a fraction of its value right away and you have to claw tohr away out of it spending money on food and stocking to make it back. Traveling around collecting money the irs eyeballing you harder because youre a mainly cash business. Thats why hes filming himself counting the money its like youre also a robbery target
Awesome short Brandon
Can't buy full size candy bars for 60 cents today😂
Do you need a license to sell vending machines and can you place the vending machines anywhere??
anyone can buy one, but placing them somewhere is a key. Not every place wants one and you have to convince them to put it there, the owner may want a portion also from profit.
@@shindeirunaniusually they do want a portion, a hefty portion at that which kind of defeats the whole purpose since the food costs you money already. It’s best to get a hold of quite a few places and weigh your options and pick the best deal.
I’m sorry they didn’t answer your answer question I need the answer too
@@KyreeRodgers-cd3vp I literally said anyone can buy one, it's just finding a place to put it in is key
You have to run it as a business. So like my state there is no such thing as a business license but registering your business has like a 5 or 25 dollar processing fee or whatever so what happens is you fill out the form online and in the mail you get an offical letter saying your business is registered with the revenue offices and they give you an identification number and this number is useful because certain companies can give you a better deal on more bulk amounts of prodict if you have the number proving youre intention is business purposes. Then you can buy the machine and at tax time its a business expense they might recognize the expense and offset it against your income to reduce your taxable liability. It also makes it so you have this identification number if you for example have a local payroll and law office or whatever if they csn handle your employee aspect that is numbers they will need when you go and they cut payroll checks for you to give to your employees if you arent doing it yourself. A lot of businesses can handle that stuff these days. You register your business like a vending name maybe as a corporation so you can have a set tax rate idk. You know the deal. You dont wamt to set up just 1 you want several in good spots and you want to get the money legally by reporting it and having it set up right so you can easily have your employee working in your place and stuff like that. Its very hard to do just 1 machine as you pay for accounting and tax time so as a business where you have several machines strategically you have enough where you run through product amd it makes sense to buy months worth of cheetos if you want or if youre a rignt on time low inventory style. To me inventory is a key thing you camtnhage too little or too much. You wsmt enough you can keep selling and banking if some have a shortage but if you have too much that isnt selling you have waste and in these businesses of rolving inventory woeth pennies you are punching pennies on you want low waste. You habe to think about how it costs a lot if you want a new machine that accepts the debit and credit amd cash and coins with the fancy sensors etc it costs you tens of thousands for a handful of machines unless you go with old ones. So those things in ten years will depriciate to half their value so in ten years you put 20 in get 10 out. So you have to sell 2000 product a year as well for 1 each you profit 50 cents off each just to overcome the machine depriciation. Unless you get an old 800 dollar machine. So you have to sell 2000 items to make 1000 bucks just to keep the door open and lights on every month. Plus another 167 items per month just to make in profit what you kost in machine depriciation. Which is a write off too btw. Thats why you wany to tun it as a business. You can see its a battle. Do you want 1 good machine for 6000 or 5 for 4750 and you got 1250 for supplies but no one can use credit its a cash only machine. If you have 25000 to invest youll have 5 for paying rent and supplies for a short while and 20 to buy 2 machines for 5k and another 5 for 80p each you cam have 6 machines if each makes 100 a week you can at least be in the green even if its little. Plus its competitive and commecialized. Everyone like cheetos lays doritos soda and water etc so a lot of machines have more variety than ever but they are all similar. So location plays a lot its more. If two similar machines mostly have the same product the one selling more is probably in a better spot. Its a tough business as you likely about need a sedan at minimum to haul the goods around. So thats 100 a month in insurance on a cheap old used accord. and you got gasoline. They want you to track miles if you want to i guess yoh dlnt have to but business miles reduce tax burden which increases profit margin and when youre selling 50 cent chip for 1 buck and they dont pay up as often when itd 1.25 them every penny you earn inbetween that 50 cents cost and buck sale price you want to keep and some you wont most of it is sucked up just keeping the rent paid tbr toilet flowing the light on as well as fighting machine depriciation
$90 in four days doesn't seem like much. Also consider the cost of placing the machine, the work of restocking.
An old machine like that I’m surprised you can’t even get it to work at all. It’s got to be an energy hog and question is can you even get parts… The things you find for that kind of money usually are not worth hauling home just for the above reasons I mentioned, if you ever need to upgrade it to take credit cards, especially when it becomes a cashless society you can’t do it unless you drive by and check this machine physically to know what you’re out of stock on you’re buying extra supplies that’s not necessary and you never know if it’s got a problem till you drive-by or somebody called you Also not good. It’s gonna take you to drive by every day to look at this machine isn’t a good enough reason to buy something for $800. You need to be able to look at the vending machine remotely to know if there’s any troubles with the machine your total sales are what selling what isn’t Etc. I do, however think you’ve got it in a mediocre location for that kind of intake. It’s not a bad location, but it’s not a great one either.
Please explain how to find the locations and how to deal with them?
I don't understand, how much does the business / place you put the machine charge you to have the machine there? Plus maintenance / vandalism?
How did you get the site for the machines?
I miss them .60 cent candy bars. They now cost anywhere from .90-$1
Where do you put the vending machine? Where do u charge it? Surely you have to pay tax
I dont put candies in my VM. I put munitions.
I made a home made vending machine and mine actually works
There's a reason why they sold it. Sometimes you win sometimes you lose!😮
Man, why does no one seem to understand that getting a prime spot with even decent foot traffic and or younger people is NOT easy. And that’s before you scope out competition already in place. Just saying
your chips r loaded wrong
must get alot of hang ups.
take an extra 5 mins an fill right.
So there's roughly seven 4 day periods in a month. So 7 x 90 = 630 dollars a month. Pays itself back in 2 months? That's a solid investment.
Are you sharing any profit with the business?
$22.50 before rent/power and stocking cost.
Whats a fair cut to the store/business owner 80/20? Or like 85/15?
0, you're doing them a service by having the machine there for their clients / employees
@@brandondurant1381 yhh, they usually woudnt care about collecting $100 from you per month as the machine brings more potential customers to them.
If he is the store/business owner then he gets it all!
0% don’t waste your time on the greedy owners. You bring them more customers with the machine and feed their staff. I pass up immediately when they try to take a cut. Simply say “I’ll get back to you on that offer” and never go back lmao.
@Mr.Ditkovichlandlord Exactly. I'm already not making much with one machine. there is no way I could afford to to give a cut
The question is where and how i put that thing
He's leaving out the part about how expensive the contracts are to place it somewhere if you don't already have a place.
Free if you can negotiate well
Hall there's some for £24.92 in British and tangos are for 10p
60 cents for a candy bar? Brother what are you smoking. Sam’s club sells that sh*t for 90 cents plus and it continues to go up. You must be living in the past
Neat ,so you made 100$ profit counting the first month considering the vending machine was 800$ and the profit was 900$ . Not bad .
But how much is the profit (because you have to refill a lot of times) and also how do you get them into the public? You must have to pay rent or give a percent to the business you have your machine on
Its different for every one bro. He paid 800 for the amchine but he also sticks like the absolute cheapest junk he can get in it as its an 800 dollar machine. Here he says in 4 days he made 90 and about 40 is profit so i mean where i am thats about 13 gallons in gas. That fill up a prius man
I literally make 100% profit on most of my drinks
Even if ot was 9 bucks in 4 days. You work 2 ours. And leave it for 1 month before you work 2 ours again. So this is good side money to get
Check the actual profit first after deducting everything
Im interested in that occupation as well that's something nice to invest in
How do you arrange a contract or arrangement to set it up
Where is bro finding $0.60 candy bars lmao the actual cost today is $0.90 a bar 😂
Wait till you stumble on the video of mine where I'm buying them for 25 cents
Where is the vending machine at?
The IRS ENTER THE CHAT..
I bet hes never been audited and pays his taxes
I traded my 1st bowman elly for a Michael Jordan 86 fleer sticker all star
Where do you take your change for cash? Like the quarters and such?
90 dollars for 4 days? Thats 22.50 a day. Thats not worth the time or effort.. but hey if it works for you. Keep going!
If you have 10 machines and they're all equally popular, that's 225.00 a day
Is it worth getting in to vending machine biasness?
No everyone is in it. Its like asking if its worth buying walmart like bro the time to buy walmart was in like 1950 or whatever.
Roughly how much does I cost for you to stock I all up and also after do you make profit from filling it with snacks?
But how much are you paying for permits and things?
No permit he owns the building it's in
U can also just ask if u can put it there as another business and some places will sometimes let u just have it there i think not 100% sure but thats what i have heard
Its a vending machine not a skyscraper bro
How do you know where you are allowed to put the machine?
I need it ❤
How would I go about finding good locations to put vending machines when all of the good locations seem to already be saturated with vending machines that are owned by big companies like Coca-Cola and Pepsi?
No.
How do you program the vending machine to accept a certain sum of money for say number 56 “a twix bar” with inflation im guessing with the old vending machines the prices aren’t what they were years back
What kind of location you kept this?
How much do you have to pay the place there the machine is kept?
What’s better to buy, snack or drink?
What about repairs? Is there someone specific to call for that?
Learn how to fix them yourself. And you're in business. Good luck
The secret is to find outlets the sell thebstuff cheap
What is the split you are paying to the location
There's no where i could put a vending machine..
How many people have you talked to so far
Where do you have it located?
Which model is this vending machine ?
How do you find spots where you can place a vending machine?
How much money do u give to the owner of the place ?
How much is the currency counter?
It would take him 36 days to make a profit
How much is this quarter counter machine??
I think, yes 🧐
One reason I do not believe these videos is they never have dimes and nickels
Vending machines don’t take dimes and nickels most times
@@maclee713 They do in first world countries
90$ in 4 days is terrible
If you buy like 10 you can get insane money
In one year, you would be able to afford ten more
Then the year after it would be 100 more
And so on
You’d be making millions
This glitch worked when i played it but forgot what version it was in
I’m curious do you still make a lot of money in terms of actual quarters and dollar bills when you dumped out the coin dispense I was surprised I thought most people didn’t carry change anymore
Yes how are you how can I get one and learn how to do it
Is it taxed?
its cash...
We’re can I buy one
How u get a place to put it at?
Ngl that’s bad profit
I want vending machine automatic at the new apartment
Can you please tell me how to change the price on that vending machine because we have the same exact machine and I been trying to change the prices
Snack vending machines what percent of commission do you offer the location
Li k to buy vrnding machine? Need 4 pcs
Hey 👋 lo
I’d just unlock it 🤷♀️🙈😂😂
Sure there's some idiots in the comments asking about energy use...
Not worth it for me
What do you do with the money
what do people do with money?
Do you have to pay for electricity to put it in those place
Yes
Rent, insurance too
Is this old? Candy bars are like 90 cent a piece in my bulk retail stores
That's cool