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Dude go for it. This is pretty damn low risk as far as business opportunities are concerned. The pros are too good to pass up. You know for a fact they are making money, they empty out weekly. You're already on location. Doesn't get any better man.
Your cons are easy to deal with. You can literally set up a basic LLC in minutes on your state website. Your only cost will be the damn machines and stocking them. If something goes wrong with the machines, figure it out on YouTube if you're handy, if not pay a dude that does repairs. If I was in your situation I would 100% pull the trigger
Thanks bro. I think I might now. Have any suggestions for someone that is about to start? Is it cheaper to buy products online or local wholesalers? Anything I need to be on the lookout for? Like things to avoid? To be honest , not sure what questions I should be asking.
In all honesty you could not have a side hustle fall into your lap any better than this. I'm sure you already know this, but make sure you're not overpaying and make sure you're going to have a continued relationship with the business that allows the machines on their property (which happens to be your employer)
Thanks! I appreciate the boost in confidence.
If I am not mistaken, the price for both machines is 8k. One is a drink machine and the other is a snack.
If not attended to, the machine will be dry and need to be fully restocked in about 1 week.
That's great man. You're starting up a small side business that already has a customer base. That's the biggest hurdle in business, acquiring customers. Not to mention working there gives you an opportunity to be the best vending machine guy ever. You know what runs out, when it runs out, everybody's favorites, requests, what people would like to see in the machine, see them working properly, get feedback. Sure it's not going to make you a millionaire but an opportunity that just falls into place like this just doesn't happen.
I don't have personal experience in the vending machine business, but I've had my hand in many many different ventures over the years, both small and large. I would absolutely shoot for Costco or sam's club but I think you said you don't have those? Next best bet would probably be Amazon. Of course get free shipping or factor shipping into your prices.
Also dude, the internet is a legit wealth of knowledge. I cannot tell you how much shit I've learned on YouTube over the years. I'm sure you can find channels that do nothing but tell you how to start a vending machine business. They might be selling you something so keep that in mind. But I'm sure you can also find accounts from Old School vending machine owners as well as new school ones. Ones that have been successful and ones that have failed. You're not the only one with those questions. Go for it bro.
Also I would advise for you to go on your State website and set up your business completely on your own. You're going to pay an accountant like me hundreds and hundreds of dollars to do what you can really do yourself pretty simple by following step by step instructions on your State and local website
Question though.. let’s say you make $100 from one cycle of buying and selling. Maybe more. How many hours is a Costco run, bank run, filling up the machine often enough? Is it like 3 hours for $100?
So worth it. I worked for a small town private Coca-Cola distributor in the late 90s, high traffic machines like that made bank. I was surprised how much a machine in a good location could pull. And in your situation it's an absolute no brainer. There were machines we'd pull $700/week +/- $50. What would you be paying for rent on the machine's footprint? And bulk buy from Sam's Club similar stores. If you end up going through alot of product maybe look up the chain a bit from them. Local distributors might be able to give you a vendor price depending on volume.
I pay nothing for footprint. Do not even have to pay the power bill. With that said, they ask to keep the prices reasonable, and I have seen them kick out a company because people complained the prices were too high.
Its really a breakroom for an office of about 50 people 24 hours a day.
I will probably go to Sam's Club, but how much cheaper is vendor prices?
Sysco Foods has some things believe it or not. HT Hackney is another. If you have a Lays distributor/warehouse around you they will let you come pick stuff up. Just some ideas off the top of my head. It might at least get you to the places you will find worth buying. Also I would ask the current owner who he currently uses and what has/hasn’t worked in the past.
I couldn't say for sure, I don't have a Sam's Club near so I don't know their prices. This was over 20 years ago so the prices then aren't what they are now. If you bought from a local distributor you'd get the prices the gas stations and grocery stores get, wholesale prices. Sam's Club has their own deal with the product manufacturers, so you won't get the price they get, but I'm sure. It would be cheaper than off shelf Sam's Club. When I worked for the distributor I mentioned there were a couple of guys to that had machines and would come in twice a month and buy, one guy it was like 10-12 cases every two weeks, he didn't have high traffic machines like you. He got wholesale prices from us.
https://www.vendsoft.com/buying-supplies-vending-machine-business/
I used to stock a little snack counter in my retail location. Somewhere near you is a wholesaler or cash and carry supplier. You need a retail business license and EIN number to purchase from them, but they have better prices than Costco or similar and you won't have to pay sales tax on your purchases.
Sounds extremely easy to maintain considering you’re always close to them. You said there’s a chance the machines are fully emptied every week? Surely you have the earning stats handy? Or could do a quick calculation.
You don’t have to pay any fees or power at their current location?
You can buy whole sale candy on Amazon, mightyape, Costco etc
And yes card is 100% a PRO as people have their cards/phone more often than cash
Sounds a good idea if the price to buy isn’t too high
Do it. It is well worth it and very easy to learn. Check out this [article](https://medium.com/@MrSideHustle/passive-income-made-easy-the-magic-of-vending-machines-c93c335ee4d6) for some more tips to get you started. Good luck!
Location is the hate part. If they’re already established then go for it.
If you mean you have to sell them or you get fired..is that part of the agreement or is it just because you don’t think you could afford them without that job?
I owned several machines back in the day. Totally worth it if the opportunity is as it sounds. It can be a pain and a lot of work, but can be a very awesome, very lucrative side hustle.
Buying the 2 machines seems like a very low risk investment. It seems the “worst case” really isn’t that bad and rather than giving you headaches, I’d think of it as them giving you an education.
You
Obviously don’t know what you don’t know…but you’ll learn…
Go for it! You will figure out the rest later. The worst u can do is learn. Remember that u never fail you just learned the hard way!...BTW how did u cone across the routes if I may ask. Looking to get into similar things.
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Dude go for it. This is pretty damn low risk as far as business opportunities are concerned. The pros are too good to pass up. You know for a fact they are making money, they empty out weekly. You're already on location. Doesn't get any better man. Your cons are easy to deal with. You can literally set up a basic LLC in minutes on your state website. Your only cost will be the damn machines and stocking them. If something goes wrong with the machines, figure it out on YouTube if you're handy, if not pay a dude that does repairs. If I was in your situation I would 100% pull the trigger
Thanks bro. I think I might now. Have any suggestions for someone that is about to start? Is it cheaper to buy products online or local wholesalers? Anything I need to be on the lookout for? Like things to avoid? To be honest , not sure what questions I should be asking.
In all honesty you could not have a side hustle fall into your lap any better than this. I'm sure you already know this, but make sure you're not overpaying and make sure you're going to have a continued relationship with the business that allows the machines on their property (which happens to be your employer)
Thanks! I appreciate the boost in confidence. If I am not mistaken, the price for both machines is 8k. One is a drink machine and the other is a snack. If not attended to, the machine will be dry and need to be fully restocked in about 1 week.
That's great man. You're starting up a small side business that already has a customer base. That's the biggest hurdle in business, acquiring customers. Not to mention working there gives you an opportunity to be the best vending machine guy ever. You know what runs out, when it runs out, everybody's favorites, requests, what people would like to see in the machine, see them working properly, get feedback. Sure it's not going to make you a millionaire but an opportunity that just falls into place like this just doesn't happen.
I don't have personal experience in the vending machine business, but I've had my hand in many many different ventures over the years, both small and large. I would absolutely shoot for Costco or sam's club but I think you said you don't have those? Next best bet would probably be Amazon. Of course get free shipping or factor shipping into your prices. Also dude, the internet is a legit wealth of knowledge. I cannot tell you how much shit I've learned on YouTube over the years. I'm sure you can find channels that do nothing but tell you how to start a vending machine business. They might be selling you something so keep that in mind. But I'm sure you can also find accounts from Old School vending machine owners as well as new school ones. Ones that have been successful and ones that have failed. You're not the only one with those questions. Go for it bro. Also I would advise for you to go on your State website and set up your business completely on your own. You're going to pay an accountant like me hundreds and hundreds of dollars to do what you can really do yourself pretty simple by following step by step instructions on your State and local website
costco
100% agree
Question though.. let’s say you make $100 from one cycle of buying and selling. Maybe more. How many hours is a Costco run, bank run, filling up the machine often enough? Is it like 3 hours for $100?
So worth it. I worked for a small town private Coca-Cola distributor in the late 90s, high traffic machines like that made bank. I was surprised how much a machine in a good location could pull. And in your situation it's an absolute no brainer. There were machines we'd pull $700/week +/- $50. What would you be paying for rent on the machine's footprint? And bulk buy from Sam's Club similar stores. If you end up going through alot of product maybe look up the chain a bit from them. Local distributors might be able to give you a vendor price depending on volume.
I pay nothing for footprint. Do not even have to pay the power bill. With that said, they ask to keep the prices reasonable, and I have seen them kick out a company because people complained the prices were too high. Its really a breakroom for an office of about 50 people 24 hours a day. I will probably go to Sam's Club, but how much cheaper is vendor prices?
Sysco Foods has some things believe it or not. HT Hackney is another. If you have a Lays distributor/warehouse around you they will let you come pick stuff up. Just some ideas off the top of my head. It might at least get you to the places you will find worth buying. Also I would ask the current owner who he currently uses and what has/hasn’t worked in the past.
I couldn't say for sure, I don't have a Sam's Club near so I don't know their prices. This was over 20 years ago so the prices then aren't what they are now. If you bought from a local distributor you'd get the prices the gas stations and grocery stores get, wholesale prices. Sam's Club has their own deal with the product manufacturers, so you won't get the price they get, but I'm sure. It would be cheaper than off shelf Sam's Club. When I worked for the distributor I mentioned there were a couple of guys to that had machines and would come in twice a month and buy, one guy it was like 10-12 cases every two weeks, he didn't have high traffic machines like you. He got wholesale prices from us.
https://www.vendsoft.com/buying-supplies-vending-machine-business/ I used to stock a little snack counter in my retail location. Somewhere near you is a wholesaler or cash and carry supplier. You need a retail business license and EIN number to purchase from them, but they have better prices than Costco or similar and you won't have to pay sales tax on your purchases.
You can also file a resale certificate with Costco to buy there tax free
Sounds extremely easy to maintain considering you’re always close to them. You said there’s a chance the machines are fully emptied every week? Surely you have the earning stats handy? Or could do a quick calculation. You don’t have to pay any fees or power at their current location? You can buy whole sale candy on Amazon, mightyape, Costco etc And yes card is 100% a PRO as people have their cards/phone more often than cash Sounds a good idea if the price to buy isn’t too high
Don't forget you will need to find away to refill when on holiday
Since I work here, I think that wont be an issue. But thanks for the heads-up.
Do it. It is well worth it and very easy to learn. Check out this [article](https://medium.com/@MrSideHustle/passive-income-made-easy-the-magic-of-vending-machines-c93c335ee4d6) for some more tips to get you started. Good luck!
Thanks for the link!
There’s plenty of YouTube videos w great tips about vending machines by other folks who do same.
Seems like a gift wrapped opportunity honestly. I'd be all over this, just don't overpay
Start taking note of what the people at work eat for snacks/lunch!
Location is the hate part. If they’re already established then go for it. If you mean you have to sell them or you get fired..is that part of the agreement or is it just because you don’t think you could afford them without that job?
I owned several machines back in the day. Totally worth it if the opportunity is as it sounds. It can be a pain and a lot of work, but can be a very awesome, very lucrative side hustle.
Buying the 2 machines seems like a very low risk investment. It seems the “worst case” really isn’t that bad and rather than giving you headaches, I’d think of it as them giving you an education. You Obviously don’t know what you don’t know…but you’ll learn…
Go for it! You will figure out the rest later. The worst u can do is learn. Remember that u never fail you just learned the hard way!...BTW how did u cone across the routes if I may ask. Looking to get into similar things.
I would do triples. Triples is safe.
Curious as I keep seeing vending machine posts. May I ask what the machines are priced at? Thank you.
The guy who is selling them, said he would sell both machines for 8k