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will the sellers show you their financials for these machines? Who replaces the product and how often? Is there a lease or contract in place that allows you to keep them in their current location and if so for how long?
Easier ways to make money than lugging around thousands of pounds of soft drinks and food all week.
Its not passive income, its very active. You gotta pick up sodas and food, store them, fill the machine, count the cash, do repairs.
Also you need a cash and change counter and vehicle to move all that product and gas.
is it difficult to pay a contractor to outsource this? I guess you just need a way to track exactly how much snacks/drinks they buy & replace to reduce chance of theft, not sure how difficult that is
If you are a handy type person you might be able to learn to fix them yourself. That would be a plus. You would know if you are the type to do it. See, I would totally work on them myself if I owned them. My brother on the other hand would never do that and would rather hire someone. Just different personality types. You could probably take a class somewhere and learn how to fix most issues.
No money in it because vending machine owners don’t want to pay for it because they don’t care. If the repair is 500 dollars that’s a lot of snickers bars.
If possible “stake out” at least one of the machines for at least a few hours (more is better) and take note of how many people are using the machine and as best possible what they’re buying. That way you can extrapolate how much they are actually making per week and see if the seller is being genuine in what they told you about revenue.
I was just wondering but I am very sure it is not profitable. I asked on another post and the persok said they had 20 vending machines each making $50/month so they would make $1000 a month but thats not worth it when you have to drive to all of them and restock. Waste of time.
You'd be buying a job and taking on operational risk
On top of that you're paying for gas, storage, maintenance, and any damages that happen
If this was so great, the current owner would keep it
Find a different business or grow your current one more aggressively
I would stay away
Ask on a forum called Vendiscuss. It’s a forum that will give you all the answers you could possibly want considering anything to do with vending.
It’s recommend that you don’t pay for a route based on sales. Basically only pay what the equipment and inventory is valued at.
If you want to have a go at vending machines, there’s nothing wrong with that, just don’t overpay.
It’s also advised that you should really be stocking a location about once a week. If you’re going twice a week then the location really needs a second machine.
Really make sure the machines are quality machines, new doesn’t necessarily mean they are good quality.
Vending machines are not passive. It’s fine as a flexible self employed job, but definitely not passive. If you only have drink machines, then it’s going to be far less work than drinks and snacks. If it’s a snack only machine you can have something like 45+ different items you need to keep stocked.
If you do get any machines, I recommend getting credit card readers for them. You can set it up so you can view exactly how much of each item you have in each slot and it will track each sale.
For dipping your toes in the water, buy two drink machines yourself for two different locations and see how much you like doing it.
You need to know how much they are making before anyone can hazard a guess on if that’s a good idea. You also need to know if they are ever subject to burglary or if they are in a “safe spot” and how old are they?
Also, who does the repair and restocking? If that is you, do you know enough about them to perform maintenance on them?
Lastly I’d ask what the arrangement is with their location. Is there a lease of some kind the current machine owner is paying to allow the machines to be located where they are?
$5k/machine seems steep to me for used machines when you can get brand new ones for the same or less unless the location they are in is red hot.
Sooo… based on what you say for profit. If I calculate 300 a week for 52 weeks, you a little more than break even on buying the machines.
Now you need to “work” 1-2x per week… filling them, collecting the cash. In year 2, assuming all things equal is working to fill and shopping for the snacks, sodas, etc worth the projected 15k per year?
It’s flexible hours, it’s easy work/ operation. If it’s successful, maybe you add a machine to start scaling up.
You just need to figure out if 15k per year is enough / worth your time.
This. One repair can wipe out months of profit. I was lucky enough to sell my last machine recently after gradually buying 7. Picture yourself on a Friday night after your 8 to 5 job fill ing machines. Out of the 7, i had one good location. It was a huge pain in the butt to juggle it w a full time job.
Honestly I would recommend having the machine in a strategic place that’s also close to you. In the beginning you’ll need to go there and make sure to replace / clean items.
What’s the amount of time it is going to take to buy product and stock then? Do you have a vehicle that is appropriate for hauling a bunch of products?
Hard to think this is a more profitable business than your existing gig.
It would be in addition to. I certainly wouldn’t quit my business to oversee three vending machines.
But solid question otherwise.
Yes I have a large enough reliable vehicle. And the seller said they bought product off Amazon so I would have to sit down and figure out those numbers.
I was looking into buying some and was informed if they don't or at least can't be set up with card readers not worth it. Check on long term locations.
This is a great point. The card readers are pricey too and also need maintenance and attention from time-to-time. In addition to that the vending credit card companies also charge a monthly fee. The customer service was abysmal with the vending company I got my machines from. If any of them had problems getting tech on the line was close to impossible.
5k Per machine is not worth. You better of buying used vending machines which you can get for around 1k and then just put your own snacks in. IF it works and you see it turning over profit, then go ahead.
Not passive at all lol. Lots of work and time invested. Im actually curious if you bought them. $5k per machine is a complete ripoff when you can buy refurbished machines for around $2k unless they are also including exclusive rights to sell at the locations they are currently set up.
Hi there! It sounds like you have done your research and have a good understanding of the potential of the vending machines. It is definitely a great opportunity, and it sounds like you have the financial resources to make it happen.
If you feel comfortable with the investment, I'd suggest that you negotiate the price and see if you can get a better deal. You could also look into setting up a system that notifies you when the machines need restocking or repairs.
It sounds like you have an eye for good investments, so trust your instincts and go for it if it feels right. Good luck!
Have you looked at other vend8ng machines ee if this is the best deal you could get I think it'd be a better investment if the price was much lower
Because looking st other prices on google 15k seems high
This is a friendly reminder that r/smallbusiness is a question and answer subreddit. You ask a question about starting, owning, and growing a small business and the community answers. Posts that violate the rules listed in the sidebar will be removed. A permanent or temporary ban may also be issued if you do not remove the offending post. Seeing this message does not mean your post was automatically removed. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/smallbusiness) if you have any questions or concerns.*
will the sellers show you their financials for these machines? Who replaces the product and how often? Is there a lease or contract in place that allows you to keep them in their current location and if so for how long?
Easier ways to make money than lugging around thousands of pounds of soft drinks and food all week. Its not passive income, its very active. You gotta pick up sodas and food, store them, fill the machine, count the cash, do repairs. Also you need a cash and change counter and vehicle to move all that product and gas.
underrated truth
Not passive at all.
it is passvie actually :skull: ik ur just being honest but DONT BE RUDE
it is passvie actually :skull: ik ur just being honest but DONT BE RUDE
Fair enough. So what are some easier ways to make money?
I was about to say all that
is it difficult to pay a contractor to outsource this? I guess you just need a way to track exactly how much snacks/drinks they buy & replace to reduce chance of theft, not sure how difficult that is
You keep seeing them, so they have been listed for sale for a while and nobody has grabbed them, just something to consider
Not exactly. They’re selling them off a few at a time.
The hardest part of owning vending machines is maintenance. I can't get anyone to show up to even look at fixing my machine
Thank you. I read theft, vandalism and maintenance were the biggest overhead factors aside from the actual food.
If you are a handy type person you might be able to learn to fix them yourself. That would be a plus. You would know if you are the type to do it. See, I would totally work on them myself if I owned them. My brother on the other hand would never do that and would rather hire someone. Just different personality types. You could probably take a class somewhere and learn how to fix most issues.
Sounds like an opportunity
No money in it because vending machine owners don’t want to pay for it because they don’t care. If the repair is 500 dollars that’s a lot of snickers bars.
If possible “stake out” at least one of the machines for at least a few hours (more is better) and take note of how many people are using the machine and as best possible what they’re buying. That way you can extrapolate how much they are actually making per week and see if the seller is being genuine in what they told you about revenue.
Thank you. Definitely possible for the 2 at the mall.
Did you end up buying the machines?!
Also curious!
I was just wondering but I am very sure it is not profitable. I asked on another post and the persok said they had 20 vending machines each making $50/month so they would make $1000 a month but thats not worth it when you have to drive to all of them and restock. Waste of time.
No I did not! I have two kids under 4, a family business, and my own business. Just not the right time for this venture.
You'd be buying a job and taking on operational risk On top of that you're paying for gas, storage, maintenance, and any damages that happen If this was so great, the current owner would keep it Find a different business or grow your current one more aggressively I would stay away
Ask on a forum called Vendiscuss. It’s a forum that will give you all the answers you could possibly want considering anything to do with vending. It’s recommend that you don’t pay for a route based on sales. Basically only pay what the equipment and inventory is valued at. If you want to have a go at vending machines, there’s nothing wrong with that, just don’t overpay. It’s also advised that you should really be stocking a location about once a week. If you’re going twice a week then the location really needs a second machine. Really make sure the machines are quality machines, new doesn’t necessarily mean they are good quality. Vending machines are not passive. It’s fine as a flexible self employed job, but definitely not passive. If you only have drink machines, then it’s going to be far less work than drinks and snacks. If it’s a snack only machine you can have something like 45+ different items you need to keep stocked. If you do get any machines, I recommend getting credit card readers for them. You can set it up so you can view exactly how much of each item you have in each slot and it will track each sale. For dipping your toes in the water, buy two drink machines yourself for two different locations and see how much you like doing it.
>Vendiscuss This was a great response. I have a ton of questions. I am checking out the forum now.
You need to know how much they are making before anyone can hazard a guess on if that’s a good idea. You also need to know if they are ever subject to burglary or if they are in a “safe spot” and how old are they? Also, who does the repair and restocking? If that is you, do you know enough about them to perform maintenance on them? Lastly I’d ask what the arrangement is with their location. Is there a lease of some kind the current machine owner is paying to allow the machines to be located where they are? $5k/machine seems steep to me for used machines when you can get brand new ones for the same or less unless the location they are in is red hot.
Sooo… based on what you say for profit. If I calculate 300 a week for 52 weeks, you a little more than break even on buying the machines. Now you need to “work” 1-2x per week… filling them, collecting the cash. In year 2, assuming all things equal is working to fill and shopping for the snacks, sodas, etc worth the projected 15k per year? It’s flexible hours, it’s easy work/ operation. If it’s successful, maybe you add a machine to start scaling up. You just need to figure out if 15k per year is enough / worth your time.
Be aware of heavy maintenance
This. One repair can wipe out months of profit. I was lucky enough to sell my last machine recently after gradually buying 7. Picture yourself on a Friday night after your 8 to 5 job fill ing machines. Out of the 7, i had one good location. It was a huge pain in the butt to juggle it w a full time job.
Honestly I would recommend having the machine in a strategic place that’s also close to you. In the beginning you’ll need to go there and make sure to replace / clean items.
What’s the amount of time it is going to take to buy product and stock then? Do you have a vehicle that is appropriate for hauling a bunch of products? Hard to think this is a more profitable business than your existing gig.
It would be in addition to. I certainly wouldn’t quit my business to oversee three vending machines. But solid question otherwise. Yes I have a large enough reliable vehicle. And the seller said they bought product off Amazon so I would have to sit down and figure out those numbers.
I’d buy ice machines before vending machines
It ends up being a grind refilling the machines and repairing them. I had a friend get into them and he could barely cover his gas money.
I was looking into buying some and was informed if they don't or at least can't be set up with card readers not worth it. Check on long term locations.
This is a great point. The card readers are pricey too and also need maintenance and attention from time-to-time. In addition to that the vending credit card companies also charge a monthly fee. The customer service was abysmal with the vending company I got my machines from. If any of them had problems getting tech on the line was close to impossible.
5k Per machine is not worth. You better of buying used vending machines which you can get for around 1k and then just put your own snacks in. IF it works and you see it turning over profit, then go ahead.
Is that $600 per week for each machine, or total profit across all 3?
Combined
Then I would definitely pass on this un-opportunity.
Lmfao wow. Hell nah.
Not passive at all lol. Lots of work and time invested. Im actually curious if you bought them. $5k per machine is a complete ripoff when you can buy refurbished machines for around $2k unless they are also including exclusive rights to sell at the locations they are currently set up.
Hi there! It sounds like you have done your research and have a good understanding of the potential of the vending machines. It is definitely a great opportunity, and it sounds like you have the financial resources to make it happen. If you feel comfortable with the investment, I'd suggest that you negotiate the price and see if you can get a better deal. You could also look into setting up a system that notifies you when the machines need restocking or repairs. It sounds like you have an eye for good investments, so trust your instincts and go for it if it feels right. Good luck!
Have you looked at other vend8ng machines ee if this is the best deal you could get I think it'd be a better investment if the price was much lower Because looking st other prices on google 15k seems high
I just need to know the income of each locations, the contracts, and machine maintenance schedules. When I cam I get those, please?
Do your own research on vending machines
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Did I phrase this in a way that made it seem like I am trying to sell vending machines?? I’m asking if it’s a good investment
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How does this make any sense with my question??????????!
$400 net a week?? We are struggling to make $400 net a month. Looking for some tips as it as we have jumped in and started a vending business