|
||||||
| Ways To Make Money Making money is another option to consider in addition to saving money. Share ways to make money, tips on making extra money and questions on how to make money |
 |
|
|
LinkBack | Thread Tools |
04-17-2010, 01:17 PM
|
|||
|
|||
Vending Machines - Ways to make money
Hey all,
I have a great way to make money... Have a route of vending machines. I have run a vending company now for almost 6 years and it is fantastic. I started out with just one machine in November of 2004 and now we are up to 180 machines. It sounds funny but we make an average of $4000 a month from these machines. That's 16, 000 quarters a month!!!!! One important thing I also did was hire someone to do the filling and route maintenance. This was key as it gave me the time to work on epansion. A vending business is a great way to make some semi-passive income while still keeping your day job. Expect to work about 10 hours a week for a route of 12 machines. Look around and make sure to start of buying used machines!!!!! Doing this will ensure that you will make money in the long run Cheers! Brandon 
|
|
04-30-2010, 08:25 AM
|
||||
|
||||
|
I was looking at your numbers.
10 hours per route of 12 machines. That means that you need 150 hours for 15 routes (15 x 12 = 180 machines). You make an average of $4000/month. Or, if you multiply that out, you’re making $48,000/year. And if you multiply all of the hours you get 7800 (150 x 52 weeks). Now if you divide $48,000 by 7800 hours you get $6.15/hour. Your machines earn you $6.15 per hour of work. Minimum wage is $7.25/hour. If you hired someone, you’re losing more money on salaries then you are earning on your machines. Even if you’re doing the work yourself, you’re losing money because you could be earning more working a minimum wage job. Are you sure about your numbers? Assuming they are correct, I’d suggest you sell your less profitable routes to some unsuspecting entrepreneur.
|
|
08-23-2010, 03:57 PM
|
||||
|
||||
|
Yeah, seems wrong. Every business should have one but I'm not sure it scales. Owning the vending machine companies is the best bet!
|
|
08-24-2010, 07:03 AM
|
|||
|
|||
|
Are those $4000 pure profit? I'd concentrate my efforts on the most profitable machines and move the others in areas that are close the profitable ones.
|
|
08-25-2010, 10:42 PM
|
||||
|
||||
|
Vending Machine profits
Yes, my partner made a lot of money doing this. He found that it did make a difference matching the products with the right location.
|
|
09-01-2010, 08:41 PM
|
|||
|
|||
|
yeah,good idea.hope you can do better
|
|
09-02-2010, 09:35 AM
|
||||
|
||||
|
I used to have a soda vending machine at my work. I got the idea one year when I received a bonus, and found a used machine through a vending machine company. it cost me $400 bucks, but I profited about $100 a month selling soda to my fellow workers for 50 cents a can (I found that at 50 cents I most of the people would use a dollar and buy two cans--higher charging would mean higher profits per can, but less cans sold). i had it for about two years (=over $2000 profit) and then moved out of state and sold the machine to a coworker for $400 dollars. I am looking for one to do the same at my current place of work, but the outlook is not so good to find a good used machine in Montana (i moved from seattle).
|
|
11-26-2010, 11:26 AM
|
||||
|
||||
|
I am looking into this as a good way to get my feet wet in the business world. Never having ran a business before (less mowing lawns in the summer,) I think this would be a good idea.
I have the opportunity to purchase 3 new candy vending machines (the kind w/ 3 compartments that cost 25 cents.) I am wondering how you guys compensated the person who owned the property you are vending on? I was thinking of just donating a percentage of profit to charity and making sure to give that business or location a plug with that charity, because its always good to have good PR within your community! Any other ideas?
|
|
01-03-2011, 07:18 PM
|
|||
|
|||
|
Quote:
$4,000/180 machines = $22.23 That means that your profit per machine per month is about $22.23 Is that profit margin worth it once you caftor in the time you spend filling, servicing, etc each machine every month?
|
|
01-12-2011, 10:37 AM
|
|||
|
|||
|
Hmn... vending machines are cool. Sadly, vending machines aren't big where I live. The only vending machines here only have drinks and snacks. It would be nice to have something the folks here haven't seen in vending machines before, like pens.
|
|
01-12-2011, 03:38 PM
|
|||
|
|||
|
Well, I hate to say. . .I thought of this business for my kids, to just get their feet wet in entrepreneuralism and it's something we could do together - buy a route, and then pay back the loan (from Bank of Dad) and then turn a profit, keep books, etc.
I think what one factor some may be overlooking here is $4000 is CASH. Now, think about that for a second. I am not suggesting that anyone don't report that $4000 in profit. . .but hum. . .ummmmm. . .well, there are a lot of pizza places in my area too and apparently, that is a lot of cash. . .ummmmm. . .know what I am saying here? 
__________________
www.fasting-for-health.com
|
|
02-02-2011, 09:34 AM
|
|||
|
|||
|
Yeah the profit margin seems small and to expand so quickly ....I don't know. I will do more research.
My question is how do you even get started on this venture...sound like a nice passive income
|
|
02-02-2011, 09:43 PM
|
|||
|
|||
|
It would be a good idea to start on this one if you are near a mall. Also, there are lots of financing programs specifically dedicated for this kind of businesses.
|
|
02-03-2011, 10:21 PM
|
|||
|
|||
|
where can I exactly get vending machines that are suitable for this type of business? And by the way, how much should I pay for hiring a staff that will do half of the work? Because you know, I have no time to supervise this thing 24/7 since I also have my own job.
|
|
02-25-2011, 02:29 PM
|
|||
|
|||
|
I hear that purchasing machines and making back your money takes possibly a year or two to see profit. Of course, this depends on location and how many people use the vending machines per location.
Does anyone here know about the new law getting ready to take affect? If you own 25 or more vending machines that you have to display the nutritional value on each item in the machine. The newer machines have a digital display that makes it easy for conversions when you swap items out, but if it's an older machine you must update the nutritional information manually. Thought I would mention this. I've heard of ways around this, but I believe this law is to go into affect this year. Anyone know when this is suppose to happen?
|
|
05-05-2011, 09:24 AM
|
|||
|
|||
|
Does anyone have any suggestions on getting other businesses to let you place the machine? How do you convince them to let you put the machine on their property? Just say, "I'll give you 10%"?
|
|
05-09-2011, 08:48 PM
|
|||
|
|||
|
The vending machines at my work just put in a credit card slider. So you stick your debit/credit card in and starting pressing buttons. I'm sure the profit on those machines have gone up quite a bit!
|
|
07-19-2011, 08:29 PM
|
|||
|
|||
|
how much money do you have to invest on average for each machine?
How long does it take each machine to recoupe the initial investment? With 180 machines $4000/month just doesnt really seem worth it. Can you let us know the inital investment amount?
__________________
http://www.adstalker.com is a personal finance blog. Adstalker is dedicated to providing young people ways to make money, ways to save money, ways to get out of debt, and personal finance tips.
|
|
| Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | |
| Thread Tools | |
|
|
