- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Anyone own vending machines?
Posted on 12/9/22 at 6:18 am
Posted on 12/9/22 at 6:18 am
I know this has been a topic on here from time to time. But looking to buy a few and give it a shot. I have a couple of other businesses so pretty confident I could turn a profit within the first year. Would just be a part time hustle
7
Posted on 12/9/22 at 7:08 am to TheOcean
Routinely emptying them to collect a bunch of cash in high traffic areas of today’s America sounds like a great idea.
Posted on 12/9/22 at 7:13 am to TDsngumbo
Thankfully I don't live in New Orleans/Louisiana
Posted on 12/9/22 at 7:25 am to TheOcean
You would not want to buy many used as the maintence can eat into all of your profits. Go ahead and get one that would run you about 4k. You would also want one that is a stacker machine as they are easier to load and they jam less often.
Also if it does not come with a credit card reader make sure you purchase one, they usually run 300-500 bucks. This can be the difference in a sale or not depending on if they have cash or card.
Find a high traffic area that you know will sell some drinks and set inside. You can use D7 Lead Finder in order to help you find a busy location if they have access to your area or if you are friends with someone who owns a business or you already own a business then you could just place one there. You would need to have a few vending machines to turn a nice profit as one may only bring you a few hundred bucks a month once you account for the beverages you have to buy. Also find a wholeseller to buy your beverages from so that you can buy in bulk.
Also if it does not come with a credit card reader make sure you purchase one, they usually run 300-500 bucks. This can be the difference in a sale or not depending on if they have cash or card.
Find a high traffic area that you know will sell some drinks and set inside. You can use D7 Lead Finder in order to help you find a busy location if they have access to your area or if you are friends with someone who owns a business or you already own a business then you could just place one there. You would need to have a few vending machines to turn a nice profit as one may only bring you a few hundred bucks a month once you account for the beverages you have to buy. Also find a wholeseller to buy your beverages from so that you can buy in bulk.
Posted on 12/9/22 at 7:42 am to Errant_Knight
Thanks! Any specific machine models you recommend? Do owners typically do their own repairs on machines?
How do you typically approach businesses after you've identified them using D7 lead finder?
How do you typically approach businesses after you've identified them using D7 lead finder?
Posted on 12/9/22 at 11:37 am to TheOcean
Stock oh henry
Posted on 12/9/22 at 2:57 pm to TheOcean
This is going to seem stocker-ish but so be it, but aren't you a lawyer that claims to own multiple rental homes including a short term vacation home or two? And you are looking to own and restock vending machines?
Unless you have a lead on a place that is being built that could use a bunch of vending machines, my limited experience here is that there are people that do this already and they are hustlers so the chances of finding a location that's been around is slim to none. The money on vending machines is not enough to make it worth it unless you are planning on hustling hard. You will need to restock it routinely which is a PITA, an empty machine will piss off customers and turn people away.
Unless you have a lead on a place that is being built that could use a bunch of vending machines, my limited experience here is that there are people that do this already and they are hustlers so the chances of finding a location that's been around is slim to none. The money on vending machines is not enough to make it worth it unless you are planning on hustling hard. You will need to restock it routinely which is a PITA, an empty machine will piss off customers and turn people away.
Posted on 12/10/22 at 1:27 am to baldona
I'm all about finding side hustles
Posted on 12/10/22 at 5:25 am to baldona
quote:This is 100% not true. Now you are not going to make much owning only 1 or 2 but when you get around 15-20 you can make a decent amount of change. Especially if you find some places that have high level of walk through traffic.
The money on vending machines is not enough to make it worth it unless you are planning on hustling hard.
Even starting small such as a local mechanic shop that may only make you a few hundred a month is better than nothing. The mistake some make is buying used and then having issues having to fix, especially if you are not a mechanically inclined person and you have to hire someone out.
quote:It isn't like this takes hours. Depending on the size of the machine and how often you can visit the location it only takes a few minutes to restock. You get a CC and it can give you real time information on what is being purchased so that you can see what is low. Some of the higher end machines can allow you to know what is low as well.
You will need to restock it routinely which is a PITA,
quote:Also not true, if you can make a relationship with someone you can get them to add your vending machines even if they already have some. It really depends on the person and how well they can interact with people. Plus find any new construction and see who the manager is and discuss with them. Some places will rent you the space but if it is a high traffic area it doesn't really matter.
so the chances of finding a location that's been around is slim to none.
Like all start ups it will cost money at first and take some time to start seeing profits. Cost of a quality machine would be around 5k then you are looking at a couple hundred stocking and restocking the machine. However, once you get a few of them going you can make money and they really don't take long to restock.
Posted on 12/10/22 at 5:31 am to TheOcean
quote:Start here looking to see, stand up cans works the best for me
Any specific machine models you recommend?
quote:IF you are mechanically inclined it can save you hundreds if not thousands depending on the issues you run into, much like anything else.
Do owners typically do their own repairs on machines?
quote:Same you would with any business, go in and strike up a conversation with the employees and owners trying to find out what they like/don't like. The type of foot-traffic they get on a daily basis and if they would be interested in a partnership.
How do you typically approach businesses after you've identified them using D7 lead finder
If you don't know them personally they may ask for a rent fee or something to allow you to place the machine in their place of business. Sometimes they won't because it saves them time and they know their customers would use it.
Posted on 12/10/22 at 6:36 am to Errant_Knight
Really appreciate it. How many do you own? Just curious
Posted on 12/10/22 at 7:39 am to TheOcean
Currently I have 13 (7 beverage and 6 snack) I also have 4 ice machines and these together bring in an additional 8k a month after I pay for the products/rental fees. I have most of my machines at hotels however also some community centers. I've been trying to catch get into the break rooms at the plants because that is some good money as they will empty a machine in only a couple of days.
I usually go and fill the machines after work as several are on my way home. At least go and check the machines to see if they need anything and that they are working once a week. I have CC reader on each machine which does help keep stock of inventory, just have to check because those that pay with cash it doesn't account for.
I usually go and fill the machines after work as several are on my way home. At least go and check the machines to see if they need anything and that they are working once a week. I have CC reader on each machine which does help keep stock of inventory, just have to check because those that pay with cash it doesn't account for.
Posted on 12/10/22 at 8:54 am to Errant_Knight
quote:
Currently I have 13 (7 beverage and 6 snack) I also have 4 ice machines and these together bring in an additional 8k a month after I pay for the products/rental fees.
So you clear 96k a year? With the 17 machines how many different places are these at?
You could easily outsource the filling of the machines to someone and still make a really nice profit.
The plants & hotels seem like good choices.
Posted on 12/10/22 at 9:32 am to Errant_Knight
Pretty badass. Do you give the hotels a cut? Don't recommend the combo machines that have beverages/snacks?
Posted on 12/10/22 at 9:49 am to nolanola
quote:not yet but it is trending that way. The last 4 years have been hit or miss with covid, lockdowns, etc. Plus ive bought machines here and there. The real money starts when you have 30+ machines ive heard. The last 3 months I've been close to that 8k on the average. I also just purchased two new machines that I'm currently paying on and not what I added to the above number. The 8k is only removing supplies and rental fees at various places.
So you clear 96k a year
quote:that's eventually the goal once I get a few more machines and I'm able to clear the 6 figure mark.
You could easily outsource the filling
Posted on 12/10/22 at 9:51 am to Errant_Knight
quote:
Like all start ups it will cost money at first and take some time to start seeing profits. Cost of a quality machine would be around 5k
If someone completely started from scratch with a ~$5k investment how long roughly would it take for them to recoup the original cost you think?
Posted on 12/10/22 at 9:52 am to TheOcean
quote:no but like I said some places charge a rental fee that can be up to 200 a month (some want more) so you have to see how much product you can move and negotiate from that. Usually get an agreement where they give me three months to see how much I can sell and then meet with them about. Sometimes they say nevermind and I just keep my machine there.
Do you give the hotels a cut? Don't recommend the combo machines that have beverages/snacks?
I don't have a combo machine, never owned one so I can't comment on that. My first one was just a beverage machine and since then I've bought one or the other.
Posted on 12/11/22 at 2:45 am to Errant_Knight
You do the repairs yourself? Also, what are your thoughts on buying an existing machine at a location?
Posted on 12/12/22 at 1:57 pm to Errant_Knight
quote:
It isn't like this takes hours. Depending on the size of the machine and how often you can visit the location it only takes a few minutes to restock.
I have some experience, I worked for a non profit that had an ice machine and some vending machines.
Unless you are a true true hustler as I said there's no money in them that's worth your time. Op is a lawyer that's buying rental homes, there's a HELL of a lot more money in him putting his time and effort there.
At some point when you make $100-150k (OP claims he makes much more) you have to look at the time-value of money and vending machines aren't there.
The issue with vending machines is you have to be johnny on the spot all the time, or they aren't selling shite. Even stopping at 5 machines a week to make $500 is going to get old as shite very very fast to someone already making money.
Its not just about breaks, its about money jams, internet going down, power outage, etc. If you have a location doing okay then the client is going to want that fixed asap.
As I said, my experience is its VERY difficult to get more then one good location. There's people hustling vending machines 24/7 in almost any town. If you want to truly make it into an eventual full time job that's one, but OP doesn't.
I just think there's a lot better hustles out there, hell driving for Uber would likely be more worth your time.
This post was edited on 12/12/22 at 1:59 pm
Posted on 12/20/22 at 12:37 pm to Errant_Knight
Hey man...just bought 8 vending machines at a building. Mind if I pick your brain some more?
Page 1 of 6
Popular
Back to top
Follow TigerDroppings for LSU Football News