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Started By
Message
re: Anyone own vending machines?
Posted on 10/16/23 at 9:19 am to pioneerbasketball
Posted on 10/16/23 at 9:19 am to pioneerbasketball
quote:
pioneerbasketball
Not in Arkansas, but it looks like Option 3 in Arkansas is what I do here.
I file monthly with the state the total sales, no sales tax owed. Purchase my Sales/Use tax permit yearly.
0
Posted on 10/16/23 at 9:21 am to TheOcean
quote:
Hawgeye is the man. Hopefully he responds
Thanks, and I just wanted to try and help as much as I could.
Did you end up setting anything up with suppliers or are you doing Sams Club/Costco?
Posted on 10/16/23 at 11:01 am to Hawgeye
Ty for the informative posts. Ive learned quite a bit in this thread.
When pricing vending machines to buy is there a guideline/rule that you use?
Example: 4k vending machine should make how much in sales? Basically, im asking if theres a price point formula?
When pricing vending machines to buy is there a guideline/rule that you use?
Example: 4k vending machine should make how much in sales? Basically, im asking if theres a price point formula?
Posted on 10/16/23 at 12:47 pm to pioneerbasketball
quote:
When pricing vending machines to buy is there a guideline/rule that you use?
Example: 4k vending machine should make how much in sales? Basically, im asking if theres a price point formula?
It is whatever price point you are comfortable with. Price of the machine iteself should not be used to dictate what the machine will make. The most important thing is where it is located and what the foot traffic is. You can spend $8k on a vending machine and it be in a sucky location and not make a dime. You can spend $2k on a good used machine and make $1k a week.
Posted on 10/17/23 at 2:49 am to Hawgeye
I know you touched on it earlier.
In a perfect world, the business wont charge you rent/commission. How much should one ask for if I can't get that?
Flat rate and/or % of profit.
Thanks.
In a perfect world, the business wont charge you rent/commission. How much should one ask for if I can't get that?
Flat rate and/or % of profit.
Thanks.
Posted on 10/17/23 at 3:21 pm to pioneerbasketball
quote:
n a perfect world, the business wont charge you rent/commission. How much should one ask for if I can't get that?
I wouldn't say anything about it to the business, let the business say something to you about it. There are some very informative videos on youtube regarding vending machines and owning them. I watched this one to get a lot of great information, YouTube.
Posted on 10/18/23 at 12:32 pm to pioneerbasketball
quote:
How much should one ask for if I can't get that?
Dont ask. Just be quiet. If they bring it up, negotiate on what they feel like the starting point should be.
quote:
Flat rate and/or % of profit.
Never a flat rate. Always a very small percentage.
Posted on 1/4/24 at 12:13 pm to TheOcean
Without digging into being too nosey, curious how this ended up going for you to end 2023?
Posted on 1/4/24 at 2:27 pm to Hawgeye
I was thinking about this thread the other day. Curious as well
On a side note. Ever thought about storage units as locations? I just moved some stuff into one and I would have killed for a drink and snack after.
On a side note. Ever thought about storage units as locations? I just moved some stuff into one and I would have killed for a drink and snack after.
Posted on 1/5/24 at 9:17 pm to Hawgeye
I think i'm going to wait to get more money before I get into this. I may start slow with gumballs to build connections and go from there.
Currently have
-Roth
-Investment property
-Lego Business
-w2 Job
Currently have
-Roth
-Investment property
-Lego Business
-w2 Job
Posted on 1/6/24 at 9:32 pm to TDsngumbo
quote:Au contraire.... best locations are remote and away from populated areas - but still on one way in/one way out State Roads. Galliano, LA (LA 1) is an excellent example. Buras, LA (LA 23) is another.
Routinely emptying them to collect a bunch of cash in high traffic areas
Posted on 1/7/25 at 5:55 am to TheOcean
How is everything going Ocean?
Just saw this and read through. Had some changes on my end the last year or so.
Have added locations at the new Tulsa outlet mall and a new cancer treatment hospital that was built and opened just over a year ago. Also took over/bought some machines at a training facility/gym outside of the Tulsa metro that’s busy 7 days a week (they have 3 full basketball courts that also transition to 6 volleyball courts. They host tournaments and don’t have a concession. Score!). Added a second van and a new employee.
With that training facility success I’ve got a plan to stake out all the local pickle ball facilities that have been popping up. They seem to be busy quite a few days a week and may be worth a look. Again, another indoor and secure location free of any theft chances.
Hope everything is going well. 2024 was my best year gross sales so far.
Just saw this and read through. Had some changes on my end the last year or so.
Have added locations at the new Tulsa outlet mall and a new cancer treatment hospital that was built and opened just over a year ago. Also took over/bought some machines at a training facility/gym outside of the Tulsa metro that’s busy 7 days a week (they have 3 full basketball courts that also transition to 6 volleyball courts. They host tournaments and don’t have a concession. Score!). Added a second van and a new employee.
With that training facility success I’ve got a plan to stake out all the local pickle ball facilities that have been popping up. They seem to be busy quite a few days a week and may be worth a look. Again, another indoor and secure location free of any theft chances.
Hope everything is going well. 2024 was my best year gross sales so far.
This post was edited on 1/7/25 at 5:58 am
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