Reasons not to start a vending machine business. #vendingmachinebusiness #vendingmachine #reasonsnotto #givemeareason #sidehistleideas #smallbusinesscreator
I put $5 in vending machines twice before. And the damn things stole my money. The stupid employees did not give my money back even though they watched.
@@pristinevending How is it funny? You used so many double negatives that I had to pause the video and think about what the hell you were trying to write. Not only that, this video is only a few seconds long. This was probably the worst video I’ve ever seen in my life.
For whosoever shall call upon the name of the Lord shall be saved. (Romans 10:13) Enter ye in at the strait gate: for wide is the gate, and broad is the way, that leadeth to destruction, and many there be which go in thereat: Because strait is the gate, and narrow is the way, which leadeth unto life, and few there be that find it. (Matthew 7:13-14) For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord. (Romans 6:23)
To obtain financial freedom, one needs to be a business owner, an investor, or both, generating passive income, particularly on a monthly basis. Are you interested?
Its a rigged game man the cost is high the labor is high the profit margins are slim. I look at the cost to start this type of business and you lkok at how you buy everything in bulk you spend a lot on inventory. You get the crackers for .25 cents you have to sell them at cost or for .50 cents. You gey the chips for 61 cents each or 50 cents each or whatever its at and you sell them for 1 dollar and you basically make a quarter off each one. The cheap store brand soda cost 25 cents each so you can sell at cost for no profit or you sell them for .50 and make 20 cents profit of each one. The name brand sodas you maoe aboht 20 cents profit. The chips you make 25 to 50 cents profit as well as the bottled sodas because youll list them for 1 to sell them close to cost where yiu maoe little money or none but people buy them up cheaper than at the gas station, or you list them like everyone else in town for 1.25 pr 1.5 and you can have a 50 or 75 cent profit margin. But people will pay for 1 dollar or 1.25 soda more than 1.5 soda. The sun chips cost .61 cents a unit but you want to pay the delivery guy in a big bulk delivery or yoh incure costs to pay tp go pick it up so either way youre at like .75 cents a unit. So you habe to sell those for 1 minimum to make 25 cents on each. So you think people might only have 2 dollars if the soda is 1.25 and the chip is 1 or 1.25 then they can only afford 1 and you have a 50 cent profit margin but you couldve had the same 50 cent profit margin if you listed both for 1 and sold them 2 items instead of 1 and now your machine has 2 dollars in it more insyead of 1.25. So its this balance. If you sell at cost you make no money. To get any profit you hage to make 25 cents off every item and you emd up barely making any money and working hard stocking up chump change around town all day. Or you price up and less people buy and your profit margins are bigger but less people are buying so is it even really an improvement or just not. So they want you to list the 25 cent cost cracker for 50, the and 60 70 cent chips they want you to list for 1 buck. The bottle soda they want you to list for 1 and no less and rhey might pay 1.25 where you profit 50 cent on each but they buy less amd 1.5 a bottle they buy less but now you make .75 on each. So a lot will split the difference and theyll do something like 1.25 soda all the time and 1 dollar chip and 50 or 75 cent crackers or like the 25 cent offbrand soda can for .50 cent whatever it takes for them when they come with 8-12 quarters theyll leave with 0 quarters and if you make 50 cent on their bottle 25 cent on their chip if they came with 3 dollars and they spend their last dollar on 2 crackers you make another 25 cent off each of those, you make 1.25 off them. And they csme with 3 dollars. Say they only came with 4 quarters you want them to get like a 50 cent soda can and a pack of crackers. You can at least take half of what they spent as profit. If they come with 2 dollars you want them to maybe buy a can of off brand soda for 50 cents, a cracker for 50 cents and maybe they get a 1 chip and tou will make 1 dollar profit off their 2 because for every 50 cenr soda you sell you make 20 cent. For the 1 cracker you paid 75 so you got another 25 there thats 45. The cracker you make another 25 cent so its actually 70 cents profit for every 2 dollars they spend in that combination. Of course before taxes and assuming after delivery cost of goods and not being paid to stock your machines still leabes room for 25 cent profit. It doesnt. The margins so thin. You coukd list soda you buy for .71 cent for 1 and yoy make .25 on each and the chip you buy for .61 you even them out say to transport the goods it comes to .75 cent each so you have to list them for 1 minimum. If someone spends 2 dollars getting a soda and a chip priced at 1, they spent 2 dollars you only profited 50 cents. So you need thousands and thousands and thousands of soda and chip sales before you even recoup the cost to buy the depriciating machine let alone your time and effort aquiring product filling it up you have to count the money take it to the bank and do the accounting so youre not overtaxed because anything like that eats into your 20 cent profit margin so fast suddenly yiure working for free as a slave saying "at least im serving my community"
I'm all for jokes. But to ❤️ this is unprofessional AF. I'm a recovering alcoholic a year sober this month. Alcohol almost took my life. I know you would never do that it's just a joke, but to ❤ this is shameful
Stuff. Be prepared to work 8 to 16 hours a day. In many locations that can mean, 7 days a week. Be prepared to do as much if the repairs and placements yourself ( likely you'll save a bunch of money.. unless of course you're not in good health). Be aware always, you must make your bank/ loan payments and always keep in touch if anything goes wrong with that. And you have to be patient with customers esp. in manufacturing businesses and sports fields. People will vtake crowbars , hammers, hack them, for the cash, the product,vto mess with the owner or repairman or both. Its practically unbelievable what you'll run into. And on the vendors side, you'll think you ran into a good location with good people. And it can be so friggin reverse. Contracts, contracts, get it all written and signed, dated, copied, etc, etc. It's work, and often a lot of it. You're best if you're stoic about vit( all things will pass) but smile like you like people, whether vthat 'liking' is there or not. Vehicle repair can be $ account emptying, like a dead river suddenly becoming active. Challenges, whoosh. Contracts, contracts. Crazy world
You're also gonna want insurance in case Karen sues you because little Jimmy choked on his gumball, and she trys to blame you. Always get a license, and insurance. From what I hear it's not anything ridiculous price wise for either. I don't know too much though you'd want to ask a professional
My state has no such thing as a business license but they want you to register your business for your taxes and because some businesses have better pricing for bulk buyers buying amounts a normal people wouldnt if you have your identification number you gey for registering. I did it once to see what it was like its usually just a form online i did and i paid like a small processing free and i got a letter in the mail with my employer identification number saying my fake business was now officially legitimate. To me that part is very easy its everything else that is bullshit
So should work but not like almost like a week to earn money from that job than buy the thing for vending machines I’m correct right if not please tell me what should it be
@@ethanwood6832not all some do rent free but I made deal were I offer drink at lower price than other places and owner agreed depends were and what you offer .
It doesnt cost anything your pitching your vending buisness for their convenience and you can mention charities or compensation such as 10% so on not to mention you dont need LLCs or anything like that if your not looking at it as a buisness standpoint and your looking at it as a passive income standpoint w only around id say 10 locations @ethanwood6832
Yo bro, keep up the good work, quick question. Do you have an issue with candy and chocolate being refrigerated? What temperature is your vending machine at?
Right! If I do a vending machine business I'd want to put healthy alternatives, but be smarter about it since it's not exactly as accessible for everyone's economic situations depending what you put in there whether it's beverages or other. Would love to do a microgreens vending machine! Lol😊💕
It does open opportunities to do for my community that otherwise wouldn’t be there. In many ways. No different than any other local business that gives back I guess.
@@notacat7127 He is providing a service... hence the helping part.. they want a product, his vending is there to help them get that service... also are you really calling out a business owner for making money?!?!?
