This is the kind of story I wanted to hear! Not some kinda BS story where he started with 100 dollars and finally he is the CEO of an agency. Many people hide the real information or any unfair advantages they had behind their success to make their struggle look massive. But this dude gave away all the info and it's very realistic! Wish him more success !!
In the video he said he has 21 machines. Let's do the math, $300,000 last year and $500,000 projected for this year divided by 21 machines means his average machine is making $14,000-$23,000 a year. That's $1,167 to $2000 per month PER MACHINE. I just did a quick google search asking what the average vending machine nets per month and multiple vending machine sites state $300-600 a month with some stating on the low end it's about $40 a week. In fact, one vending site says a person would need 75-100 machines to pull the numbers he's claiming. Sooo, either this guy has figured out how to mine gold with his vending machines or this video is telling us crap. Don't believe everything you hear on the internet. If vending machines were this profitable everyone and their mom would be doing it.
@@MH-ru8he you talk about the avarage, there is the top , avarage , low . If the avarage is 300/600 the top gonna be 600/1200 or more cause we don't how much he make it. You can start a tons of business with just 100$ bucks but no one did cause no one want to put all the effort in it
@@TheBasketballPlug sure but his average per machine is 2-3 times higher than the average reported by vending companies. Definitely makes a person question
The only thing he found was a full-time job. After taxes he’s only making about 150 K a year which isn’t chump change. But it’s a lot of work when you can do the same thing as a computer engineer and not have to run around all over the place, purchase inventory, babysit employees etc.
@@Eric_In_SF Not true, his job has an ability to scale. Plus, he has so much more freedom, free time compared to a salary man. Eventually, he can just hire ppl to do everything for him. A salary man can never have this kind of luxury.
@@Eric_In_SF He earns 150k a year before taxes comes out of that, the 300k is his revenue and his profit is 50% so makes 150k profit and then what ever the tax is on that in the US (not sure myself as im in the UK)
He's a really nice guy and down to earth. I just find all the B-roll they made him pose for hilarious. 1. Count bills in front of a fanta freezer. 2. Stand next to a vending machine and point at it. 3. Look thoughtfully out of a window.
@@cs2forlife because its not a super cut throat business. Look around, theres plenty of areas that could benefit from vending machines. People just need to think outside the box a bit and do some cold knocking on doors and hustling. Location is prime, you can have the best machine in the worst location and not make crap. Or have one in a prime spot that needs constant attention due to how often it empties. Take a look at how popular of a tourist attraction, YES *Tourist *Attraction vending machines are in japan. Hot coffee.. Pizza.. Literally ANYTHING from a vending machine. Many of these type havent even been brought here.. Untapped market.
@@DokesConspiracyNetwork seems like he has a vested interest in stocking what sells. I’m sure if more people wanted healthier options, he’d pop those in.
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash I invested the money using an analyst, and in seven months, I raked in almost $673,000
This guy is so transparent with his business, and I respect him. He has such a good soul, and I really dig his vibe. I wish I can be a business partner with him or even be my mentor.
@@fergusflanagan7823 the machines don’t restock them selves, and you have to search for the place where there is no machine already. But I do agree that it sounds easy
@@fergusflanagan7823 For every successful businessperson in vending there are so many disillusioned /failed efforts..... so yes buddy, it does take work and focus to grow a business like this. The calls, the maintenance, the restocking, the transporting, the warehousing, payroll, various insurances, vehicles, ect. Dude doubled and tripled his revenue across 3 flippin states Fergus. You need to digest that and please respect the hustle my brother because I think he's just getting started.
Successful people don't become that way overnight. What most people see at a glance-wealth, a great career, purpose-is the result of hard work and hustle over time. I pray that anyone who reads this will be successful in life..
Wow. What a humble, grounded man, slowly and patiently building an empire from the ground up and bringing his community up with him. He will definitely reach his goals! Wishing you all the best!
The investment you choose isn't right or wrong, just depends on the kind of business person you are or simply the kind of person you are. However, the end game is investing money long term creates wealth every time. Just pick what you like and understand, invest and it will pay off. A lifetime of investing for 5 mil is not hard to accrue.
But experts and strategists are telling us that those who believe the market will still bounce back are simply delusional - and they are about to get a reality check.
@@alexyoung3126 I agree. Based on firsthand encounter with one ‘’EILEEN RUTH SPARKS’’ now i have 55k in a well diversified portfolio which has grown by 3x in the past 7 months with compounding, venturing doesn’t necessarily boil down to money but you also have to be informed, be patient and back it up with good hands
@@checkforme234 I'm 39 and have decided I'm going to try and put 60% of my pay check into the market . How do i reckon with Sharon, whats her services like, do you think she can help me out ? I'm from Australia
@@stephaniestella213 EILEEN covers things like investment, insurance, making sure retirement is well funded, Go over tax advantages , ways to have a volatility buffer for investment risk. many things like that . Just glance her full name up on the internet .she's well renowned and has quite a following. So it shouldn't be a hassle finding her.
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
In the video he said he has 21 machines. Let's do the math, $300,000 last year and $500,000 projected for this year divided by 21 machines means his average machine is making $14,000-$23,000 a year. That's $1,167 to $2000 per month PER MACHINE. I just did a quick google search asking what the average vending machine nets per month and multiple vending machine sites state $300-600 a month with some stating on the low end it's about $40 a week. In fact, one vending site says a person would need 75-100 machines to pull the numbers he's claiming. Sooo, either this guy has figured out how to mine gold with his vending machines or this video is telling us crap. Keep in mind that this video was posted by a site who's sole business plan is to generate views and clicks by ideas of making it rich so there's an inherent conflict of interest to inflate projected figures on any business presented to hype the video. Don't believe everything you hear on the internet. If vending machines were this profitable everyone and their mom would be doing it.
@@MH-ru8he True but the statement that everybody and their mom would be doing it is false. Everyone and their mom doesn’t have $1k-$4,500 to invest in this type of business.
@@chanyoung3725 $1-4k is not a lot of money so I'd say it's pretty attainable for most in the US. $50k maybe not, but $1-4k definitely. I mean most get tax refund checks in that amount each year.
@@MH-ru8he Well an article came out at the beginning of this year and stated that most Americans don’t even have $300 dollars saved up. I mean I get what you’re saying about the other part but everybody and their momma lacks drive so they wouldn’t even do it if someone gave them the money to start.
@@Theselfcareking You're very welcome. Thanks for the inspiration. I'm also at my mom's now after loosing a job, and it's always an inspiration to see we can find a way forward. Many blessings and continued success. :)
I stocked vending machines for a small company for 3 years. Definetly not so cut and dry. Location is a probably the biggest thing by far to worry about. He also didn't talk about the issues like expiring products and making the machine run without problems. Those can snow ball real fast. Machines don't work, no one buys stuff. No one buys stuff and you have an entire machine of expired products eating into your profit. And you can only eat so many expired Doritos and Snickers before you get sick of them haha.
he checks them regularly so the issues of expired products wouldnt actually be a thing for him. and im pretty sure machines fail occasionally, but making 300k a year with a projection to make 500k, i'd assume that it happens infrequently enough to deal with and keep going.
@@FromTheHipp Just because he checks the machines, doesn't mean they won't expire. You have to keep an eye on dates and if you notice something isn't selling, transfer it to a machine you're sure it will sell in. But thats sometimes easier said then done depending on your route and what time of day you drop by a machine. Might mean a lot of back tracking. Point is I did this for 3 years. CBS didn't cover everything and this business isn't simply easy money.
@@columbiajones1534 yeah i wasnt saying they wouldnt. im saying keeping regular tabs on this, which he made seem like was daily, lowers your chances of such things happening.
For anyone looking to get into this, please beware! 1)Vending machines are machines, and in his price break down, he never mentioned repairs, it takes a big chunk of your sales away. 2)ALSO, location, most places won't let you just walk in and place a machine down and the good locations are already leased out to other vending machine owners. 3) You are most likely going to end up buying someone else's route (a few machines in different locations) and at that point you gotta ask yourself, if it was so profitable why is that person selling it?
Good job, you've done something great. Well, even if not to be classified as that, you've made it. You always had it in you. You've escaped that financial hole most find themselves in. You took the initiative and kept going, without end
Recessions are where millionaires are created, I feel for the older generation, but if you are you or middle age, you should do everything possible to double or triple your income.
Success doesn't happen overnight. It's a marathon, not a sprint. You have to pace yourself, put in the work, and be consistent day in and day out if you want to achieve your goals.
I diversified my $25K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $450k in net profit across high dividend yield crypto in few weeks or months.
@@jakeboogey But it also might come down to how much it cost to do so too...... Just saying.... When I had my own thing cost were negatable because the profits more than made up for them....
What a great story he has to tell. Not only did he become successful, he really enjoys the success as it continues to grow and he helps his family too. Just awesome.
Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.
Thankful for every gem this guy shared on here. He gave much more info than the average trust fund baby who's just being opportunistic. For those of you speaking negatively about him, that's probably why you're not doing as well. He has every right to sell his knowledge if that's what he chooses to do. Don't they all?!
300k a year, 10% to employees? Yea, real honest. He really knows his business. He's not making 50% profit. That's a fact. He either has 1 employee he underpays or he makes maybe 60k a year at this rate.
Good for him. You really have to hustle hard in that buisness. But it’s also about location. I’d imagine getting good locations for your machines is half the battle. You also have to pay the owners of the property too.
@@achta8433 If you’re buying a machine with a location you are paying for a location partly lol . Yes businesses charge rent and take a cut. You think you can just put a vending machine wherever you please. Taking up space on their property and they don’t want a cut. Haha you are misinformed.
I wanna say thank you because I love when business owners share their tips and tricks and I’ve been interested in starting my vending machine business and I’m scared but definitely gonna do it just gotta save money now
Treasury rates are rising quickly, the markets are collapsing, inflation is skyrocketing, and the Fed is imposing a significant interest rate hike-all of which will result in further losses for portfolios this quarter. How can I take advantage of the present market volatility? I'm still undecided about whether to sell my $125,000 worth of bonds and stocks.
The strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
This warms my heart. We live in Japan where vending machines are EVERYWHERE with EVERYTHING being sold; from soup to used underwear’s. We looked into putting one at the end of our street and it wasn’t feasible because of the traffic or lack there of. It seems we’d bearly break even when they did the break down. Good job my dude.
I cannot express enough how inspiring his story is to me.......It gives me hope for my situation to keep trying to put my wife and kids in a better situation for their future and for me to feel like I'm proving myself to be a better provider for them. I don't even know Him yet I'm proud of him!!
You got this! Wisdom and intelligence for making correct choices comes with experience and time, and the more you try, the more you’ll learn and the more successful you will be. Give it time and keep trying, you’ll reach your goal one day!
@@steamyninja8881 Thank you does not even begin to express appreciation for your encouraging words!! I'm going to snapshot this to read for encouragement in times when I need lifting. Thank you so much.
Everyone needs more than their salary to be financial stable. The best thing to do with your money is to invest it rightly, because money left for saving always end up used with no returns.
No specific one really, because there are lots of investment plans and strategies littered all over the internet today, for instance, investments like real estates,gold, drop shipping crypto currency and lots more
I like how you turned your idea into something tangible and profitable. I have been thinking about this sort of business for a while but it is great to see someone actually executing it. I hope you get your Vending machine warehouse
@@noeorozco5054 locations basically. Any location that will make you money is already occupied and you're at the mercy of the surrounding buildings if you find a good spot. If one shuts down, you might as well pack and leave. Like the good location was making him 400 a week and when a nearby bank closed it was done.
i Believe this guy because he's not showing that with vending machines he's making millions and walking around with some crazy car (which most people would show) which makes him a very respectable person and a modest one.
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I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks (with the help of my Financial Advisor of course) and made about 246k, but guess what? I put it all back and traded with her again and now I'm rounding up close to a million.
Yeah! every $1 you invest today is a little bit of time that you buy back in the future, the more you invest, the more free time you can afford in the future, having time and the freedom to choose what to do are the ultimate investing goals.
The pandemic came and taught me the importance of having multiple stream of income, unfortunately having a nice paying job doesn't mean you are financial secured anymore. So we all need to put in an extra- income earning chance, like bitcoin, stocks bonds real estate .
@@charlotteoldbury2013 True! Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. The stock market has plenty of opportunities to earn which I myself took advantage of. I made my first million from going diverse, mainly ETFs(stocks, bonds etc), bitcoin , and gold. I'm also working on an investment plan that includes NFTs with my advisor, Katie . It's been a year and half of steady growth.
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So inspiring! This made me so emotional because I'm living paycheck to paycheck and have no purpose in life but seeing these type of videos really helps me with coming up with ideas to turn my life around. I always used to think that one day I'll make it and I'll be able to take care of my parents and retire them for the rest of their life for sacrificing so much for me. If you're reading this please know that this life we have is too short and precious to waste by working for a company that will replace you in a week if you happen to die. Go out there and achieve your dreams! You CAN too become financially free and live your life to the fullest!!
From nice hustle to growing business. Congratulations, Marcus, and hello from the UK. I'm currently writing my first set of entrepreneurial guides for enterprising young individuals. Vending machines figure heavily, albeit with a unique strategic twist I've added. Once you've read it, you'll never look at the vending machine industry in the same way again. Once a suitable draft is edited, I'll forward you an extract from the section in the guide discussing the 'vending machine' model. Perhaps, once you're satisfied with what you read, you'd be interested in providing some industry insights or a quote for the guide. Again, well done. Keep on keeping on, Marcus.
The thing to me is, if you invest and have other income outside of dividends then you will be able to live off dividends without selling. Which means you can pass that on to your kids which will give them a leg up in life. >
I agree! That's why it is advisable that you have to invest while you still have a regular job or earn a regular income, and do it constantly. You still need to have something that will keep you going even if you're investing. Good financial planning and money allocation are the keys.
The market is volatile at this time, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
@@jorjabertie3466, Yeah you're right, It would be more beneficial and yield more profit if you actually traded I've been trading since the dip, I've made so much profit trading, the only reason I don't feel the pains more.>
Nice video. Only issue I have with it is how much of that profit goes towards "rent" or the buildings where the vending machines are. It is highly unlikely places will let you place your vending machines in their building for free.
I hear it ranges from 5%-20% of the profit to a place, however I also read that a lot of places even let you do it free if you just keep them stocked and maintain them as want them as options for people
What a great, informative video. This Guy's humble and easy way of communicating is spot on. No wonder he is successful. Great job all around. I do wonder, does he pay rent to the location owners, or is there some kind of profit sharing? 🇺🇸
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Ideas will always stay ideas if you dont do anything with them, Just pick one and go for it. Even if you fail, you can always learn from your experience for the next one. Good Luck!
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Personally, I think people should venture into trading since the economic meltdown; having one stream of income is not a good idea cause your job doesn't secure your financial need
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I came here to learn how to trade after listening to a guy on radio talk about the importance of investing and how he made $460,000 in 4 months from $60k. Somehow this video has helped shed light on some things, but I'm confused, I'm a newbie and I'm open to ideas.
I agree with you dear, stock is the most profitable venture I ever trade in, I reached my goal of $20,000 in just weekly basis earning, setting realistic goals is an essential part of trading
I LOVE rags to riches stories, where the person has worked hard to get where they are and didn’t follow the cultural norm or get handed money to start out. WAY TO GO!!!
5.9% of every credit sale goes to the card reader company plus the $10 a month in Service fees every month, state and federal taxes, sale tax, and possible 10% commissions. In iowa we have 5 cent deposite for soda. His company might gross $300k a year he’s probably netting $30k. 21 machines at $300k a year is stupid impressive though. I grew up in this business and am 32 now. More people are getting into vending bc they see videos making this business look easy. A majority of those people get a rude awakening on how much time it takes to be successful and give up on it, losing the trust of the business or customers they had which makes it harder for the next company that takes it over to gain the trust in their machines.
I don't know if they verified this income. 21 Machines making that kind of money means he needs to restock most of his locations on a daily basis. I own 32 Vending Machines making around $200k revenue, and you are correct. When you break down the costs associated with it, the margins are nominal at best. If I make $1 in vending, 5.95% goes to Nayax, 7.5% goes to sales tax, and (my margins are pretty good) around 25-45% goes towards COGS (cost of goods sold). Take into account repairs (We have a technician we pay $15/hr.) business insurance ($225/mth), wages for 2 employees making $15hr, a van, ect, we are only taking home around 30-40% as profit.
No specific one really, because there are lots of investment plans and strategies littered all over the internet today,for instance, investments like real estates,gold, crypto currency and lots more
I love that he cares about other people. You don't need to make more than 500k a year. If you are doing well and there is room for other players to enter the business then there is no sense in hoarding industry secrets for greater profits. I am so happy that he is doing the moral thing and doing well while doing it.
the first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional.
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Success depend on the action or step you take to achieve it. Show me a man who has no investments I will tell you how soon he will go broke. Investment is building a safe Heaven for the future.
@@paulmaxwell8316 I agree with you friend investing is the key to maintaining your financial longevity and not just investment , but an investment with guaranteed profitability...
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Wow I never would have thought about this... it's really smart. I once had a boss that had his own chair and umbrella business on the beaches in Florida. That dude was bringing in about 1500 to 2000 dollars a day and had 25 beaches. He would pay his workers 75 dollars a day one per beach. This dude was a millionaire and all he did was sit on the beach everyday. I always thought he was a genius but the vending machines is a grand idea also. I love the creativity
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Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor their trade.. I will advice you to stop trading on your own it's very risky. Seek advice of a professional trader.
For every successful businessperson in vending there are so many disillusioned /failed efforts..... so yes, despite how easy he makes it look, it does take work and focus to grow a business like this. The calls, the maintenance, the restocking, the transporting, the warehousing, payroll, various insurances, vehicles, ect. And yet young dude doubled and tripled his revenue across 3 flippin states. Much respect. To grow further into the 1 to 5 mil range is going to require decentralized organization that may be somewhat uncomfortable but I'm sure he'll adjust.
Take a look at Japanese Vending machines. They are so cool and popular that they are a Tourist Attraction.. Hot Coffee in a can, Cold snacks, Pizza, Ramen.. You name it. If america would step up to that, many of these small guy machine operators could make tons of money. With those machines and proper locations 1- 5 mil would be very doable. They have a spot that has over 100 machines in a single place with everything form "burgers to umbrellas" "Vending Machine Extravaganza in JAPAN: Over 100 Machines Selling Everything from Burger to Umbrella" /watch?v=nyl-RDs-IC0
As a route salesman for a Dallas/Ft. Worth vending company, I was filling the Coke machine in the Parkland Hospital cafeteria about a half hour before the motorcade rolled in. I was planning to stay and have lunch but the Thursday special was liver and onions, and I NEVER order organ meat in a hospital cafeteria. If roast chicken had been the special, I would have been there when Kennedy arrived. By the way, I had filled the Coke machine in the lunchroom of the Texas School Book Depository that morning. That means that if the conspiracy theorists are correct and Lee Harvey Oswald was indeed in the cafeteria drinking a Coke moments after the assassination, it was placed in the machine by Yours Truly. This gets better. The company I worked for was closed on Friday, in observance of the national tragedy, so over the weekend, I had to make up the stops I didn't get to - including the Dallas Police Headquarters. I had just pulled my truck into the parking garage on Sunday when I spotted one of my regular customers, Jack Ruby -owner of the Carousel Nightclub where we had a couple of machines. He waved to me as I drove past. He was on his way on foot to somewhere in the garage.
Never understand why they always talk about how much they “made/grossed”. The only thing I care about is how much “Net” profit there was. Big difference between the two!
I’m glad I pulled through, despite the crises. I am retiring next yr at 55 with 3 houses paid off worth 4.5 million. One is my place of residence the other 2 properties will give me $80,000per/yr rent . I will have an income stream of $20,000 per mnth through my super which gives me total $240,000 a yr to live comfortably. I have no debts ... Stay Motivated!!
It seems like everyone I've ever met or seen talk about having a vending machine business say these videos really skew the reality. All kinds of issues getting space and maintaining machines, plus it being a very demanding job, not passive at all. This guy hustling so good for him.
When he broke down the numbers, it seems like he skipped the renting and how much it costs, unless he managed somehow to put his vending machines wherever his want for free, wich seems unlikely; Other than that, kudos my friend!
My old job didn't charge rent. Because the vending machine was doing us a favor since we didn't have to provide employees with catered meals anymore. Cheap lol
I wonder how much of this Is actual profit aka after paying off all the expenses like buying the soda/snacks, annual maintenance, and paying his employees. EDIT: He said that only 50% of revenue is profit.
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I'd be retiring soon as i'm working less now. I'm only curious how other people split their pay, how much of it goes into savings or investments?? I earn some few pounds yearly but nothing to show for it.
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I didn’t watch the whole video, but $300k per year in revenue sounds great, until you start subtracting taxes, labor, supplies, etc. Probably walks away with $75 or $80k.
In the video he said he has 21 machines. Let's do the math, $300,000 last year and $500,000 projected for this year divided by 21 machines means his average machine is making $14,000-$23,000 a year. That's $1,167 to $2000 per month PER MACHINE. I just did a quick google search asking what the average vending machine nets per month and multiple vending machine sites state $300-600 a month with some stating on the low end it's about $40 a week. In fact, one vending site says a person would need 75-100 machines to pull the numbers he's claiming. Sooo, either this guy has figured out how to mine gold with his vending machines or this video is telling us crap. Keep in mind that this video was posted by a site who's sole business plan is to generate views and clicks by ideas of making it rich so there's an inherent conflict of interest to inflate projected figures on any business presented to hype the video. Don't believe everything you hear on the internet. If vending machines were this profitable everyone and their mom would be doing it.
Your Thinking is Shallow It Needs to be More Complicated Starting With How Your Source is Calculated Average And Besides Its Probably a Poor Case Study Anyways
Location, location, location. He started by saying that's the most important thing in the whole business. Your average internet numbers aren't the peak of what you can earn if you can pick the right spots.
