Great content in your channel, I’m 53 and my wife and I reached $1M net worth in 2017, five years later it’s $2.4M. Our yearly salary is a little over $100K. We drive older cars, cook at home, eat leftovers, and have 2 in college. We saved for college and our boys help by working. They will graduate debt free.
Right there with you. I'm retiring early, no debt. Kids are taken care of. Building my dream home on 11 acres, looking over the river valley. there are loads of ways to make a killing right now, but such high-volume near impeccable tradess can only be carried out by real-time experts.
@@marianparker7502 That right, I started investing sometime in 2018 and by late 2021, I pulled out a profit of over $750,000 with no prior investing knowledge or skill, I was basically just following the guidelines set by my financial advisor, so you don't necessarily need to be a perfect investor or do the hard works, just have a professional who guides & mentors you.
@@PhilipMurray251 I read inflation is closer to 10% but as we know it's definitely way more than the media would like to admit, my plan to earn more passively and ride this out, can you investment-advisor assist?
@@wiebeplatt4749 Sure, the investment-advisor that guides me is Susan Agnes Hancock, she's popular and has quite a following, so it shouldn't be a hassle to find her, just search her
@@PhilipMurray251 Thanks, her website popped up on the first page immediately I searched her, I read through her resume and seems pretty tight, so I booked a call to discuss with her.
He said "passive enough" not passive, meaning it required a relatively low level of effort (i.e. sustainable while working full-time) to build the business.
I know an older guy that did venting machines for over 20+ years. He ran it basically by himself but hired 2-3 people to help later on. He told me he made a killing back in the day from schools just from candy sales.
It's fascinating to hear that someone here also employ madam Christine's services. She has been managing my investment so well and my weekly return are mind blowing
@@ericalorraine7943i just lookup her name and found her accreditation, qualifications on FINRA and SEC, she seems really solid. I already leave her a mail on her webpage🙏
This isn't 'passive', he started a business and very much still works and manages operations. There are a lot of start up costs and running costs to consider also.
Wat type of earned income doesn't involve any type of labor or hustle into it? Whether in real estate u still gotta work with your team to make it work to become passive.
The passive part is he's not there in person trying to sell people candy and drinks. The machine attracts the customers because candy and drinks are already in demand and will always will be in demand. Every new business has some sort of cost weather is starting car wash service etc you'll need to invest in suppiles, and if its reselling garage sale items you'll need some money to buy those items. Thats why you have a regular job to fund your new business idea. On your spare time work on your side hustle until it'll it make twice the money as your regular job you might think of quiting your regular job. It can be any job like fast food, stocking products it doesn't master. When starting a new business , do not put your eggs all in one basket. Do your research and look at all the cons and postives. All business require some type of work whether it's physical or technical on your phone or laptop. The work is maintaining or growing your business or handling problems your business may encounter. Passive incomes sort of like a laundry mat or vending machine business aren't just magically handed to you it first requires some work for most part but if you really looking for a real passive income all you only need is an bank account and being an affiliate for a big company or business. They'll pay you to promote there products or service. To do this simply go on any business site or company and look for there affiliate sign up page. Where you can easliy sign up with your information. And they'll give you the links, or coupon code you can share with your ig or tiktok Follow or friends, and family. This is a real passive income because you dont have ship products or nothing. But just promote product, or service. Fashion nova for example does this but there are also smaller brands on shopify, and woocommerce. A store that does this is Barber Jungle.
It actually is. He’s making money by not having to be there. Just like having rental properties. They have start up cost and have to maintain the property as well. It’s still a Business. Passive income is when making money from a side hustle or small business when you don’t have to work or lil to no work. Everything is going to have their own problems.
Not passive! You need to buy the machines, arrange a location, install the machine and refill it as needed. You have to repair and replace broken machines. And, to make good money, you need to create a route to empty and refill the machines. You need to keep records of what machines are making money and which ones need to be moved. You also have to keep records for the IRS and pay related small businesses taxes. If you get lucky and are able to set up a good route, you may do well. Depends on how good you are at selling people on the idea of letting you set up a machine and how much they want to let you use the spot. You better have a truck and a hand cart to move machines. You need to sell a whole darned lot of candy bars to recover your startup cost. You are working for free until you recover the cost to you of buying and maintaining your route while you recover your investment which also includes the cost of wear and tear on your truck. It may be a good job for you if you can afford to buy a job. If it were an easy way to make passive income, everyone would already be doing it.
OMG yes you nailed it! Thank you for being the first person here to make an honest, sensible, practical real world comment. You've obviously done or are doing this type of work, and you're absolutely correct that there's nothing passive about it. And you bet, everyone would be doing this if it really was passive and so easy as it's made out to be.
Right, it's not purely passive income, it's a lot of elbow grease that goes into it. Especially in the beginning, as all new business ventures tend to go. But people who have an understanding of investing won't be ran off by the work and all the paperwork as long as they can see the overall vision. When dude said his gumball machines were bringing in as much as he was making from work, and he was only spending a few hours a week to maintain them... I feel like THAT'S the main point. You're maintaining these machines SO that they can generate income in your absence, which is a lot more like passive income than working. And since this side hustle/business is absolutely working for plenty of people, why discourage others from doing it? It's a lot of money to be made outside of your own (and other's) fears and limitations.
He specifically said it's passive ENOUGH. Then he said it's more passive than his regular job. He added that it is hard for people just starting out bc they will need help with resources so he developed an app to make things easier. Did yall listen to him at all?? In a way, I'm glad for the way he's being criticized bc there's a lot of free knowledge in these comments. I've seen other videos of vending machine owners with comments from ppl just asking questions or saying "great job, keep it up". Very interesting phenomenon.
The sole secret of making steady profit is simple; .GET IN WITH THE RIGHT APPROACH You don't expect your first attempt to raise huge profits as a newbies due to social media hype. . Take your time and search for a trustworthy professional and keep up with their signals
Shes got the best rating I've seen. Not only in paper but in one-on-one interaction. Steady weekly gains is really possible and available to all despite been new or without experience...you just have to lookout for Highly rated experts and keep up with their trades... Becky is definitely no.1 on the list!!!
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before expenses and taxes. Maybe $250 of that is actual profit. Gonna need quite a few machines, which will incur more, costs and time to be a viable profitable business,
@@theov.6919 You have to drive there, and drive back to home. That is gas, wear and tear on your car, your time. Have to purchase new items to place in the machine, shipping costs for that, time to order, receive, inventory items. Place them in the machine, remove items that aren't selling. Then gotta pay for maintenance when the time comes. Lot more than minutes a day my friend. Lot more.
@@jonbennett62 Still 250€ are about equal to 20h/month in a regular job. I guess that a single machine, located close to you, would need a similar workload but in the end it's a side hustle and you're your own boss. As I said: easy money for a student e.g.
All passive ventures need you to put in work at first! It is passive because it's making money while he's not there. That's what passive is....he doesn't have to be there for it to generate money, he basically has to maintain it after initial setup.
"he doesn't have to be there for it to generate money" Generally speaking, passive income is one in which the owner or investor is not actively involved. An example of this is investing in dividend paying stocks. You buy a stock, and the company automatically pays out a dividend at a certain time. I don't consider making money from a vending machine business as passive income, because an owner has to purchase goods, drive to the locations, restock the merchandise, and maintain the machines on a regular basis. If he doesn't do one of these things, he won't generate any income. There is too much ongoing efforts involved to be considered "passive".
Nice content! The best way to find that balance between saving and living is by investing, this way you get to have your savings intact and then live comfortably of the revenue coming in from your investments.
Working with Romero pieto is the best thing that can happen to a beginner trader who is aspiring to be fruitful out of the market he is trustworthy and straightforward we surely need more men like him in trading world.
He's a smart cookie. I guess I should get the one I have just sitting covered out and put it to work. Someone gave it to me awhile back. $s just waiting to be made. Many blessings to the Vending Biz man for the reminder.
@@DoctorRickSanchez Likely next X-Mas. My mother passed in Jan., I have 4 other properties to now see to and inventory of antiques to sort. My plate is beyond full and I don't feel like adding more to it : / I've felt no energy to really tackle it, but I better bc it is not going to sort itself. Seeing your mother leave this life is an inexplicable event. God help me 😪
@@lmc2375 _Yeah but look at it like this... It's not going to make a difference if you start now or next Christmas since vending machine snack prices don't really inflate like store bought items. I understand about losing a family member the grieving process takes a huge toll on someone mentally & will stop you physically from getting stuff completed, going to work, errands etc. Condolences for you mother stay up✊️goodluck with your business & don't give up._
@@DoctorRickSanchez Thank you. Still upright, still working, doing more thinking and pondering all the great pics I've shot since she left. I think those pics, that "keep happening" have somehow sheltered me from the full reality that she is gone. They've been a gift - as if, she's still out there, nearby. Unusual things that are inexplicable beyond just a knowing. I recently had an inquiry from europe, asking to purchase a couple of my shots. I need to find what exactly they intend to publish them in, etc. Something else to do. Thank you for the kind words 😊
At this point after watching these Vending Machine videos , I have come to the conclusion that everyone has a different experience. Those that are successful, better locations, types of machines in my opinion is the key.
I wish these guys would specify gross vs net income. Is that before or after expenses? Without knowing that, we have no idea how his business is actually doing.
Search vending bizz on Apple store. It's there with many negative comments about paying for information that's easily found online, plus app crashing and generally trash. It appears it used to be available in the Google play store but no longer.
I worked in the vending business in Southern California and my route was from the border of Mexico all the way into Orange County. I had to get up early 4:00 am to load the truck and get on the road. The amount of time and effort to load these machines is not passive income. Now, I did have some video game machines in bars and as long as the machines were working, that was more like passive income because it required less effort to maintain the machines because there was no inventory to load. Just letting those who want to start this business know there is a lot of work required.
This is not passive income. He’s still having to put in hours. This is EARNED INCOME. Please update! If you have to manage, coordinate or work on deals, you are earning income. Real estate syndications as a passive investor and earning cash flow = passive income!
I would love to see him start to hire people to do the machine stocking. I bet he could find enough work for someone to work full time at an hourly rate and be able to keep adding machines. I bet if he doubled his machines and added 2 people to his staff, he would see a massive increase in revenue.
This is a good idea. I make my money from being a janitor by day and trading stock in my spare time. My first bit of money was being an early investor in Bitcoin. When I bought mine they were worthless. I bought 100k for $100 in 2010. Now I live down the street from Independence Hall in Philadelphia. When you see a start up that you really believe in, don't be afraid to invest!
@@jeremiahdickson569 always love how people like yourself choose to focus on criticism. it speaks a lot to your character. yes, I do believe having a resource, such as an app (fee based or not) is in fact giving back. giving novice entrepreneurs and wannabe business owners a resource to guide them through the process is invaluable. as mentioned, he had no one to turn to on his journey. next guy in line will be that much better off for this. have a good one
@@seanc1898 Because I asked you a question you question my character and I'm the bad person? I have been in this business going on 2 decades and the way he tells about the business is very misleading and will lead to people loosing money because he says he makes 3k a month from one machine.
@@jeremiahdickson569 bad person maybe not, but yes on character. you went straight to the critical. wasted (and negative) energy in my books. you didn't identify your own knowledge and acumen, you questioned the veracity of my statement. knowing now that you're in the business and have experience, I have more trust and understanding in where you're coming from. you would be the ideal person to set the record straight and let people know that this is a very unique situation and to be aware. having said that, he clearly indicates getting a few hundred from some of his machines. is he inflating or lying? very possible. do your part to set the record straight on your experiences then. that would be invaluable as well. hope you get what im trying to say. peace 🙏
@@seanc1898 I mentioned in another comment on here but I will repeat it here since asked. He keeps saying "makes" x amount. Most employees are going to look at that like the amount they get on their paycheck but it's not. It's gross sales. Over the long hual you can only pay yourself in the 10-15% of gross sales of a vending business (meaning you do this as a living). If it's truly a side hustle that you never want to grow bigger than the stop or two that you haveand you never plan on replacing or upgrading the equipment then you might be able to get that up to the 30-35% range. Since I own a vending business and not a side hustle, if I want to make $200 a day I need to deliver $1500-2000 worth of drinks and chips. So to profit $1000 a week I need to sell $7500-10000 a week. I don't think anyone realizes how many bags of chips that is and how far from "passive" that income is.
This is one of my intentions when I get my tax returns. Do u have any specific companies u would recommend purchasing machines with?? What’s the name of the app??
As of right now I’m trying to save up some money myself to get this going I’ve joined groups to kinda help me find things to be sell just to get the money and I’ll jump in the Amazon to try to get that money up so I can get a couple of machines going
It is not an easy business. I tried it for awhile, some locations are good. Some candies don't sell well at some locations so have to be moved to anothrt location before getting old. People try to steal from machines using different gadgets to pull candy down etc. The machines are not that easy to move either. Customers not so easy to please. If you get some good locations you may do well. Some states require a food license too.
Hi , it’s wonderful that you shared your business in this channel, I just wannna know what is that app to get the locations which are available for vending machine installation
You would have to either own a truck and a dolly or hire somebody to get the machines to where they need to be I assume. Near the end of the video it was said that maybe in the beginning when you're just getting off the ground, you'd tempt business owners with a small commission, but if you play your cards right and get your name out there eventually businesses may come to you asking for vending machines at their locations.
@@dustindouglas9912 I've always wanted to get into the vending machine business but I get overwhelmed easily just by not knowing how to start. I've looked at prices of purchasing a vending machine but then there's the products and finding a location. I picture myself doing it and it seems like it would be hard. I'm a 5'2 female and if you took one look at me, you'd know I need help moving the machines. Every time I've seen someone servicing a vending machine, it's a a big strong guy. 😞
@@KhadiB if he's talking about the machines in the stores, the charger is inside of the machine, no way you can steal it. you lock your phone in the case (password protected) and let it charge while you look around the store or whatever
the real question is 16000 as income but from that money goes commission, rent that location or money to buy new stuff and so on: so what is really there after a month?
@@mujeebghafari11 Passive income doesn’t require ‘no work’. Passive income is putting work in initially and then receiving income on the returns for a timeframe without requiring further work or effort. You named one example. Another would be royalties from content. Savings interest. Housing rental income. There are several. The video is about as far from ‘passive’ as you can get. The guy is refilling the machines- he doesn’t make income if he doesn’t do that. So how is that passive? If I work in a supermarket refilling the shelves all day, is that also passive with that logic?
Vending machines are not passive income. Its a business that u work be it a little or a lot. Truly passive income is like owning a stock with a dividend. It pays u, with zero work input...
How is this considered passive income when he has to figure out where to buy the snacks, purchase them, load them all up then physically distribute them to all his machines? That's hard work, the back and forth with heavy boxes and racks of soda, loading and unloading, filling the machines, etc. A couple hours a week? For 20 machines? And he's doing this all with just a small car? Something's not adding up.
Probably his full time job now. How hard is it to load up a vending machine? You could hire employees to do it for you. It's passive in the sense you aren't clocking in and out.
@@R_00N Passive income is earnings derived from things like rental property, royalties from a book, stock dividends, licensing a patent, designing an app or website and much more, in which a person is not actively involved or no longer involved. It's got nothing to do with clocking in or out. And unless you've hauled stacks of cases of snacks and soda (or similar) back and forth for a living, you would know it definitely can be hard work.
@@terised I actually have done it, that was a rhetorical question. I had a route for Pepsi out of a box truck. It was an easy job but then again I'm in good shape. The hardest part was the driving.
@@R_00N LOL it was the opposite for me... loved the driving but loading and unloading all day long, in and out, back and forth, rinse, repeat was exhausting
What higher margin items can get sold in a vending machine? Any ideas on non-food items to include? I heard Fastenall is now putting vending machines in their customer's facilities selling stuff like nuts and bolts
This homeboy barely known how to fill a machine the video was well made but I know he's an amateur teaching other amateur but the hustle and the way he does it I respect it but as a fellow vendor I can't he barely knows enough.
Do you need a business permit to be on other business properties? I mean what are the requirements? I got the money and the drive just need the education
Passive income is such a trendy phrase now that it gets mentioned everywhere. This isn't passive income. He has to do significant amounts of work to maintain the business. You film him doing the work! 😂
Hey is this legal, like you don’t need any paperwork or permission or business license to put those machine there ? Idk how this all work cause i’m not in the us
