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NEW! Is Now the Right Time to Buy Gumball/Candy Machines for Passive Income?
Vending Millionaire? How Much Can I Make?
8 Ways to Pay For Your Vending Machines
Power Tips I Used to Locate 100 Machines in the last Year
Will I Need
Business Insurance?
Use your Home as a
Bank to Pay for Machines
How
Much Time will it take?
Optimum Route
Size
Figuring Your Cost Per Vend for Higher Profits
Quick Ways to Increase Sales, 1
Quick Ways to Increase Sales, 2
What Can I Sell in My Machines?
Hard to Vend Items
5 Things to think about Before Buying Machines
What Type Machines are Best?
What about Vending Locator Services?
Investing Your Tax Refund
Talking to Bankers
The Real Costs of Running a Vending Business
Grow the Person, Grow the Business
Great Business Reading
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Vending Millionaires???
How Much Can You Make
in Vending?
Ever hear the
promises of vending machines making $100-$150 an hour and
collecting thousands in a PART-TIME home based business?
This is technically possible as I am doing this right now, but this
statement can be misleading especially when someone is
trying to sell you machines. Vending
can be profitable if done correctly through making a number of right
choices to build your business.
It will unlikely make you a millionaire
unless you develop additional investing skills and multiply your profits. Let's keep it
realistic! The question is not, "How quick will vending make
me a millionaire," but "am I willing to work and build a
real business with good cash flow?"
First of all, a handful
of machines is not going to make thousands of dollars per
collection. You need to understand some of your machines will likely
have $5 in them after setting there for weeks and weeks. Some will
have 50 cents. A few may have $100.
A good rule of thumb in your
accounts is to use the "Pareto Principle". 20% of your machines will
produce the majority of your income
while the other 80% will contain the balance of your income - good
"bread and butter" accounts with a few which will need to placed at
a different location because of low numbers.
Vending is a game of
numbers. You keep re-deploying your assets (Vending Machines) to
make you greater profit per location. You change
product. You change locations. You double the machines
to add candy with the gumballs. You remove the machine and get a
better account. And so on, and so on.
According to Robert Kiyosaki,
author of Rich Dad, Poor Dad, an asset is something that puts money
in your pocket. For your vending machine to function as an income-producing
asset, it must be in a business making money. Keep re-deploying that
asset until it is making you a good return.
While it is possible to gain those high
numbers, what most sellers of machines don't tell you is that you probably
need 70-100 or more machines to POSSIBLY get those numbers ($1,000 a
day). And then, that's only ONE COLLECTION in a 4-8 week
period. You have to wait another collection cycle to get those
numbers again or buy another 100 machines. Get the
picture?
What is the solution? Build a company by continually
adding machines and increasing your cash flow year over year. "Get
rich quick" is not a phrase which should be associated with vending.
Vending done properly with a good work ethic will produce a good
income for you in the confines of a flexible schedule.
It can be an awesome home-based
business.
Mark Evants
(C) Christmark Enterprises,
LLC.
DISCLAIMER: This article is not a personal
recommendation to start a vending business or buy machines. This
article is not investment advice. Always use professional help
such as accountants and attorneys when investing in ANY area including
vending.
SEE ALSO:
Financing
Your Vending Business
Will I Need
Business Insurance?
Quick
Ways to Increase Vending Sales
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