Vending Millionaires? How Much Can You Really Make?
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.
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