@@kidlo2050 I am a foster kid with no family and help so I have learnt to be an adult since I was like 12 years old, so I taught myself to hustle at a young age.
Being an entrepreneur is not easy guys but don't be discouraged. Here's good points. 1. Solve a problem and offer a better solution. So dont think of an idea. Think of a problem to solve. This is very important. 2. Go after niche markets that you can dominate and once you enter have majority of market share, you offer a better solution to your specific group of customers. 3. If you don't have large reserves of money it will be hard to compete in mature markets. So target fast growing markets or find a way to offer a differentiated solution So live in the future and build something you really want and it solves a problem. And have mindset and visualization where you want to be do this daily. You have to read: Think and grow rich, and 7 habits of highly effective people, and zero to one.
You forgot the number 1 marker for success is to have a rich family. Okay you don’t have that, no problem, next best thing is complete your education, work in a sector for at least a decade, and then pursue a startup. That is the most reliable way to identify what even is a problem needed to be solved by your business. There is no fast track for regular people.
LMAO, in every place I've worked at that had vending machines the vending machine owner either gave the store part of the money made or paid a flat fee. no one is going to let you place a machine in their store for free and use their electricity ;) I worked at a Pizza hut and have a company that put in gum/candy and prize machines in the lobby and they gave us 25% of the money earned
Lol yes they will if you convince them that having snacks and drinks in their place will give them more business. Because it will. 25% of profits is absurd and putting a vending machine in a place that already sells food and drinks is moronic.
I say it depends on who you're selling to at that location. If you're selling to employees (offices, lunch break rooms, ect) then you have a better chance to place for free since you're benefiting the business. If you're selling to their customers mostly (apt complex pools, high schools, ect) then now you're benefiting off their foot traffic/network and would make more sense to charge you something.
Is it worth it to buy a refurbished machine online from a larger manufacturer? Thinking sales would be higher with cc readers and the machine would be more reliable. It’d be my first machine and idk much about maintenance and repairs. Thanks!
Little bit late I got 3 machines 3 months ago. All used around 5k to 6k one broke lost more money paying rent where its stored. Personally still not made a profit😅 (I am 17)
I have a building on my property that used to be an old gas station, so rent and location are already set. Plus, I live on a hwy. I've been thinking about buying all sorts of machines for multiple different convenience items
Please share with me information regarding the placement of vending machines in California state agency locations, such as dmvs, unemployment offices, fire stations period etc..
First is asking for a spot and THEN you get the machine…. Second it’s very rare to get a business that doesn’t charge you cuz the way they see it is you’re making money off of their business at no cost so best believe they gonna ask for a percentage and that’s where you negotiate…. No more than 20 percent but start off by saying 10
Not passive you have to go at least once a week to fill it up. My dad omened a vending business and hated when people said it was passive. He had around 100 machines and had to work at least 2 full 8 hour days a week
@@Bravo_05 Because nobody will let you put it for free, it's not a convenience for any business nowadays... And if you really have a high-traffic machine it means 1-2 times per day refill meaning constant expenses and the profit margin after the price of the items is not great enough to justify constant visits (gas), repairs, the price of the location and your personal time
@@ummwhatever1913 Passive income means there is not labor required to make the income. If a vendor services the machines and sends you the profits, that would be passive. The need to stock the machines means it is active although part time income. Just because people put money in the machines when the owner is not there does not make it passive. If the machine is not restocked, there is no income.
@shrapnil Managing an income source by doing the books and making long term investments of time would be passive. Needing to stock the machines to be able to make sales makes it an active income. If you don't stock the machines, not income. The machines would provide passive sales because the sales are unattended.
Not good advice to pretend to be someone who donates to a charity. Even if you donate 15% it's still not good if you are doing it for a business and not for charity. That's not honest.
The first thing you’d want to do is find and secure a location, then order your vending machine.
Nah first things get 1k
First Thing You Wanna Do Is Get A Licensee
@@kingace5843 Do we need license for placing vending machine in public places??
@@designershustles yea I think you do I’m not sure what kind but you could always looks it up
@@designershustles only if it provides hot food or open cup beverages. basically anything that needs tending to other than stocking
The first thing you should do is find and secure a GOOD location, where it'll be heavy foot traffic
I’m 17 and I got one for 800 and just have to move my first machine to a spot this week.
Man you a real hustler I didn't have 800 dollars until I was 18 because I wasn't old enough to work and people independent where I lives.
@@kidlo2050 I am a foster kid with no family and help so I have learnt to be an adult since I was like 12 years old, so I taught myself to hustle at a young age.
@@FosterVoice Keep doing you.💯
@@FosterVoice wishing you all the best!
@@AnnaAmori9 Thxs
Being an entrepreneur is not easy guys but don't be discouraged. Here's good points.
1. Solve a problem and offer a better solution. So dont think of an idea. Think of a problem to solve. This is very important.
2. Go after niche markets that you can dominate and once you enter have majority of market share, you offer a better solution to your specific group of customers.
3. If you don't have large reserves of money it will be hard to compete in mature markets. So target fast growing markets or find a way to offer a differentiated solution
So live in the future and build something you really want and it solves a problem.
And have mindset and visualization where you want to be do this daily. You have to read: Think and grow rich, and 7 habits of highly effective people, and zero to one.
You forgot the number 1 marker for success is to have a rich family.
Okay you don’t have that, no problem, next best thing is complete your education, work in a sector for at least a decade, and then pursue a startup. That is the most reliable way to identify what even is a problem needed to be solved by your business.
There is no fast track for regular people.
Once the business gets going it’ll be SLAPPIN
LMAO, in every place I've worked at that had vending machines the vending machine owner either gave the store part of the money made or paid a flat fee. no one is going to let you place a machine in their store for free and use their electricity ;) I worked at a Pizza hut and have a company that put in gum/candy and prize machines in the lobby and they gave us 25% of the money earned
Lol yes they will if you convince them that having snacks and drinks in their place will give them more business. Because it will. 25% of profits is absurd and putting a vending machine in a place that already sells food and drinks is moronic.
@@XxNightmare128xX Friend: "hey you wanna go to x?"
Me: "nah, let's go to y, they have a soda machine"
How often do you think that happens?
I’ve got a location for free. Depends on your network and the type of business owner you’re dealing with.
companies with large numbers of staff will happily let you place one for free in their canteens
I say it depends on who you're selling to at that location. If you're selling to employees (offices, lunch break rooms, ect) then you have a better chance to place for free since you're benefiting the business.
If you're selling to their customers mostly (apt complex pools, high schools, ect) then now you're benefiting off their foot traffic/network and would make more sense to charge you something.
Good advice! Thanks for the video.
Is it worth it to buy a refurbished machine online from a larger manufacturer? Thinking sales would be higher with cc readers and the machine would be more reliable. It’d be my first machine and idk much about maintenance and repairs. Thanks!
Yes. That's exactly what you should do. I'm getting ready to get into this business. And I'm buying a refurbished machine too
@@hollyo.7651Any updates?
@@hollyo.7651did you open an LLC?
Put a apple pay on it
Little bit late I got 3 machines 3 months ago. All used around 5k to 6k one broke lost more money paying rent where its stored. Personally still not made a profit😅 (I am 17)
I have a building on my property that used to be an old gas station, so rent and location are already set. Plus, I live on a hwy. I've been thinking about buying all sorts of machines for multiple different convenience items
Sorry I didn't get.. what I can say stores to keep my machine. How much commission we should give or any way to overcome that
What about insurance,
Repair fees
And Taxes
Taxes depends on state.
What's insurance for? if someone breaks the machine?
Our break room was always so poorly stocked I called the owner and had him remove both of them. I'm sure someone got roasted for that.
I like the way you think!
Please share with me information regarding the placement of vending machines in California state agency locations, such as dmvs, unemployment offices, fire stations period etc..
Hi Thank you for advice I like your ideas
Just find trailer put them inside ..all most any place u want to put them....
Do you need a permit or anything?
Before I order your vendor contact, how much does she or he charge? Or how much did you pay for the machine? If you don’t mind me asking.
Nice
Thanks
Don’t you need a location before buying? Also, need an LLC and insurance right?
🙏🙏 thank you
Smart
They still don't have UPI 😂
What about Electrecity for the machine who pays for that ?
So businesses let you use their electricity for free ???
Where tf are you getting a machine for 500
There’s a bunch on my local market place right now for under $1000
@@brianwaterman89where you at?
How do you commute this machine about?
Which state is this in where you operate
I do %10 of all earned. It covers electricity and paying them a lil better than the zero guys lol.
Did you have to open an LLC? Can you describe the process I’m thinking to buy one myself
How much does it make?
How many years i must have and its legal?
First is asking for a spot and THEN you get the machine…. Second it’s very rare to get a business that doesn’t charge you cuz the way they see it is you’re making money off of their business at no cost so best believe they gonna ask for a percentage and that’s where you negotiate…. No more than 20 percent but start off by saying 10
what about the electricity?
First. I need a location
Do I need a license?
Depends on where you live
Where do you live
JESUS LOVES YOU SO MUCH MORE THEN YOU COULD EVER IMAGINE REPENT AND LIVE FOR GOD DO IT BEFOR ITS TO LATE❤❤❤
Amen thank you Lord Jesus Christ is our Father🙏🥰🥹♥️🙏
When is it too late?
Cant even spell church right🤦♂️
So the business pays for electricity and get nothing out of it
It not cost that much electricity.
Those that accept to let u place it for free probably don't care because they know they will gain from it, but most places will want a rent
Do you need to get any type of license?
None really for taxs it best to file for a llc. If u do though a personal they can help u. My hubby was only 210.
Not passive you have to go at least once a week to fill it up. My dad omened a vending business and hated when people said it was passive. He had around 100 machines and had to work at least 2 full 8 hour days a week
Better than a 9 to 5 job
But how much did he make a month
if they all made $500 a month profit thats $50k a month, I got machines that make more then $500 so he's probably making atleast $30k
@@wareontopthat’s cap
@@wareontopdo you still got the vending Machine ?
The first thing to do is not to get the business.... 😂
Why?
@@Bravo_05 Because nobody will let you put it for free, it's not a convenience for any business nowadays... And if you really have a high-traffic machine it means 1-2 times per day refill meaning constant expenses and the profit margin after the price of the items is not great enough to justify constant visits (gas), repairs, the price of the location and your personal time
@@konstantinos4395just don’t be lazy
@@piggygamer9331 its not about laziness, profit margin is too low...you can profit less than 50 cents per product, so calculate now
@@wewillnotbebrokenright
What about taxes?
Same as if you were self-employed
Vending machines are not passive income. They require a lot of physical work.
It’s passive once You received profit, money back from purchasing the machine and snacks/drinks, than it’s passive. Shouldn’t be a main income!
@@ummwhatever1913 Passive income means there is not labor required to make the income. If a vendor services the machines and sends you the profits, that would be passive. The need to stock the machines means it is active although part time income. Just because people put money in the machines when the owner is not there does not make it passive. If the machine is not restocked, there is no income.
@shrapnil Managing an income source by doing the books and making long term investments of time would be passive. Needing to stock the machines to be able to make sales makes it an active income. If you don't stock the machines, not income. The machines would provide passive sales because the sales are unattended.
What are good places to start asking businesses? Also do you think bubble gum machines are good?
Bubble gum machine got the highest profit margin out of any snacks
Don’t do it!!!!
Why?
Do we pay tax??
I was wondering the same myself. Most likely yes but let's see what he says.
It depends on the income you generate from it, if it gets above the basic threshold limit then yeah
But how about paperwork? That needs to be done
What paperwork like the taxes?
@@user-il8ku2xc9z Taxes, licenses as such
This sounds sketchy af
No one talks about to move the machines from point A to B. Booooo
Rent a U-Haul
@@tjb8158exactly
Rent pro movers
Not good advice to pretend to be someone who donates to a charity. Even if you donate 15% it's still not good if you are doing it for a business and not for charity. That's not honest.
Don't be a nice guy. They always finish last. Welcome to the real world friend 😂😂😂
Wow not giving the vendor who lets u put the vending machine at their place nothing that’s disgusting 🤬🤬🤬🤬
Thumbs down for the watermark
That's a dumb idea.
Why?
why
Why?
Why
Why?
Dude with a lisp makes a TikTok about selling vendor machines lol 😂😂😂
Before I order your vendor contact, how much does she or he charge? Or how much did you pay for the machine? If you don’t mind me asking.