As a vendor myself, one MAJOR thing to keep in mind. Always Always A L W A Y S check your quarters for rare ones. We have found several very rare ones on a couple of our collections already. Not a lot of people use quarters and many of those that do, don't check the value. We have found 3 bicentennial quarters and a couple with rare printing press marks. A couple of these are worth between $100-$200 per quarter!
Hey Neighbor, we are about an hour down the road in the Greenville SC area!! We are just starting in vending as well. We do our first collection this coming Saturday. Don’t know if you know it or not, but on the coin star machine you can choose an e-gift card. There is no fee if you choose the e-gift card option. You could choose Amazon and use those to buy more product. Just a thought.
@@WesleyAllenNC thats exactly why i buy used! but hey whatever works for you. & yea apts are great in the summer ! i cant wait until summer because im going hard winter!!
Hey man! I have a ton a questions as I am soon getting into vending machines in texas. Would love to get some help and find out how to run this thing! Is there any way I could connect to you and ask a few questions? Would help alot
Hey Brandi. I file quarterly Sales & Use tax with he NC Department of Revenue. They only tax half of my gross receipts. And I don't pay any sales tax when I purchase my goods. Just ask Sams about applying for a "Certificate of Exemption". They'll link a tax free option to your Sams card. This way you aren't paying sales tax upfront.. Essentially your charging the customer tax and collecting it on behalf of the NCDOR, then paying it to them quarterly. Keeps you from paying taxes on unsold or expired products..
@@itsjordanfitzsimmonsthe IRS expects that tax is built into your pricing. If you apply for a certificate of exemption with your local Costco or Sam’s (see front desk) they will allow you to purchase your resale snacks and drinks with zero sales tax. This way your not paying tax upfront AND when you report your earning (lookup “sales and use tax” that’s what I pay quarterly)
@@WesleyAllenNC the main one that I’m still confused with is how do I pay the taxes? Do I go to a certain type of website or call the IRS? And also what is the best way to find locations? Thank you for responding !
@@WesleyAllenNC Perfect thank you! Do you get the certificate of exemption through the NCDOR, if so how do you do that? Also, you said that you don't pay sales tax when you purchase items, how do you use your certificate of exemption?
That’s a personal decision, but I think it’s wise to form one. It allows you to keep your personal finances legally separate from your businesses in the event of a lawsuit among other things
As a vendor myself, one MAJOR thing to keep in mind. Always Always A L W A Y S check your quarters for rare ones. We have found several very rare ones on a couple of our collections already. Not a lot of people use quarters and many of those that do, don't check the value. We have found 3 bicentennial quarters and a couple with rare printing press marks. A couple of these are worth between $100-$200 per quarter!
Are bicentennial ones worth something? I have had several in my hand recently, while doing laundry.
this video IS UNDERRATED!!! Definitely deserves more views and likes. Thanks for the great information
Hey man! Great videos. Make sure you are inspecting your quarters for silver ones and other worth money
Great information, compact and thorough
Thanks for the content! Great vid
Thanks, I hope it helped!
Hey Neighbor, we are about an hour down the road in the Greenville SC area!! We are just starting in vending as well. We do our first collection this coming Saturday.
Don’t know if you know it or not, but on the coin star machine you can choose an e-gift card. There is no fee if you choose the e-gift card option. You could choose Amazon and use those to buy more product. Just a thought.
@@WesleyAllenNC Hey Brother, gow are you getting companies to contact you?
Yea inventory gets crazy man I wish I would have had it under control before I got so many locations!! But keep the info comin love to watch vending.
@@WesleyAllenNC thats exactly why i buy used! but hey whatever works for you. & yea apts are great in the summer ! i cant wait until summer because im going hard winter!!
Another great video man. Keep it up
Really insightful and helpful. Thank you! & @4:46 you just got a new subscriber for the laugh xD
Lol that’s awesome! Thanks 🐕
Nice tree.
Thank You for sharing with us.
What type of Pepsi machine is that??? Thank you. Great video.
They mostly use Dixie Narcos
Hey man! I have a ton a questions as I am soon getting into vending machines in texas. Would love to get some help and find out how to run this thing! Is there any way I could connect to you and ask a few questions? Would help alot
Do I still have to pay taxes with 2 vending machines?
You technically always have to pay taxes, on any money you make. It’s just that most people don’t report side income
@@WesleyAllenNC gotcha. So it’s up to the individual then?
Did I understand it correctly? IRS takes half of revenue plus 7%? Just want to understand the situation a little more.
Hey Brandi. I file quarterly Sales & Use tax with he NC Department of Revenue. They only tax half of my gross receipts. And I don't pay any sales tax when I purchase my goods. Just ask Sams about applying for a "Certificate of Exemption". They'll link a tax free option to your Sams card. This way you aren't paying sales tax upfront.. Essentially your charging the customer tax and collecting it on behalf of the NCDOR, then paying it to them quarterly. Keeps you from paying taxes on unsold or expired products..
@@WesleyAllenNC If I'm paying sales tax upfront (Costco), do I still need to tax customers? Thanks
@@itsjordanfitzsimmonsthe IRS expects that tax is built into your pricing. If you apply for a certificate of exemption with your local Costco or Sam’s (see front desk) they will allow you to purchase your resale snacks and drinks with zero sales tax. This way your not paying tax upfront AND when you report your earning (lookup “sales and use tax” that’s what I pay quarterly)
How do you get an app for your Machine?
The card reader “NAYAX” has its own app that I use
Hey! Love the video I have few more questions I would like to ask hopefully we can get in touch !
@@WesleyAllenNC the main one that I’m still confused with is how do I pay the taxes? Do I go to a certain type of website or call the IRS? And also what is the best way to find locations? Thank you for responding !
Do u make good profit on one machine
Did you get an LLC?
Yes, I registered as an LLC with the Secretary of State
How do you file the taxes? Do you send a check or do you do it online?
Or do they take it out of your account
@@WesleyAllenNC Perfect thank you! Do you get the certificate of exemption through the NCDOR, if so how do you do that? Also, you said that you don't pay sales tax when you purchase items, how do you use your certificate of exemption?
Do i need a LLC ..?
That’s a personal decision, but I think it’s wise to form one. It allows you to keep your personal finances legally separate from your businesses in the event of a lawsuit among other things
is that coupon code still valid? 👀
Yes it is!