You have to spend money to make money. Yes, when you are in the beginning stages of any business endeavor, you will have to spend a lot of your own money. I like the real estate comparison you mentioned, because it is the same concept for your vending machine business. How has the pandemic effected your business? As long as your machines hold up, then you should be in good shape. I wish you continued success, Jaime!
Yes so true! The pandemic hasn’t affected my business as much as other states, I only had one location that closed down for a couple months but that’s about it. It’s starting to pick up now which is good! Thanks William (:
Smart business move. Take a loss for a few years to build cash flow and then make that $10k a month in the future. Investing in your small business is vital to growth. Great job and can't wait to see how you end this next year.
I've followed you since you had like 1,000 subscribers from posting in a facebook group. Love to see your growth and I'm aspiring to grow my channel as much as you did!
You had a very successful year bro! Not many people can say they made this amount especially with the virus hitting small businesses tough. I hope your 2021 increase in success. Also thanks for this upload. I'm so quick to click to watch your videos when I get the notification on both channels.
@@rhondarebacca4004 your right The Rich stay by spending like the poor and Investing Non stop, while the poor stay by spending like the rich and yet not making any Investment.
Im just starting out with 4 machine to see what happens. I got so much respect for young guy like yourself. I love all your videos and ill let you know how i do in this business. Million thx to ya 💡
Actually he isn't wasting his time getting his products from Sam's Club. Because if he order it online who knows how long has products will take to get to his door with all the delays in this world what's going around with Colby. If he ordered something January 1st and it doesn't get to his door until January 22nd.. I'm pretty sure he'll be pretty pissed because most of his vending machines will be without product for 21 days
@@frederickwalters2729 Part of owning a business where stock has to be managed is knowing how to solve the exact problem you described. It's possible using the correct supply and demand calculations.
Really appreciate the video! You have good vision! Thank you for the transparency on how much you make and all the expenses. It is very helpful! Keep up the hard work and you should look into getting ATMs. They are zero risk, meaning product doesn’t expire or go bad, you just have to be connected to Internet and have a small start up amount of cash to fill it, but all you need is that same amount, so let’s say you put $5,000 in a machine, you never lose that, you just keep putting that same amount in the machine over and over, but you keep collecting the surcharge. Seriously look into getting into ATMs, also, they only cost about $2500 new, that’s a low startup cost compared to snack machines and stuff. Also, put one near your other machines and that might make you even more money!
New subscriber forget the haters keep pushing people will hate you but there will be even more people who love you and support I pray all bussiness owners enterprenures hard working people that striven and driven success may god bless all of us
How much you usually pay on the place we’re the machine is located? Or how much you usually pay on the owner of the Building to put your Vendo machine?
Can’t wait for you to hit 500k subs keep grinding 💯 it may seem like a long way alway but you guys got this. love your videos and your guys vibe I am subscribing for sure!
It's great to see the transparency here. So many talk about revenue while misrepresenting it as profit. It's great to see someone acknowledging the various line item expenses.
Did you create an LLC for your business? I figured that would be beneficial when running this type of business. Also, do you pay yourself a salary? If yes, was that part of the total sales? Lastly, is it better to do taxes on a quarterly, semi-annually, or an annual basis?
Hi PLEASE REPLY AS I AM CURIOUS can you please confirm that do you have to ask permission or sign contracts to place your vending on a property . I am new to this and as you have 5 vending machines i am sure you would have some insights on what to do thanks !
That was some pretty fuzzy math at the end, but good luck to you. "If I didn't spend 40k on machines this year, then that's 40k profit we would have had" you're already negative 30k if you don't spend 40, you're still only making $10k. You also have to apply a scaling cost. More locations means more deliveries, possibly additional trucks, labor, etc. What you really need is more margin in your product. Either lower cost items or selling for a higher price.
Jaime Great Job!! You have alot of vending machines now!!! Ill probably sign up for your class since I see your success in The vending machine industry!
Hi Jaime, I have an important question regarding your business expenses. Did you get an insurance for your vendíng machines and if so from where and how much was the cost for the whole year? Great video!
Beside your expenses and earrings you need to have another sheet for the assets. You bought asset and you shouldn’t realized the expense of that asset until you use it. So the reason you are in negative is because you add the assets to your expenses.
Love your content Jaime. I’ve been following for maybe a year now, but you are a true inspiration. I’m happy to see you’ve come a long way. Happy for your success. Also another thing you’re awesome for creating that website with your videos and mentor ship program. I’m talking to my wife about starting a vending business. And buying your program. One question as well if you don’t mind. You mentor people wanting to start, but do you have a mentor or someone you look up to? Last thing...glad to see and support a fellow paisa living in the DFW area. I’m in North Texas as well.
It's all about the long term investment, not the quick cash. It takes a few years before a business is profitable and in the end if you do it right you will make a lot of money. You have youtube income to offset it so that gives you an advantage.
FYI Jaime, if you ever chose to do the actual expense method instead of the standard mileage rate for vehicles then you can only use the actual expense method for future years for that specific vehicle. Meaning you cant switch back to the standard mileage rate if you chose the actual expense method. Most of the time, the standard mileage rate is the best option!
hey jaime, i started watched your videos a long time ago, honestly can't remember, but i haven't kept up bc i've been busy. ever since i started watching you, i was amazed by the business, might even start doing it soon with the help of my pops, not sure as yet. but im doing research on how to get a vending machine first, then budget since i'm out of the US, im excited to see if this goes anywhere :)
I'm a new follower & I've binged like 10 of your videos!!! Once you reach the goal of 100 machines, are you going to hire help? If so, how would you keep track of sales and products?
While writing deductions for the mileage, is that only the miles driven for everything related to the business or also personal driving? Like I have a job so I gotta track my miles altogether or just when I’m driving to locations?
Thank y’all for all the support in 2020 ♥️ Hope y’all have a great 2021 🙏
I love your vids
Keep up the good work
Hola
hello
Awesome 👏
Sorry for the editing mistake in 2:40 😅 it’s not supposed to be filled in lol
Let me come work for you plz
Hi
Lol
That's ok
XD I was like whait what and then I was like XD
Finally an honest look at a business. This is your best, most informative video yet.
Thank you Philip!
And honest look at HIS DADS business.
Oh my God, it has been a while since I watched his videos and I'm just looking at how far he has come.
So PROUD of you man. KEEP it up.
Thank you!! 🙏 means a lot!
@@jaimeibanezz Yw. You are an inspiration. thanks for your amazing content.
You have to spend money to make money. Yes, when you are in the beginning stages of any business endeavor, you will have to spend a lot of your own money. I like the real estate comparison you mentioned, because it is the same concept for your vending machine business. How has the pandemic effected your business? As long as your machines hold up, then you should be in good shape. I wish you continued success, Jaime!
Yes so true! The pandemic hasn’t affected my business as much as other states, I only had one location that closed down for a couple months but that’s about it. It’s starting to pick up now which is good! Thanks William (:
Vending machines are one of the most recession-proof businesses out there, for sure!
Smart business move. Take a loss for a few years to build cash flow and then make that $10k a month in the future. Investing in your small business is vital to growth. Great job and can't wait to see how you end this next year.
you should do a video explaining how do you get your locations and how you approach location owners
He has
@@barrycold5796 has he
@@turb0j3sus26 he has he
Love to see it. Wish y'all nothing but continued success this year!
Thanks David! Wish you the same 🙏
I appreciate your honesty about the finances of your first year of business. This shows both humility and confidence.
Thanks Stephen 👍
I've followed you since you had like 1,000 subscribers from posting in a facebook group. Love to see your growth and I'm aspiring to grow my channel as much as you did!
So glad to have another video, just finished rewatching like 4 of them back to back
Here’s to another 4 right? 😁
@@jaimeibanezz definitely
Can you tell us how you found your first location? And how you started finding all your locations?
Easily one of the smartest and driven 20-year-olds I’ve come across. Props bro!
You had a very successful year bro! Not many people can say they made this amount especially with the virus hitting small businesses tough. I hope your 2021 increase in success. Also thanks for this upload. I'm so quick to click to watch your videos when I get the notification on both channels.
OMG Jaime I'm so excited for you to buy your house!!! Hard work paying off man!! 👏👏
For your coffee machines it would be good to put in warehouses. Great for the winter
Its crazy how you share this with us most other youtubers don't share their earnings #respectforjaime 😁😎
I wanna be hella transparent (:
The vending machine LEGEND is BACK AT IT AGAIN!! 🙌
Haha ♥️
I think the pandemic has taught people the importance of multiple stearns of income untortunately having a job doesn't mean security
@@rhondarebacca4004 your right
The Rich stay by spending like the poor and Investing Non stop, while the poor stay by spending like the rich and yet not making any Investment.
@@pinnedhindustantimes5883 your right
@@rhondarebacca4004 like me I involved in real estate investing
Im just starting out with 4 machine to see what happens. I got so much respect for young guy like yourself. I love all your videos and ill let you know how i do in this business. Million thx to ya 💡
You need to start going directly to companies. The price you pay at sams is too high and wasting time. Get it delivered
Actually he isn't wasting his time getting his products from Sam's Club. Because if he order it online who knows how long has products will take to get to his door with all the delays in this world what's going around with Colby. If he ordered something January 1st and it doesn't get to his door until January 22nd.. I'm pretty sure he'll be pretty pissed because most of his vending machines will be without product for 21 days
@@frederickwalters2729 Part of owning a business where stock has to be managed is knowing how to solve the exact problem you described. It's possible using the correct supply and demand calculations.
Really appreciate the video! You have good vision! Thank you for the transparency on how much you make and all the expenses. It is very helpful! Keep up the hard work and you should look into getting ATMs.
They are zero risk, meaning product doesn’t expire or go bad, you just have to be connected to Internet and have a small start up amount of cash to fill it, but all you need is that same amount, so let’s say you put $5,000 in a machine, you never lose that, you just keep putting that same amount in the machine over and over, but you keep collecting the surcharge. Seriously look into getting into ATMs, also, they only cost about $2500 new, that’s a low startup cost compared to snack machines and stuff. Also, put one near your other machines and that might make you even more money!
Finallyyyyyyyy! Waiting for thissss. 🥺 Why sooo Pogi (Handsome) 🔥
Haha thank you! 😄
Congratulations!! You deserve it. That’s awesome when hard work pays off.
Wow you guys are still alive !!!
Good to see a new video.
😂😂 thanks Matthew!
Nothing is better than you being your own boss im a server at a Dennys by me watching this makes me want to buy vending machines, Congratulations 👏 👍
New subscriber forget the haters keep pushing people will hate you but there will be even more people who love you and support I pray all bussiness owners enterprenures hard working people that striven and driven success may god bless all of us
How much you usually pay on the place we’re the machine is located? Or how much you usually pay on the owner of the Building to put your Vendo machine?
DAAAMNNNNNN JAIME BACK AT IT AGAIN WITH NON CLICKBAIT
Can’t wait for you to hit 500k subs keep grinding 💯 it may seem like a long way alway but you guys got this. love your videos and your guys vibe I am subscribing for sure!
LOVE the Reyes inclusion! Awesome
What about the gassssssssss
Jaime, you made more than me and my husband so I think your earnings are great! Good job!
Thank you! 🙏
Keep up the good work man
Jaime back with another fire video!!!!
Nobody but him can pull off a Dr Pepper hat with a Pepsi t shirt
Without a doubt !
😭
Thanks/gracias for the information. Just started following you, definitively will take a look at your course.
It's great to see the transparency here. So many talk about revenue while misrepresenting it as profit. It's great to see someone acknowledging the various line item expenses.
No one:
Jaime: *wears Dr Pepper hat*
*wears Pepsi t shirt*
😂😂
Actually, Pepsi owns and distributes Dr. Pepper, so he’s got the whole monopoly (and according to me, the two best sodas)
Please upload regularly we need more vending collection Vids!!!
I got a collection coming up soon!
Did you create an LLC for your business? I figured that would be beneficial when running this type of business. Also, do you pay yourself a salary? If yes, was that part of the total sales? Lastly, is it better to do taxes on a quarterly, semi-annually, or an annual basis?
I got 5 vending machines and I get 4,000 each 3 weeks some times I get less but I am living a good life
Where do you have the vending machines ?
Hi PLEASE REPLY AS I AM CURIOUS can you please confirm that do you have to ask permission or sign contracts to place your vending on a property . I am new to this and as you have 5 vending machines i am sure you would have some insights on what to do thanks !
Yes
@@victorflores3152 did you need a license of some sort?
That was some pretty fuzzy math at the end, but good luck to you. "If I didn't spend 40k on machines this year, then that's 40k profit we would have had" you're already negative 30k if you don't spend 40, you're still only making $10k. You also have to apply a scaling cost. More locations means more deliveries, possibly additional trucks, labor, etc.
What you really need is more margin in your product. Either lower cost items or selling for a higher price.
I wish New Zealand had vending machines like his!
It does?
Love the honesty you’re appreciated
Best UA-camr 😃
Jaime Great Job!! You have alot of vending machines now!!! Ill probably sign up for your class since I see your success in The vending machine industry!
I might start doing vending, keep growing your business 💯👍🙂
Thanks Pablo!
Finally a new video been waiting for this big fan of you and your girl
Thank you so much for watching (:
Hi Jaime, I have an important question regarding your business expenses. Did you get an insurance for your vendíng machines and if so from where and how much was the cost for the whole year? Great video!
I don’t know about him but I have insurance for my vending company and $600 a year through the heart Ford
Thank you for this video! I can relate to the end of the video!!! So me and so addicting to get new locations every time! 💗
Do you file a Schedule C when doing taxes for your business? And how do you pay yourself as an employee? A video on this topic would be helpful 💯
Your video content is getting so much better, nicely done man!
Thank you 🙏
It’s crazy watching your grow from your first few units. Dope story . 🔥💯🤟🏽
Do u know how many vending machines he set up last year?
Hey what's up every Jaime.
Year in review, SUCCESS!
Very clever young man ! Your parent are so bless to have you ! Congratulation !💐⭐️⭐️⭐️😀👍👍
Beside your expenses and earrings you need to have another sheet for the assets. You bought asset and you shouldn’t realized the expense of that asset until you use it. So the reason you are in negative is because you add the assets to your expenses.
Usually when you get started with any business the first year is going to cost the most it will take a couple years for you to start making money
Yupp so true!
I love the Jaime and Reyes partnership 🤣
Gross and net income. Using these terms would make what you're saying even clearer
I did say total sales but okay sorry 🤷♂️
@@jaimeibanezz Total sales minus 30% tax, minus business expenses, you probably profited about 40k ish??
how did you purchase your first machine ???
This is the video I will look back on thank you
About to start my own in cali. 2 vending machines that are a combo drinks and snacks
he saying what he made for vending business but did yall forget how much he makes with youtube its just adds with the vending business he smart
Love your content Jaime. I’ve been following for maybe a year now, but you are a true inspiration. I’m happy to see you’ve come a long way. Happy for your success.
Also another thing you’re awesome for creating that website with your videos and mentor ship program. I’m talking to my wife about starting a vending business. And buying your program.
One question as well if you don’t mind. You mentor people wanting to start, but do you have a mentor or someone you look up to?
Last thing...glad to see and support a fellow paisa living in the DFW area. I’m in North Texas as well.
I love that he says we all the time shows commitment and partnership
Your gf has improved a lot on the camera nice job👍
Thank you ! ☺️
@@lizbethgalvann hi
It's all about the long term investment, not the quick cash. It takes a few years before a business is profitable and in the end if you do it right you will make a lot of money. You have youtube income to offset it so that gives you an advantage.
Hey Jaime! Congratulations on the new locations
Thanks Henry!
Never miss a video
Great seeing you again!!!!!
Most creative presentation of running a business. Kudos👍
Love your videos man keep it up and if you you double what you made last year next year is gonna be better for y’all!!
THE OG VENDING MACHINE KING
He's just starting
Less than 4 years
Luv the new office J!
Thank you!
What website do you use to keep all the machines connected
You will make it !
You’re very disciplined
After long time iam watch your video big fan from india
Great content, love the quality. Keep it up, Jaime!
FYI Jaime, if you ever chose to do the actual expense method instead of the standard mileage rate for vehicles then you can only use the actual expense method for future years for that specific vehicle. Meaning you cant switch back to the standard mileage rate if you chose the actual expense method. Most of the time, the standard mileage rate is the best option!
What really?!! What if I’m currently doing mileage, can I later switch to the standard?
@@jaimeibanezz mileage is the standard mileage rate bruh
@@angelhd7446 can I later switch the the expense method I meant lol
@@jaimeibanezz yes, but you wont be able to switch back to the mileage rate.
Great video Jaime thx!
Yeah im here for the growth and info 💪🏾 keep going #RoadTo100Machines
I'm from the Philippines I support you in 2020-2021
hey jaime, i started watched your videos a long time ago, honestly can't remember, but i haven't kept up bc i've been busy.
ever since i started watching you, i was amazed by the business, might even start doing it soon with the help of my pops, not sure as yet.
but im doing research on how to get a vending machine first, then budget since i'm out of the US, im excited to see if this goes anywhere :)
Hey Jamie Love the videos keep up the good work
Nice might look into this 🤔
Good info... thanks for being honest. .... remember it’s not how much you make, it’s how much you keep.
Video quality is A1 good job!!!! Doing it big 2021
Hey Jamie keep up the good work you work really have
I'm a new follower & I've binged like 10 of your videos!!! Once you reach the goal of 100 machines, are you going to hire help? If so, how would you keep track of sales and products?
YOU ARE REALLY SMART !
I think this is a really creative/convient for some easy money on the side. Money is money!
Great stuff.
Love it bro
While writing deductions for the mileage, is that only the miles driven for everything related to the business or also personal driving? Like I have a job so I gotta track my miles altogether or just when I’m driving to locations?
Young and smart. Keep at it man
he looks like a F1 driver put with snacks companies on his stuff he just different. and i like that
I’m looking to start a vending machine business !
400k subs👀🔥
Almost there 🔥
Plus what you make off of UA-cam. I need to get into this business 👨💼.
Make a video of common issues with the machines
Great video