How I Turned Vending Machines Into A $300K Business | On The Job

people love

vending

machines

because they are convenient if you are thirsty get a coat if you are hungry get some doritos not many people know that anyone can own them there are low start up costs and there is high return potential my name is marcus graham and i made more 300,000 last year with my

vending

machine

business

. I have 21 vending

machines

spread across Baltimore, Philadelphia, DC, and Detroit. These are some of my vending machines. This snack machine makes 800 a month and this drink machine makes a thousand dollars a month. This machine makes one thousand dollars a month and this machine makes thirteen hundred dollars a month.

I started my vending machine

business

in 2018. I had a friend who saw a woman taking cash out of a vending machine and that sparked the idea of ​​maybe we should get into this. It cost me around 4,500 to start in the vending machine business. vending machines between two machines and two credit card readers in 2018 I made four thousand dollars 2019 I made 25,000 2020 I made more than 200,000 2021 and I made more than 300,000 and I am currently projected to make more than five hundred thousand dollars in 2022. Before starting the vending machine business, I was making 30,000 a year, living in poverty and just hoping that one day I could change my life.

I used to try to be a music producer and that didn't work out, so I moved back home and my goal was to live with my mother for a period of time to save money. I stayed with my mother for about nine months and was able to save ten thousand dollars from that point on. I wanted to move to Philadelphia to start a business. I didn't know what that business was going to be and I landed in the vending machine business. What started as a side business became my life. I went from making thirty thousand dollars a year to over three hundred thousand dollars a year.

Some tips I have for starting your own vending machine business are: Never buy a machine until you have a place to put it when I'm looking for a good vending location. I'm looking for places that have a lot of foot traffic. You know places like apartments, hotels, motels. You know, student housing to buy a vending machine. You want to look for the local vending machine store, which I think is the best. You can also find vending machines at places like Craigslist Facebook Market or places like eBay. A vending machine can cost between a thousand dollars and ten thousand dollars depending on whether it is new or refurbished.

This is the vendo 511 drink machine, also known as your classic pepsi. machine A reconditioned machine like this will cost you around fifteen hundred dollars and a new one will cost you around thirty five hundred dollars. Well this is your standard ams snack machine. If you had a refurbished ams snack machine you should expect to pay around fifteen. One hundred to two thousand dollars and if it was a new snack machine, it would cost you approximately around five thousand dollars. This is the Crane National 449 Combo Machine. If you had a retail location that only had room for one machine, you can use something.

So, if you got a reconditioned machine, it would cost you around 3,500 and if you got a new machine, it would cost you around 7,000. Before the pandemic, this machine cost fourteen hundred dollars and this machine cost two thousand dollars. It was a thousand dollars and that was fourteen hundred dollars a typical day for me as an owner, join the sale when I wake up I review the sales of my vending machines I contact my staff to see what machines they are going to have in stock and then I buy product for the machines I service and then stock some of my best selling products are coca-cola red bull peanuts m ms nacho cheese doritos lipton iced tea those are some of the things people love most in my machines To get our product For vending machine we go to wholesale distributors like Sam's Club Bj's Costco's, we even come to our local vending machine store that also sells vending machine products.

I buy a bottle of coke for 55 cents and I sell it for 175. 1.20 per bottle of coke I sell I pay 60 for a bag of doritos at wholesale price and I resell it for a dollar fifty so I'm making about 90 cents Per bag of Doritos I sell I buy a can of Red Bull for a dollar 42 cents at a wholesale price and resell it for 2.85 in my vending machine, so I make a profit of 1.43 per can. I buy m ms peanuts for 75 at a wholesale price and resell them for a dollar sixty cents, so I earn 85 per package, 30 of my income goes to purchasing products for the vending machines, 10 percent goes to pay to my staff, another 10 goes to various things like gas and the other 50 I earn some of the things I love about running a vending machine business.

I have a lot of flexibility I can work when I want to work I also like the ability to serve people to meet their needs one of the challenges of running a vending machine business could be vandalism one time someone tried to break into my vending machine to steal cash , they broke the bill validator where the cash goes in and efforts to get the money out, fortunately for me, were unable to do so in the future. I am looking to expand to several states. add more vending machine locations nationwide. I want to add more staff to the team and then potentially open my own vending machine warehouse where I would sell my own vending machines, card readers and vending machine products by being in the vending machine business and being successful in I have been able to employ my sister, which is something very important to me and she has been able to change her life.

She runs my business in Philadelphia while I live in the suburbs in a very nice house with my family in Maryland. I've been able to change my life I've been able to change my sister's life I've been able to change my family's life with the vending machine business and I want to change other people's lives by talking about the business um doing speaking events seminars webinars everything what it can do for you, help everyone learn about a business that not many people know about you