Success Strategies of a Part-Time Vending Machine Entrepreneur
An entrepreneur earns $35,000 per month working part-time with vending machines, sharing tips and insights into his success.
00:00:00 A 23-year-old entrepreneur makes $35,000 per month working 3 days a week with his vending machine business. He started in high school and now has over 50 machines. He shares insights into his success and future plans.
💼 The video is about a 23-year-old who runs a vending machine business and makes up to $35,000 per month.
💪 The speaker started selling snacks in high school and eventually saved enough money to start his vending machine business.
👨💼 The speaker didn't have any mentors when he started and had to learn through trial and error. He now uses Google and YouTube for information.
00:06:42 A man earns $35,000 per month working part-time with vending machines. He plans to expand to hundreds of machines and discusses the challenges of shipping chocolate. He explains how revenue is split with business owners and demonstrates pre-kitting for a location.
💰 The goal is to have a couple hundred vending machines, with the potential for multi-million revenue.
🍫 Shipping chocolate is challenging due to the risk of melting, but it still sells well.
💰 Vending machine owners typically pay a percentage of sales to the business owner, usually starting at 10%.
💡 Smaller locations may demand a higher percentage, while larger locations prioritize good service.
⚡️ Business owners usually cover the cost of electricity for vending machines, which are energy-efficient.
🚚 Prepping for servicing locations involves pre-kitting the products and using inventory tracking software.
🧼 One vending machine is specifically designed to sell soap at a laundromat.
💲 Converting a regular snack machine to sell soap was a cost-effective solution.
00:13:39 A vending machine owner shares his experience and tips on running a successful vending business, including finding locations and maintaining machines.
The speaker sells soap and detergents at a double markup.
They pay commission to the owner of the location.
The speaker discusses the process of changing prices on the vending machine.
00:20:22 A man earns $35,000 per month working part-time with vending machines. He shares tips on finding affordable products and maximizing profits through pricing strategies. He also discusses the benefits of having a warehouse and the differences between vending machines and mini markets.
💰 The speaker makes $35,000 per month working 3 days a week with vending machines.
🛒 The speaker discusses the sources for purchasing products for the vending machines and the importance of pricing and profit margins.
🏢 The speaker talks about the need for a warehouse in the vending machine business and when it may be necessary to get one.
💼 The speaker explains the difference between a vending machine and a mini market and discusses the advantages and challenges of running a mini market.
📝 The speaker mentions the importance of contracts and maintaining relationships with employers for placing vending machines and mini markets.
00:27:05 A vending machine business owner discusses the profitability and logistics of running a vending machine business, including the cost of starting up and the potential income. They also talk about expanding into the coffee business and offering additional services.
💰 The speaker earns $35,000 per month working 3 days a week with vending machines.
💼 Starting a mini market can cost around $15,000 and requires managing inventory and preventing theft.
💵 Micro Markets have higher average transaction amounts than vending machines, making them more profitable.
👨💼 Recommend starting with vending machines before venturing into micro markets due to the additional complexity and work involved.
📚 The speaker offers a course on vending machine business and can be contacted through their website.
☕ The speaker is expanding into the coffee business, renting out machines and providing coffee supply and maintenance services.
00:33:46 A man makes $35,000 per month working 3 days a week by running his exotic snack business and selling imported snacks from different countries on his website. He also talks about the vending machine business and how much it costs to get started.
💼 The video discusses the speaker's exotic snack business, where he imports unique flavors from other countries and sells them on his website.
🌍 He explains that finding suppliers and building relationships with them was a time-consuming process, taking about eight months.
🤖 The speaker shares insights into the vending machine business, including the cost to get started, the importance of choosing good-quality machines, and the potential earnings per machine.
00:40:28 A vending machine entrepreneur in Texas shares tips on finding profitable locations and maximizing profit margins in the vending industry.
💼 Building connections and networking are crucial for getting prime vending machine locations.
💰 The profit margin in the vending machine industry is around 55%, but expenses like product, gas, and rent need to be factored in.
👣 High foot traffic locations, especially industrial places, are ideal for vending machines.
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