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Study Hall: START A VENDING MACHINE BUSINESS · Earn Your Leisure

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  Speaker 2: All right, So now we go to get into some details.
• 1:01
  Speaker 2: So all right, So for vending machines, right, first question
• 1:04
  Speaker 2: is how much does the vending machine costs?
• 1:07
  Speaker 3: So it could range.
• 1:08
  Speaker 4: So I mean the cheapest you're going to find it
• 1:11
  Speaker 4: is always going to be somewhere run one thousand dollars
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  Speaker 4: if you're using a used machine versus if you're coming
• 1:16
  Speaker 4: in with something new.
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  Speaker 3: You're looking at about five grand five grand for.
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  Speaker 4: A brand new one brand like brand new, team in
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  Speaker 4: the top of the line.
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  Speaker 5: Type of thing, new or used. I didn't even know
• 1:25
  Speaker 5: that there were new use machines. How where do we
• 1:28
  Speaker 5: even get this?
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  Speaker 3: Like?
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  Speaker 6: Where am I finding a new machine? Where do I go?
• 1:32
  Speaker 4: So, I mean new machines you could get from like
• 1:34
  Speaker 4: the man the manufacturers actually making like coke, PEPSI like
• 1:38
  Speaker 4: those type of places you can buy and trade from them.
• 1:41
  Speaker 5: Those are where the new machines come from. And we're
• 1:43
  Speaker 5: talking about actual what I mean, there's different types. We're
• 1:46
  Speaker 5: talking about food vending machines.
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  Speaker 4: So we're talking about soda snacks. They do have food,
• 1:51
  Speaker 4: they have ice cream machines. There's a lot of different
• 1:53
  Speaker 4: different types. So if you're talking about used machines, which
• 1:57
  Speaker 4: is you know, I use use machines, and that's what
• 1:58
  Speaker 4: I recommend everybody else use, mainly because it's easier to
• 2:02
  Speaker 4: maintain and it's a lot more affordable.
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  Speaker 3: Like the price is nowhere close to you know, five
• 2:07
  Speaker 3: thousand dollars.
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  Speaker 4: You can get a used machine for around nine hundred,
• 2:09
  Speaker 4: which is what my first machine was. And you can
• 2:13
  Speaker 4: find those on places such as like crackslists offer up Amazon,
• 2:18
  Speaker 4: let go, it might be a little more Amazon. And
• 2:22
  Speaker 4: then the only reason I wouldn't I would say not
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  Speaker 4: to get it off like a platform where it's like online,
• 2:27
  Speaker 4: because I would recommend you checking the machine out first.
• 2:30
  Speaker 3: You don't want to get it and get it in, get.
• 2:32
  Speaker 4: It where you don't put it, and then it's not
• 2:34
  Speaker 4: working right, and then you have to ship it back
• 2:36
  Speaker 4: like that's a that's a long process.
• 2:37
  Speaker 2: You said, let go, Yeah, what's what's that? So it's
• 2:40
  Speaker 2: an app? It's a app.
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  Speaker 4: Yeah, so let go offer a Facebook market. But it
• 2:46
  Speaker 4: just depends that. And another thing is it matters is
• 2:50
  Speaker 4: how are you how are you trying to scale this?
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  Speaker 4: Do you wanted this to be on some side hustle
• 2:55
  Speaker 4: passive income stuff or do you want to grow it
• 2:58
  Speaker 4: into like a full time business, Because if you're just
• 3:01
  Speaker 4: doing it as a side hustle just turned maxtual Baldom assign,
• 3:04
  Speaker 4: you know, using those resources such as like you know
• 3:07
  Speaker 4: Cress is fine, but if you really want to do
• 3:10
  Speaker 4: it like for a time, you want to find like
• 3:12
  Speaker 4: what I what I call vending warehouses. So a vending
• 3:16
  Speaker 4: warehouse is just a vending company that is large enough
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  Speaker 4: to sell you vending machines. So that's kind of how
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  Speaker 4: we make our money. On the back end, I might
• 3:24
  Speaker 4: have some machines setting around and then our cellos to
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  Speaker 4: anybody who's looking to buy it.
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  Speaker 2: Where do you find vending warehouses?
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  Speaker 3: So you would have to.
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  Speaker 4: Google vending machine companies in your area and then contact
• 3:37
  Speaker 4: them and see if they say.
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  Speaker 2: It's all like regional. It's all regional.
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  Speaker 5: Yeah, after I order it, I'm thinking to myself, right
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  Speaker 5: now I'm ordering machine. Uh, probably need the location first, right,
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  Speaker 5: because they're going to send that to your house, right,
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  Speaker 5: So do they send it to What happens after.
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  Speaker 6: I order it?
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  Speaker 4: So you could you could pick it the machine up
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  Speaker 4: first for our I recommend to people always always always
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  Speaker 4: get the machine after you have the location, for multiple reasons.
• 4:02
  Speaker 4: Because if you go out and you get excited, Okay,
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  Speaker 4: I'm going to vending thing. I see a cheap soda machine.
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  Speaker 4: This is a great deal.
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  Speaker 6: You buy it.
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  Speaker 4: Maybe you got it in your garage or something like that.
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  Speaker 4: You don't know what type of location you're gonna get first.
• 4:13
  Speaker 4: So that means you don't know what that location is
• 4:15
  Speaker 4: going to need. Maybe they already got a sort of machine, maybe.
• 4:18
  Speaker 3: They need a slack machine. Maybe it won't fit right.
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  Speaker 4: And then that's another thing. You don't know what the
• 4:23
  Speaker 4: measurements are for the space they have to put the machine.
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  Speaker 4: So it could be the machine you make you could
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  Speaker 4: have maybe too big, maybe it's too big to fit
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  Speaker 4: through the doorway. Maybe it's too big for the space
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  Speaker 4: that they actually want the machine. So it's always best
• 4:36
  Speaker 4: to wait until you get that location you know, on paper,
• 4:40
  Speaker 4: and then you go out and get your machine. But
• 4:41
  Speaker 4: on the flip side, you also want to know your
• 4:44
  Speaker 4: resources first, Like you want to know where you're getting
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  Speaker 4: that machine from prior to you know, finding your location.
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  Speaker 2: So like what what's some typical are they like typical
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  Speaker 2: profit margins? Like how much money can should a person
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  Speaker 2: expect to make off of like one machine?
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  Speaker 4: So an average a good a good location, Well you'll
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  Speaker 4: see around five hundred dollars for the foot per machine. Right,
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  Speaker 4: most locations have two machines, you know what I'm saying,
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  Speaker 4: unless it's like a combo if most of the time,
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  Speaker 4: if you'll find a combo machine, it's in a smaller
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  Speaker 4: in a smaller space because they can't fit two machines,
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  Speaker 4: or it's because maybe it's a slower that has slower traffic,
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  Speaker 4: lower traffic, and you don't want to put two machines
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  Speaker 4: in there, you know that type of situation. So like
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  Speaker 4: a thousand dollars, if you have two machines and one location, yeah,
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  Speaker 4: that's about that's right.
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  Speaker 5: When you have to find locations, you obviously looked at
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  Speaker 5: your life. You said, look, I played ball here, I'm
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  Speaker 5: gonna put one here. That's my high school, that's my barbershop.
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  Speaker 5: What does the average person have to do in terms
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  Speaker 5: of finding locations?
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  Speaker 4: So step one now, now to be honest with y'all,
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  Speaker 4: Like I had experience in like different marketing before beforehand,
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  Speaker 4: so I was already kind of seasoned season with UH
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  Speaker 4: networking and more and reaching people and calling all that
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  Speaker 4: type of stuff. The wholesaling I did do whole something,
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  Speaker 4: So yeah, so I use those same type of tactics
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  Speaker 4: to find locations, because it was I learned a lot
• 6:03
  Speaker 4: from actually going out and trying to find properties, you
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  Speaker 4: know what I'm saying when I was doing the whole
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  Speaker 4: selling thing.
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  Speaker 3: So the first thing I did was network.
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  Speaker 4: So I reached out to everybody around me, all my friends,
• 6:14
  Speaker 4: all my family members, let them know what I was doing.
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  Speaker 4: And this through doing that, it led me to having
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  Speaker 4: like my first few locations, you know what I'm saying.
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  Speaker 4: So that's how I ended up getting a school I
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  Speaker 4: do this name, which is my prior high school. I
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  Speaker 4: talked to them, you know, they let me place a
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  Speaker 4: vending machine in there, and it led me to you know,
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  Speaker 4: getting a few other spots.
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  Speaker 2: You know, I'm just thinking about it. A lot of
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  Speaker 2: places that yeah they have two vending machines, like a
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  Speaker 2: community center, a school. Yeah, you have two vending machines. Thought,
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  Speaker 2: I never thought about that before. I mean, or trying
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  Speaker 2: to cut you off. You can have two vending machines
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  Speaker 2: right next to each other, Like one is sodas and drinks,
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  Speaker 2: the other one is candies and chips and stuff.
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  Speaker 3: Yeah, they always like right next.
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  Speaker 2: To me, right next to each other. So that's not
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  Speaker 2: bad if you think about it, Like a thousand dollars,
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  Speaker 2: that's it's like you could be getting rental income easy,
• 7:03
  Speaker 2: but it's a lot less overhead as far as buying
• 7:05
  Speaker 2: a home.
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  Speaker 6: Yeah, So that was what I was gonna say two things.
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  Speaker 5: Well, first, when these big corporations, like if I see
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  Speaker 5: a Coca Cola machine, right, that's a vendor machine. Can
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  Speaker 5: I purchase that from it? Or is the corporation putting
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  Speaker 5: that in that location? Because you could have two vendom
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  Speaker 5: machines and then they have all coke products? Can you
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  Speaker 5: purchase that?
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  Speaker 3: Can you purchase it from from like Coca Cola?
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  Speaker 6: Is that like a thing? Can you get a vendom
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  Speaker 6: machine from a corporation.
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  Speaker 4: You're talking about as far as have if the machine
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  Speaker 4: is placed somewhere or if there is manufacturing the machines.
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  Speaker 5: Well, so I'm thinking in terms of I have my
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  Speaker 5: vendom machine, you right, I have two of them there,
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  Speaker 5: and then there's like a coke machine those coke products.
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  Speaker 6: Is that something like the average person can purchase or
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  Speaker 6: is just straight from the corporation?
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  Speaker 4: So so all right, so Coke does Coke actually places
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  Speaker 4: machines themselves. So but what they'll do is they don't
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  Speaker 4: they actually just will place the machine, right, But the
• 7:57
  Speaker 4: thing is the person they would have to like charge
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  Speaker 4: a certain amount the products, so the products. Once you
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  Speaker 4: buy a certain amount of products from from Coke, they'll
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  Speaker 4: play they get you, they get a place of vending
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  Speaker 4: machine for free, so and then they'll service it or whatever.
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  Speaker 7: Like.
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  Speaker 4: So if you're talking about like if that machine is there,
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  Speaker 4: most more than likely your machine won't be there because
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  Speaker 4: they'll have some type of contract with Coca Cola and
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  Speaker 4: they're not gonna let nobody else in there.
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  Speaker 2: So as far as location, because I know you said
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  Speaker 2: that you had a couple of different keys, foot traffic, isolation,
• 8:33
  Speaker 2: waiting rooms, so all of these different things. But before
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  Speaker 2: you even get to that, how do you approach somebody
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  Speaker 2: to put a vending machine in their place?
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  Speaker 5: Like?
• 8:42
  Speaker 2: All right, so you you see a school, like, what's
• 8:47
  Speaker 2: the process to say, Hey, can I put a vendo
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  Speaker 2: machine here? I talked to the principle, Yeah, how does
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  Speaker 2: that work?
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  Speaker 3: So that's that's a good question.
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  Speaker 4: Man. That's a lot of questions everybody asks us. But
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  Speaker 4: at all I really do is I'll approach whoever the
• 8:58
  Speaker 4: receptionist is that that first point of contact, and I'll
• 9:01
  Speaker 4: ask them who I need to speak to to place
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  Speaker 4: a machine here. So it's usually the person that everybody
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  Speaker 4: usually has a person who's in charge of doing business.
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  Speaker 4: So the high school as a you know, a business manager,
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  Speaker 4: I had to talk to them. So if you're if
• 9:15
  Speaker 4: I'm going into a motel or something, most of the
• 9:17
  Speaker 4: time they have a business managers, you talk to them.
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  Speaker 4: So it's just about asking that first point of contact.
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  Speaker 4: Get you know, obviously if you can find a manager
• 9:24
  Speaker 4: or something like that, reach you, you could reach and
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  Speaker 4: but then ask that person, who's the person who's that
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  Speaker 4: I have to talk to?
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  Speaker 3: That actually makes the decision.
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  Speaker 5: So once you get in the high school, you get
• 9:34
  Speaker 5: into the recreation center, is there a fee that you
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  Speaker 5: have to pay for being there or it is just
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  Speaker 5: part of the profit margin you have to give to
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  Speaker 5: the places?
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  Speaker 6: Like how's that work?
• 9:40
  Speaker 4: So it's all about from my experience, it's all about
• 9:44
  Speaker 4: how you get that how you get that spot. So
• 9:47
  Speaker 4: if you have you have different resources you're using to
• 9:51
  Speaker 4: get locations. Right, If one thing that you could do
• 9:55
  Speaker 4: is you out, you go out yourself and you actually
• 9:57
  Speaker 4: look for locations, like you know, when we talk about
• 10:02
  Speaker 4: the whole other thing, it's called like driving for dollars,
• 10:04
  Speaker 4: Like you're he of that term, right, So that's a
• 10:06
  Speaker 4: method you go out driving around. I actually found the
• 10:09
  Speaker 4: laundrymat the other day just driving around. I wasn't even
• 10:12
  Speaker 4: looking for it, but I just happened to see it,
• 10:14
  Speaker 4: and actually I'll put it on Instagram. So I put
• 10:16
  Speaker 4: it on a live just to show people like this
• 10:17
  Speaker 4: is like, you know, how easy it is to find
• 10:19
  Speaker 4: something and if you're paying attention to what's around you.
• 10:23
  Speaker 4: So that's one method. And another method is like cold calling,
• 10:26
  Speaker 4: which is you just make a list of multiple places
• 10:30
  Speaker 4: and that that may be suitable for a vending machine
• 10:34
  Speaker 4: in your area that you're looking at place one like
• 10:36
  Speaker 4: using zip codes or whatever, and you know, and you
• 10:39
  Speaker 4: just call them if you're doing that method. Most of
• 10:41
  Speaker 4: the time I found when you found it like a
• 10:42
  Speaker 4: location like that, they ask for a commission because you're
• 10:45
  Speaker 4: asking to come into their space and do business like
• 10:47
  Speaker 4: you're asking for something from them right now. On the
• 10:50
  Speaker 4: flip side, you get a website right the top, the
• 10:54
  Speaker 4: most the top that the most common thing people do
• 10:57
  Speaker 4: is when they're looking for vending services. If you know,
• 10:59
  Speaker 4: you're just opened up your store, your business or whatever
• 11:02
  Speaker 4: it may be, it's Google, so they go right to
• 11:05
  Speaker 4: Google vendom Machine service and Philadelphia my joone is like
• 11:09
  Speaker 4: one of the top ones on there. So you click
• 11:11
  Speaker 4: on that, they they call you, They contact you, and
• 11:15
  Speaker 4: then they're going to ask you to place a vending
• 11:17
  Speaker 4: machine in their place of business. So most not in
• 11:20
  Speaker 4: that scenario. Most of the time they don't ask you
• 11:22
  Speaker 4: for a commission because they just want your service. They
• 11:24
  Speaker 4: want your service for their customers or for their employees
• 11:28
  Speaker 4: off for whatever reason.
• 11:29
  Speaker 3: It's just like, yoah, we just want your service. We're
• 11:30
  Speaker 3: not worried about commission.
• 11:32
  Speaker 2: So if you approach them, you got to pay them
• 11:35
  Speaker 2: most of the time. If they approach you, you don't
• 11:37
  Speaker 2: have to.
• 11:38
  Speaker 3: Pay most of the time most of the time. That's
• 11:39
  Speaker 3: how that goes.
• 11:40
  Speaker 4: That also depends on what type of place it is,
• 11:42
  Speaker 4: you know, because if you're dealing with like recreation centers
• 11:45
  Speaker 4: and schools, a lot of times those those facilities are
• 11:48
  Speaker 4: are like the prob the funds already, so they always
• 11:52
  Speaker 4: looking for different ways to supplement, you know, some income.
• 11:55
  Speaker 3: So they're going to bring that up.
• 11:56
  Speaker 2: So what kind of commission is fair? Like if somebody
• 11:59
  Speaker 2: I'll let you they had but heres, you gotta give
• 12:01
  Speaker 2: me twenty percent temper, Like, what's a fair amount that
• 12:05
  Speaker 2: a fear amount.
• 12:06
  Speaker 3: Really depends on the traffic and that location.
• 12:09
  Speaker 4: But you typically it's around ten percent, Yeah, ten percent
• 12:12
  Speaker 4: is like it's like a fear amount most of the
• 12:14
  Speaker 4: time if it's a good location.
• 12:15
  Speaker 6: So you you sit down, you say that we can
• 12:19
  Speaker 6: have the vending machine here. What we do next? Are
• 12:21
  Speaker 6: we jowing up a contract?
• 12:23
  Speaker 2: Right?
• 12:23
  Speaker 4: So at the point where they give me the person
• 12:26
  Speaker 4: of contact and they said they're interested and they I'll
• 12:29
  Speaker 4: schedule a meeting with them, so we're sit down like
• 12:30
  Speaker 4: we're talking. Now, I'll have a proposal, which is something
• 12:34
  Speaker 4: I came up with this from doing the meetings, and
• 12:37
  Speaker 4: it's all the information is in the proposal, which just
• 12:39
  Speaker 4: cuts down the meeting time.
• 12:41
  Speaker 3: So you know, in there is this about your business,
• 12:44
  Speaker 3: a little bit about yourself.
• 12:46
  Speaker 4: You want to put the products that you use, what
• 12:48
  Speaker 4: makes you different than other companies, your price points for
• 12:51
  Speaker 4: your products. Just present all that to them and then
• 12:54
  Speaker 4: you know, if they like that, then I also have
• 12:56
  Speaker 4: the contract there, so and if they're good with the contract,
• 13:00
  Speaker 4: you know we signed it right there. Do the deal
• 13:01
  Speaker 4: right there. Now, Sometimes it doesn't go that way. Sometimes
• 13:04
  Speaker 4: they might want certain contingencies or whatever in the contract.
• 13:07
  Speaker 4: So if they want that and you you asked, you
• 13:10
  Speaker 4: have you know, obviously you have to go back and
• 13:11
  Speaker 4: draw up a new contract. And get them to sign
• 13:13
  Speaker 4: that one.
• 13:13
  Speaker 5: Yeah, I'm thinking of like the school, right, so I'm
• 13:15
  Speaker 5: thinking like one of the contendencies they may have is
• 13:17
  Speaker 5: like you can't certain a certain amount of sugar.
• 13:20
  Speaker 4: Yeah exactly, its certain certain products. And then it's like
• 13:23
  Speaker 4: some people will want your actual service hours in there,
• 13:28
  Speaker 4: or they'll want like if basically like if if something
• 13:32
  Speaker 4: goes wrong, you have to repair it by all this
• 13:34
  Speaker 4: amount of time type of thing like, so that stuff
• 13:37
  Speaker 4: is usually people usually tweak, but for the most part,
• 13:39
  Speaker 4: they did go about what's on the paper.
• 13:41
  Speaker 2: So okay, So as far as let's go back to location.
• 13:45
  Speaker 2: So like you said, you said foot traffic, accessibility, isolation,
• 13:48
  Speaker 2: and waiting rooms, those are like your four golden rules, right, oh, the.
• 13:52
  Speaker 4: One second toe. And then for the commission that I
• 13:55
  Speaker 4: never bring up commission. So never never sit down with
• 13:58
  Speaker 4: a location and say, all right, well this is the
• 14:00
  Speaker 4: out that we're paying commission. If they don't mention it,
• 14:02
  Speaker 4: oh yeah, no, no, no. Some people think that that's
• 14:07
  Speaker 4: like the pitching like point is like we can pay
• 14:09
  Speaker 4: you this much in commission, don't mention.
• 14:11
  Speaker 2: That, because it's not that that's a good that's a
• 14:13
  Speaker 2: good point because you might automatically assume that you have
• 14:17
  Speaker 2: to pay because you're you're in their space. But like
• 14:19
  Speaker 2: you said, it's kind of like an attraction where it's like,
• 14:23
  Speaker 2: like my son goes to camp. Every time I pick
• 14:25
  Speaker 2: him out, he's like, can you give me something on
• 14:27
  Speaker 2: the vending machine. So it's like, you know what I'm saying,
• 14:29
  Speaker 2: It's like the vending machine is actually helping in that
• 14:32
  Speaker 2: situation because it's like people something you might just walk
• 14:35
  Speaker 2: into a space just to use the vending machine.
• 14:37
  Speaker 5: Right, So that I'm now I'm thinking about from the
• 14:40
  Speaker 5: business standpoint, Having a school during the year is great.
• 14:42
  Speaker 3: Having a recreation center during the summer gold month all
• 14:46
  Speaker 3: kids want, well, no recreations.
• 14:48
  Speaker 4: Recreation centers doing the school year are good too because
• 14:52
  Speaker 4: they have different programs and they have basketball games and stuff.
• 14:58
  Speaker 2: Yeah. So all right, so location, location, location is the
• 15:04
  Speaker 2: most important thing in real estate period. And I guess
• 15:08
  Speaker 2: it's no different from vending machine either. Right, you got
• 15:10
  Speaker 2: the best vending You could be giving away gold bars
• 15:12
  Speaker 2: if it's in the desert, didn't matter. So how do
• 15:16
  Speaker 2: you know what's a good look? I mean, obviously, well
• 15:18
  Speaker 2: I ala say, obviously, how do you know what's a
• 15:20
  Speaker 2: good location or not.
• 15:21
  Speaker 4: So I mean from what you just basically what you
• 15:23
  Speaker 4: just mentioned, but I picked them up as time went on,
• 15:27
  Speaker 4: just noticing different things. So when I'm walking into a location,
• 15:31
  Speaker 4: I go with a checklist. I don't really use it
• 15:33
  Speaker 4: anymore because I kind of like know now, but it's
• 15:35
  Speaker 4: best to have a checklist and use this.
• 15:36
  Speaker 3: And this is what you want to look for.
• 15:38
  Speaker 4: So you want to look for when you pull up
• 15:40
  Speaker 4: to the space, is it any stores around that building?
• 15:44
  Speaker 4: So when I say isolation, that that's what I'm talking about.
• 15:46
  Speaker 4: So I'll take a lap of two laps around. See
• 15:49
  Speaker 4: I'm looking for corner stores. I'm looking at this for
• 15:51
  Speaker 4: other places.
• 15:52
  Speaker 3: To eat, all right.
• 15:53
  Speaker 4: So if if I don't see no other places to eat,
• 15:55
  Speaker 4: I'm like, okay, so that's that's a good sign.
• 15:57
  Speaker 2: Right.
• 15:58
  Speaker 4: And then when I walk in the door, I'm looking
• 16:00
  Speaker 4: in terms of moving I'm looking for steps and all
• 16:02
  Speaker 4: that type of stuff because you have to move the
• 16:03
  Speaker 4: machine in there. When it terms of what makes it
• 16:05
  Speaker 4: a good location, I'm I'm looking to see where the
• 16:08
  Speaker 4: machine will be placed, all right. So I'm like, all right, well,
• 16:12
  Speaker 4: is it placed somewhere where it's visible and people could
• 16:14
  Speaker 4: see it? Because I had one situation where I had
• 16:16
  Speaker 4: a it was a hotel, wanted me to put a
• 16:18
  Speaker 4: machine in there, but they wanted a machine like in
• 16:21
  Speaker 4: the in the back way in the back where nobody
• 16:23
  Speaker 4: would see it. And on the flip side, it had
• 16:25
  Speaker 4: a gas station right next door. So when I was watching,
• 16:28
  Speaker 4: I'm watching people come in and they just making the
• 16:31
  Speaker 4: left turn right out or right to the gas station.
• 16:33
  Speaker 3: I'm like, the gas station is the place now that
• 16:36
  Speaker 3: they're gonna get.
• 16:37
  Speaker 4: They see the gas station because it's right because it
• 16:39
  Speaker 4: was a big glass you know door obviously, and it's
• 16:41
  Speaker 4: right there. Versus if that machine was placing in the lobby,
• 16:44
  Speaker 4: they just would have used the machine. Then nobody wants
• 16:46
  Speaker 4: to walk all to me over there if you ain't
• 16:47
  Speaker 4: got too only in the next show, right, So so
• 16:50
  Speaker 4: you know that's that's real iportant. It's important is is
• 16:53
  Speaker 4: it being visible and it being accessible to everyone? So
• 16:58
  Speaker 4: if everybody can use it, if it's visible, that that's
• 17:00
  Speaker 4: a good sign. Another thing I'm looking for is hours
• 17:05
  Speaker 4: of operation. So how long is this place open? Like
• 17:09
  Speaker 4: you said night shift? Some places open twenty four hours, right,
• 17:11
  Speaker 4: That gives you more selves versus it only being open
• 17:14
  Speaker 4: for nine to five, Like, so that's another that's another
• 17:18
  Speaker 4: cafeteria clothes now.
• 17:19
  Speaker 3: Right, So.
• 17:21
  Speaker 4: And then probably the last thing I'm looking for is
• 17:27
  Speaker 4: foot traffic, right, which is one of this is the
• 17:29
  Speaker 4: most important thing.
• 17:29
  Speaker 3: You want to see.
• 17:30
  Speaker 4: How many employees they got, how many people are visiting
• 17:33
  Speaker 4: this place, how many people are in and out coming
• 17:35
  Speaker 4: past this machine.
• 17:37
  Speaker 5: Yeah, one of the things you said, And as you
• 17:39
  Speaker 5: said it, I was like, wow, that's brilliant. Places that
• 17:41
  Speaker 5: have ideal time where people are just waiting. So I
• 17:43
  Speaker 5: would say that hospital, But when you just said laundry, Matt,
• 17:46
  Speaker 5: I'm thinking like, oh my gosh, yeah, like people are
• 17:49
  Speaker 5: sitting in there all day watching machines.
• 17:51
  Speaker 2: Though, No, laundry mats are big. Schools are big. Recreation
• 17:56
  Speaker 2: centers are big. Hospital is a.
• 17:57
  Speaker 3: Big, huge, and that's the number one.
• 18:00
  Speaker 2: Office buildings are big. Dorms dorms, college dorms. College dorms
• 18:06
  Speaker 2: are big. Yeah, yeah yeah.
• 18:10
  Speaker 3: And give give an example is Temple. We have a
• 18:14
  Speaker 3: Temple dorm.
• 18:16
  Speaker 4: God was doing business with that location that was around
• 18:20
  Speaker 4: thirty five hundred a month.
• 18:22
  Speaker 2: How many machine how many machines?
• 18:23
  Speaker 6: Who machines?
• 18:24
  Speaker 2: You know what I mean?
• 18:25
  Speaker 6: Cosge kids don't have a lot of money and they
• 18:27
  Speaker 6: don't have the transportation. So if you put the vend machine.
• 18:30
  Speaker 2: And that's that's you, that's your machines.
• 18:31
  Speaker 3: This these to those two are mind it's the guy. Actually,
• 18:34
  Speaker 3: I know we were talking a little camera.
• 18:36
  Speaker 4: So another guy, one of my first my first mentee,
• 18:38
  Speaker 4: I helped him find a spot and that was the
• 18:40
  Speaker 4: spot that we got.
• 18:40
  Speaker 2: Yeah, thirty five hundred. That's that's the bread.
• 18:43
  Speaker 4: Two machines to two machines, thirty five and then on
• 18:46
  Speaker 4: top of that, since that building is to build the
• 18:49
  Speaker 4: way built, it could be more machines placed in there.
• 18:51
  Speaker 3: And you said, there's a difference in what I mean.
• 18:53
  Speaker 5: The older machines don't have something that's very important that
• 18:55
  Speaker 5: you said, and that's the card readers, right, because now
• 18:58
  Speaker 5: a lot of people don't have cash, but they do
• 18:59
  Speaker 5: have cars to use.
• 19:01
  Speaker 4: So what we do is we'll take the older machines
• 19:03
  Speaker 4: and add upgrades. So we might change the door. We
• 19:07
  Speaker 4: might use what we call like the lead lighting, so
• 19:10
  Speaker 4: you know the little light strips. Put that in the
• 19:11
  Speaker 4: door makes it a little brighter. Yeah, and we can
• 19:13
  Speaker 4: add to car readers, but we would just have to
• 19:15
  Speaker 4: change what's in there. It's called the circuit board. Okay,
• 19:18
  Speaker 4: expensive circuit board cross about two hundred dollars. Car readers
• 19:22
  Speaker 4: are about four hundred, so you're looking at to use
• 19:25
  Speaker 4: that as about additional six hundred dollars. But on the
• 19:27
  Speaker 4: flip side, those usually increase yourselves by at least thirty
• 19:31
  Speaker 4: forty percent, Like, so you know it's worth for actually
• 19:34
  Speaker 4: getting those on there if you know you planning on
• 19:37
  Speaker 4: doing it on a serious note.
• 19:39
  Speaker 2: So, okay, so as far as installation, right, how do
• 19:43
  Speaker 2: you know which products to put? So you're just buying
• 19:46
  Speaker 2: a machine, and you can put anything in the machine, correct,
• 19:49
  Speaker 2: anything you want? How do you know which products do
• 19:52
  Speaker 2: you do?
• 19:53
  Speaker 5: Like?
• 19:53
  Speaker 2: Okay, I like three those? So like how do you
• 19:57
  Speaker 2: how do you know like which is a good product?
• 19:59
  Speaker 4: Way, that's as asking the question, because all right, So
• 20:02
  Speaker 4: my first location that I got when I when I
• 20:04
  Speaker 4: said it was only doing only a few a few
• 20:07
  Speaker 4: dollars or whatever I was putting in there when I like,
• 20:10
  Speaker 4: so I had what I like, I'm walking through Sam's
• 20:14
  Speaker 4: cub like okay, this is good, this is good.
• 20:16
  Speaker 3: But after a while it was like, no, you you
• 20:18
  Speaker 3: have to put in what they want.
• 20:20
  Speaker 4: So what I like to do is in my first
• 20:22
  Speaker 4: if it's an office building or something like that, I'll
• 20:24
  Speaker 4: use a newsletter and outside the newsletter introducing my services,
• 20:28
  Speaker 4: and I'll give them an opportunity to put to tell
• 20:29
  Speaker 4: me what they want in the machine. That's like step one.
• 20:33
  Speaker 4: Other than that, it really comes down to demographics like this,
• 20:37
  Speaker 4: certain certain demographics certain to go avocado closing. The certain
• 20:42
  Speaker 4: groups of people like like like certain things. So from
• 20:45
  Speaker 4: my experience, I know if I'm dealing with a mostly
• 20:47
  Speaker 4: like Carcasian group, they tend to like more of like
• 20:50
  Speaker 4: the plane chips and like for like it for the
• 20:55
  Speaker 4: Plaine tips, where though if it might be more like,
• 20:58
  Speaker 4: you know, the flavorful barbecue type. Yeah, man, it just depends.
• 21:03
  Speaker 3: It depends what you're at.
• 21:05
  Speaker 4: But it's it's definitely dust to always let the people
• 21:07
  Speaker 4: tell you what they want and the inventory you're actually
• 21:09
  Speaker 4: going to get.
• 21:10
  Speaker 3: Right, So, like you will go into these warehouses market.
• 21:14
  Speaker 2: I go to.
• 21:15
  Speaker 4: I go to Sam's Club, so I go to most
• 21:17
  Speaker 4: mostly shop at Sam's Club, but I do have a
• 21:20
  Speaker 4: warehouse that I go to to get products. Now, the
• 21:22
  Speaker 4: thing with Sam's Club is it's good if you're just
• 21:24
  Speaker 4: doing it like small scale, but if you're buying like
• 21:27
  Speaker 4: variety boxes and chips and whatnot. They're going to put
• 21:30
  Speaker 4: a few, they're going to put the good tips in there.
• 21:32
  Speaker 4: Then they're going to put like a they always do
• 21:35
  Speaker 4: that selection and that right, and that's the way that's
• 21:37
  Speaker 4: not going to sell. So when you're doing that on
• 21:39
  Speaker 4: a larger scale, you have to keep buying those boxes
• 21:41
  Speaker 4: and boxes. It's like, well, that's not that's that's losing
• 21:44
  Speaker 4: making me lose money. So when you get to a
• 21:46
  Speaker 4: certain point, you could just cut that out and then
• 21:48
  Speaker 4: if you go find a source.
• 21:50
  Speaker 3: You have to find a source.
• 21:51
  Speaker 4: You could just get the straight fire products, but if
• 21:54
  Speaker 4: you have to buy in a larger quantity, So that
• 21:56
  Speaker 4: box of Sam's Club comes in a box of thirty
• 22:00
  Speaker 4: most of the time, whereas though if I buy that
• 22:02
  Speaker 4: in the larger quantity, I got about sixty four boxes,
• 22:05
  Speaker 4: sixty four all one selection, which is going to cost
• 22:08
  Speaker 4: you more money because now you have to put that
• 22:11
  Speaker 4: that that variety box on it's gonna take about four
• 22:13
  Speaker 4: or five roads because it's different chips in there versus
• 22:15
  Speaker 4: it just being one whole box and one product that's
• 22:17
  Speaker 4: only one rower a product.
• 22:19
  Speaker 3: How often are you changing the machines weekly, weekly, weekly.
• 22:24
  Speaker 4: Yeah, so if I mean, if you're doing it more
• 22:26
  Speaker 4: than more than once a week, you probably need a
• 22:29
  Speaker 4: bigger machine. If you're if you're not doing it once
• 22:31
  Speaker 4: a week, you probably need a smaller machine.
• 22:34
  Speaker 2: And like, so, how do you know what to charge?
• 22:38
  Speaker 2: Because you can charge anything. I just found that out.
• 22:40
  Speaker 2: You can chuch anything on the prices.
• 22:41
  Speaker 4: Yeah, you set you set all your own prices. And
• 22:44
  Speaker 4: once again, it just comes down to demographics. It comes
• 22:46
  Speaker 4: down to the region, the area you you actually you
• 22:48
  Speaker 4: know working in I.
• 22:50
  Speaker 3: Know, earners. What's up?
• 22:52
  Speaker 5: You ever walk into a small business and everything just
• 22:54
  Speaker 5: works like the checkout is fast or seats of digital
• 22:58
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  Speaker 3: Sponsored by the United States Department of Homeland Security.
• 25:42
  Speaker 4: We're over here in New York, My candy bars are
• 25:44
  Speaker 4: going to be about two dollars, Like what if I'm
• 25:46
  Speaker 4: in Philly. Over there, it's going to be about one
• 25:47
  Speaker 4: twenty five. But the main thing I'm looking at is
• 25:50
  Speaker 4: I'm looking at my internal investment.
• 25:51
  Speaker 3: Like MYRRI ORR.
• 25:53
  Speaker 4: Yeah, So I'm like, if I'm spending X amount, I
• 25:57
  Speaker 4: want to at least double that. So at minimum, I'm
• 26:02
  Speaker 4: double when I'm paying for the products. But I'm actually, well,
• 26:04
  Speaker 4: I always try to reach like the triple. I tried to,
• 26:07
  Speaker 4: you know, get the three hundred percent mark what I'm
• 26:09
  Speaker 4: actually paying back, what I'm actually paying for the product.
• 26:13
  Speaker 3: So whatever I'm investing, I'm trying at.
• 26:14
  Speaker 2: Least if I buy a candy bar for a dollar,
• 26:16
  Speaker 2: I need to I need to charge three dollars. And
• 26:18
  Speaker 2: the vending machine just using that as like an exact Ye,
• 26:21
  Speaker 2: obviously you're not gonna charge three dollars for candy bar,
• 26:23
  Speaker 2: but I'm just saying.
• 26:23
  Speaker 6: They did that at my job.
• 26:25
  Speaker 5: Like I went to the vendor machine and the sixty
• 26:28
  Speaker 5: five cent bag of chips is now five dollars?
• 26:30
  Speaker 2: Is it really five dollars?
• 26:32
  Speaker 6: Say the picture?
• 26:33
  Speaker 2: I was like, no, this is a job impossible.
• 26:35
  Speaker 5: I'm gonna say the picture it was ridiculous. I'm like, wait, impossible,
• 26:38
  Speaker 5: I've seen the picture, no joke. I'm like, this is ridiculabs.
• 26:41
  Speaker 2: What kind of chips are the souths It goes no
• 26:43
  Speaker 2: sound chips.
• 26:45
  Speaker 6: How big is the bag of chip?
• 26:46
  Speaker 3: It's the sisty like the normal sixty five cent bag.
• 26:49
  Speaker 2: No, it's impossible.
• 26:50
  Speaker 3: It was like the two ounce bag. It's like one
• 26:52
  Speaker 3: point seven.
• 26:53
  Speaker 6: So I will send out the picture.
• 26:54
  Speaker 2: No, it's impossible.
• 26:55
  Speaker 3: That's crazy. But they do, you know, people do do that.
• 26:58
  Speaker 3: I mean, now, I've never seen five dollars I see.
• 27:01
  Speaker 2: It's like an airport.
• 27:03
  Speaker 4: Located like the airport or like the hotels, you could
• 27:06
  Speaker 4: really charge.
• 27:06
  Speaker 2: More foret Vendom machines and the airport. That's that's where
• 27:10
  Speaker 2: you make money. Airport prices is just ridiculous just because
• 27:13
  Speaker 2: it's airport.
• 27:14
  Speaker 3: Because now they got the Vendom machines that sell electronics.
• 27:18
  Speaker 4: So that's that's another thing I wanted to touch on too,
• 27:20
  Speaker 4: is like you could think outside of the box and
• 27:22
  Speaker 4: get creative.
• 27:23
  Speaker 3: You could sell anything out of the machine. You can
• 27:25
  Speaker 3: sell electronics.
• 27:27
  Speaker 2: Uh.
• 27:28
  Speaker 4: Somebody I found online was selling knickknacks out of them
• 27:30
  Speaker 4: in the in the airport and she was making eight thousand.
• 27:33
  Speaker 3: Dollars a year.
• 27:33
  Speaker 2: What what what's a knickknack?
• 27:35
  Speaker 4: So like the stuff that you know you might get
• 27:38
  Speaker 4: while you're in that city or whatever. Like there was
• 27:40
  Speaker 4: those little whatever, like the.
• 27:41
  Speaker 2: Little trunkeets and like little Welcome to l A I
• 27:45
  Speaker 2: love New York charms.
• 27:46
  Speaker 3: And stuff like that.
• 27:47
  Speaker 4: And she had like bought up T shirts in there,
• 27:48
  Speaker 4: like you know, making making good money, like just taking
• 27:51
  Speaker 4: outside the box.
• 27:53
  Speaker 3: I also see.
• 27:54
  Speaker 6: Nobody one but you put two thousand trying to do
• 27:57
  Speaker 6: it every time.
• 27:58
  Speaker 4: Right, Like so it's just a lot of different things
• 27:59
  Speaker 4: you could you could put in there if you could
• 28:00
  Speaker 4: really like get creative with it.
• 28:02
  Speaker 6: What's the craziest one you've seen?
• 28:05
  Speaker 3: Craziest one?
• 28:07
  Speaker 2: Do you have one on your page when Dubai and
• 28:09
  Speaker 2: they have gold bars?
• 28:11
  Speaker 3: Yeah? I never seen that one though, but yeah I've seen.
• 28:14
  Speaker 2: Yeah, yeah yeah gold bars. You can buy go bars
• 28:18
  Speaker 2: for pieces of gold.
• 28:19
  Speaker 3: I don't know why you want to buy it, but
• 28:21
  Speaker 3: you know that's just everything.
• 28:23
  Speaker 6: Let's go to the Vanda machine and get some gold.
• 28:24
  Speaker 4: Yeah yeah, but you know it's a lot of it's
• 28:26
  Speaker 4: a lot of crazy ones out there, man. I've seen
• 28:27
  Speaker 4: something where you selling water. I've seen pizza is a
• 28:30
  Speaker 4: piece of that.
• 28:31
  Speaker 5: There was there was an article about that they're putting
• 28:33
  Speaker 5: that on college campuses where it makes the pizza in
• 28:35
  Speaker 5: like ninety seconds.
• 28:36
  Speaker 6: Or something.
• 28:37
  Speaker 4: They had a planing d machine on college campus another
• 28:40
  Speaker 4: college campus.
• 28:43
  Speaker 3: And it's actually not for me.
• 28:44
  Speaker 2: Well, that's actually, honestly, honestly contraception machine. No, that's not
• 28:49
  Speaker 2: a bad idea. Now, that's the contraception machines are not
• 28:52
  Speaker 2: a bad idea. You have condoms.
• 28:53
  Speaker 5: They used to put them in a bathroom. Remember you
• 28:55
  Speaker 5: used to put a quarter and then you don't remember, No,
• 28:58
  Speaker 5: I haven't seen it. Hosts like you put a cord
• 29:01
  Speaker 5: in and get a contraception.
• 29:03
  Speaker 2: That wow, yeah, that is that even legal?
• 29:08
  Speaker 3: I know, I know they got him out there like
• 29:10
  Speaker 3: the like here weave and eyelashes.
• 29:13
  Speaker 2: So you know what, what about medical marijuana? Marijuana period?
• 29:16
  Speaker 6: That too?
• 29:17
  Speaker 3: They got those out in California, they got the America.
• 29:19
  Speaker 4: So I'm not exactly sure how those operate because you
• 29:22
  Speaker 4: know that's that's regulated. So you need I D and
• 29:25
  Speaker 4: whatnot security that machine probably, Yeah, that's a little different,
• 29:30
  Speaker 4: but they do have dudes out there.
• 29:31
  Speaker 5: What about vandalism, Like, if somebody destroys your machine, how
• 29:36
  Speaker 5: does that you have insurance on it?
• 29:37
  Speaker 6: Yeah?
• 29:37
  Speaker 3: I haven't.
• 29:38
  Speaker 4: I had that happen before once. But yeah, so basically,
• 29:41
  Speaker 4: if somebody destroys it, messes up. You just if you
• 29:44
  Speaker 4: got insurance on it, then you cover.
• 29:46
  Speaker 3: If not, you know, you can go through any insurance company.
• 29:49
  Speaker 3: Got close State Farm and literally.
• 29:52
  Speaker 4: I'm not sure if it's any I know State Farm
• 29:55
  Speaker 4: is one, but it's this regular regular insurance companies covered.
• 29:59
  Speaker 6: Is it crazy?
• 30:00
  Speaker 3: No, it's not price at all. It's not price at all.
• 30:01
  Speaker 2: You would recommend always having that, I would record.
• 30:03
  Speaker 4: I would definitely recommend having insurance. But the thing is
• 30:05
  Speaker 4: when you actually go through the process, but picking out
• 30:07
  Speaker 4: a good location, if you're meeting the criteria, it's hard
• 30:10
  Speaker 4: to do vandalism because if the machine is somewhere open
• 30:14
  Speaker 4: and somewhere is you know, it's if it's in that
• 30:16
  Speaker 4: and if a place is always you know, has long hours,
• 30:18
  Speaker 4: most of some of their security, and mostly nine times
• 30:20
  Speaker 4: out of ten that's that been the machine is somewhere
• 30:22
  Speaker 4: near that security, like wherever it's sitting at in the
• 30:24
  Speaker 4: lobby somewhere, so it's always gonna be somewhere where people
• 30:27
  Speaker 4: where people see it. And like it's always if it's
• 30:28
  Speaker 4: foot traffic, it's gonna be. If it's good foot traffic,
• 30:30
  Speaker 4: then people are always going to be around. So it's
• 30:32
  Speaker 4: hard to vandalyze.
• 30:33
  Speaker 2: Yeah, you know machines or some place with cameras like
• 30:37
  Speaker 2: a school or community center.
• 30:39
  Speaker 6: Mins.
• 30:39
  Speaker 4: Minds happened more so when I had it in that motel,
• 30:42
  Speaker 4: were talking when it's shut down. It was like when
• 30:46
  Speaker 4: I went back there, it.
• 30:47
  Speaker 2: Was over what's the what's the life span of a machine?
• 30:51
  Speaker 3: That's a great question.
• 30:52
  Speaker 4: I mean, I have some machines I haven't had any
• 30:54
  Speaker 4: issues with, like since I had and some of them
• 30:57
  Speaker 4: you get it's just like problems I had woman machine
• 31:00
  Speaker 4: in particular, that's it's always giving me a problem.
• 31:02
  Speaker 3: I actually switched it out recently.
• 31:03
  Speaker 6: What type of problems? Like the mechanical doesn't dispense the merchandise.
• 31:08
  Speaker 4: No, So a Bendom machine really is only about it's
• 31:11
  Speaker 4: about three parts. You got your your bill accepted. A
• 31:14
  Speaker 4: lot of people think like, oh what about that's that's
• 31:15
  Speaker 4: one of the questions. I get a lot too. What
• 31:17
  Speaker 4: about the cost of maintenance. I don't really mainten The
• 31:19
  Speaker 4: cost of maintenance isn't high at all. Like it's really
• 31:22
  Speaker 4: like it's rare that something goes wrong with those machines.
• 31:24
  Speaker 4: But you got your bill acceptor your coin mechanism which
• 31:28
  Speaker 4: is where you put the coins in and then you
• 31:30
  Speaker 4: have your your board.
• 31:32
  Speaker 3: So your board is like the thing everything.
• 31:34
  Speaker 5: Is connected to the press east four No, but yeah, basically,
• 31:38
  Speaker 5: but that that runs to a little board that's inside
• 31:41
  Speaker 5: of the machine, right, And those are the main three
• 31:43
  Speaker 5: parts that the coils and stuff don't really that.
• 31:45
  Speaker 4: Those are run by little motors, but those don't really
• 31:47
  Speaker 4: go bad. Those are typically okay with the with the
• 31:52
  Speaker 4: The thing that gets the most used is the bill
• 31:54
  Speaker 4: accepted because people are always putting the bills in there
• 31:56
  Speaker 4: or whatever. I probably switched that out probably ever, like
• 32:01
  Speaker 4: maybe like two years or something. But if you're if
• 32:03
  Speaker 4: you're taking care of the right way, you're gonna have
• 32:05
  Speaker 4: to do that. I'm bad at that part, but you
• 32:07
  Speaker 4: know you could have. You could order a thing off Amazon.
• 32:10
  Speaker 4: It's like a little sticky It looks like a sticky card.
• 32:13
  Speaker 4: You put it in there and then pull it out
• 32:15
  Speaker 4: and it pulls all the dirt and stuff out of
• 32:17
  Speaker 4: the the bullet accept that, which helps it keeps it
• 32:20
  Speaker 4: clean because what's in there is it's a reader. So
• 32:23
  Speaker 4: once that reader gets to like dirty or too like
• 32:27
  Speaker 4: you know, beat up, it doesn't work anymore.
• 32:29
  Speaker 2: So how do you all?
• 32:30
  Speaker 7: Right?
• 32:30
  Speaker 2: So the money you collect just you know you're going in.
• 32:32
  Speaker 2: But like the credit card that gets goals in that
• 32:35
  Speaker 2: process and that goes like directly to like a PayPal.
• 32:38
  Speaker 3: Account, it goes directly to the bank account, the.
• 32:40
  Speaker 2: Bank account.
• 32:43
  Speaker 3: Right in, but it goes it doesn't go right in,
• 32:45
  Speaker 3: it goes to.
• 32:47
  Speaker 4: That that service. It goes to that provider's account. Then
• 32:50
  Speaker 4: they have a payout and then they put similar to
• 32:52
  Speaker 4: what you.
• 32:53
  Speaker 3: Would use like what I can shop.
• 32:54
  Speaker 4: Yeah, like shoot your payout date and then on those
• 32:58
  Speaker 4: dates you get paid out for whatever card read of
• 33:00
  Speaker 4: seals that you had.
• 33:01
  Speaker 6: What about the process of buying and selling routes. I
• 33:04
  Speaker 6: know sometimes you said that if there is a.
• 33:06
  Speaker 5: Slow time, you might want to sell that machine or
• 33:09
  Speaker 5: sell that route, and talk about that a little bit.
• 33:11
  Speaker 4: Yeah, So I mean in the business, you know, obviously
• 33:13
  Speaker 4: the bulk, the bulk of your money is going to
• 33:15
  Speaker 4: come from you selling products out of your machine. But
• 33:18
  Speaker 4: it's also other ways to make money once you get going,
• 33:22
  Speaker 4: of which one of the best ways is, like you
• 33:24
  Speaker 4: just said, buying and selling routes. So I might like
• 33:27
  Speaker 4: for the perfect the perfect scenario or the best scenario
• 33:29
  Speaker 4: I had with buying, buying a route, and selling it
• 33:32
  Speaker 4: was I brought a route for thirty five hundred. Now,
• 33:36
  Speaker 4: originally the guy was trying to charge me like seven
• 33:39
  Speaker 4: thousand forward or something like that. I was like, no,
• 33:41
  Speaker 4: I'm okay, I'm not even really desperately, I'm not really
• 33:43
  Speaker 4: looking for anything.
• 33:44
  Speaker 3: But you know, he couldn't sell it. So he came
• 33:47
  Speaker 3: back to me. He was like, you know, I still
• 33:48
  Speaker 3: got this route. I'll give it to you for thirty five.
• 33:50
  Speaker 3: And I'm like, okay. So I'm looking at it.
• 33:53
  Speaker 4: It's six it's six Vendom machines, and it's three locations.
• 33:56
  Speaker 4: So I'm like, man's that's that's like a giveaway.
• 34:00
  Speaker 3: I'm like, okay, I'll take it for thirty five.
• 34:03
  Speaker 2: So I brought it.
• 34:04
  Speaker 3: I checked out the locations.
• 34:05
  Speaker 4: Two of the locations I didn't I didn't like, so
• 34:08
  Speaker 4: I'm like, okay, this location is bad, but it was
• 34:11
  Speaker 4: good machines in there.
• 34:12
  Speaker 3: The other location was bad. One location was good.
• 34:15
  Speaker 4: So what I did was I kept a good location
• 34:18
  Speaker 4: and I sold the other two locations for thirty five apiece.
• 34:22
  Speaker 4: So I ended up making a profit of seven thousand
• 34:26
  Speaker 4: off of that situation. So that's just another way to
• 34:29
  Speaker 4: make money on the back. And so if you're into.
• 34:31
  Speaker 3: Buying routes, you could just buy a route out. Maybe
• 34:35
  Speaker 3: you could you.
• 34:35
  Speaker 4: Could keep the machines, you know, sell the machines, or
• 34:38
  Speaker 4: you could just try to sell the machine on location,
• 34:40
  Speaker 4: which is easier to sell them if they already placed
• 34:42
  Speaker 4: like that that takes work off of the next man.
• 34:44
  Speaker 2: Is any way to get a machine for free, like
• 34:47
  Speaker 2: financing or pay it back on the back end through
• 34:50
  Speaker 2: money that you make and future or no.
• 34:53
  Speaker 3: It's a great question.
• 34:54
  Speaker 4: So you can rent machines from the same type of
• 34:58
  Speaker 4: people that I talked about before, as far as like
• 35:00
  Speaker 4: with the if you're going through a vending warehouse, they
• 35:03
  Speaker 4: do allow you to VNT machines. Sometimes if you look
• 35:05
  Speaker 4: online you can find some people that rent machines as well.
• 35:08
  Speaker 3: I don't really.
• 35:08
  Speaker 4: Suggest doing it because it gives you like an overhead,
• 35:11
  Speaker 4: you know, well, you know, if that's your way in,
• 35:13
  Speaker 4: and that's your way you you know what I'm saying.
• 35:15
  Speaker 2: But you can also.
• 35:19
  Speaker 4: Once once you get to a certain point in the business,
• 35:22
  Speaker 4: like like I mentioned before with Coca Cola and Pepsi
• 35:25
  Speaker 4: with one of the one of the programs that they
• 35:26
  Speaker 4: have is once you buy a certain amount of their product,
• 35:29
  Speaker 4: they give you machines, so but.
• 35:30
  Speaker 3: It has to be on contract.
• 35:32
  Speaker 2: So can you say, like buy their products, like you're
• 35:34
  Speaker 2: putting their sodas in your machines. So they got like
• 35:37
  Speaker 2: ten thousand dollars worth of coke.
• 35:39
  Speaker 4: It's not ten thousand dollars, but it's like it's definitely
• 35:42
  Speaker 4: a good amount, and you have to buy. You have
• 35:44
  Speaker 4: to you're committed to buying that amount at least at
• 35:47
  Speaker 4: minimum every month. But they'll give you the vending machine
• 35:50
  Speaker 4: for free because obviously it's helping them, it's helping you
• 35:53
  Speaker 4: move that product, you know. But that's the way to
• 35:55
  Speaker 4: get through vendom machines too, But that's not you probably
• 35:57
  Speaker 4: won't do that until, like you know later.
• 35:58
  Speaker 6: That about the the contracts, what are the typical links
• 36:02
  Speaker 6: of the contract? Is it like six months? Is the year?
• 36:04
  Speaker 3: About two years? I do two years two year contract? Yeah,
• 36:07
  Speaker 3: two two year increments.
• 36:08
  Speaker 2: So all right, Well that was a lot of information
• 36:11
  Speaker 2: for sure. So in the next second, we're gonna bring
• 36:14
  Speaker 2: you home, all right, so we're gonna close it out.
• 36:17
  Speaker 2: But before I got I got a few questions. So
• 36:20
  Speaker 2: all right, especially in schools with kids and stuff like that,
• 36:24
  Speaker 2: what's your thoughts on because it's childhood. PCD is a
• 36:26
  Speaker 2: big thing. So what's your thoughts on like junk food,
• 36:33
  Speaker 2: because you can have healthy stuff in there as well.
• 36:35
  Speaker 2: Obviously it's not as popular. Do you ever think about
• 36:39
  Speaker 2: that or Yeah.
• 36:39
  Speaker 4: That's something that actually comes up a lot of times
• 36:42
  Speaker 4: in the meetings when I'm talking to like the potential locations,
• 36:46
  Speaker 4: so they you know, they always want the healthy selections,
• 36:49
  Speaker 4: which I'm big on healthy selections anyway.
• 36:51
  Speaker 3: Definitely want to get people with choice.
• 36:53
  Speaker 2: So I like to put.
• 36:56
  Speaker 4: Half traditional and then I'll put half healthy. I try
• 37:00
  Speaker 4: the whole health thing. One didn't go that well, so
• 37:04
  Speaker 4: I definitely do. I do like like some of my
• 37:07
  Speaker 4: most of the time of Vendom machine will have multiple
• 37:09
  Speaker 4: rolls of like two roaster chips, two roaster snacks, and
• 37:12
  Speaker 4: then you have your candy roll whatever.
• 37:14
  Speaker 3: So on my top one, I'll make half.
• 37:16
  Speaker 4: Of that like big or something like you know, like
• 37:20
  Speaker 4: a power bar something like that, not not not for
• 37:22
  Speaker 4: the chips, but like this like something big, and then
• 37:26
  Speaker 4: once we get to like the snack and the candy roll,
• 37:29
  Speaker 4: I'll just make sure it's like some healthy stuff like
• 37:32
  Speaker 4: trail mix or be like a power bar. So just
• 37:36
  Speaker 4: something something that's you know, it'd be good for something
• 37:39
  Speaker 4: somebody grab quick that's still healthy for you.
• 37:41
  Speaker 5: And depending on where you're at right like that, you
• 37:43
  Speaker 5: have to take that into account as far as inventory,
• 37:45
  Speaker 5: because like you said, Philly got the sugar tax, right,
• 37:48
  Speaker 5: so when buying stuff, you got to take that into accounts.
• 37:50
  Speaker 4: And we also have also have an old people's home,
• 37:53
  Speaker 4: so you know in there, I can't put a lot
• 37:55
  Speaker 4: of sugar stuff. So it really just depends on where
• 37:57
  Speaker 4: you're putting that machine at, but it definitely, it'll definitely
• 37:59
  Speaker 4: always comes up in the conversation when you're placing the machine.
• 38:03
  Speaker 4: Is having healthy selections. Everybody, everybody wants healthy selections, and
• 38:06
  Speaker 4: I think that's more so a big wave now, yeah,
• 38:09
  Speaker 4: in the direction that we're doing as a as a
• 38:11
  Speaker 4: you know country as a country is getting more healthy
• 38:14
  Speaker 4: stuff out there.
• 38:15
  Speaker 2: So you know, yeah, you are the.
• 38:17
  Speaker 6: Food source for a lot of us, Like we don't
• 38:20
  Speaker 6: have a lot of us don't have time to go
• 38:21
  Speaker 6: out for lunch.
• 38:21
  Speaker 4: It's like, let me just got something quick, right, and
• 38:23
  Speaker 4: you want to make sure they get out the choice
• 38:25
  Speaker 4: to get something healthy versus having to get something you
• 38:27
  Speaker 4: know it's not.
• 38:28
  Speaker 2: Good for you. So like ramen, noodles and stuff like that.
• 38:31
  Speaker 2: I've seen that in there. I had those in there,
• 38:33
  Speaker 2: So like what's the what's what's your sweet spot? Like
• 38:38
  Speaker 2: you said, you don't like perishable goods for obvious reasons
• 38:41
  Speaker 2: because they expire. Just can't they expire?
• 38:46
  Speaker 6: Yes, it has an expision.
• 38:47
  Speaker 4: It's a long one though, yeah, a long like a
• 38:49
  Speaker 4: long time all right, It takes a while, but it
• 38:51
  Speaker 4: really it depends on the conditions, like your temperature and
• 38:54
  Speaker 4: all that. So if you in the summertime, snickers bar
• 38:57
  Speaker 4: in the sun ain't gonna last long because it once
• 38:59
  Speaker 4: it wants to sets most of the time. When it
• 39:01
  Speaker 4: resets into being like the regular form, it's like like
• 39:05
  Speaker 4: not really molded, but it's just like this colored and
• 39:08
  Speaker 4: it doesn't look at peeling for people to eat.
• 39:09
  Speaker 3: They're not gonna eat.
• 39:10
  Speaker 2: It, So you try to have your but it's always
• 39:12
  Speaker 2: inside though, right, try like air conditioned.
• 39:14
  Speaker 4: Most of the times it's But I'm also talking about
• 39:17
  Speaker 4: like storage, so that's where you're storing your too.
• 39:20
  Speaker 2: I never thought about that. You gotta store. Do you
• 39:22
  Speaker 2: store it or do you just do you just buy
• 39:24
  Speaker 2: it as you go?
• 39:26
  Speaker 3: I stored, but when I first started out just buying as.
• 39:29
  Speaker 6: I go, So your your liver was full of boxes,
• 39:33
  Speaker 6: you know, so I got a Halloween I.
• 39:34
  Speaker 4: Gotta spot in my career, WI like something similarly like
• 39:37
  Speaker 4: this area here, but like a little smaller. That whole
• 39:39
  Speaker 4: area was filled with snatch. But you know, if you
• 39:42
  Speaker 4: buy it that you go, it's a little easier. But
• 39:44
  Speaker 4: once you get it down to a science. So the
• 39:46
  Speaker 4: thing about buying that you go with you gotta take
• 39:48
  Speaker 4: trips to the store every week. Like so you really
• 39:50
  Speaker 4: want to figure out how much you need, so you
• 39:52
  Speaker 4: could just buy your month's worth and then have it
• 39:55
  Speaker 4: just sitting over there in the corner.
• 39:56
  Speaker 3: So all you gotta do is grab the stuff and
• 39:57
  Speaker 3: go fill up the machine versus multip making multiple with trips.
• 40:01
  Speaker 5: So a full time day is like all right, I'm
• 40:03
  Speaker 5: gonna schedule. I'm gonna go to this location to refill,
• 40:07
  Speaker 5: this location to refilled.
• 40:08
  Speaker 4: Yeah, so it's like all right, so I'll do my
• 40:10
  Speaker 4: day before our prep full up, all full up all
• 40:13
  Speaker 4: my my bens. I have bens that I carry the
• 40:15
  Speaker 4: products and full up all my bens. Pick the spots.
• 40:19
  Speaker 4: I'm going to just knock the spots down one bout one,
• 40:22
  Speaker 4: but I do, I'll pack everything the night before.
• 40:25
  Speaker 6: That's a one man show yourself. Yeah.
• 40:28
  Speaker 2: Wow, So I saw you saying like as far as
• 40:31
  Speaker 2: the the numbers on it, so it's like I think
• 40:34
  Speaker 2: it's like under six locations. Is it's well under six machines.
• 40:39
  Speaker 2: Let me see if I have it's run down something
• 40:41
  Speaker 2: like passive passive and dan, Yeah, can you explain that?
• 40:44
  Speaker 2: Like the numbers?
• 40:45
  Speaker 4: So it really now, honestly, it depends on your location obviously,
• 40:48
  Speaker 4: but we're talking about this standard average. Like if you
• 40:51
  Speaker 4: have around six machines, that's kind of still passive, like
• 40:53
  Speaker 4: that's not gonna take up too much of.
• 40:55
  Speaker 3: Your time and you know, you can still get whatever done.
• 40:58
  Speaker 3: Once you get to like.
• 41:01
  Speaker 4: Around like ten machines, you more so like on like
• 41:04
  Speaker 4: a part time type of thing, like if you was
• 41:06
  Speaker 4: working part time, because it's going to take up a
• 41:07
  Speaker 4: little more time as far as you keeping up with
• 41:09
  Speaker 4: your products and you go into your spots, depending on
• 41:12
  Speaker 4: how far your spots are. Once you get past like fifteen,
• 41:16
  Speaker 4: that's more like a you know, once you get like
• 41:19
  Speaker 4: fifteen twenty, it's like a real business, full time, full
• 41:22
  Speaker 4: time situation, and now you're now you're doing that full time,
• 41:25
  Speaker 4: like you're making you should be if you're doing the
• 41:26
  Speaker 4: right you should be making good money.
• 41:27
  Speaker 3: But that's going to take up a lot of your time.
• 41:29
  Speaker 2: So if you have twenty, if you have twenty machines,
• 41:31
  Speaker 2: theoretically you should be making like fifteen thousand around that
• 41:36
  Speaker 2: at least at least twenty on the good.
• 41:37
  Speaker 3: End, at least fifteen at minimum.
• 41:39
  Speaker 4: At minimum, you should at least be doing like ten
• 41:41
  Speaker 4: even if you don't have good locations, like you should least.
• 41:43
  Speaker 2: R ten of months right right now. The thing about
• 41:47
  Speaker 2: the Vendom machine thing is an interesting situation because it's
• 41:50
  Speaker 2: one of these things where I always say, it's never
• 41:53
  Speaker 2: about home runs. It's not about home runs in life.
• 41:56
  Speaker 2: It's about base hits. Like if you play baseball, you
• 41:58
  Speaker 2: gotta get base hits cansistently. And the Vendom machine thing
• 42:02
  Speaker 2: is like a base hit. Like even if you got
• 42:04
  Speaker 2: you know, a couple going and you're getting two thousand,
• 42:06
  Speaker 2: like that's that's two thousand, Like you know what I'm saying,
• 42:10
  Speaker 2: three thousand whatever. It's like, now that takes pressure off
• 42:12
  Speaker 2: of you. That's a nice passive stream of income. You
• 42:16
  Speaker 2: build that up, you know, however large you wanted to grow.
• 42:20
  Speaker 2: But it's one of these things that's extremely practical. Everybody
• 42:24
  Speaker 2: has seen vendom machines or used it or used it.
• 42:27
  Speaker 2: It's not rocket science, and it's not really that difficult
• 42:33
  Speaker 2: as far as to understand that. The general idea of.
• 42:35
  Speaker 5: It mak people thinking in mind like, oh, somebody spent
• 42:37
  Speaker 5: a dollar. Somebody spent a dollar twenty five. It's not
• 42:39
  Speaker 5: a lot of money, but enough dollars make sense.
• 42:40
  Speaker 2: Now, you know, it's not even about that. A lot
• 42:42
  Speaker 2: of times we just mentally priced off. We just mentally
• 42:44
  Speaker 2: psych ourselves out of everything. So it's like you see
• 42:46
  Speaker 2: a vando machine every single day. How many people have
• 42:48
  Speaker 2: ever thought about owning a vending machine? I've never thought
• 42:51
  Speaker 2: about it. You see it? Why not somebody owns it?
• 42:54
  Speaker 6: You're getting killed every single somebody owns.
• 42:56
  Speaker 2: It, Like you know what I'm saying, Like why not? Yeah?
• 42:58
  Speaker 4: And I think a lot of people shot away from
• 43:00
  Speaker 4: it too, Like even when they think about that idea
• 43:02
  Speaker 4: is like say're scared of like the maintenance that we think, Okay,
• 43:05
  Speaker 4: well I don't know how to fix it. But you know,
• 43:07
  Speaker 4: at the end of the day, you it's not it's
• 43:10
  Speaker 4: not too complicated but for any business, you're gonna have
• 43:12
  Speaker 4: hurders where you have to figure stuff out. It's no
• 43:14
  Speaker 4: different than that. Like, so once you once you get
• 43:17
  Speaker 4: it going and you run into an issue, of course
• 43:20
  Speaker 4: you have to. I mean YouTube is your friend. To
• 43:22
  Speaker 4: find a solution on YouTube, if not find a resource
• 43:25
  Speaker 4: to call in and just watch what they do, and
• 43:27
  Speaker 4: you know, and most of the time, you know, that's
• 43:28
  Speaker 4: that's how I how to fix me.
• 43:30
  Speaker 2: Yeah, they're like, I'm going to ask you that, like
• 43:31
  Speaker 2: do you fix yourself with you hire like mechanics that
• 43:34
  Speaker 2: specialize in the machine.
• 43:35
  Speaker 4: So for the most part, I fix on myself. The
• 43:37
  Speaker 4: only thing I really I can't fix is the refrigeration units.
• 43:41
  Speaker 4: It's called the compressors. So the compressors are a little
• 43:43
  Speaker 4: more complicated. I don't know how to fix those yet.
• 43:45
  Speaker 4: But like the build a sceptors and the coin mechanisms
• 43:48
  Speaker 4: like that, that type of stuff, I can fix those
• 43:50
  Speaker 4: because it's like it's just a common thing. And that's
• 43:53
  Speaker 4: most of the time, nine times at the tempt that's
• 43:55
  Speaker 4: what you're gonna be dealing with. If something goes wrong.
• 43:57
  Speaker 4: Most of the time, it's just like a dollar got stuck,
• 43:59
  Speaker 4: or maybe you're your bill, except the one bad.
• 44:01
  Speaker 3: It's just screw it out, put a new one and
• 44:04
  Speaker 3: screw it back in, like that type of thing.
• 44:06
  Speaker 2: What's the best what's the best item invented machine history?
• 44:12
  Speaker 4: Peanut Eminem's for snacks, for drinks, Pepsi and pepsi cells
• 44:20
  Speaker 4: like like nothing else whatever whatever you sell them with
• 44:25
  Speaker 4: everything else. Pepsi is gonna sell dumble pepsi self more
• 44:28
  Speaker 4: than coke, pepsi.
• 44:29
  Speaker 3: Something was or anything. Pepsi everywhere, like everybody I know.
• 44:33
  Speaker 2: Would do it more than water.
• 44:35
  Speaker 4: Yeah, your largest profit item is water, though you make
• 44:39
  Speaker 4: the most water for water.
• 44:40
  Speaker 3: Yeah, but pepsi sells like nothing else. Peanut eminem so real, well.
• 44:43
  Speaker 2: Too, what's what's your favorite?
• 44:45
  Speaker 3: My favorite? Uh, Skittles, starburs and m and ms.
• 44:50
  Speaker 2: I don't even know if I even had peanut eminem.
• 44:51
  Speaker 4: I don't like them personally. That's and that's what kind
• 44:54
  Speaker 4: of messed me up the first time. I was like, oh,
• 44:55
  Speaker 4: these ain't good.
• 44:56
  Speaker 3: But you know, when I was.
• 44:57
  Speaker 5: Stocking the combination of the pepsi and the peanut emon
• 45:01
  Speaker 5: but but but crunch butter crunch cookie sign you got
• 45:04
  Speaker 5: the machine though it should be those are smack.
• 45:07
  Speaker 2: Paydayd candy bars that's that's a niche thing. And oil
• 45:10
  Speaker 2: and vinegar chips that's another niche chip.
• 45:13
  Speaker 6: No, that's.
• 45:17
  Speaker 3: That's the tip that.
• 45:18
  Speaker 2: Gets niche oil because elite, that's the elite.
• 45:22
  Speaker 6: That's red bag of doritos.
• 45:25
  Speaker 3: Yeah, that's gone. Those are moving the black popcorn chip back.
• 45:29
  Speaker 3: That's another item.
• 45:31
  Speaker 4: The cooler ranch playing cooler ranch playing not really lays.
• 45:35
  Speaker 4: People like well and where I'm at, people like the
• 45:37
  Speaker 4: hers like playing herds.
• 45:40
  Speaker 3: They love those playing ships, Doritos, pretzels also pressures are
• 45:46
  Speaker 3: depending where they at.
• 45:47
  Speaker 4: But the doritos, the peanut min ms, pepsi, that's selling
• 45:52
  Speaker 4: no matter, no matter I call those like staple items,
• 45:55
  Speaker 4: Like those items will be in the machine no matter
• 45:57
  Speaker 4: which of them I see.
• 45:58
  Speaker 5: Sometimes the don't put like the them in one row
• 46:01
  Speaker 5: and then like put them at the next row too.
• 46:03
  Speaker 4: Just because because they sell, like because if you don't
• 46:06
  Speaker 4: do that, you're gonna run out, like so that that's
• 46:08
  Speaker 4: gonna run out before. It's like a pepsi And most
• 46:10
  Speaker 4: of the time you had two rolls of pepsi and
• 46:12
  Speaker 4: the because just because it's going to sell faster than anything.
• 46:14
  Speaker 3: You know, you have to come back once it sells
• 46:16
  Speaker 3: out right, you might even have to come back.
• 46:18
  Speaker 4: It's just going to sell out and then you'll be
• 46:20
  Speaker 4: you could be losing out the money if that person
• 46:22
  Speaker 4: only came to that machine.
• 46:23
  Speaker 3: If you get some peanut eminem's, they like, I don't
• 46:25
  Speaker 3: want nothing in the type of thing.
• 46:27
  Speaker 6: Are you moving into other things to put in a
• 46:29
  Speaker 6: venting machine?
• 46:30
  Speaker 1: Like it?
• 46:30
  Speaker 6: Is there other items that you see in the future,
• 46:32
  Speaker 6: like you know what, I might want to go that route.
• 46:34
  Speaker 4: No, I like, I like keeping it traditional. But I
• 46:37
  Speaker 4: do see you know, I'll see a lot of things.
• 46:38
  Speaker 4: You know, I'll see people coming up with that's real creative.
• 46:41
  Speaker 4: I see some celebrities coming out with different ideas. I
• 46:44
  Speaker 4: know Calie Jenner just launched like a Vendom machine with
• 46:47
  Speaker 4: one of them had the other one had like a
• 46:51
  Speaker 4: her makeup line, which.
• 46:52
  Speaker 3: I know is big.
• 46:53
  Speaker 2: That's not a bad idea either, make up little stuff
• 46:55
  Speaker 2: like that like chapstick and things like that where it's
• 46:58
  Speaker 2: like you want to run. It's not a bad idea.
• 46:59
  Speaker 2: But yeah, you're never gonna lose with beverages, especially beverages.
• 47:03
  Speaker 2: People always drink stuff candy. It's kind of like it's
• 47:07
  Speaker 2: like a no brainer in the words of Mike I'm
• 47:09
  Speaker 2: gonna did it to Candy. Yeah, they always gonna be
• 47:12
  Speaker 2: in business women.
• 47:14
  Speaker 7: My graduates from my school being forced bad drop bag
• 47:19
  Speaker 7: drop Mike, drop bad drop drops.
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