Step 19 - A few more bucks!

Ok, now that my sad news is out of the way, I have discovered a new way to make a few bucks. At this point it looks like about $40-50 a month.

I manage a small takeout/delivery restaurant. In that restaurant we sell 20oz sodas for $1.49. My employees simply steal them at that price as they figure they deserve a discount and the corporation does not allow discounts on sodas. I was in the Sam's club the other day and discovered I could buy 24oz sodas (same brand as I carry in my store) for .10 cheaper than my store pays for the 20oz directly from the company.

I bought a case and took it back to my store, my employees now buy my 24oz sodas for $1 each. When the entire case is gone, I make $8 profit. Thwy went through the first case in three days. If they keep that pace up, I could feasibly make $80 a month, with no shrinkage. I figure for a bit of shrinkage and some slow days to make me $40-50.

Hey, every little bit helps!

I also collected another $20 profit from one of my smaller vending machines.

Step 19 - Bad Karma strikes again

Well, remember that car that was towed away? It seems that there is a process they go through to get rid of the car. After all was said and done, the car sold for $700 less than the storage fees it incurred sitting on the lot. Therefore, I am now liable for those fees. $700! Ouch, what a lesson this whole fiasco is turning out to be. Sooo... guess my stake just took a $700 dive. I sold my silver and paid the rest.

Another step back and another lesson learned, oh well...

Article: Vending Machines

Flip over at The Double Challenge asked a few questions about vending on my comments. They were very good questions for anyone thinking about vending.

Vending is a great starter business. It is cheap, easy to maintain, easy to build upon, and an all cash business. Finding a location is the hardest part, you can either hire a professional locater or go out and find them yourself. There is one more option but it tends to be more expensive. That is buying existing routes already set up on location.

When buying an existing route you might think they are being sold because they are not making any money. Usually, that is not the case. They are usually sold because the owner needs quick cash, is moving, is starting another business venture and doesnt want to deal with it anymore, or any other number of reasons. As with any other business, ask for proof of what the route makes and try not to pay any more than what it brings in in a year.

Filling the machines yourself is the easiest and most profitable way to run the route. You can pay someone if you like, but you have to pay them and trust is a very important factor in vending as the cash is very accessible.

I hope that helps, I'm not an expert, as I just started out myself not long ago. This post is a result of my own research from both the net and other vendors I have talked to. Have fun!