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NEW! Is Now the Right Time to Buy Gumball/Candy Machines for Passive Income?
Vending Millionaire? How Much Can I Make?
8 Ways to Pay For Your Vending Machines
Power Tips I Used to Locate 100 Machines in the last Year
Will I Need
Business Insurance?
Use your Home as a
Bank to Pay for Machines
How
Much Time will it take?
Optimum Route
Size
Figuring Your Cost Per Vend for Higher Profits
Quick Ways to Increase Sales, 1
Quick Ways to Increase Sales, 2
What Can I Sell in My Machines?
Hard to Vend Items
5 Things to think about Before Buying Machines
What Type Machines are Best?
What about Vending Locator Services?
Investing Your Tax Refund
Talking to Bankers
The Real Costs of Running a Vending Business
Grow the Person, Grow the Business
Great Business Reading
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Is Now the Right Time to Buy Gumball and Candy Machines for Passive Income?
Passive Income is one of the
most important elements of financial success. You can create passive income (or at
the very least mostly passive) through operating gumball and candy
machines. The question is
though, is this the right time with our economy in the shape
it's in?
Many people have
considered operating gumball and candy machines at one time or another.
I've heard several people comment, "Man, I should have done what you're
doing ten years ago when I was thinking about it - I could be retired
now!"
That may or may not be true, but many people fail to
act on good opportunities. I am NOT telling you that you should get into
this business - you need to decide that yourself and with professional
financial help. I can say though owning these machines can help you meet
your financial goals if you make wise decisions.
One of my
favorite things about the business is the passive income
aspect. My machines are making money for me passively as I
write this article for you. I don't have to be there for weeks at a
time - only to go pick up the money! Granted, there is lots more to
running the business and keeping things in order, but I still love this
passive (or at least semi-passive) aspect of the
business.
Here are some basic guidelines if you're
considering starting a gumball and candy machine business:
Don't overpay for your machines,
especially in these bad economic times. If you pay too much and cannot get
the business profitable enough, you have lost your investment. It is much
easier to become profitable if you have less investment in your equipment
on the FRONT END. Don't forget this!
Buy QUALITY
MACHINES - no plastic junk. This is a common mistake beginners
make. Broken machines then cause operators to be discouraged and quit.
Quality machines will have metal internal parts.
Look for
other operators going out of business. This is often the best way
to get into the business. Machines in a garage can often be bought really
cheap!
Look for existing routes that could be for
sale that are already making money. Verify all claims of income!!!
Typically if the operator is selling there are problems with the route so
be careful and get a professional evaluation.
Be careful
in EVERY financial decision you make in this challenging financial
time. Don't invest money you cannot afford to lose. Do not invest
money into something you don't understand either. There's more to this
business than pulling out hundreds of quarters out of a machine. There are
many hidden costs which must be factored in. It may in fact be wiser to
wait until this economic crisis has past. You will have to decide,
but you can educate yourself NOW!!!
Decide if you want few
or many machines. You can test the waters with only one or
two machines. If you are going to have many machines though you
introduce many more metrics into the business equation. This means
many more costs as you drive further and have other challenges.
Watch for my ebook to be released soon that will be a how-to guide
to operating a bulk vending business.
(C) Christmark Enterprises,
LLC.
Mark Evants. All rights reserved.
This
article for informational purposes only and not an encouragement to enter
into debt. Always seek the advice of a professional knowledgeable
about your specific situation.
SEE ALSO:
Financing Options
How to Talk to a
Banker
Investing Your Tax Refund/Stimulus
Check
Vending Millionaires? How Much Can You Make in
Vending?
5 Things to Think About Before Buying Vending
Machines
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