Here's how you can start your very own vending machine
business in just five easy steps let's hop right in
hi everyone i'm back it's me jazzy mac thank you so much for tuning in today because i am super
excited to talk about this whole vending machine business because listen there are people that look
just like me and they look just like you that are bringing in 100k per year with vending machines
this is the easiest best form of passive income because not only can you do it for yourself but
this is something you can do with your kids and so for me personally i've already started the process
of getting my nieces their very own vending machine because listen they're like 10 and 11
but uh they need a style hustle too and they need to start making their money and they need to start
understanding how to build wealth your kids are never too young to understand building wealth and
being their own boss because if i have anything to do with it they are not going to be 65 years old
still taking orders from someone so let's talk about what that looks like and the five easy
steps that you can take right now to build your vending machine business and how you ultimately
turn a profit from it so the first thing that you want to do and i want to be very clear about this
the first thing when it comes to having a vending machine business is not to go out and buy a
vending machine that is the the biggest rookie mistake that you can make the first thing that you
want to do is actually establish your business because once you start making money from the
vending machines you're going to have to report it to the irs and you don't want to co-mingle your
business profits with your personal money you have to be established and nobody is going to
let you put a vending machine in their building if you are not established now the way that you
establish yourself is to start with getting um an ein which is going to be your employee id number
and in addition to this this is basically just a social security for your business right it's a
social security number for your business and then you want to form your business either with an llc
and s corp c corp whatever i highly recommend starting with an llc now the way that you get
your llc is going to be through your secretary of state it generally costs about a hundred dollars
to do the application process and it only takes a couple of days for you to establish the business
and so that you're ultimately registered with the state as an actual business now a lot of people
will sometimes like pay places like rocket mortgage um i'm sorry rocket lawyer to establish
an llc for them it's something you can do as a convenience but it's not like super necessary
because you can just go online and do the paperwork yourself trust me it takes like
10 minutes it's just not a lengthy process so save your coins now once you ultimately get
your llc and you've got you know a business bank account set up for your business um
and you know you've kind of done like those basic steps uh the next thing that you want to do um
is set up your business profile in the sense of a website um and some social media because once you
start to market yourself or once you start to go into different places to say hey i want to
put my vending machine here people are going to want to be able to do a little research on you
so again we're not spending a ton of money right here when it comes to building a website we're
going to go on fiverr we're going to find somebody to build us a 50 website on wix
and we're going to throw up some pictures of ourselves we're going to throw
put a little background information about ourselves and we're going to keep it real
cute and classy and we're going to just have our website ready to go for when we start this whole
vending business so all you have to do is go to fiverr.com you can put website into the search
box and you want to just do a basic website they some of them do it for less than that some of them
will do a website for you for 20 bucks so don't go out here spending thousands of dollars on websites
that's your plug you're welcome now once you have those things and you are fully established that's
going to be pretty much your first step one your step two is going to be finding the location
i cannot stress enough how important it is to find your location first before you purchase
the vending machine you have to find the location because you want to make sure that that location
has good foot traffic it has visibility it is in a safe location that people will feel
comfortable going to so this is going to be in the form of office buildings it could be schools
um it could be hotels it could be inside of a gym or a recreation center it could be inside of um
like an office in an apartment complex but you just want to make sure that this is going to be a
high traffic area that people can easily see your vending machine and easily be able to access that
vending machine um either during business hours or if you decide to place it in a place like a hotel
that is 24 7. so make sure if you're if you're saying well i don't know where where to find
a location there's a couple of different ways you can do this you can either hire a service to help
you locate like potential vending locations um the paid locators are like usually a hundred to maybe
two hundred dollars per month to basically pick up the phone and call call people and say hey can
we place a vending machine in this location it is much cheaper if you were to just you know network
with people um you know hand out your business card and say hey i'd like to put a vending machine
in your business um how do you feel about this it is better to do that face-to-face contact
than it is you know like paying someone else and plus you get to check out the locations yourself
so once you've found your location the next thing that you're going to do is you want
to make sure that you get a contract in place to put that vending machine in that location because
you don't want to spend a whole bunch of money buying the vending machine and then the person
that owns the location says you know what i changed my mind you know if you were going
to put it in a mechanic shop or in a hospital and all of a sudden they go no that's okay you don't
want that to happen you want to make sure that there is a contract in place um that says that
they agreed to let you have that machine there for a certain amount of time now the fourth step
this may feel counter-intuitive but the fourth step is where you actually buy the machine now
when you buy a machine i would not recommend going out and buying these expensive machines
you can literally get machines off of craigslist you can get them off of ebay you can get them off
facebook marketplace i've literally seen vending machines go for as cheap as three hundred dollars
now if you buy it brand new they might go into the two thousand three thousand four thousand dollar
range but you want to make sure that you at least do your due diligence to look for gently used
machines um or it could be you know a building that went out of business and they're just
trying to move the machines sometimes you'll find where people are like here just take the machine
here you can just give me a hundred bucks for this machine i just want it gone
you can find machines like that where people are really in a rush to get the building cleared out
and again facebook marketplace is also a good place to look for machines but you want to decide
if you're going to do a snack machine with chips and candy or if you're going to do a soda machine
or or if it's going to be combination perhaps you want to sell cold sandwiches those machines
do really well in places like hospitals um you know dental offices things of that nature so
do your research and decide what sorts of products you want to sell in that machine
and the fifth step is going to be where you actually place the machine in the location
and you load it so make sure you understand if you're going to require you know some sort of
assistance you know placing the machines because they are heavy whether you're going to need
equipment or if you're going to pay a service such as a moving team to come in and bring that machine
or deliver that machine to the location that you want to have that machine so when it comes to
so those are your basic steps but when it comes to the actual like profitability part of it you want
to make sure that you're not going to like publix or kroger's and buying your supplies from there
and then loading it into your machines because you got to think about your profit margins
you don't want to buy high and sell low you want to ultimately buy low and sell higher and this is
how people are able to turn a profit of you know 500 a week from a machine because they're buying
things in bulk from places like costco or from wholesalers there are vending machine wholesalers
that are strictly for people that want to fill up their vending machines so you want to make sure
that you are going to those sorts of vendors because this is where you're going to probably
get the best price but this is also where you're going to be able to get information about which
products sell the best because you don't want to put a whole bunch of snacks like doritos
um into a vending machine for a fitness club or for you know a health conscious place because
these people are going there to eat better or you know whatever like they don't want to see a bunch
of unhealthy snacks so depending on where you place your your machine you want to understand
the demographics of the type of people that are going to be entering in and out of the building
and ultimately passing by your machine now if it comes to like a high school or something like
that then yeah you can probably put more junk foods like skittles or m m's you know things
that kids tend to want to snack on throughout the day those are things that you'll also want
to be conscious of as you think about you know the demographic and the type of snacks or the types of
beverages you ultimately have in your vending machine so once you've got one and it's profitable
and you know it's easily maintained then once you start making that profit you can definitely go
into um adding more vending machines right now some people say well once i make my first
five thousand dollars i'll just sell my vending machines because i just want to make enough money
to buy something for my house or i just want to make enough money to
you know send my kids to camp and they sell it so there are a bunch of people that will
either say um i want to scale my business and add more locations and these are the people that make
six figures from vending machines and there are also people that say you know what once
i've gotten a certain number i just want to sell them off and then i want to start mentoring other
people of how to start these businesses you know so it's totally up to you but this is probably
one of the easiest ways for you to just earn that passive income for you to introduce your kids to
um passive income and to being their own boss so please let me know if you've ever actually had a
vending machine business and if you have ever you know scaled the business because there's a lot of
big names out there of people that are making six figures with vending machines and the best part
is it's not even that much work like seriously you could like work just a few minutes a week to
reload the machines and then you go back home and you collect your profits trust me this is probably
the best sort of like side hustle that anybody can start out with so let me know how it goes i've got
links below in the description box for where you can go to kind of search for these machines and
how you can kind of like find resources for them so until then i will see you in the next video bye
you