How To Value A Vending Machine Business – I’ve been hearing a lot lately about starting an automation side hustle and how it can be passive income.
Lakinia Francis from iKrave Vending is an expert in this field and earns between $7-10,000 per month and I interviewed Lakinia about how you can sell your car. Start a car business.
How To Value A Vending Machine Business
Today’s interview will help you get started and possibly introduce you to a new way to earn extra income.
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You can click here to learn more about the Vending Machine Business Online Training Courses offered by Laconia.
Hi, I’m Laconia from Miami, Florida. My education is pretty basic, I went to college at USF (University of South Florida) in Tampa FL, after graduation I came home and taught middle school and high school for 4 years. I decided to switch gears and start a more reliable job in state government. That’s when I wanted to find something!
To get started, I researched a lot of things that were realistic, affordable, and didn’t interfere with my day job. I discovered sales in 2016, when sales was not a popular topic. So one day I decided to buy some cars and go from there.
Of course, when you start a business without knowledge and guidance, you are forced to learn from your mistakes.
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I started with five used vending machines at a large tile manufacturer and mechanic shop in downtown Miami. I sold these cars after two years with extra space. I was able to sell the cars for the $2,000 I originally paid for.
Then there was a time when I didn’t have a car until I saw a new entertainment district in my hometown. The center will include a movie theater, bowling alley, restaurants and indoor entertainment venues.
I did the research, I got a project manager, I did the sales, and just like that, I did this big deal on eight cars. Since it was a big investment, I partnered with a family member to help cover the cost and keep the space for him.
This place has a huge crowd of young people and families every weekend, so it’s always full of people, these machines bring in an average of $7,000-$10,000 a month.
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With sales, everything depends on the right position! The main thing is to find a place where there are always people.
Over the next few months we will try to sell features. This is where you can really create great sales opportunities. My brother is an active angler and came up with the idea of putting out live bait and vending machines in Key West, Florida. That’s what we’re working on right now, of course finding the location is the most important part.
My main goal is to completely change my bait and focus on live bait and trolling in Key West and the other best fishing spots in South Florida.
It’s not 100% passive, but the best thing about the vending machine business is that the machine is your employee! You don’t have to worry about who to call or the traditional concerns about staff availability.
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Vending is a billion dollar business and will continue to grow, especially with all the features that automated and contactless vending machines offer.
Think for a moment about where you live. Cities grow every year.
How much does a slot machine earn on average per day? How much does a vending machine earn per month?
When it comes to how much you can earn from a vending machine, the first thing to consider is that the machine is placed in a place where there is enough traffic.
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If the car is in an area with good foot traffic, you should be making $500-600 a month. This is average.
Some places could be in production this week. It is about the movement of pedestrians in the place where the car is.
Sell the right products in the right place with thousands of vending machines per month!
When people think of vending machines, they often think of snacks and drinks. Although this traditional way of selling will always exist, there are many other options that can earn you a really good income.
Vending Machine Business
Imagine you’re on vacation on the south coast and you’ve forgotten your iron. The first thought would be to find a beauty supply store and buy it. But what if the hotel has a beauty vending machine? Flat irons, hair extensions, combs, brushes, hair gels, etc. You’ll just buy from the machine, right? Now think about how hotels in some cities are always booked, like Miami Beach. You can earn at least $1500 per month from beauty vending machine.
Another great place to put a beauty vending machine is a dorm room on a college campus. You can even add beauty accessories for men. Think about the number of students who don’t have a car.
Some other options could be linens, live bait and tackle, CBD, school supplies and more.
Let’s say you want to sell beauty products from your car. You can get a used snack machine and add a credit card reader to it for about $2,000.
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Now, if you want to label your car with a logo or brand colors, add an extra $500 to it.
If you want a new machine with all the bells and whistles, it will cost around $5,000, including a built-in credit card reader.
Office buildings, apartment complexes, laundromats, churches, summer camps, boys and girls clubs, schools, doctor’s offices, offices with at least 50 employees.
What is your typical work schedule? How many hours per week does it take to run a Windows machine business?
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Most people who own vending machines have a 9 to 5 and it’s a side hustle. The great thing is that it can be saved for just a few hours a week.
For example, parking five cars in two separate places will take only 2-3 hours. He goes to places and stops cars.
One thing to consider when looking for a location is whether the location is compatible with your work schedule. So if you work 9 to 5 and the deployment is 8 to 6, it might not be a good fit if you don’t have someone to help you maintain the machines.
You have to consider your schedule and ask yourself if you have time to go and park every week. Sometimes you try to park your car and it doesn’t work.
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Depending on the location of the equipment, the risk of damage may be higher. Although this is not a common occurrence. But that’s what insurance is for.
Another issue is that you have to share a portion of your earnings if the position is requested. In some places, such as a mall, you have to pay rent.
Slots make money from day one, but it takes some time to get a return on your investment. In fact, it lasts from six months to a year.
Overall, the Windows machine business is like any other business in that you can succeed with proper positioning and proper preparation.
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Then, based on that type of sale, you want to focus on providing a niche that fits that type of sale.
The most important part of the business is the placement of machines with high foot traffic.
You also choose which items to sell and where to buy them.
Do you have any other tips for those looking to start a vending machine business?
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Selling can fit into anyone’s life, regardless of age, economic status, or location. If this business model interests you, the biggest tip would be to start looking for potential vending machine locations.
The starter kit includes a course on starting a vending machine business. A course on how to find a position with a job offer and contract template. I’ve included a 30-day startup plan to help you set goals as you get started. There is a document on where to buy vending machines, including direct contact with dealers who manufacture the machines in the US and a financing offer for those looking for financing. Also included is a document on how to rate your product and where to buy it, with over fifty product examples. There is also a document on sales requirements in all states and how to set up a business in each state.
The standard package includes everything from the starter kit, but also includes a one-on-one consultation. Most people like to talk about everything
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