I am trying to live up to the name as “ The Buble Gum King”.Just a quick update on the Altoid machines….since taken over I had one machine that was located in Detroit. Someone had the audacity to smash the machine open and grap a handful of @#$% quarters.
The most they could have gotten away with, if they got every quarter in the entire machine is $100.00. However they probably got way less. I was thinking, "Maybe the persons clothes were stuck in the Laundromat dryer and he needed a quarter" or..... "Maybe he was at the coin carwash trying to vacuum his car and the machine stopped half way through". I’ve been there. I felt like busting a few machines myself.
REAL TALK: THIS GUY LIVES IN THE AREA AND GOT CAUHT STEALING MACHINES AND MONEY. CLICK THE PHOTO FOR THE STORY. THEY SAID HE'S BEEN HITTING ALOT OF MACHINES. IT COULD HAVE BEEN HIM.
Needless to say, we pulled the machine out of that joint and repaired it for $36. A quick call to the parts place (the number is on a sticker affixed to the machine) and the parts arrived in the mail. That machine is still not located anywhere, so it’s not making any money right now.
The other machines are doing well. What’s well?
Let's look at the numbers shall we:
I have one machine that does about $100 every 8 weeks ($12.5 per week)
3 machines that do $100 every 16 weeks. (6.25 per week) X 3 = 18.75
So, on average the machines earn approximately $31.25 or $125 per month.
Every 16 weeks or every $500 I have to collect money. $340 of that gets pocketed and $160 goes to buy more gum. It takes me approximately 2 hrs. to visit the machines and refill; that comes down to
$170.00 / hr. or $42.50 / Month
Not Bad at all. Not to mention all the Altoid Gum a guy could want. (Don't Worry it's Sugarless)
5 comments:
Maybe I missed the post where you mentioned getting into the gumball business. Did you write one?
The main thing Im curious about is if you bought an existing "route" or whatever its called or if you bought the machines themselves and went about placing them in locations yourself.
I am just curious...I know there were some quarters taken, but what would a Meth user do with gum? It's not like he has teeth to chew it!
Hello Anonymous,
A few months back I posted a summary of the vending machine business.
I brought the machines on craigslist. They were already placed in stores and filled with Candy. The owners were just trying to get out of Michigan and didn't want to go through the hassle of uprooting the machines and finding them new homes so they sold them all for $1000.00 cash including the gum. It was a napkin receipt - Cash Deal. So far so good.
MJL
Hey Chelle,
You are right about that.
Sorry I missed you in Michigan, Wednesday bar nights are rough for me. I will catch ya next time.
MJL
Well at looks like you are doing it like Robert Kiyosaki teaches. Invest in assets. The gumball machines are a great source of passive income. Its a business that makes money without you having to be there - much. Sure, you're not setting the world on fire with it, but you just need to do more things like that. Keep it up.
Bodrie
www.GlobalWarmingFactFinder.com
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