CCVend Posted March 28, 2014 Share Posted March 28, 2014 I am in information overload! I have been on this forum for about 4 hours a night for the past few nights, and now I am so confused. I have so many questions. I don't have any machines yet, I am still in the research phase. I was going to try to do this part time as a way to supplement my income. After reading so many posts on here, I am now wondering if this is the right thing for me to pursue. Can I make money in the bulk vending business? When I check my machines at the end of the month, is the money in the machines my payment for the month? Is this my "take home pay"? Is this my money to spend on anything I want (personal bills, clothes, etc.)? Or, does this money have to go into a business account to use towards any other machines or products I would need to purchase in the future? Also, how does the IRS factor into all of this? I sorry if it seems like I'm rambling, but I am at a total loss right now. Thank you for any answers, advice, etc. Link to comment Share on other sites More sharing options...
FrCorey Posted March 28, 2014 Share Posted March 28, 2014 yes. with the right products and locations. yes, it is your money, after you pay the commissions if any and supplies and equipment, the money is yours. I suggest putting most of it back into the business thou. your machines are silent salesmen. they sell your products and drop the cash into the cash drawer. course once in a while, your salesmen are kidnapped or robbed, but that is part of the business. Link to comment Share on other sites More sharing options...
Bravo Duck Posted March 28, 2014 Share Posted March 28, 2014 If you have any doubts right now, Don't do it! The vast majority of people who try bulk vending get back out, in the process losing time and money. Right now you're ahead of those people who just jumped in and spent a few hundred to a few thousand dollars and months to years of their time just to realize that this is hard work and there's not that much money in it. It takes a lot of locations to make any decent money at this so either you need a lot of capital to get going or it will take you years of reinvesting everything. Most people don't have the patience for that. I've bought hundreds of machines over the last several years from people who would have been better off not trying bulk vending. Link to comment Share on other sites More sharing options...
sweetstop Posted March 28, 2014 Share Posted March 28, 2014 As with any business venture it takes time and money the more money you take the slower you will grow, the choice is really yours, thats part of the beauty of this type of business. if you are looking for some quick cash on the side this probably isn't the right thing but in time it can reward you with a steady little part time income. IRS - if its just a side thing you can file a schedule C as a sole proprietor with the income you claim and deduct your expenses. Consider trying to buy an existing route and create cash flow immediately. ive seen routes from 2 machines up to 100 or more in my area at different times. if you dont see any listed, next time you see a machine when you are out jot down the number on it and give them a call, you would be surprised what people may be willing to do. Good Luck! Link to comment Share on other sites More sharing options...
Rick Posted March 28, 2014 Share Posted March 28, 2014 If you have any doubts right now, Don't do it! The vast majority of people who try bulk vending get back out, in the process losing time and money. Right now you're ahead of those people who just jumped in and spent a few hundred to a few thousand dollars and months to years of their time just to realize that this is hard work and there's not that much money in it. It takes a lot of locations to make any decent money at this so either you need a lot of capital to get going or it will take you years of reinvesting everything. Most people don't have the patience for that. I've bought hundreds of machines over the last several years from people who would have been better off not trying bulk vending. This is really very good advice. But CCVend, to answer your question...no. The money in the machines is not yours. A truer representation of that is what's left in your pocket the hour BEFORE you service machines; that's yours. You've bought the product you need, spent what you needed replacing parts, fixing coin mechs, gassing up your vehicle and taxes are paid. That's the "Luxury Tax" space on the Monopoly board, after everything has been paid just before you pass "GO". That's yours. A bit depressing - don't think about it very long. Link to comment Share on other sites More sharing options...
CCVend Posted March 28, 2014 Author Share Posted March 28, 2014 Rick, the way you have broken that down makes sense. Any other advice from anyone would be helpful and appreciated. Link to comment Share on other sites More sharing options...
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