sweetstop Posted November 15, 2011 Share Posted November 15, 2011 If all goes well in the next couple weeks I will be the owner of a bulk route with just over 300 machines and about 50 more to locate and add that the the dozen or so I have on route now. all in my neck of the woods, I will live smack dab in the middle of them all spanning about 60 miles south and north of me Working on the financials with my credit union this week. Its been in place for about 10 years so most are pretty solid locations, we'll see how each one performs. Gross is about 40K/yr Wish me luck! Link to comment Share on other sites More sharing options...
jj54 Posted November 15, 2011 Share Posted November 15, 2011 If all goes well in the next couple weeks I will be the owner of a bulk route with just over 300 machines and about 50 more to locate and add that the the dozen or so I have on route now. all in my neck of the woods, I will live smack dab in the middle of them all spanning about 60 miles south and north of me Working on the financials with my credit union this week. Its been in place for about 10 years so most are pretty solid locations, we'll see how each one performs. Gross is about 40K/yr Wish me luck! I DO WISH YOU GOOD LUCK, ILL PRAY FOR THE BEST FOR YOU AS WELL, IT SOUNDS LIKE IT SHOULD WORK Link to comment Share on other sites More sharing options...
mainor5251 Posted November 15, 2011 Share Posted November 15, 2011 good luck Frank Link to comment Share on other sites More sharing options...
Faith Vending Posted November 15, 2011 Share Posted November 15, 2011 If all goes well in the next couple weeks I will be the owner of a bulk route with just over 300 machines and about 50 more to locate and add that the the dozen or so I have on route now. all in my neck of the woods, I will live smack dab in the middle of them all spanning about 60 miles south and north of me Working on the financials with my credit union this week. Its been in place for about 10 years so most are pretty solid locations, we'll see how each one performs. Gross is about 40K/yr Wish me luck! Good luck Frank; seems 300 machines placed should do more than 40K/yr. Maybe they need a product update? Link to comment Share on other sites More sharing options...
antoniocinisi Posted November 15, 2011 Share Posted November 15, 2011 good luck!! Link to comment Share on other sites More sharing options...
TKK Posted November 15, 2011 Share Posted November 15, 2011 Good luck man....how much r u spending? And what kind of machines? Link to comment Share on other sites More sharing options...
sweetstop Posted November 15, 2011 Author Share Posted November 15, 2011 They are all triples, almost all are an older machine called evervend. similar to the vendstar but have all metal coin mechs because of his lack of documentation I have got him down to 20K, thats like $57 per machine not accounting for the locations of which 300 are located. I am sure I will have to pull some when I start but plan on an aggressive placement of as many of the extra ones as I can. I am nervous as heck but think its a pretty good deal. Thanks to all I dont post too often but read just about everything on here so I feel pretty educated. I am not new to the biz but 300 machines is going to be alot different then 30! I know good labels wont be an issue, haha Link to comment Share on other sites More sharing options...
Harvending Posted November 15, 2011 Share Posted November 15, 2011 They are all triples, almost all are an older machine called evervend. similar to the vendstar but have all metal coin mechs because of his lack of documentation I have got him down to 20K, thats like $57 per machine not accounting for the locations of which 300 are located. I am sure I will have to pull some when I start but plan on an aggressive placement of as many of the extra ones as I can. I am nervous as heck but think its a pretty good deal. Thanks to all I dont post too often but read just about everything on here so I feel pretty educated. I am not new to the biz but 300 machines is going to be alot different then 30! I know good labels wont be an issue, haha Link to comment Share on other sites More sharing options...
TKK Posted November 15, 2011 Share Posted November 15, 2011 Man ur going in head first I wish you luck 20k is alot. I say try to 15k Link to comment Share on other sites More sharing options...
sweetstop Posted November 15, 2011 Author Share Posted November 15, 2011 Man ur going in head first I wish you luck 20k is alot. I say try to 15k At one point he was asking over 50K then came down to 30K a talked him down from there. I think he realized without proper documentation history like tax returns etc. he was asking way to high. Once I get the go ahead from my CU I am going to try to get him down a little more and basically use the "I need to buy them at face value" because of the lack of history. The other thing is depending on when I would take it over he is not doing a final collection, which could leave me a potential of a couple grand in the machines. his dad is doing the route now but cant invest the time thats needed to keep it going. Link to comment Share on other sites More sharing options...
timberframe50 Posted November 15, 2011 Share Posted November 15, 2011 Good luck Frank, I'm hope all works out. Link to comment Share on other sites More sharing options...
Quickinvestment Posted November 16, 2011 Share Posted November 16, 2011 Wow, Good look. Let us know how it turna out up until the first pulls Link to comment Share on other sites More sharing options...
sweetstop Posted November 23, 2011 Author Share Posted November 23, 2011 Update Still working with my credit union on financing. So far so good hopefully will know this week, but they also said that last week, haha They are being cautious as to be expected. Link to comment Share on other sites More sharing options...
sweetstop Posted December 8, 2011 Author Share Posted December 8, 2011 Got my financing and getting ready to take the plunge !! Has anyone used or have a purchase and sales agreement that pertains to bulk vending. I was curious about the wording etc. I searched the forum but did not find anything. Also any advice on the terms prior to purchase? It has over 300 locs so it not really feasible to visit each one to verify. Also what about seeing the list of locations and income for each, he has been reluctant until we reach a final deal. any thoughts? Link to comment Share on other sites More sharing options...
mainor5251 Posted December 8, 2011 Share Posted December 8, 2011 congratulations Frank, I'm jealous Link to comment Share on other sites More sharing options...
timberframe50 Posted December 9, 2011 Share Posted December 9, 2011 Frank, when I purchased a large route the only thing I did was check out a couple of location. But the price was right. We kept the paper work simple, X number of machines on X number of locations, for X price. After the purchase a number of things were not as stated by the seller. Brand of machines, not all were as stated. Route had not been serviced in years. Many closed locations. Lost a percentage because of the lack of service. Had some that actually throw them away. But the price was right even with these issues. Do your due diligence and thing will work out fine. Wish you the best. Link to comment Share on other sites More sharing options...
havending Posted December 10, 2011 Share Posted December 10, 2011 Good luck on the purchase Sent from my Desire HD using Tapatalk Link to comment Share on other sites More sharing options...
lurtsman Posted December 11, 2011 Share Posted December 11, 2011 Good luck. That is a great price. Getting him to offer it for half of gross sales on a charity route is a little insane. I would've expected him to require at least 30k to do a deal. Link to comment Share on other sites More sharing options...
Bobomonkey702 Posted December 25, 2011 Share Posted December 25, 2011 How did things workout with route?? Link to comment Share on other sites More sharing options...
sweetstop Posted December 27, 2011 Author Share Posted December 27, 2011 should be taking ownership this week Link to comment Share on other sites More sharing options...
OldFart Posted December 29, 2011 Share Posted December 29, 2011 As a former Business Broker - I would suggest that you include a description of what you are buying in the Purchase Agreement. That is: A route consisting of some 300 locations (with address of each). The brand of each machine at each location. Seller to warrant the ALL machines are in proper operating condition at the time of closing. Now you will have some teeth for the possibility of a further reduced price for the package. A "Right of Offset" clause, stating the Seller agrees to reimburse Buyer $XX for each location or machine not in operation. It would not be unusual for you to require that 1/3 or 1/2 of your purchase money be held in Escrow until all factors above have been proven to your satisfaction. You would have to give a "reasonable" period for this inspection CYA! Good Luck! Link to comment Share on other sites More sharing options...
sweetstop Posted December 31, 2011 Author Share Posted December 31, 2011 Its official !! I now have over 300 locs Another 40+ in the garage ready to place Time will tell Thanks for all your support Link to comment Share on other sites More sharing options...
havending Posted December 31, 2011 Share Posted December 31, 2011 Its official !! I now have over 300 locs Another 40+ in the garage ready to place Time will tell Thanks for all your support Congrats now the work really starts. Sent from my Desire HD using Tapatalk Link to comment Share on other sites More sharing options...
vendman0729 Posted December 31, 2011 Share Posted December 31, 2011 wow thats crazy.......300 locations.......thats super awsome but i would be nervous as heck too about purchasing such a big route.........i bought a route of 7 uturns on location and the sales didnt even do 1/3 of what the guy said........i really hope this is not your case..........please keep us updated on if your pulls are on par with the sales he said Link to comment Share on other sites More sharing options...
West Coast Vend LLC Posted January 1, 2012 Share Posted January 1, 2012 You should have a lot of opportunity for growth in many of those 300 accounts. Singles could go to doubles, triples could go to racks, 2" capsule machines could be added to 1" machine locations. 25c Mechs could be changed to 50c mechs. Good luck and please let us know how it is going once you have a couple of minutes. Gary Sent from my iPad using Tapatalk Link to comment Share on other sites More sharing options...
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