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Bulk32

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Everything posted by Bulk32

  1. Bulk32

    Convert Quarters to Cash

    That is what we do. Bulk bags for quarters with my bank. Credit union coin counter for the “extras”
  2. Bulk32

    Liquidating

    I don’t know if this needs to be moved or if it is in the right spot. I bought a huge route about a year ago that also came with a very large surplus of machines and parts. I have placed a ton of machines but I am wanting to downsize out of my expensive warehouse and the best way is to stop storing so many parts. We only use beaver, northwest, and northern beaver heads and racks (besides a few of the knock off A&A). Virtually all is used equipment but working. 100+ 2” heads mostly super 80 some northern Beavers. Most have .75 cent mechs ($75 each) 100’s of candy/ gumball/ toy wheels for both 2” and 1” ($10 each) 100+ .25 beaver mechs ($22 each) 100+ .25 Northwest mechs ($22 each) 50+ j stands with casters ($20 each) 100+ Brand 4 column sticker machines- majority on stands ($15 each) I have been talking to a local distributor that is wanting a fair bit of my equipment but wanted to try here first before going that direction. These prices are for pickup not sure what the shipping cost would be in addition. I am based out of Utah.
  3. Bulk32

    Liquidating

    .25 northwest mechs are for the super 60 .25 beaver mechs are for 1” as well.
  4. Bulk32

    Offering Data Entry And Route Planning

    Roadwarrior
  5. Bulk32

    Can I use commission as a business expense?

    Best to talk about any tax information with an accountant but yes commissions paid is very much a deductible expense.
  6. USD/ coins will not be replaced. It would be decades to even get to the possibility of replacing paper with coins let alone digital currency. Multiple reasons for it that I don’t have the time to get into. This also comes from a crypto currency investor (even though I have sold all of my coin as of beginning of January besides a little ICO) so I do have somewhat a belief in digital currency but not anywhere close to what the manics believe. Just to humor you if it were to happen for the most part, yes traditional bulk would be dead. You can’t invest $400+ dollars per machine (possibly per head) plus ongoing WiFi costs, plus transaction fees to sell a few pieces of candy.
  7. Bulk32

    How honest are you about how much goes to charity?

    Don’t have any charity stops. I have commissions at almost every place but also don’t put in anything smaller than a 5 rack at decent locations. When I bought the route I told my drivers to take out all charity stickers and let owner know we will service the machines but the money goes to the business, the old owner didn’t give money to charity and I won’t be dishonest and feel like I am stealing from kids. I didn’t get kicked out of anywhere.
  8. Bulk32

    Sam’s club closures

    All of you guys talking about huge sales or discontinued gum/Mike & Ikes. Did your Sam’s club get closed? They announced a couple dozens stores closing today.
  9. Bulk32

    Sam’s club closures

    “The closures also affect stores in New Jersey, upstate New York, Georgia, Illinois, Indiana, Ohio, Louisiana, North Carolina, Tennessee and Texas. In some locations, per social media, people showed up to work only to be told that their location was closing, with nearly no advance notice.”
  10. Bulk32

    Large routes

    They are usually the most trusted. I have never went that direction with any business thus far and probably never will. I can’t imagine needing to fire a relative if they were having trouble keeping up with the pace I wanted or worse. I don’t know if I have ever received more unasked for advice than this statement “never work with family”. Not trying to poor water on the thought I am sure it has worked in thousands of companies.
  11. Bulk32

    Large routes

    I couldn’t have said it better myself. In a major time theft situation with an employee myself which will be rectified soon. There was quite a bit to learn of the operation that I bought which was ran fully absentee for years and also had some unfortunate events with a separate business so I wasn’t able to get out and optimize or collect on routes for a few months. Well recently I had to run two routes that take this employee two weeks. I knew that I was going to be much faster but a situation came up that I only had 3 days to get his two weeks of routes done...............TOOK ME A DAY AND A HALF FOR TWO WEEKS THAT I PAY HIM FOR!!!! This driver does many overnights as well. Long story short, since the drivers have ran this company for years they have set their own bar. From the feet dragging of this employee the cost of his employment that was recently calculated is over $80k which has been going on for years with previous ownership (can’t say I’m not happy about it since the sales price was shredded impart by this with a fairly low cash flow number compared to sales). Anyways after the situation is rectified the company will be well off and it will be a good investment. It is almost a guarantee that you will not find the employee you are looking for even if it appears you found them.
  12. Bulk32

    Large routes

    Very few employees have the mindset or the drive to be in business for themselves. That said bulk machines come cheap enough that every new hire I would bring on will sign a noncompete. They are hit or miss on enforceability but I work hard enough that I won’t train someone to possibly take my clients. I have existing employees from when I bought the business that are not under an agreement but that is just what comes with it.
  13. Bulk32

    Large routes

    You have a point with medical for sure seems like the system gets more and more jacked up and increases 30-50% every year. In terms of vacation I have never had as much free time in my life as I do now. I am positive VendUSA is larger than me but thought I would jump in to the thread and give some insight too.
  14. Bulk32

    Large routes

    The biggest reason for me is how often locations must be visited. Many of our locations are visited every 60 days some more some less. That equates to much less employees, I found out quickly on my last business that managing employees is the worst part of owning a business. Don’t get me wrong there are good ones out there but 9 out of 10 will underperform, lie, steal, piss of clients, not show for work, etc. 1 person can run a 700+ location bulk business through a couple states. They would be running their butt off depending on concentration and almost defeats the purpose of getting into this business but would make a lot of money. I don’t run full line but I could only imagine the amount of drivers you would need for 500+ locations with how frequently they need filled.
  15. Bulk32

    how many different products to inventory

    I’ll get it down to 8+ mix but 98% of all locations are only 4 2” heads leaving still a fair bit of variation, even with a 9 rack running mix would supply almost 3 locations without product overlap. We have large grocery stores with multiple entrances, large “studio” style Hispanic sub spaces, etc that have multiple 9 racks mainly for keeping competition out but also they are large enough that if they park on one side of the building they will not go by the other enterance so the cost efficiency still works well. Also when you get to a certain size you burn through so much mix that holding onto a dud is not too high on the front of our mind. There are also certain locations you can designate to burn through lesser product even though the rest have been standardized.
  16. Bulk32

    how many different products to inventory

    I bought a large vending company and am downsizing the inventory as well. Our largest locations have 8 2” heads so I am getting it down to 8 now. We had 13-15 when I started and still am finding locations with 4-5 products I have never purchased or stocked.
  17. Bulk32

    FREE PRODUCT

    I have an employee that has a problem with giving away too much free product I discovered and have corrected but about a month ago I went into one of the locations and there was an employee asking if I could give her something (I can't remember what that one was) I'm sure I looked at her a little weird but said "I guess I can". I went on servicing the other machines and she came back over and asked if she could have a specific NFL team whistle???? My reply probably a little agitated " I apologize I need to get to a lot of accounts serviced, I don't have the time to look through a whole box of whistles for a team to give you". Of course it doesn't end there she then finds a Chicago Bears whistle 3/4 of the ways down my head, "well, just get me that one, the other guy gives us free stuff". the reply "well I'm his boss and I'm going to have a little talk with him, I'm busy and need to get back to work". I work too hard to give away free stuff, if it is an owner or good manager a little here and there is fine. Regular employees or customers that think they can come and ask........sure if you give me .50, .75, or $1. No way I would for a type of guy you are talking about in that type of account.
  18. Bulk32

    Flat vending

    Yeah .50 is pretty standard. There are very few places that you can buy stickers to make .25 profitable.
  19. Bulk32

    Flat vending

    Looks like a Brand to me I have about 100 I am debating on selling (mine don't have the two wings on the side). Great machines and easy to place with a rack, we just have a ton of them.
  20. Bulk32

    Local Vending Permit(s) Required?

    We service 2 states that require permits on either bulk machines or amusement. It is annoying but what can you do. One machine escaped being tagged in a Chinese restaurant and someone saw it and told the owner it must be removed immediately. You would think there would be bigger and better things to enforce now a days.
  21. Bulk32

    Patience with Northwest

    Everyone out there looking for other options with Northwest equipment may want to hold off. I don't know if they will be 100% full operation or what the details are but I have a very reliable source that is saying parts and machines will be available within a couple of months super 60s and 80s.
  22. Bulk32

    What's selling well in 2"

    Good to know about the spinners. I thought they may be dead with decline of fidgets but put an order in this week for some to try out so I can up my margins on some higher value product in high commission stops.
  23. Bulk32

    Large bulk valuation help

    I am as new as it comes to this business and wanted to reach out to see if I could get some information. I have recently sold a FedEx logistics route business due to many factors and have been looking for a different industry to get into. I have been vetting quite a few businesses including vending and it is a direction I want to go. I have found a bulk route vending company that has over 1,000 higher end machines that has come up for sale and am highly considering putting an offer in. My question is: on a larger vending business that has good financial records is there a set net multiple that you would use in valuing the company like a traditional business or is there a different way to valuation these businesses. I have familiarity with bread route valuation, Fedex route valuation, PF snack route valuation (ridiculous) but really wanted to hear from others who have been in the business for quite some time on this one . I have seen other smaller routes selling anywhere between 1-3x cash flow any help is greatly appreciated Thank you
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