Woplock Posted June 1, 2008 Share Posted June 1, 2008 Hello all. My business partner and I just picked up 10 brand new Altoids gum machines and 75 pounds of gum for $1,500 off of Craigs List. The guy that dropped them off said he paid $7,000 for them and never did anything with them. He said he bought them from a guy that paid $16,000 for them. I don't doubt that they are new, as they still have the paper instructions in each canister and they are in perfect condition. However, after he told me about the sudden depreciation of the machines I got a little worried. I did some searches here and on the internet but all I was able to tell was that Candy King went out of business because of some bz op scam involving the Altoids machines. Is there something I should be worried about regarding the 10 bargain machines that I picked up, or was it just the initial price for the first investors that was the problem? Link to comment Share on other sites More sharing options...
Summit Vending Posted June 1, 2008 Share Posted June 1, 2008 I saw an ad on Craigs List in Michigan for the same machines and he stated they dont make these machines anymore. Brian Link to comment Share on other sites More sharing options...
Summit Vending Posted June 1, 2008 Share Posted June 1, 2008 Also welcome to the board. Brian Link to comment Share on other sites More sharing options...
Summit Vending Posted June 1, 2008 Share Posted June 1, 2008 heres the ad Altoids. - $2100 (Detroit Area) [line] Reply to: sale-687363728@craigslist.org Date: 2008-05-19, 8:51PM EDT I will make this as short and sweet as possible. I am selling a vending machine business. It is an Altoids chewing gum machine setup where you have 10 machines (8 of which are BRAND NEW), filled with Altoids brand chewing gum in which you buy in bulk and sell at an incredible markup. Basically you source locations to place the machines such as nicer restaurants, bars, clubs, anywhere that is high traffic and poeple would buy the product. The possibilities are endless. You then collect the cash each month, deposit it, refill machines when needed, and thats the basic rundown. This requires a very outgoing person to be able to walk into a location and sell the business owner on the idea of having one of your designer vending machines on location. Most of the time you offer the owner 10-20 percent of your profits, or you donate 10-20 percent of the profits to a charity in their name. I am not interested in this industry anymore as I am moving on to something different and moving to Florida shortly. Business can bring in, with all 10 machines placed, profits from 200-4000 dollars in cash each month. Each machine holds 10 lbs of chewing gum and when emptied, comes out roughly to 410 cash in each machine. It all depends on the quality of the locations you place. HERES THE BEST PART.. I am included 80 lbs of gum FREE all brand new in sealed plastic in the boxes its delivered in. Therefore once you sell the FREE gum I paid for.. you will make back 3200 in cash. I am looking for 6500 cash for the business, BUT AM NOW ASKING 2500 (when brand new, 10 machines cost 16,000, machines are no longer being made by the company) If you would like more info please feel free to email me at Blutegra1992@hotmail.com. ***I am ALSO taking trades of ANYTHING of use to me such as cars/boats/jetskis/motorcycles. Just offer me and you may have yourself a business!!! Location: Detroit Area it's NOT ok to contact this poster with services or other commercial interests PostingID: 687363728 Link to comment Share on other sites More sharing options...
Woplock Posted June 1, 2008 Author Share Posted June 1, 2008 Thanks for the reply. I did read the ad when I responded to it and bought the machines. If the answers were in there I wouldn't have asked in this forum. What I am asking is if anyone knows if there is a problem with the machines in general or was the problem with the bz op inital investment related? Link to comment Share on other sites More sharing options...
Summit Vending Posted June 1, 2008 Share Posted June 1, 2008 Thanks for the reply. I did read the ad when I responded to it and bought the machines. If the answers were in there I wouldn't have asked in this forum. What I am asking is if anyone knows if there is a problem with the machines in general or was the problem with the bz op inital investment related? Oh..... I didnt realize these were the same machines that you purchased from this ad. Did you ask the seller any of the above questions before purchase......what was his response? From what I know of this ad it has been up for a very long time on CL in Michigan. Second who is the mfg of the machine? Can you get parts to fix these machines or be able to change out the graphics to sell something else. Third can you still purchase the product for these machines. These are the questions I would be asking. Good luck in your business and I'm sure you will learn alot from the people here. Brian Link to comment Share on other sites More sharing options...
Woplock Posted June 1, 2008 Author Share Posted June 1, 2008 I don't see any reason to change the graphics, as the base is shaped like an Altoids Tin, and I think that is what draws attention. I don't plan on selling anything other than Altoids in the machine. I can buy gum in bulk from Amazon and others, so that isn't a concern. I'm really just interested in what the problem was with Candy King and their initial offerings of these machines, not so much with generic vending issues. Thanks again for your help. Link to comment Share on other sites More sharing options...
25cent_smile Posted June 1, 2008 Share Posted June 1, 2008 The machines look great. Look for good locations and watch the profits come in. You can always find parts on ebay. Bryan Link to comment Share on other sites More sharing options...
Jax Snacks Posted June 1, 2008 Share Posted June 1, 2008 The machine should not be your biggest concern here, rather the product availability. I have been told by a locator (who happened to place many of these machines) that the product is no longer available in bulk by the original distributor. I would get on the horn ASAP and call who ever supplies (or used to supply this) and verify availability. The only other option is to buy at Sams but they only sell in the smaller packages and not in bulk. I have seen a number of Altoid machines abandoned at my locations - a red flag right there. The locator also told me that the margin is not very good due to the premium price you have to pay for the product. I do know that their machines also vends only 2 per quarter. Maybe this company was able to figure out the 2-fer wheel setup. Maybe DI vendors should get one cheap on Craig's list and check out their wheel. Good luck. Jax Link to comment Share on other sites More sharing options...
tengo Posted June 4, 2008 Share Posted June 4, 2008 Just want to add that I've seen these machines for a very long time in the business section of Detroit Craigslist. It's true he actually wanted around $6000 for it before and I emailed him a link to an ebay auction and told him his price is too inflated (the auction for one machine shipped was under $200.) Honestly, I don't think you should be worried that much, I think you would be able to get at least your money back if you sold everything on eBay (seperately.) But with the added gum as a bonus; go place em and sell them. Btw, if anyone's interested, I also have an ad on Craig's for a Rowe 440 food machine. I'll make a post around he if theres a classifieds section as well. Chris Link to comment Share on other sites More sharing options...
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