tritevend Posted December 1, 2010 Share Posted December 1, 2010 Im a newbie... heres my story: I bought a charity route of bankruyptcy! Originally I purchased approx 1100 machines at 600 locations! Machines ranged from penny gumball to 5ft .25 wizard machines! It was bought as is, with over 300 ford penny gumball machines! I have since liquidated many machines and turned the others into mainly all quarter machines! But yes, I do still sell a 1430 ct gumball for .10 and still have approx 50-100 .1 machines on the route. I know it hurts the bottom line, But i am getting there! One machine at a time! As stated, I also got 26 Wizards all on location at Hollywood video. I went to war over these with Ford gum! They are crooks! Talk about Biz-Op! I ended up retrieving some $$$s and some of the machines! But it was more headaches than it was worth! Like I said I hate Ford Gum! Currently, I have approx 600-700 heads currently in about 250-300 places of business. Mostly charity, some commission. I am looking to grow this number to the tens of thousands some day! I have used KSL a few times and so far am super happy with my results! I am 26 years old in a month and never worked for anyone. I am also college educated (shout out to Loyola University Chicago). I own several businesses including the vending gig. I love being an entreprenuer and can't wait to meet some more and pass on ideas with one another. What a wealth of information! These boards are great! It amazes me by reading all the posts, how some people just get vending and others still don't. Keep trying and keep working hard! Link to comment Share on other sites More sharing options...
mission vending Posted December 1, 2010 Share Posted December 1, 2010 WOW, what a story. Talk about jumping in with both feet without looking, into the shallow end no less... My hat's off to you sir, you have taken a potentially disastrous situation and it sounds like its turning into a pretty good business for you. Welcome to the boards and hopefully we will be hearing more about you adventures, past and future. Link to comment Share on other sites More sharing options...
will.vend Posted December 1, 2010 Share Posted December 1, 2010 welcome to TVF! sounds like you have had an interesting start! let me know if I can help! Link to comment Share on other sites More sharing options...
amakieve Posted December 1, 2010 Share Posted December 1, 2010 Wow, what a story... I'm getting into the biz and I'm considering buying up to 8 machines, lol... I guess I'm not as fearless as some. Welcome to the forum, we look forward to your comments! Link to comment Share on other sites More sharing options...
lak20019 Posted December 1, 2010 Share Posted December 1, 2010 Hey there, awesome to see another twenty something enter the vending biz! I'm 22 and going to UCF for business so here's to hoping this will be one of many successful business ventures! I only have 50 machines (all in various states, some on location, some not) so hats off to you for jumping into the biz in a big way. This forum is an amazing asset, utilize it, and you'll be set. So, welcome to the forum, hope to see ya around. Link to comment Share on other sites More sharing options...
tritevend Posted December 1, 2010 Author Share Posted December 1, 2010 Yeah the problem solving skills I have aquired are unbelievable... If my vending company has done nothing but provide me with these newly aquired skills... Ill never forget that day when the banker called. Telling me I hear you are an entreprenuer... I have quite the deal for you. He didnt even know what he had...He had 600 route cards--check scratch with location info-- i couldnt read, a tool box of keys; nothing labeled and a roomful of "extra" equipment! I figured go big or go home. In doing so, I didnt see much risk as I knew the machines were empty of product and filled with cash! AS-IS baby! I could have paid for my whole route had I just collected the machines and pulled them. I also could have sold all the penny machines i aquired to pay for the whole thing (300 x $100 ea retail if u have keys) But to become successful in the longrun, I know that I needed "cash flow"-- better believe I still owe 1/3 of the original debt and I am finally cash flowin! Now to elimante that bank payment and get rid of some more fixed costs! Then well reall be cookin! Link to comment Share on other sites More sharing options...
G-man422 Posted December 2, 2010 Share Posted December 2, 2010 Trite, that's a great story! Glad to have you here. Cash flow is what you need, so it sounds like you are right on track. Keep us updated and again, welcome to Vendiscuss Link to comment Share on other sites More sharing options...
NinnJinn Posted December 2, 2010 Share Posted December 2, 2010 WOW, You are one heck of a gambler IMO! But it is obviously paying off for you. Congrats! Keep us updated and Welcome to VD Link to comment Share on other sites More sharing options...
dperry Posted December 3, 2010 Share Posted December 3, 2010 As stated, I also got 26 Wizards all on location at Hollywood video. Hollywood Video has pulled out of Houston. Maybe it's just a regional thing and maybe they are still planning on operating on your neck of the woods. But you never know. You might want to watch for signs of them closing. I'd hate to lose 26 locations all in one swell foop. Link to comment Share on other sites More sharing options...
mission vending Posted December 3, 2010 Share Posted December 3, 2010 I think I read somewhere they were going to liquidate the entire chain. Link to comment Share on other sites More sharing options...
will.vend Posted December 3, 2010 Share Posted December 3, 2010 they filed for bankruptcy earlier this year and all of their stores in my area are closed. Link to comment Share on other sites More sharing options...
tritevend Posted December 3, 2010 Author Share Posted December 3, 2010 They all closed! I was not notified in advance and never even got my equipment! No one will help me! Ford Gum had 3 way contracts on all of this. I never signed anything. I shud have pulled the 26 immedietly and taken what was in them and looked for a new contract! I have about 20 Wizards sitting around. KSL places them for $100-- but there so big when you get there they just dont want them! Ill figure it out! Just wanna build this bulk route up and see where it takes me! Thanks for the advice! Link to comment Share on other sites More sharing options...
will.vend Posted December 3, 2010 Share Posted December 3, 2010 check on some laundromats in your area they will do good there Link to comment Share on other sites More sharing options...
mission vending Posted December 4, 2010 Share Posted December 4, 2010 They all closed! I was not notified in advance and never even got my equipment! No one will help me! Ford Gum had 3 way contracts on all of this. I never signed anything. I shud have pulled the 26 immedietly and taken what was in them and looked for a new contract! I have about 20 Wizards sitting around. KSL places them for $100-- but there so big when you get there they just dont want them! Ill figure it out! Just wanna build this bulk route up and see where it takes me! Thanks for the advice! First option, look up property owners and see if you can get in the location to get you equipment back. If that fails, figure a value of the equipment (say $1,000.00 for example) and then go to an attorney and explain the situation and tell him you need to get your equipment back. If he quotes you a price over that amount then I'd walk away. Link to comment Share on other sites More sharing options...
tedk Posted December 4, 2010 Share Posted December 4, 2010 Have you spoken to the bankruptcy trustee? If you can get in touch with them you may be able to get some help from them. Link to comment Share on other sites More sharing options...
Poplady1 Posted December 5, 2010 Share Posted December 5, 2010 What a interesting story of a brave business man. Good for you. I think you have come to the right place for some advice and you bring a lot to vendiscuss. It is going to be fun reading about your story. On the closed locations, it might take a little time but pursue it. Go to the courthouse and find out who the trustee is on the case and contact their office. Be sure to let them know it is your equipment and the business owner has no financial interest in your equipment. I am sure you have some paperwork from the bank that shows your purchase, that should be enough to prove your rights. Keep us all informed. Poplady Link to comment Share on other sites More sharing options...
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