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@quinnjmiller
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ATM & Vending Machine Owner/Operator | Currently Building my SMB / RE Portfolio
California, USA
Joined January 2016
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Have questions about vending?
Here's an updated 🧵 of my most popular & insightful tweets on the subject
Dive in & learn 🤠
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I own a $780,000 property in san diego
it cash flows $700 a month
I own a vending machine that I bought for $300 & placed @ a cheap hotel
it cash flows $600 a month
I love real estate, but damn
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lets talk about micro-markets aka, my mini 7-eleven
4 months ago, i installed this
$10k investment
new concept for me, so a decent sized bet
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Just signed the contract - I now own an ATM biz
7 locations
9 machines
Purchase price: $20k
The biz nets $22k a year & has 5 year contract in place at all locations
This was a slam dunk deal
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Good morning to all those who sold their home in 2020 for $800k & now its worth $1.5M
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my grandpa used to build apartments & shared a funny strategy w/ me:
you generally have to pay an extra $50 a month to have a dog
most people are honest, but some aren't
so what did his company do?
sent an email out to all the residents asking for a picture of their dog so
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Go to lowes & buy a power washer for $200
Post an ad on craigslist & Facebook marketplace
Grind
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First warehouse location secured✅
150 employees
Route has now ballooned to 30 machines (added 1 elsewhere)
Will be doing $20k a month in no time🤠
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i rent a townhome for $3500 a month
same townhome down the street is for sale
$799k
mortgage on this w/ 20% down is $5,300 (HOA included)
rent zestimate is $3.2k
effectively a $2k delta & no incentive to buy
this market is nutty & somethings gotta break eventually
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@ChrisUnits
So just to be clear, you’re giving away all your assets. Kids see nothing, right? Just wana make sure you’re putting your money where your mouth is :-)
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I left my job in July
fast forward 11.5 months & I've built a vending route comprised of 30 machines worth $216k
not too shabby for a years work
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That machine I bought for $300 & placed at the cheap hotel..
Grosses $1,200 a month
Can sell that one location for $14,400
You can get options money in vending too😏
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Due to high volume, I placed 2 new machines @ my low income apartment complex
The account was doing $2k a month, but by upgrading to a glass face drink machine & a 5 wide snack machine, it should bump up to $3k+
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My parents never talked biz or finances with me
I will not make that mistake w/ my kids
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If you're asking yourself
- how tf did this kid get a machine for $300
- you net $600 a month off 1 machine!?
- how do I find locations like this?
- I fucking love cash flow, how do I start?
$35 off my course for the next 24hrs
use code: cashflow
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Boom!
New vending account is closed won & machines are locked & loaded🤠
- 15 locations
- 26 machines
- 1300+ people to vend to
Based on the numbers so far, it should do $10-$12k a month!
My route has now swelled to 57 machines & May should be a $40k month📈
Brick by brick
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Placed 9 machines today at ONE location (pictured below is just the first floor)🤠
This is a MONSTER account
& will conservatively add $10k a month to my biz
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Kitchen before & after of my property in San Diego. I'm 25 & it appraised for $730k 🤠
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My vending machines have done $134k in cash this year & people think cash is dead😂
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My most frequently asked questions in vending
- What if a location already has machines?
- Do you pay commissions?
- What are your margins?
- Where do you buy machines?
- Do you service the machines yourself?
- Where should I put my machines?
- Contracts?
~ A video thread ~
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Placed this machine last month
Check out the numbers
Grossed $747 @ 65% margins --> net = $485
Investment
- machine $1k
- cc reader $250
- move $100
- inventory ~ $250
total = $1.6k
After 3.5 months, everything is pure profit
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I left my kushy corp sales job 2 year ago to sell candy for a living
OTE was $240k & even my high school brother thought i was out of my mind
Last month i crossed the $29k mark & am confident i will get the biz to $50k a month this year
it’s a great time to bet on YOURSELF
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unit economics on a nitro cold brew coffee machine
machine cost: $3,850
coffee keg = $75 w/ 640oz
price per oz for customer = $.41
gross margin = 71%
projected monthly rev = $500 - $1000/mth
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Went to college in michigan
Lived in san diego my whole life
I’ve come to one conclusion
Lake house > beach house
Which are you choosing?
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Just placed these bad boys @ a 250 room Sheraton
2 combos & 1 snack
Replaced the old vendors setup of 3 snack machines
This hotel accommodates biz travel, so for now, I am expecting to gross $500 a month. Once things open up this account should do $3k + a month
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Quick update on my biz
- currently doing 400 - 500 vends a day, so little over $15k
- have 27 machines, but am selling 4 locations (6 machines) to make room for new accounts
- the cargo van is kicking ass!
- have to get a warehouse soon - thinking 1,500 sqft
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Boom!
Just placed 2 nitro cold brew kiosks
These machines are available to over 440 units!
Cold brew portfolio now sits @ 3 machines & growing quickly
Let’s get this thing to $15k a month!!
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Here's a one-stop shop for all my most popular tweets about vending
Dive in & learn!!!
~ A thread ~
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Brick by brick.
# 2 & 3 out of 50
Placed these two @ a 300 unit low income housing complex.
I’m expecting $25+ from each machine a day.
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@RohitBhatiaVC
Dawg, i sell snickers for a living. U think i have the intellectual capacity to make that shit up?
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Now officially in the big leagues
Dropped these two machines at the train station
61 machines in the portfolio now
Brick by brick 🧱
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I've pumped $50k into my ROTH IRA because a bunch of people I looked up to told me this was the smart thing to do
Turns out, most of those people just had average goals & it was one of the worst financial decisions I've made
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Instagram has tricked the masses into thinking that going to rome in your 20's is more important than building wealth
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my vending business will gross over $400k this year
however its required me to:
- quit my 9-5 where i was making $240k
- Invest all my savings into the biz
- make 100+ cold calls per day
- work 10hr days
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New to vending & wanted to get started?
Here's a quick breakdown:
1. Land a location - cold call places where a lot of people conjugate or buy route
2. Buy machine off offerup / CL
3. Buy cc reader off nayax
4. Pay someone to move it
5. Buy products from costco biz / sam's club
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current portfolio
- 60 traditional vending machines
- 1 nitro cold brew coffee machine
- 8 atm machines
- adding a few micro markets + smart coolers
3 years ago i was in software sales selling another mans dream
today is a great day to bet on yourself
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2023 review:
vending: $560k
atm: $47k
cleaning: $20k
2024 goals:
vending: $1m
atm: $100k
cleaning: $200k
lets get it🫡
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I cold called 100 industrial building owners
75 no answered
19 not looking to sell, but buy MORE
5 looking to sell
1 completely out of the game
What are next steps?
Send the 19 looking to buy more the 5 deals i just procured
All you need is data, a phone, & some grit
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My best vending location grossed $3,488.10 last month
margins are now sitting at 55%
net = $1,918
total investment on 2 machines = $5,400
& don't forget
snickers never skip rent
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wow
just had a meeting & the property manager informed they are looking to acquire 21 other properties
& they all need vending machines
🆘
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it all started w/ 1 vending machine from craigslist
3 years ago
now its
58 vending machines
3 nitro cold brew kiosk
1 micro market
10 ATM machines
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My girlfriend & grandpa checking out my route today & helping me fill one of my machines
I am forever grateful to have a family that takes interest in my business adventures
As for the girlfriend - get yourself one that supports you, no matter how unattractive the biz is
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Bought these two machines from offerup a while back
Snagged them for $300 total
The Aquafina machine is @ a shipyard grossing $500 a month
&
I'm placing the Pepsi machine @ a Salvation Army which should do $20 a day or $600 a month
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I’m no $tsla bull, but this graphic speaks wonders
Assets > liabilities
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Just placed this KVM (kegerator vending machine) @ a 150 lux apartment complex
Cold brew anyone?
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The cheat code in life is to own semi passive businesses that eventually become fully passive.
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@PrynceTreal
offerup bro
always negotiate - look for machines listed for $1k - $2k & offer them half the amount. in CASH, to their FACE
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nitro cold brew machine did $520 in the first month!
hit a few speed bumps initially, but confident i can get this thing to $700 - $1000 a month
why i love these machines:
1. 2 sku's
2. strong margins
3. addictive product (like really addictive)
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I have $50k ready to be invested
am i buying an NFT or crypto?
nope
a laundry mat
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Snacks not selling in your machine?
Tape $1 scratchers to your products and watch your sales spike
Learned this gem from
@BrotherGram
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overall, i think the bet paid off & am pretty confident i can get this thing to $5k a month
maybe $10k if i hire local restaurants to stock it w/ their food everyday :-)
+ some good news
micro-market
#2
is going in this week!
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2022 goals
1. vending biz @ $50k a month ❌
2. buy 2 laundromats ❌
3. meet 100 entrepreneurs in san diego❌
2022 reality
1. vending biz @ $40k a month ✅
2. bought an ATM route ✅
3. met 20 rockstars ✅
I generally aim for the moon, but end up landing 10ft away from start
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Gotta love
laundromats
vending machines
ATM machines
self serve cash wash
dog wash bays
no black friday ads
no copy writing
no emails
just consistent cash flow
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the numbers so far
july: $ 2,278.10
aug: $ 3,288.47
sept: $ 3,003.49
oct: $ 4,027.46
the main difference between july & oct is fresh food & household products
think buying a sandwich, soda, chips & some tidepods
highest $ trxn: $41.94
lowest $ trxn: $1.49 (staff discount)
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I bought an ATM route a few months ago for $20k
it now pays my rent
as the wise
@CJ_Johnson17th
says
get money, buy income
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If you make $10k or less a month, your singular goal should be cash flow.
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2 yrs ago i was picking up products in my ford fusion & storing them at my apartment
now i get pallets delivered weekly to my warehouse
bet on yourself
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the arbitrage no one is talking about
buy business w/ no accounting
sell business w/ accounting
profit
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Total investment on vending machines $160k
By selling off & landing others people locations i've gotten that number down to $27k
Can sell the biz for $800-$900k
Not bad for 2.5 years of work
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some additional good news
the place i buy all my micro-market equipment
@cantaloupeinc_
is running a black friday sale!
15% off here:
my bundle is the following
1. go minix
2. 3 pewter pine cabinets
3. cooler
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When i first got into vending my grandpa helped me a ton
even letting me use his garage as a makeshift storage facility
today
i pay him back in cash flow
72 unit low income SRO
should do $800 a month!
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In 2020 I:
- Quit my high paying 9-5
- Started a vending biz
- Tried drop shipping & failed
- Created a golf brand
- Renewed my tenants
- Did $10k in course sales in 2 months
- Fully funded my roth IRA
A lot of progress can be made in a year.. keep plugging
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When I first got into vending I thought the best place to buy vending machines was craigslist, offerup, or facebook market place
I was wrong
Here's why, where you should now buy vending machines & the models you want to look for
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Vending Machine Update
1 week
1 location
2 machines
I take credit cards too😉
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Cold callings competitive edge is simple
no one does it
& those that do, suck at it
here's 10 effective ways to get better at cold calling
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Just picked this bad boy up for $600! Holds 800 cans😂
A little tlc & it’ll be ready to rock
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My vending business for the year of 2020 ran @ 65% margins
My expectation was 50%, so I am thrilled
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2021 vending by the #'s
jan: $2,878
feb: $3,264
march: $4,397
april: $11,515
may: $15,086
june: $16,797
july: $21,204
aug: $23,425
sep: $25,450
oct: $28,299
nov: $28,925
compounding 2022 vibez📈
moral of the story - make a dollar & then a lot more, but start
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Boom!
Just placed this nitro cold brew coffee kiosk @ a 230 unit apartment 🔥
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Best way to optimize your vending biz
Walk into a 7-eleven & copy them
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I'm estimating that the 11 new machines I placed Tuesday will add an additional $7k a month to my biz
@ 60% margins, that's $4.2k net a month
I spent $20k on the machines
Talk about an unsexy biz
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I’m incredibly grateful for the life I’ve been blessed with, so I had to giveback this year
50 McDoubles & 50 Apple Pies gone in 10min
Maybe I’ll do 500 next year. Your move
@McDonalds
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My route currently consists of 31 vending machines
all in investment on those machines - $61,000
that's ~ $2k per machine
most expensive machine - $3,800
cheapest machine - $500
favorite machine - closed face drink
least favorite - any snack machine
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First frozen machine is a go🤠
had about 20 kids get home from school stoked as hell
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