{"id":10991,"date":"2022-10-10T20:22:46","date_gmt":"2022-10-11T01:22:46","guid":{"rendered":"http:\/\/blog.jlbn.net\/?p=10991"},"modified":"2022-10-10T20:22:47","modified_gmt":"2022-10-11T01:22:47","slug":"how-this-31-year-old-turned-his-side-hustle-into-a-300000-vending-machine-business-i-only-work-4-hours-a-week","status":"publish","type":"post","link":"http:\/\/blog.jlbn.net\/?p=10991","title":{"rendered":"How this 31-year-old turned his side hustle into a $300,000 vending machine business: ‘I only work 4 hours a week’"},"content":{"rendered":"\n

Today, at 31, I have a thriving vending machine business<\/a> that brings in more than $300,000 a year in sales. But just a few years ago, I was living at home with my mom in Rochester, New York, working a $17-per-hour managerial job.<\/p>\n\n\n\n

My goal was to save up enough money to purchase a rental property that could generate passive income. But one day, a new side hustle idea sparked when my friend saw a woman taking cash out of a vending machine.<\/p>\n\n\n\n

I thought about how it could be a profitable business with little heavy-lifting. So in 2018, I moved to Philadelphia and bought two machines.<\/p>\n\n\n\n

Joyner Vending made just $5,000 that first year. But I kept at it, and now I have 21 vending machines throughout Baltimore, Philadelphia, Detroit, and Washington, D.C. I’m on track to generate $500,000 in sales by the end of 2022.<\/p>\n\n\n\n

Here’s what I learned throughout my entrepreneurial journey \u2014 and my best advice for anyone who is interested in starting a similar business:<\/p>\n\n\n\n

1. You need at least $4,500 to get started.<\/a><\/h2>\n\n\n\n

I had saved up $10,000 from my 9-to-5 job, but my startup cost was around $4,000, which I used to pay for a snack machine, a beverage machine, two credit card readers, food and drink products and delivery fees.<\/p>\n\n\n\n

Due to inflation, things are much more expensive today, so I recommend saving between $4,500 and $5,000. Machines can run anywhere from $1,000 to $10,000, depending on whether they’re new or refurbished. Delivery costs are usually between $200 and $500.<\/p>\n\n\n\n

While credit card readers are optional, I’ve found that they can boost sales by up to 25%, since you aren’t only relying on customers to have cash on them.<\/p>\n\n\n\n

2. Look for machine vendors with good reputations.<\/a><\/h2>\n\n\n\n

Crane<\/a>, AMS<\/a>, Dixie Narco<\/a> and Automatic Products<\/a> are all reliable manufacturers. Look to see if there are vending machine warehouses in your city, and on platforms like Craigslist, Facebook Marketplace and eBay.<\/p>\n\n\n\n

There are many different types of machines. A refurbished Vendo 511 Drink Machine, for example, which you might recognize as a classic Pepsi machine, can go for $1,500. A new one can cost around $3,500.<\/p>\n\n\n\n

If you only have room for one machine in a given location, I recommend going with the Crane National 449 Combo Machine, which includes both snacks and beverages. A refurbished machine goes for about $3,500, and a new one can cost up to $7,000.<\/p>\n\n\n\n

3. Never buy a machine until you have a place to put it.<\/a><\/h2>\n\n\n\n

Location is everything. I’m always thinking about places that have a lot of foot traffic. Apartment complexes, hotels, student housing areas and warehouses with a lot of employees are all great options.<\/p>\n\n\n\n

When trying to figure out whether a location might be profitable, find out:<\/p>\n\n\n\n