Bulk candy vending machines are a great way to get your feet wet in the world of business you learn a lot about investing, return on investment, sales, purchasing and every other form of business but at a microscale, allowing you to make the mistakes early without much risk associated to the venture.
Your quickly understand how the price you buy an item at is extremely important especially when you are working with such small transactions, that location does matter, and the importance of testing the market before jumping head first.
The real beauty of the business is it gives you an easy first endeavor into passive income from a business. If you are not familiar with the term passive income it means, income made with minimal continued effort involved. So if you go off to work and are paid hourly or salary that’s active income. Your pay is directly proportional to the hours your work and the effort you exert. This means that you will have to work longer and harder to earn more and eventually you will be capped out on how much you can earn because you can’t work any harder.
This is where passive income comes into play. While it’s not completely passive it generally requires initial effort to get it started but continues to generate money with minimal to no effort to maintain the money coming in. Other forms of passive income more commonly know about are stock dividends, rent checks from rental properties, or interest on saving or investments. While there are a lot ways to make money when you already have amassed a lot of extra money the hard part is getting started with next to nothing.
Ultimately if you can generate enough passive income to cover your needs you can spend less of your life focused on making money and more of it on things you believe are important. That’s a dream I think many people share but few have the follow through to make it happen. For me I needed something to get started. So after discovering this idea I jumped right in. I had to take the plunge right away to get myself moving and not sit in analysis paralysis like I have in so many other ideas and ventures. So I jumped in head first and figuring I would learn as I go.
While this approach was very important for me in terms of forcing myself into action there were a lot of mistakes early on and things that had I know I would have done differently, everything from the type of machine and candy to my buying habits.
If you already own a business or commercial rental property this might be a great way to increase your income with minimal effort. Simply by placing a candy machine into a highly trafficked area you could put an extra $25 to $150 a month into your pocket, depending on the location and candy choices.
For those of us still working a regular job with lot of responsibilities it’s a great way to generate side income, look around maybe there is a place or someone you know at a store who can help you get your foot in the door. Ask your boss about adding one to the break room, or think about other places that might benefit from a candy machine.
What’s funny is after you start thinking about this business all those machines you use and really don’t notice at shops are so much more visible. You look at what candies they use, how full they are the type of machine, where they are placed. Etc. The fact is 90% of the machines out in the stores and business you go to are managed by someone like you and I. Every store without a bulk candy machine is an opportunity waiting to happen. I invite you to take a look around and see for yourself.