(1 votes, average: 5 out of 5)
Loading ...Vending Business - Passive Income and Recession-proof
(1 votes, average: 5 out of 5) Loading ...Are you a business owner that feel lacks of time for your family, friends, even yourself?
Well, you are not alone.
For most small business owners, success co-relates with the time spent on the business. If you are a self-employed or a sole proprietor, your business success means more time needed to maintain the success.
However, this is not the ideal situation. Sure, you may be satisfied with all the success you have, but as a business owner, I’d suggest you to find ways to leverage your success.
Leveraging success
Success can mean anything - more time with the family, working whenever and wherever you want, etc. - but the most common measurement of success is - surprise, surprise - money.
Having ‘excess’ money means more opportunities - either to spend it lavishly or invest it. I prefer the latter, and I hope you do, too.
Leveraging your success - in this case - your money, is crucial in your path to financial freedom. You have to find ‘vehicles’ to make your money work hard for you, not the other way around.
One way to do it, is to owning businesses that don’t require you to actively involved in them, producing passive income streams for you.
The ideal passive income small business opportunity
Almost all type of business can be turned into passive income businesses, but there are certain types of business that, by nature, allow you to practice passive management and to earn passive income.
My take on passive income businesses are: all things automatic, such as automatic car wash, and coin-operated businesses, such as laundromats, phone booths, and vending business.
Of all, I keen on vending business.
Vending business
Vending business is an automated business system with the use of vending machines.
Vending machines offer vast product lines to provide, mainly food and beverages, such as snacks, canned sodas, candies, etc. Other type of products can include: newspapers, public transportation tickets, and even iPod.
I keen on vending business due to the inherited passive income capability. Moreover, with its premise of “convenience - anywhere, anytime,” vending business is recession-proof, because it answers people’s need for convenience.
Any experience in running a vending business? Please share by commenting on this post.
Ivan Widjaya
On vending business
{ 2 comments… read them below or add one }
T Edwards 08.23.08 at 4:04 am
Hello
The vending machine business can be lucrative but I would NOT consider it passive income. There is maintenance and machine stocking to consider and also there will be the job of having to find locations for your machines. Most of the time your locations will be businesses and they may even ask for a cut of your gross. If you have slow machines, and you have food (candy, snacks, etc) then you will have to rotate your old, unsold stock for fresh goods. If you have machines that see more business then you will have to make frequent visits to refill them. Finally, you have to consider the cost of the machines themselves. Depending on what kind you have they could range from cheap (poor quality, not good for commercial use) to VERY expensive (hot drinks and foods). Watch out for people selling routes…do ALOT of research.
Hope this helps
T
Noobpreneur 08.23.08 at 6:00 am
Hi T,
Thanks for your opinion!
It’s true that there are steps to take to establish vending business and, of course, it’s not a walk in a park. No business is easy.
However, there are certain business types that allow you to ‘hands off’ in day-by-day operation, in a sense that your business is running with or without you doing the 9 to 5 - this is what I mean by passive income - minimal involvement in the operational - but it’s all about wordings, right? :)
Anyway, great tips, especially on the location tips.
Cheers!