Can one make a good living nowadays owning a number of vending machines? Has anybody on the dope ever done this?
(I have no desire to try it myself, I just started wondering about this the other day. I have a vague recollection of one of my fairly-distant relatives doing this as a side-business for a while in the early to mid-1970s, but he did not rely on it as his main income. All the relatives that I could ask, have long since died.)
An uncle of mine is in a related business, though his job is mostly maintaining game machines (video games, pinball, etc.). It’s enough for him to support his family, though he’s not exactly rolling in the dough.
I have clients who have tried it. The most successful gets about $2000 in profit each year with minimal time invested. (Note: profit is tax-basis, after calculating depreciation… this person has $12,000 in machines and has not fully recouped the cost).
The more typical scenario is that you spend $500-$2000 on machines and never see a dime in profit.
If you want to get into it, look for used machines.
My father made his living in vending machines. This was from the 1950’s through the early 1980’s. It is extremely hard work and you appreciate why it is not a “good deal” when someone gets a “free” candy bar. That cost of that candy bar came out of someone’s pocket.
You also have the hassles of handling all that cash - in coin - every day. There is the risk of robbery, the cost of the quipment to sort it & count it, and the sheer effort in carrying a couple thousand dollars in rolled coins to the bank.
Still, he did live fairly comfortably and supported a family of 4 pretty much.