Vending machines/Laundromat
- Thread starter zinc
- Start date
selling a can that costs you 50c for $2. I think thats a pretty good return for minimal effort.
I gather your still trying to find a cashflow stream. Have you looked into atms?
cheers
There is a business currently for sale in QLD that owns 300 skill tester (you know the machines where you use a claw to try and pick up toys or chocolate or whatever) and kids ride machines, it is pulling in about $800k profit per year, they want $3m for it, if I had that sort of money I would be all over it, as wouldn't take too much to run it.
I only had a couple of Coke vending machines ages ago.
Was money for jam really though the bloody things broke down a few times (probably got kicked too many times
)
Pain in the backside when I only had 2 of them, wasn't worth the effort though If I had time on my hands I would go about placing a few dozen of them and get some old retired guy to collect and replace stock for me. It was 100% cash which was also a bonus.
There was 1 coffee machine placed in Southbank TAFE when I was studying there and I swear that 1 machine would have been a serious earner for someone.
$2 for a dodgy instant coffee made from what I expect was powdered milk and instant coffee. There was regularly a line in front of it..... Easy would have punched out 100 coffees a day 5 days a week, probably double that truth be know.
I often see Laundry mats and other vending machines as little cash cows, and the latest vending machine are the 24 hour gyms. Only need staff to sign members up!!
Was money for jam really though the bloody things broke down a few times (probably got kicked too many times
)Pain in the backside when I only had 2 of them, wasn't worth the effort though If I had time on my hands I would go about placing a few dozen of them and get some old retired guy to collect and replace stock for me. It was 100% cash which was also a bonus.
There was 1 coffee machine placed in Southbank TAFE when I was studying there and I swear that 1 machine would have been a serious earner for someone.
$2 for a dodgy instant coffee made from what I expect was powdered milk and instant coffee. There was regularly a line in front of it..... Easy would have punched out 100 coffees a day 5 days a week, probably double that truth be know.
I often see Laundry mats and other vending machines as little cash cows, and the latest vending machine are the 24 hour gyms. Only need staff to sign members up!!
Don't know about owning one, but a neighbouring business had a large drink machine in their customer area with a 50/50% profit share. After they got there first electricity bill it was taken away.
So that means that if I had 15, it would make a 40k profit? That's enough for me. Seems pretty good for not much effort
With laundromats being heavy users of water and power and owners having little choice but to pass on charges to customers, I wonder how big an effect this would have on business.
I used a laundromat a couple of times last year and was shocked at how much the price to wash and dry had gone up.
I also notice very few customers nowadays inside the couple of laundromats I frequently pass - one I park outside the front of regularly when visiting the supermarket.
I used a laundromat a couple of times last year and was shocked at how much the price to wash and dry had gone up.
I also notice very few customers nowadays inside the couple of laundromats I frequently pass - one I park outside the front of regularly when visiting the supermarket.
That's because you assume that they are only washing clothes
With no one working onsite and usually not more than one person washing in there at a time?
I could be wrong but our laundromats could be a little different to Victorian ones in that respect.
OK... thought you meant 'other' illegal activity.
Back onto the subject of profit... a good friend of ours owned a laundromat about 20 years ago and sold it because it didn't do as well as he thought it would.
He had a well paying paye job and invested in property over the last 2 decades and did well from that instead.
24hr gyms, yes I joined my local Snap Fitness about 3 mnths ago.
Btwn 5.30pm - 7.30pm the place is jam packed, and thats every mon - fri. Sometimes theres no room to move! Somebody's making some coin somewhere.
Its interesting, they've targeted the same demographic - tertiary students, young professionals, people who work-out at odd hours like me.
The site used to be just an old block of dusty shops on the main road. As soon as they put up a new Red Rooster, a Muzz Buzz coffee went in and a Subway followed. Snap Fitness was the latest to follow I think. Now that corner is busier. Its also located right next door to an old estate of flats, must be a few hundred living there.
Btwn 5.30pm - 7.30pm the place is jam packed, and thats every mon - fri. Sometimes theres no room to move! Somebody's making some coin somewhere.
Its interesting, they've targeted the same demographic - tertiary students, young professionals, people who work-out at odd hours like me.
The site used to be just an old block of dusty shops on the main road. As soon as they put up a new Red Rooster, a Muzz Buzz coffee went in and a Subway followed. Snap Fitness was the latest to follow I think. Now that corner is busier. Its also located right next door to an old estate of flats, must be a few hundred living there.
yes ive read e-myth and richdad a while ago. Thats probably why im on these forums.
Yes, from what ive read, modern schooling needs to be overhauled to make it more applicable to the real world.
Read John Taylor Gatto's - 'dumbing down of america', very interesting book, talks about U.S school system being hijacked, over 100 years ago, by Big Business so that colleges only churn out students who know how to follow orders and remain employees. Only a few certain colleges train their students to be entrepreneurs.
The methods schools use to teach students actually cause brain damage, apparently??.
Kiyosaki recommended this book, by the way.
Yes, from what ive read, modern schooling needs to be overhauled to make it more applicable to the real world.
Read John Taylor Gatto's - 'dumbing down of america', very interesting book, talks about U.S school system being hijacked, over 100 years ago, by Big Business so that colleges only churn out students who know how to follow orders and remain employees. Only a few certain colleges train their students to be entrepreneurs.
The methods schools use to teach students actually cause brain damage, apparently??.
Kiyosaki recommended this book, by the way.
Yeah, not sure if im going to go into business at all.
But im very glad to have read all these books and have a little bit of basic knowledge regarding business and investing, more so Investment Property. Yes it's true ive had a change of mindset over the tears, as a result. Theres more to come i 'spose.
I make a pretty good employee actually. However finding a vocation I enjoy has been my problem since I started working 20 odd yrs ago.
Trudging off to a 9-5 every day for a pittence really irks me. As time goes by im finding I have to dig even deeper to do it, Look for different philosophies to carry me through, lol.
Nite school and self improvement, outside the 40hr week, has helped me immensly.
I think some kind of vending, on the side, could also be something to look at. coffee, or the like, possibly.
Being an employee and buying an IP on the side is my best bet right now, if only i could hold down a job.
Actually, Schwartzeneger was saying he bought IP's in his early days to give him cashflow on the side! He was in Perth yesterday.
But im very glad to have read all these books and have a little bit of basic knowledge regarding business and investing, more so Investment Property. Yes it's true ive had a change of mindset over the tears, as a result. Theres more to come i 'spose.
I make a pretty good employee actually. However finding a vocation I enjoy has been my problem since I started working 20 odd yrs ago.
Trudging off to a 9-5 every day for a pittence really irks me. As time goes by im finding I have to dig even deeper to do it, Look for different philosophies to carry me through, lol.
Nite school and self improvement, outside the 40hr week, has helped me immensly.
I think some kind of vending, on the side, could also be something to look at. coffee, or the like, possibly.
Being an employee and buying an IP on the side is my best bet right now, if only i could hold down a job.
Actually, Schwartzeneger was saying he bought IP's in his early days to give him cashflow on the side! He was in Perth yesterday.
I thought for a minute we had the same local ( well the muzz buzz for me not the gym
) but then you sliped a subway in there?I know someone who owns 5 of them. Doing very well and he got involved a few years ago so got good sited but its becoming a lot more saturated.
Which one do you go to?
