owning vending machines

has anyone here considered buying a cheap vending machine before. in the newspapers around here there are soda machines going for under $200. i saw one this week selling for $100. i think that would be a good place to get star notes, coolnumbers, older notes, and old coins. i think i might get one when i get older because soda is always being bought and when people are thirsy, they spend what they got. also, i've heard the profit is great too. thay say you double that amount in months with profit. i've checked the pepsi prices around here and it is $3 a 12 pack. that means each can of soda is 25 cents and if you sell the product for 50 cents like they normally do, you will make a profit of 25 cents per can. if you sell 12 cans a day thats $3 a day, $28 a month, and $336 a year! if you buy a machine for $200 like the one in the newspaper, you will have a profit in about 6 months! plus, you don't have to do much also, just check the machine about once a month and go. those machines barely cost you anything because they don't break down for a long time. also, it would be good for a bill collecter or coin collector.

 

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comes down to location....location....location. I say put them near nursing centers, maybe get older coins from the aged ones.

 

theres a church down my road about a mile and there are old people, and kids that go there! it sounds like old notes and coins to me! old people can't see the dates on the notes or coins and most kids could hardly care less. i will probaly get the coin acceptor that accepts silver like the ones at the casionos. they are a little more expensive but i may be getting pre 1965 dimes and quarters and war nickels. in this dinky little down i live in (5 miles south of festus is where i live, or about 40 miles south of saint louis in a small town called hematite) is full of old people and kids. or, i can put a drink machine down at the daycare a half mile down the road. theres alot of young people going aound there.

 

Coinlover,
You are using the word old people to much just think of us as old geezer's:goofer: :goofer: :goofer: :goofer:

BRUCE "THE FRANK GROUP"

 

Most people seem to put dollar bills into soda machines these days, so you may not find many coins that you want to keep. If you could find a way to own a coinstar machine, that would be a heck of a business for a collector!

 

is there a way to own a coinstar machine/coin to cash machine? i will look on ebay right now.

 

There is someone in this area who supplies counting machines to a local bank. I've seen his machines in a couple of their branches. The bank itself is VERY local... covers 2 counties... they allow him to put his machines in the lobby. Customers can use it at no charge. Noncustomers pay 3%. His machines are simpler, quieter and faster than CoinStar machines. Dump the coins. Take the receipt to the teller and get your cash. Then he comes and collects the coins from the machines. The way I understand it, he gets 3% on all transactions. The bank covers the charge for the customers. Now, that would be a nice machine to have.

 

could you imagine all the wheaties?

 

OK, I'll pop your bubble for you. I am a car wash owner with four sites. I probably have 75-100 different coin acceptors between the four washes. I have nearly all acceptors programmed to accept silver coins. I may get one silver quarter a month and trust me, we probably go through many many times the quarters that a vending machine will.

Most people want 20 oz. bottles, not cans. I pay about 90 cents per drink and sell them for $1.25. The state gets 7 cents of that. It costs about a dollar a day to power the machine. They are constantly being vandalized (the very reason no one owns there own machine). The sales are drastically lower in the winter. IMO, it's just a convenience for my customers since I make no significant money from it. I can't imagine thinking you would only need to check it once a month. If it doesn't need filling every week I would think it would be a loser. This will turn out to be a VERY low paying part time job and no silver coins to boot.

 

I've thought about the CoinStar angle a number of times. I've even considered a "Coin Exchange" Van that would make rounds like an ice cream truck. "Bring out your coins". Couple that with the ability to dispense cash or add the funds to a prepaid MasterCard account and you could build a loyal repeat customer base. Like the lunch wagons at these small businesses.

 

I like that idea. How much for a franchise?

 

This is not an investment forum. The trend of the postings is getting further and further away from any numismatic content.

Those who wish to do so may continue this discussion where it belongs, in the General Discussion forum.