I might be trying to start a small business and was wondering about vending machines

When I go to the bank to buy a couple boxes of half dollars for my date/mint collection (trying to complete from circulation) I'd really prefer a $1000 note instead of ten $100's since the wallet starts to get rather thick (tri-folds) and if I'm at another store people are much more likely to notice a stack of bills in my wallet instead of just one $1000 note (that they can't see the face of).

I don't have a ton of cash but I was able to save up that $1000 to look through half dollars, I'd rather not get mugged for it someday when someone sees a stack of notes in my wallet.

 

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Zach:

Current changers and validators do not have these capabilities due to the infrequency of use of these coins/dollars.

Thank you,

Stacy Fernstaedt
Human Resource Director| Seaga |Voice: | Fax: |seagamfg.com

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Email I received back from Seaga, I don't know if this is what you're looking for though. It maybe in your best interest to contact someone who customizes Vending Machines rather than manufactures.

 

Drago, you've gone from wanting to deal in $2 bills and Half Dollars, to wanting a $500 and a $1000 bill to display, to wanting to own and deal in $500's and $1000's.

You say you don't want to carry wads of smaller bills but how does that square with your desire to deal in $2's but carry $500's and $1000's? What is it you want, one $500 bill or 250 $2's?

You say there is a demand for larger bills but the demand you speak of is yours alone. Nobody else seems to be joining your crusade.

So your mother buys $200 worth of groceries a coupe of times; is really a burden for her to carry two $100's instead of one (non-existing) $200? Good luck on trying to buy your way into a movie theater or purchasing a Big Mac at McDonalds with a $1000 bill.

Although $500's and $1000's are no longer printed, I feel certain that you could find examples in Las Vegas or Atlantic City but they might cost as much as the ones usually available on ebay. As I type this there is one on ebay with less that an hour to go at a $1600 bid, with many more, along with $500's, also available.

You can go to just about any bank and they will happily order many thousands of $2 bills and Half Dollars for you; as long as you pay for them.

Vending machine companies will NOT custom make a vending machine for you. You can, however, buy used ones and have a knowledgeable mechanic modify them for your purposes. You would have to keep them stocked with product yourself, but you'd be able to keep all of the proceeds for yourself.

Good luck with your restaurant venture. You'll find that you'll have far more to occupy your mind than whether or not big bills are available.

 

No I haven't. I want to get $2bills and halves back into circulation from doing a business. And I want $200, $500, and $1,000 bills available for me to use when I need them. How is that the same thing? I wanted to display a couple of each bill to show people what they looked like, with a little note of their history, and encouraging people to write to their Congressmen and the Treasury to reissue them, and issue a $200 bill. Children and other people who have never seen them might find it very interesting.

You're missing the point here. The $2 bills would be stocked in the cash drawer at the business. $200, $500, and $1,000 bills would be used for high end purchses. NOT at my businuess unless a LOT of people were buying food.

Maybe there are more people than you think, that are out there who support it, but feel not many others support it, so they don't fight for it. But I've had many people who have dealt with cash want those large bills back.

Still, why not a $200 bill? If other contries can have them, why can we have them? And $200 bills would also be, to better help make change for a $500 or a $1,000 bill in places where they do let you make a smaller end purchase with a large bill. Like a casino.

Just even thinking of going to a movie or a McDonalds with even a $100 bill is a stupid idea. I get worried when I take a $50 up there, thinking they won't have the change for it. And my cashier friend at the local 7 Eleven can barely break a $50 unless you spend most of it. $200, $500, and $1,000 bills would be for HIGH END purchases. But maybe some electronics, jewelers or other high end businesses could make change for $1,000s with a $500, or $200s You don't go buying "cheap" items with a $200, $500, or $1,000 bill. You only use them if you are buying large amounts of cheap items in bulk, or big expensive things. But I think I have explained that enough.

I got a $500 bill off eBay about 10 years ago, and my father always asks me to this day, "Are you going to take it to a bank to see if its real?" and I wonder if its real myself. It came from someone claiming to be a coin shop, but who knows? If I go to the place where I got my 100 ounce silver bar, to buy a $1,000 bill, I will be taking my $500 bill there to see if its real, and proibably also cash it in and add a couple more hundred dollars to get a better quality one, even thought the one I have is in very good shape.

Well duh, and of course, so does my local credit union. I've gotten hundreds of dollars in halves and $2 bills from them.

That would be nice to collect all of the profits from my own machines, but are you saying a good mechanic would be able to make the machines take halves? And if so, do you think they would be charging huge amounts of money for it?

Well it will not be my business alone, other people will work there. Plus, as I said, I may also eventually get into real estate, renting out expensive places to rent to try to make some major money. So, I hope it works out.

 

Drago, how much do you really know about running a business?

 

I'm reposting these questions......since they got missed

Is there a need for this type of resturant in your area?
Is there a over abundance of resturants in your area?
Have alot of resturants in your area closed recently?
Have you spoken to others in the resturant business in your area about average customers per day?

Getting into the returant business isn't an easy thing. Plan on not making money the first 2 years at least. So that means you need to have alot of operating capital to sustain your bills.

Good luck with it.

 

Not much. I'll admit it. Me and my mother just came up with the idea after my brother-in-law's sister opened up an ice cream shop, so we were just going to try to see how they are doing it, and try it ourselves. It IS a new thing to us, though. I admit it. But we are looking into a LOT of information.

 

Do you realize how hard it is for someone with zero experience to run a successful business? If I had the money to open a restaurant (Which will run you mid-six figures once you include start-up costs) I'd buy a house with a big basement, finish the basement, and rent out the house and basement.

 

Sorry about that.

Not sure right now 100% but its a place we are planning to move to, and have not been to for years, so it might or might not need one. But remember its also an ice cream shop combo.

Last time we were in that area, there was barely anything in that area that dealt in the type of business I propose, if my mind serve me right.

Again, not sure, because its a place we plan to move to, and we are not sure when that is going to happen. Hopefully I will know soon, and I will try to answer your questions better.

See answers above, but I spoke with my sister since she was over here tonight and she said her husband's sister's place is doing alright, as far as she knows.

You mean I will be making up for what I put into the place in the two years time, I take it?

Thanks.


Merc Crazy: How could you say it would cost in the mid-six figures to start up, when my brother-in-law's sister started her business for between $20,000 and $30,000? I think that was an over-exaggeration. I'm not opening a full blown "big box" store chain, just a small ice cream and food shop.

 

Takes a lot more to start making food, hiring employees, paying employees, overhead, etc all that stuff that needs to be taken care of before you jump in head-first.

Do some research, dude. It's good to have aspirations and dreams, but it's not good to jump before you take a long, hard look at what you're jumping into.

 

If you want to get them to circulate, hand them out in change. But, you might want to hang on to them. Starting a business with ZERO experience can handicap you right into the poor house within the first year. You won't be taking home much in the way of a paycheck, either.

 

Friend of mine runs a water ice (You might call it italian ice) shop. He bought it this Feb, opened in April, and plans to be open through the second week of October. We hung out probably 4-5 times a month before he bought it. I've seen him three times in the seven months since, save when I went there to get some ice cream or water ice. He's busting his ass... and barely scraping by. Told me for his 7 months of work, he's made about $30k in profit... and he still has to pay taxes on that $30k come the end of the year.

Drago, no offense, but you have no idea what you're getting into with running your own business. It's not easy, at least not for the first few years, and if it is, that just means you're bankrupting yourself.

To further what I'm saying here, try to open a restaurant with $40k. That might buy you all of the equipment for the kitchen. Then, you've got tables, chairs, lights, windows, paint, flooring, bathrooms, etc.

 

I have an ice cream/restaurant shoppe near me that doesn't do that. It's just one little hut that is maybe 30 ft x 30 ft and just has some picnic tables. But I know what your saying, starting a business without a full plan and complete understanding of the food industry in that area is a terrible idea and if you do survive you are extremely lucky. It's so much easier to get a job somewhere and start a coup d'état so you can take over.

 

+1

 

Also don't forget the licensing fees, accountant fees (unless you're an accountant), insurance, workmans comp cost....etc

What state are you looking at doing this in?
How far away from your sisters place will you be located? Same town?

 

We already know about these things, and we won't need a workmans comp becaise it would be a family business.

Michigan. Why?

Its my BROTHER-In-LAW'S sister's business. And her business is in Livonia Michigan area, and my place would be in Brooklyn Michigan.

Nope.

 

The reason why, is some areas of the country are having to deal with stronger economy issues compared to other areas. For example I live in NH and work in construction painting houses. Most areas of the country have seen a mass slow down of home building. I'm grateful for the company i work for, we havent had any kind of slow down. But i can't say the same for other businesses in my area. With more people out of work, less money to spend on eating out at resturants. Even though my work has been constant, we only go out to dinner maybe once every 2 months.

I think you really need to look at the economy of the area you are wanting to start a business in. For example for Brooklyn, MI the unemployment rate is 14.5% compared to a national of 10.2%. Recent job growth is at -9.03%.

Doesn't seem like a great place to start up a business