Marcus went from a ?1,400-per-hour corporate job to running a ?2.4 crore-a-year vending machine business. Living with his mom in Rochester, he dreamed of financial freedom. In 2018, inspired by a friend's observation, he moved to Philadelphia and bought two vending machines. Today, Joyner Vending has 21 machines across major cities and is on track to make ?4 crore by the end of 2022. Here’s how he did it.
Here’s what Marcus learned:
- Start-Up Costs Marcus saved ?8 lakh from his job. He spent ?3.2 lakh on machines, credit card readers, products, and delivery. Now, he recommends saving between ?3.6 lakh and ?4 lakh to start.
- Choosing Machines Marcus suggests looking for reputable vendors. You can find good deals on various online marketplaces. Refurbished machines are cost-effective and reliable.
- Finding the Right Location Location is key. Marcus recommends high-foot-traffic areas like apartments, hotels, and student housing. Always secure a location before buying a machine.
- Branding and Customer Service Even in vending, branding and customer service are crucial. Marcus responds quickly to issues and keeps his machines well-stocked and clean. Early investments in a company shirt, business cards, and a website helped him look professional.
- Know What Sells Popular items like Coca-Cola, Red Bull, and Doritos sell best. Marcus buys in bulk from wholesalers. For example, he buys a bottle of Coke for ?45 and sells it for ?140, making a ?95 profit per bottle.
- Share Your Knowledge As his business grew, Marcus started teaching others. He offers an online class and wrote an eBook. Sharing his knowledge has been incredibly rewarding.
Joyner Vending has changed Marcus's life. For anyone considering a vending machine business, he advises starting small, being persistent, and continually learning.
Marcus is the founder and owner of Joyner Vending.
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