Hi Fastlaners,
This is my first post, I just registered but I read threads on the forum for about 2 months.
I discovered the website while reading ''The millionaire Fastlane '' . I think it is one of the best business book I have read.
My name is Vincent, I live in Quebec, Canada (My main language is french so I may make some english mistakes) and I'm 17 years old.
I have some money sitting in my bank account (around 10k$). My money come from a summer of work at a hotel. I will also receive a 50k$ inheritance in 4 months (I need to be 18). So in 4 months (at my birthday in April) I will have around 60k$ and I want to invest it to create a business or some passive income.
I did some research for real estate investing, but the market in my area is not very good at the moment.
Recently I saw an article on a website about vending machines. I was curious and decided to see how much it could cost to buy some. I saw a good opportunity in my area : 29 used vending machines for 11,6k$ (400$ each) all in perfect condition and with a supplier for the products. These used machine are normally worth around 1k each. With the supplier I can buy each item for 1$ and sell it for 2$. I think it could be a good investment. If I dont want to run 29 machine, I can sell some separetly for around 1k$ or I could rent them for a monthly payment.
With only 2 sales/day/machine I could make around 21k$ profit/year. (2 sales x 1$ profit/sales x 365 days x 29 machines = 21 170$)
I will try to negociate to maybe buy half of them at the beggining and see how it goes.
Do you think it is a good investment? Do you have vending machine experiences?
Vincent
This is my first post, I just registered but I read threads on the forum for about 2 months.
I discovered the website while reading ''The millionaire Fastlane '' . I think it is one of the best business book I have read.
My name is Vincent, I live in Quebec, Canada (My main language is french so I may make some english mistakes) and I'm 17 years old.
I have some money sitting in my bank account (around 10k$). My money come from a summer of work at a hotel. I will also receive a 50k$ inheritance in 4 months (I need to be 18). So in 4 months (at my birthday in April) I will have around 60k$ and I want to invest it to create a business or some passive income.
I did some research for real estate investing, but the market in my area is not very good at the moment.
Recently I saw an article on a website about vending machines. I was curious and decided to see how much it could cost to buy some. I saw a good opportunity in my area : 29 used vending machines for 11,6k$ (400$ each) all in perfect condition and with a supplier for the products. These used machine are normally worth around 1k each. With the supplier I can buy each item for 1$ and sell it for 2$. I think it could be a good investment. If I dont want to run 29 machine, I can sell some separetly for around 1k$ or I could rent them for a monthly payment.
With only 2 sales/day/machine I could make around 21k$ profit/year. (2 sales x 1$ profit/sales x 365 days x 29 machines = 21 170$)
I will try to negociate to maybe buy half of them at the beggining and see how it goes.
Do you think it is a good investment? Do you have vending machine experiences?
Vincent
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
