Sold my vending machines

[sweetkymom]

My husband and I had grand plans when we bought some vending machines two years ago. We put the 4 we bought out on location and from there everything went downhill. Our machines got broken into in what seemed every week. One week we lost out on everything we put in it plus money that was in it. We decided that we've spent more money fixing and repairing machines than actual money made. We sold the machines. We went through a tough time with the IRS because of us selling the machines before the quarter was up. They tried charging taxes on machines and inventory we didn't have.

[Strykstar]

I'm sorry to hear that, that seems like a terrible situation to be in, especially due to crime.
Could you have moved the machines to a more busy location? Maybe somewhere with constant supervision? Where I work the machines are right across from the building's security guard's desk.

[HeinrichM]

Sorry to hear about your bad experience. With vending machines the location that you place them at is a big factor in the possible success or failure of your vending business. Security concerns, number of potential customers, number of potential high turnover hours daily and much more will be dependent on the location used. Most people think that owning and operating vending machines is easy money. In reality it can turn-out to be a costly experience.

[eagle22]

Wow, that's crazy! Sorry to hear it didn't go that well. How did things go with the IRS, did you end up having to pay the taxes or no? I don't think that would be fair at all if they made you pay the taxes still!

[wandering wildman]

My friend had the same problem with people stealing. He also said they were always breaking. He had to invest a lot of time, and money with little to no reward. Consider it a lesson learned

[fredkawig]

I don't think they can charge you for things you do not possess at the moment, I think they should not harass you and try to get a lawyer if it comes to that.

[alexcollins]

On average, many entrepreneurs who start a vending machine business report that one vending machine in a prime location may bring in $50 to $100 per month. In theory, if you have 100 vending machines - all in prime locations - you may be able to hit around $1000 per day, but that may not be everyday.

[alexcollins]

Most vending machines earn less than $5 per week. However, a well-placed vending machine can earn far more than that, potentially exceeding $100 per week or even hundreds of dollars per day. Vending machine earnings vary widely based on many different variables.