So my young (10) son wants to get into the passive income game and his first idea is to buy a vending machine

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  • #86909 Reply

      I’m having him do research on best locations, how to buy a machine, what goods to put in it, etc but I wonder if it’s the best option. Those of you with elementary-age kids who are already thinking this way, what resources and ideas did you find helpful?

      #86910 Reply

        I have a client who has 6 vending machines. Nothing really “passive” about it, but they gross about $1,800-$2,200 per month.

        Spends about 1-1.5 hours per week per machine when you factor in shopping for groceries, restocking inventory, etc., but it can be a really great hustle.

        #86911 Reply

          A friend of mine injured his back reloading his vending machine in his 20s and it caused lifelong problems. There is nothing passive about vending machines.

          That being said it can be a good source of income.

          Don’t miss: Our 23 year old son has had about 10,000 sitting in savings for 3 years that he doesn’t need to use

          #86912 Reply

            Just make sure you’ll have the time to stay on top of it with him – you’ll need to get him to the store then the machine regularly.

            #86913 Reply

              It’s awesome that he has that drive!! When my son was 12 we would go to Goodwill and buy a few things he would sell on Facebook marketplace (I’d help him) and he would make about $50 a week. He loved it! He also would buy candy and jerky at dollar tree and sell at school.

              Made $20 a week doing that!!

              #86914 Reply

                He is so young but already business minded, and that is fantastic.

                Even if it’s a first venture, my thought is that it’s a good start if he’s willing to work on this project.

                #86915 Reply

                  My sister in law is a coach/school teacher with three kids who all play softball/baseball. They bought a kettle corn machine and make/sell kettle corn at every single game. They also sell it during the holidays.

                  We bought several bags at thanksgiving last year.

                  Selling snacks at kids sporting events (especially if you’re already going to be there) is a fantastic hustle.

                  Explore these too: Looking for a tax professional who can help my son (and me) to figure this out

                  #86916 Reply

                    For vending machine business it’s important to keep it somewhere like a hospital or school or wearhouses so that the same people walk past it and register that there is a vending machine there as well as have to buy from the machine at some point. The proximity of fast food or retail stores also needs to be taken into consideration.

                    Its a good start for you child as he will learn about where to get his resources from, protection against theft, restocking and where to stock each item, why an item is more popular than others.

                    #86917 Reply

                      This sounds like great business model practice, greet learning experience in general, but “passive” it is not.

                      And depending on location, it likely isn’t expandable to the point of becoming passive for him (the vending market is pretty saturated in most decently populated urban areas, and employment erodes profitability).

                      Just fyi so unrealistic expectations aren’t set.

                      #86918 Reply

                        When I was little my dad and mom would attend music festivals. My mom would buy drinks and snacks in bulk for us to sell to festival goers.

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