Everyone is dying to know the secret sauce to become a millionaire fast.
And I’m here to tell you that there is no fast track and you absolutely cannot depend on getting lucky. You have to put in the work.
It’s as simple as that.
Over the last 5 years, I created 3 companies a vending machine business, an autism adult care agency, and a digital education business.
But trust me, this is new to me. 5 years ago I was poor. The kind of poor where I’d take my girlfriend on a date to Applebees but only go after 9 pm because the appetizers would be half off.
When I decided that I needed to make a change and build a better future for my son is when the hard work started.
I had losses. It took a lot of hard work. A lot of tears and a lot of self-reflection too.
I’ve lost jobs multiple times, had no money in my account, had to move back in with my mother, etc. But I never gave up, that is what real success is made of.
Over 70% of millionaires are self-made. That means most of the people who have the wealth you may aspire to have, started out just like you. They had to work hard, they had to struggle, they had to believe.
When I was grinding I always thought to myself "Nothing separates them from me. If they can do it, I can do I.”
Now today I can officially say I’m a millionaire. I’m still wrapping my mind around out. It still feels weird to say it. But it’s the truth. I’m a millionaire.
You are too, you just aren’t at that step in your journey yet. So tonight when you lay in bed, don’t stress, don’t stay up chasing the money. Get some sleep. Nothing happens overnight so you won’t miss anything.
3 weeks ago, I made $48,000 selling one of my vending locations with 2 vending machines.
But before I tell you how I did this and how it can be a reality for you too. I need you to do something first.
Forget everything you think you know about vending and think of it like this.
Vending machines are mini stores that most of the time, live rent-free on other people’s property.
So essentially you get to profit on other people’s real estate because you provide the most consumed product on earth. They become cash-flowing as soon as they’re placed and the initial investment you make usually pays itself off usually in 6 months to a year.
Realistically, when you invest in assets it can take YEARS before you see a good ROI (return on investment). And in some industries like real estate, you usually have to put down 10x as much to get started. In September, a new location found my website through Google and requested my services.
It was a warehouse with 60-70 employees.
I placed two machines in October and by the 2nd month, they were making over $4,000 a month.
I initially paid $3,200 total for 1 drink and 1 snack machine with card readers. However, I had to pay an additional $6,000 for a brand-new drink machine because the other was cheap and was giving me issues, this is why I always recommend never being cheap when it comes to business.
Being cheap is expensive!
Anyways, in the vending machine industry, if you are seeking to sell your cash-flowing location with the machines included, the standard is that you can sell your location for 1 times the annual revenue.
So, because the machines grossed $4,000 a month, we multiplied x12 and I was able to sell it for $48,000 in April. So let’s do the math.
An initial investment of $9200, turned into a gross profit of $48,000 check in only 7 months.
Here’s the best part….
I had already made my money back with my monthly sales, so it was all profit!
It’s important for me to share my experiences with you so that you can understand the real value in the vending machine industry.
I also want you to understand that once you get a profitable location there are people out there looking to buy that location because it’s already a cash-flowing business.
My location was cash-flowing, paid itself off AND I was able to sell at a profit.
Where else can you do that?
If there's one thing I can say about growing my vending business to being worth $1 Million, it's that I would not be in this exact place where I am today without my family.
When I started: I wanted a better life for my son. I wanted to show my brothers that this kind of entrepreneurship was possible, and most importantly I wanted to retire my mom. It pushed me to step out comfort zone and say f*ck fear and make my first investment in vending.
As I scaled: I wanted to employ my sister full time, so I did. She moved from Rochester to Philly and she's been working with me full time for 3 years (wow it's crazy to type this lol I hadn't realized it until now). I also started to listen to my girlfriend (now wife) as she insisted that I needed to invest in SEO (make it easy for my business to be found on google) and she encouraged me to take on this vending thing full time. That SEO has landed me my very best locations.
Now Today: I employ my wife and my sister full time. My baby sister and my child's mother part time. Two of my brothers are entrepreneurs gettin it for their families. I pay my mom's mortgage and I'm so damn close to retiring her.
Older Sis, Wife, Me, My son, Son's Mom and Baby Sis
For most of my students, it's the same for them. They're either doing vending for family or with family. And I love that, this is what it's all about.