WEBVTT - Study Hall: HOW TO START A VENDING MACHINE BUSINESS 0:00:00.400 --> 0:00:04.280 You just realized your business needed to hire someone yesterday. 0:00:04.800 --> 0:00:09.520 How can you find amazing candidates fast? Easy? Just use Indeed. 0:00:09.960 --> 0:00:12.680 Stop struggling to get your job posts seen on other 0:00:12.760 --> 0:00:16.439 job sites. With Indeed sponsored jobs, your post jumps to 0:00:16.480 --> 0:00:19.040 the top of the page for your relevant candidates, so 0:00:19.120 --> 0:00:22.119 you can reach the people you want faster. According to 0:00:22.160 --> 0:00:26.120 Indeed data, sponsored jobs posted directly on Indeed have forty 0:00:26.120 --> 0:00:30.040 five percent more applications than non sponsored jobs. 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So I mean the cheapest you're 0:01:10.200 --> 0:01:11.800 going to find it is always going to be somewhere 0:01:11.880 --> 0:01:14.360 run one thousand dollars if you're using a used machine 0:01:14.720 --> 0:01:17.000 versus if you're coming in with something new. You're looking 0:01:17.040 --> 0:01:19.360 at about five grand five grand for a brand new 0:01:19.360 --> 0:01:21.600 one brand like brand new team in the top of 0:01:21.640 --> 0:01:23.600 the line of new or used. 0:01:23.600 --> 0:01:25.480 I didn't even know that there were new use machines. 0:01:26.480 --> 0:01:27.720 How where do we even get this? 0:01:27.880 --> 0:01:28.039 Like? 0:01:28.200 --> 0:01:31.520 Where am I finding a new machine? Where do I go? So, 0:01:31.680 --> 0:01:33.440 I mean new machines you could get from like the 0:01:33.440 --> 0:01:37.319 manufacturers actually making like coke, PEPSI like those type of 0:01:38.200 --> 0:01:39.840 places you can buy and trade from them. 0:01:39.880 --> 0:01:41.920 Those are where the new machines come from. And we're 0:01:41.920 --> 0:01:44.360 talking about actual what I mean, there's different types. We're 0:01:44.360 --> 0:01:48.120 talking about food vended machines, so we're talking about sodas, snacks. 0:01:48.200 --> 0:01:51.120 They do have food, they have ice cream machines. It's 0:01:51.120 --> 0:01:53.520 a lot of different different types. So if you're talking 0:01:53.520 --> 0:01:56.120 about used machines, which is you know, I use use machines, 0:01:56.160 --> 0:01:58.520 and that's what I recommend everybody else to use, mainly 0:01:58.560 --> 0:02:01.360 because it's easier than ain't team, and it's a lot 0:02:01.360 --> 0:02:04.080 more affordable, Like the price is nowhere close to you know, 0:02:04.120 --> 0:02:05.960 five thousand dollars. You can get a used machine for 0:02:06.080 --> 0:02:08.400 around nine hundred, which is what my first machine was, 0:02:09.840 --> 0:02:12.600 and you could find those on places such as like crackslist, 0:02:13.440 --> 0:02:14.120 offer up. 0:02:14.120 --> 0:02:18.359 Amazon, let go, it might be a little more Amazon. 0:02:18.760 --> 0:02:20.519 And then the only reason I wouldn't I would say 0:02:21.120 --> 0:02:23.560 not to get it off like a platform where it's 0:02:23.600 --> 0:02:26.120 like online, because I would recommend you checking the machine 0:02:26.120 --> 0:02:27.560 out first. You don't want to get it and get 0:02:27.560 --> 0:02:29.640 it in, get it where you want to put it, 0:02:30.080 --> 0:02:31.560 and then it's not working right, and then you have 0:02:31.600 --> 0:02:33.600 to ship it back Like that's a that's a long process. 0:02:33.800 --> 0:02:36.120 You said, let go, Yeah, what's what's that? 0:02:36.280 --> 0:02:36.920 So it's an app? 0:02:37.160 --> 0:02:37.640 It's an app? 0:02:37.720 --> 0:02:41.560 Yeah, so let go offer up a Facebook market. But 0:02:41.880 --> 0:02:45.120 it just depends that. And another thing is it matters 0:02:45.240 --> 0:02:47.679 is how are you How are you trying to scale this? 0:02:48.120 --> 0:02:50.880 Do you wanted this to be on some side hustle 0:02:50.919 --> 0:02:53.320 passive income stuff or do you want to grow it 0:02:53.360 --> 0:02:56.320 into like a full time business. Because if you're just 0:02:56.360 --> 0:02:58.000 doing it as a side hustle, just earn some extra 0:02:58.080 --> 0:03:01.560 realdum assign you know you and those resources such as 0:03:01.600 --> 0:03:04.480 like you know cress is fine. But if you really 0:03:04.480 --> 0:03:06.000 want to do it, like for a time, you want 0:03:06.000 --> 0:03:09.119 to find like what I what I call vending warehouses. 0:03:09.560 --> 0:03:13.480 So a vending warehouse is just a vending company that 0:03:13.639 --> 0:03:16.320 is large enough to sell you vending machines. So that's 0:03:16.360 --> 0:03:18.040 kind of how we make our money. On the back end, 0:03:18.440 --> 0:03:20.720 I might have some machines setting around and then our 0:03:20.840 --> 0:03:23.760 cellos to anybody who's looking to buy it. 0:03:24.000 --> 0:03:25.519 Where do you find vending warehouses? 0:03:25.840 --> 0:03:28.680 So you would have to google vending machine companies in 0:03:28.720 --> 0:03:31.720 your area and then contact them and see if they. 0:03:31.560 --> 0:03:33.000 It's all regional, it's all regional. 0:03:33.200 --> 0:03:35.680 Yeah, after I order it, I'm thinking to myself right 0:03:35.680 --> 0:03:39.600 now I'm ordering machine, Probably need the location first, right, 0:03:39.680 --> 0:03:41.720 because they're going to send that to your house, right, 0:03:41.760 --> 0:03:42.640 So do they send it to? 0:03:42.840 --> 0:03:46.240 What happens after I order it? So you could you 0:03:46.240 --> 0:03:48.880 could pick it the machine up first. Our I recommend 0:03:48.880 --> 0:03:52.920 to people always always always get the machine after you 0:03:52.920 --> 0:03:55.320 have the location, for multiple reasons. Because if you go 0:03:55.360 --> 0:03:57.560 out and you get excited, Okay, I'm going to vending thing. 0:03:57.960 --> 0:03:59.960 I see a cheap soulda machine, This is a great deal. 0:04:00.400 --> 0:04:02.240 You buy it. Maybe you got it in your garage 0:04:02.280 --> 0:04:04.320 or something like that. You don't know what type of 0:04:04.320 --> 0:04:06.920 location you're gonna get first, So that means you don't 0:04:06.920 --> 0:04:08.840 know what that location is going to need. Maybe they 0:04:08.880 --> 0:04:10.320 already got a sort of machine, maybe they need a 0:04:10.320 --> 0:04:13.120 slack machine. Maybe it won't right. And then that's another thing. 0:04:13.160 --> 0:04:17.359 You don't know what the measurements are for that space 0:04:17.400 --> 0:04:19.320 they have to put the machine. So it could be 0:04:19.520 --> 0:04:21.719 the machine you make you could have maybe too big, 0:04:21.760 --> 0:04:23.719 maybe it's too big to fit through the doorway. Maybe 0:04:23.760 --> 0:04:25.880 it's too big for the space that they actually want 0:04:25.920 --> 0:04:28.320 the machine. So it's always best to wait until you 0:04:28.360 --> 0:04:31.320 get that location you know, on a paper, and then 0:04:31.360 --> 0:04:33.039 you go out and get your machine. But on the 0:04:33.040 --> 0:04:36.159 flip side, you also want to know your resources first, 0:04:36.240 --> 0:04:37.719 Like you want to know where you're getting that machine 0:04:37.760 --> 0:04:41.000 from prior to you know, finding your location. 0:04:41.440 --> 0:04:44.200 So like what's some typical are they like typical profit margins? 0:04:44.200 --> 0:04:46.479 Like how much money can should a person expect to 0:04:46.480 --> 0:04:47.839 make off of like one machine? 0:04:48.400 --> 0:04:51.360 So an average good a good location, well, you'll see 0:04:51.360 --> 0:04:54.320 around five hundred dollars for the foot per machine. Right, 0:04:54.400 --> 0:04:56.640 most locations have two machines, you know what I'm saying, 0:04:56.720 --> 0:04:58.680 unless it's like a combo if most of the time, 0:04:58.680 --> 0:05:01.000 if you'll find a combo machine, it's in a smaller 0:05:01.480 --> 0:05:03.680 in a smaller space because they can't fit two machines, 0:05:04.240 --> 0:05:08.240 or it's because maybe it's a slower that has slower traffic, 0:05:08.279 --> 0:05:10.440 lower traffic, and you don't want to put two machines 0:05:10.480 --> 0:05:12.239 in there, you know that type of situation. 0:05:12.400 --> 0:05:14.560 So like a thousand dollars if you have two machines 0:05:14.600 --> 0:05:15.560 in one location. 0:05:15.279 --> 0:05:16.400 Yeah, that's about that, right. 0:05:16.560 --> 0:05:18.600 When you have to find locations, you obviously looked at 0:05:18.640 --> 0:05:20.480 your life. You said, look, I played ball here, I'm 0:05:20.480 --> 0:05:22.880 gonna put one here. That's my high school, that's my barbershop. 0:05:23.120 --> 0:05:24.920 What does the average person have to do in terms 0:05:24.960 --> 0:05:28.680 of finding locations? So step one now, Now to be 0:05:28.680 --> 0:05:32.400 honest with y'all, Like, I had experience in like different 0:05:32.480 --> 0:05:36.200 marketing before beforehand, so I was already kind of seasoned 0:05:36.400 --> 0:05:40.919 season with uh networking and more and reaching people and 0:05:40.960 --> 0:05:44.160 calling all that type of stuff. The wholesaleing I did 0:05:44.160 --> 0:05:48.000 do whole something, So yeah, so I used those same 0:05:48.040 --> 0:05:50.680 type of tactics to find locations because it was I 0:05:50.760 --> 0:05:53.000 learned a lot from actually going out and trying to 0:05:53.040 --> 0:05:55.000 find properties, you know what I'm saying when I was 0:05:55.080 --> 0:05:57.520 doing the wholesaling thing. So the first thing I did 0:05:57.560 --> 0:06:00.280 was network so I reached out to everybody, aroun me, 0:06:00.400 --> 0:06:02.640 all my friends, all my family members, let them know 0:06:02.680 --> 0:06:04.640 what I was doing. And this through doing that, it 0:06:04.720 --> 0:06:07.480 led me to having like my first few locations, you 0:06:07.520 --> 0:06:08.839 know what I'm saying. So that's how I ended up 0:06:08.839 --> 0:06:11.560 getting a school like you do this name, which is 0:06:11.600 --> 0:06:14.320 my prior in high school. I talked to them, you know, 0:06:14.400 --> 0:06:17.080 they let me place a vending machine in there, and 0:06:17.120 --> 0:06:19.120 it led me to you know, getting a few other spots. 0:06:19.360 --> 0:06:21.240 You know, I'm just thinking about it. A lot of 0:06:21.400 --> 0:06:24.080 places that yeah they have two vendom machines, like a 0:06:24.080 --> 0:06:28.400 community center, a school. Yeah, you have two vending machines. Yeah, 0:06:29.160 --> 0:06:32.000 I never thought about that before. I mean, or trying 0:06:32.000 --> 0:06:34.000 to cut you off. You can have two vending machines 0:06:34.080 --> 0:06:37.279 right next to each other, Like one is sodas and drinks, 0:06:37.640 --> 0:06:40.080 the other one is candies and chips and stuff. 0:06:40.120 --> 0:06:41.800 Yeah, they always like right next to right next to 0:06:41.839 --> 0:06:42.160 each other. 0:06:42.560 --> 0:06:44.120 So that's not bad if you think about it, Like 0:06:44.120 --> 0:06:47.839 a thousand dollars, that's like you could be getting rental income, 0:06:48.720 --> 0:06:50.839 but it's a lot less overhead as far as buying 0:06:50.839 --> 0:06:51.200 a home. 0:06:51.839 --> 0:06:54.279 Yeah, So that was what I was gonna say. Two things. 0:06:54.279 --> 0:06:56.800 Well, first of when these big corporations, like if I 0:06:56.839 --> 0:06:59.080 see a Coca Cola machine, right, that's a vending machine. 0:06:59.120 --> 0:07:00.000 Can I purchase that from? 0:07:00.120 --> 0:07:02.159 Or is the corporation putting that in the location, because 0:07:02.160 --> 0:07:03.839 you could have two venom machines and then they have 0:07:03.960 --> 0:07:04.880 all coke products? 0:07:05.240 --> 0:07:07.440 Can you purchase that? Can you purchase it from home 0:07:07.480 --> 0:07:09.800 from like Coca Cola? Is that like a thing? Can 0:07:09.840 --> 0:07:13.040 you get a venom machine from a corporation you're talking 0:07:13.040 --> 0:07:15.320 about as far as have if the machine is placed 0:07:15.320 --> 0:07:17.720 somewhere or if there is manufacturing the machines. 0:07:17.840 --> 0:07:20.080 Well, so I'm thinking in terms of I have my 0:07:20.200 --> 0:07:22.600 venom machine, you right, I have two of them there. 0:07:22.480 --> 0:07:24.800 And then there's like a coke machine those coke products. 0:07:24.960 --> 0:07:26.720 Is that something like the average person can purchase or 0:07:26.760 --> 0:07:29.280 is just straight from the corporation? So so all right, 0:07:29.320 --> 0:07:33.080 so Coke does Coke actually places machines themselves. So but 0:07:33.120 --> 0:07:36.880 then what they'll do is they don't they actually just 0:07:36.920 --> 0:07:41.440 will place the machine, right, But the thing is the 0:07:41.480 --> 0:07:44.280 person they would have to like charge a certain amount 0:07:44.600 --> 0:07:47.720 the in products. So the products. Once you buy a 0:07:47.720 --> 0:07:50.280 certain amount of products from from Coke, they'll play they 0:07:50.320 --> 0:07:51.840 get you. They get a place of vendo machine for free, 0:07:52.520 --> 0:07:54.880 so and then they'll service it or whatever like. So, 0:07:55.800 --> 0:07:58.480 if you're talking about like that machine is there, most 0:07:58.560 --> 0:08:00.640 more than likely your machine won't be because they'll have 0:08:00.640 --> 0:08:02.840 some type of contract with Coca Cola and they're not 0:08:02.880 --> 0:08:04.040 gonna let nobody else in there. 0:08:04.600 --> 0:08:06.760 So as far as location, because I know you said 0:08:06.760 --> 0:08:13.320 that you had a couple of different keys, foot traffic, isolation, uh, 0:08:14.640 --> 0:08:19.040 waiting rooms, so all of these different things. But before 0:08:19.080 --> 0:08:21.680 you even get to that, how do you approach somebody 0:08:21.720 --> 0:08:23.160 to put a vending machine in their place? 0:08:23.280 --> 0:08:23.360 Like? 0:08:24.000 --> 0:08:28.280 All right, so you see a school, like, what's the 0:08:28.320 --> 0:08:30.320 process to say, Hey, can I put a veto machine here? 0:08:30.320 --> 0:08:31.120 I talked to the principal. 0:08:31.840 --> 0:08:32.400 How does that work? 0:08:32.440 --> 0:08:34.240 So that's a good question. Man, That's a lot of 0:08:34.280 --> 0:08:36.920 questions everybody ask us. But at all I really do 0:08:37.040 --> 0:08:40.120 is I'll approach whoever the receptionist is that they're at 0:08:40.120 --> 0:08:42.640 first point in contact, and I'll ask them who I 0:08:42.679 --> 0:08:46.199 need to speak to to place a machine here. So 0:08:46.280 --> 0:08:48.600 it's usually the person that everybody usually has a person 0:08:48.640 --> 0:08:51.240 who's in charge of doing business. So the high school, 0:08:51.240 --> 0:08:53.640 as a you know, a business manager, I had to 0:08:53.760 --> 0:08:56.000 talk to them So if you're if I'm going into 0:08:56.040 --> 0:08:57.720 a motel or something, most of the time they have 0:08:57.760 --> 0:08:59.679 a business manager if you talk to them. So it's 0:08:59.720 --> 0:09:02.080 just a about asking that first point of contact get 0:09:02.200 --> 0:09:04.160 you know, obviously if you could find a manager or 0:09:04.160 --> 0:09:06.319 something like that, reach you, you could reach and but then 0:09:06.400 --> 0:09:08.920 ask that person, who's the person who's that I have 0:09:09.000 --> 0:09:10.840 to talk to? That actually makes the decision. 0:09:11.200 --> 0:09:13.000 So once you get in the high school, you get 0:09:13.040 --> 0:09:14.880 into the recreation center, is there a fee that you 0:09:14.920 --> 0:09:17.200 have to pay for being there or it's just part 0:09:17.200 --> 0:09:18.880 of the profit margin you have to give to the places? 0:09:18.960 --> 0:09:21.920 Like how's that work? So it's all about from my experience, 0:09:22.000 --> 0:09:24.280 it's all about how you get that how you get 0:09:24.280 --> 0:09:28.959 that spot. So if you have you have different resources 0:09:29.080 --> 0:09:32.640 you're using to get locations. Right, If one thing that 0:09:32.720 --> 0:09:34.760 you could do is you out, you go out yourself 0:09:35.200 --> 0:09:38.000 and you actually look for locations. Like you know, when 0:09:38.000 --> 0:09:41.319 we talk about the whole sort of thing, it's called 0:09:41.320 --> 0:09:43.920 like driving for dollars. You're that term, yeah, right, So 0:09:44.000 --> 0:09:46.120 that's a method you go out driving around. I actually 0:09:46.120 --> 0:09:49.480 found the laundrymat the other day just driving around. I 0:09:49.559 --> 0:09:51.280 wasn't even looking for it, but I just happened to 0:09:51.320 --> 0:09:53.040 see it, and actually I'll put it on Instagram, So 0:09:53.080 --> 0:09:54.640 I put it on a lot just to show people 0:09:54.640 --> 0:09:56.560 like this is like, you know, how easy it is 0:09:56.600 --> 0:09:58.240 to find something and if you're paying attention to what's 0:09:58.240 --> 0:10:02.480 around you. So that's one method and another methods like 0:10:02.520 --> 0:10:04.920 cold calling, which is you just make a list of 0:10:05.040 --> 0:10:09.719 multiple places and that that may be suitable for a 0:10:09.800 --> 0:10:12.640 vendom machine in your area that you're looking at place 0:10:12.679 --> 0:10:15.200 one like using zip codes or whatever, and you know, 0:10:15.200 --> 0:10:17.120 and you just call them if you're doing that method. 0:10:17.120 --> 0:10:18.480 Most of the time I found when you found it 0:10:18.559 --> 0:10:20.760 like a location like that, they ask for a commission 0:10:20.800 --> 0:10:22.760 because you're asking to come into their space and do 0:10:22.840 --> 0:10:26.280 business like you're asking for something from them. Right now. 0:10:26.400 --> 0:10:29.840 On the flip side, you get a website right the top, 0:10:29.880 --> 0:10:32.360 the most the top that the most common thing people 0:10:32.400 --> 0:10:35.120 do is when they're looking for vending services. If you know, 0:10:35.160 --> 0:10:38.200 you're just opened up your store, your business or whatever 0:10:38.240 --> 0:10:40.240 it may be, it's Google, So they go right to 0:10:40.280 --> 0:10:44.360 Google Vendom Machine service and Philadelphia my joone is like 0:10:44.360 --> 0:10:46.760 one of the top ones on there. So you click 0:10:46.840 --> 0:10:50.120 on that, they they call you, they contact you, and 0:10:50.160 --> 0:10:52.560 then they're gonna ask you to place a vending machine 0:10:52.559 --> 0:10:56.000 in their place of business. So most not in that scenario. 0:10:56.080 --> 0:10:57.040 Most of the time they don't ask you for a 0:10:57.040 --> 0:10:59.040 commission because they just want your service. They want your 0:10:59.080 --> 0:11:02.720 service for their customers, are for their employees off for 0:11:02.760 --> 0:11:04.800 whatever reason. It's just like, yeah, we just want to service. 0:11:04.800 --> 0:11:06.439 We're not worried about commission. 0:11:06.600 --> 0:11:09.480 So if you approach them, you got to pay them 0:11:09.520 --> 0:11:11.800 most of the time. If they approach you, you don't 0:11:11.800 --> 0:11:12.439 have to pay. 0:11:12.360 --> 0:11:13.720 Most of the time most of the time. That's how 0:11:13.800 --> 0:11:16.160 that goes. That also depends on what type of place 0:11:16.200 --> 0:11:17.679 it is, you know, because if you're dealing with like 0:11:17.760 --> 0:11:20.840 recreation centers and schools, a lot of times those those 0:11:20.840 --> 0:11:25.480 facilities are like the prod the funds already, so they 0:11:25.559 --> 0:11:28.360 always looking for different ways to supplement, you know, some income. 0:11:28.480 --> 0:11:29.880 So they're going to bring that up. 0:11:30.080 --> 0:11:32.439 So what kind of commission is fair? Like if somebody 0:11:32.520 --> 0:11:34.760 I'll let you put ahead, but here's you gotta give 0:11:34.800 --> 0:11:37.360 me twenty percent temper, Like what's a fair amount that 0:11:38.440 --> 0:11:39.120 a fear. 0:11:38.960 --> 0:11:42.120 Amount really depends on the traffic and that location, but 0:11:42.320 --> 0:11:45.320 you typically it's around ten percent. Yeah, ten percent is 0:11:45.520 --> 0:11:47.000 It's like a fear amount most of the time if 0:11:47.040 --> 0:11:47.800 it's a good location. 0:11:48.280 --> 0:11:51.160 So you you sit down, you say that we can 0:11:51.200 --> 0:11:52.400 have the vend machine here. 0:11:52.840 --> 0:11:55.240 What we do next we drawing up a contract. Right 0:11:55.320 --> 0:11:58.199 so at the point where they give me the person 0:11:58.200 --> 0:12:01.360 of contact and they said they interested, and I'll schedule 0:12:01.400 --> 0:12:03.400 a meeting with them, so we'll sit there like we're talking. Now, 0:12:03.840 --> 0:12:06.679 I'll have a proposal, which is something I came up 0:12:06.720 --> 0:12:09.120 with just from doing the meetings, and it's all the 0:12:09.160 --> 0:12:11.800 information is in the proposal, which just cuts down the 0:12:11.880 --> 0:12:13.920 meet in town. So you know, in there it's just 0:12:14.000 --> 0:12:17.200 about the uh, your business, a little bit about yourself. 0:12:17.440 --> 0:12:19.120 You want to put the products that you use, what 0:12:19.280 --> 0:12:22.400 makes you different than other companies, your price points for 0:12:22.480 --> 0:12:25.000 your products. Just present all that to them and then 0:12:25.040 --> 0:12:26.880 you know, if if they like that, then I also 0:12:26.960 --> 0:12:29.880 have the contract there so and if they're good with 0:12:29.960 --> 0:12:31.880 the contract, you know we signed it right there. Do 0:12:31.920 --> 0:12:34.240 the deal right there. Now. Sometimes it doesn't go that way. 0:12:34.360 --> 0:12:38.160 Sometimes they might want certain contingencies or whatever in the contract. 0:12:38.160 --> 0:12:40.200 So if they want that and you ask, you have 0:12:40.280 --> 0:12:41.679 you know, obviously you have to go back and draw 0:12:41.760 --> 0:12:43.280 up a new contract and get them to sign that. One. 0:12:43.360 --> 0:12:45.160 Yeah, I'm thinking of like the school, right, so I'm 0:12:45.160 --> 0:12:46.920 thinking like one of the contendencies they might have is 0:12:46.960 --> 0:12:50.000 like you can't serve a certain amount of sugar. 0:12:49.840 --> 0:12:53.320 Yeah, exactly, certain certain products. And then it's like some 0:12:53.360 --> 0:12:57.840 people will want your actual service hours in there, or 0:12:57.880 --> 0:13:02.400 they'll want if basically like if if something goes wrong, 0:13:02.520 --> 0:13:04.040 you have to repair it by all this amount of 0:13:04.040 --> 0:13:06.480 time type of thing like, so that stuff is usually 0:13:06.520 --> 0:13:08.400 people usually tweak, but for the most part, they did 0:13:08.520 --> 0:13:09.880 go about what's on the paper. 0:13:10.160 --> 0:13:14.120 So okay, So as far as let's go back to location. 0:13:14.240 --> 0:13:16.920 So like you said, you said foot traffic, accessibility, isolation, 0:13:17.480 --> 0:13:20.880 and waiting rooms. Those are like your four golden rules, right, 0:13:20.960 --> 0:13:23.120 oh the one second. So and then for the commission 0:13:23.160 --> 0:13:25.720 that I never bring up commission. So never never sit 0:13:25.800 --> 0:13:27.720 down with a location and say, all right, well, this 0:13:27.800 --> 0:13:29.200 is the amount that we're paying commission. 0:13:29.320 --> 0:13:32.120 If they don't mention it, oh yeah, no, give them money. 0:13:32.200 --> 0:13:35.040 Yeah no, no, no no. Some people think that that's like 0:13:35.080 --> 0:13:37.120 a pitching like point, is that we can pay you 0:13:37.200 --> 0:13:39.280 this much in commission, but don't mention. 0:13:39.240 --> 0:13:41.160 That, because it's not. That's a good that's a good 0:13:41.200 --> 0:13:45.320 point because you might automatically assume that you have to 0:13:45.360 --> 0:13:47.360 pay because you're you're in their space. But like you said, 0:13:47.400 --> 0:13:50.800 it's kind of like an attraction where it's like, like 0:13:50.880 --> 0:13:53.160 my son goes to camp. Every time I pick him out, 0:13:53.280 --> 0:13:55.000 he's like, can you give me something? The venom machine. 0:13:55.120 --> 0:13:56.679 So it's like, you know what I'm saying, It's like 0:13:56.880 --> 0:14:00.440 the vending machine is actually helping in that situation because 0:14:00.440 --> 0:14:02.280 it's like people something you might just walk into a 0:14:02.320 --> 0:14:04.000 space just to use the vending machine. 0:14:04.200 --> 0:14:07.440 Right, So that now I'm thinking about from the business standpoint, 0:14:07.480 --> 0:14:09.360 having a school during the year is great. Having a 0:14:09.400 --> 0:14:13.320 recreation center during the summer gold month all kids. 0:14:13.080 --> 0:14:17.320 Want, well no recreations. Recreation centers doing the school year 0:14:17.360 --> 0:14:20.800 are good too because they have different programs and they 0:14:20.800 --> 0:14:22.120 have basketball games and stuff. 0:14:24.360 --> 0:14:30.200 Yeah. So all right, so location, location, location is the 0:14:30.240 --> 0:14:33.800 most important thing in real estate period. And I guess 0:14:33.840 --> 0:14:35.720 it's no different from vending machine either, Right, you got 0:14:35.760 --> 0:14:37.960 the best vending you could be giving away gold bars 0:14:38.000 --> 0:14:41.280 if it's in the desert, doesn't matter. So how do 0:14:41.320 --> 0:14:43.360 you know what's a good look? I mean obviously, well 0:14:43.400 --> 0:14:44.960 I don't say obviously. How do you know what's a 0:14:44.960 --> 0:14:47.360 good location or not so, I mean from what you 0:14:47.440 --> 0:14:50.040 just basically what you just mentioned, but I picked them 0:14:50.080 --> 0:14:52.960 up as time went on, just noticing different things. So 0:14:53.040 --> 0:14:56.880 when I'm walking into a location, I go with a checklist. 0:14:56.880 --> 0:14:58.440 I don't really use it anymore because I kind of 0:14:58.520 --> 0:15:00.560 like know now, but it's best to have a checklist 0:15:00.600 --> 0:15:01.720 and use this. And this is what you want to 0:15:01.720 --> 0:15:04.120 look for. So you want to look for when you 0:15:04.160 --> 0:15:07.360 pull up to the space. Is it any stores around 0:15:07.360 --> 0:15:09.760 that building? So when I say isolation, that that's what 0:15:09.800 --> 0:15:11.960 I'm talking about. So I'll take a lap of two 0:15:12.040 --> 0:15:14.560 laps around. See I'm looking for corner stores. I'm looking 0:15:14.600 --> 0:15:16.760 at this for other places to eat, all right. So 0:15:17.080 --> 0:15:18.480 if if I don't see no other places to eat, 0:15:18.480 --> 0:15:20.520 I'm like, okay, so that's that's a good sign. 0:15:21.120 --> 0:15:23.280 Right. And then when I walk in the door, I'm 0:15:23.280 --> 0:15:25.440 looking in terms of moving I'm looking for steps and 0:15:25.440 --> 0:15:26.680 all that type of stuff because you have to move 0:15:26.680 --> 0:15:28.320 the machine in there. When it terms of what makes 0:15:28.320 --> 0:15:31.320 it a good location, I'm I'm looking to see where 0:15:31.360 --> 0:15:34.360 the machine will be placed, all right. So I'm like, 0:15:34.360 --> 0:15:36.760 all right, well, is it placed somewhere where it's visible 0:15:36.920 --> 0:15:38.800 and people could see it? Because I had one situation 0:15:38.840 --> 0:15:40.680 where I had a it was a hotel wanted me 0:15:40.760 --> 0:15:42.840 to put a machine in there, but they wanted a 0:15:42.880 --> 0:15:44.800 machine like in the in the back way in the 0:15:44.840 --> 0:15:47.200 back where nobody would see it. And on the flip side, 0:15:47.200 --> 0:15:50.160 it had a gas station right next door. So when 0:15:50.200 --> 0:15:52.320 I was watching, I'm watching people come in and they 0:15:52.480 --> 0:15:54.320 just making the left turn, right out or right to 0:15:54.360 --> 0:15:54.840 the gas station. 0:15:54.880 --> 0:15:57.880 I'm like, the gas station is the place now that 0:15:57.880 --> 0:15:58.440 they're gonna get that. 0:15:59.040 --> 0:16:00.760 They see the gas station because it's right because it 0:16:00.840 --> 0:16:03.040 was a big glass, you know door obviously and it's 0:16:03.080 --> 0:16:05.800 right there. Versus if that machine is placed in the lobby, 0:16:05.800 --> 0:16:07.360 they just would have used the machine. Then nobody wants 0:16:07.400 --> 0:16:08.560 to walk all to be over there if you ain't 0:16:08.560 --> 0:16:11.160 got too only in the night shift, right, So so 0:16:11.360 --> 0:16:14.280 you know that's that's real important. It's important is is 0:16:14.320 --> 0:16:18.800 it being visible and it being accessible to everyone? So 0:16:18.840 --> 0:16:21.440 if everybody can use it, if it's visible, that that's 0:16:21.480 --> 0:16:26.280 a good sign. Another thing I'm looking for is hours 0:16:26.320 --> 0:16:29.400 of operation. So how long is this place open? Like 0:16:29.400 --> 0:16:32.120 you said night shift, Some places open twenty four hours, right, 0:16:32.120 --> 0:16:34.360 That gives you more selves versus it only being opened 0:16:34.440 --> 0:16:38.120 for nine to five like, so that's another that's another 0:16:38.160 --> 0:16:42.680 important brieteria close now right, So, and then probably the 0:16:42.760 --> 0:16:48.120 last thing I'm looking for is foot traffic, right, which 0:16:48.120 --> 0:16:49.480 is one of this is the most important thing. You 0:16:49.480 --> 0:16:52.040 want to see. How many employees they got, how many 0:16:52.040 --> 0:16:54.120 people are visiting this place, how many people are in 0:16:54.160 --> 0:16:55.880 and out coming past this machine? 0:16:56.200 --> 0:16:58.000 Yeah, one of the things you said, And as you 0:16:58.080 --> 0:17:00.640 said it, I was like, wow, that's brilliant. Places that 0:17:00.720 --> 0:17:02.680 have ideal time where people are just waiting. So I 0:17:02.680 --> 0:17:05.119 would say a hospital, but when you just set laundry mat, 0:17:05.200 --> 0:17:08.560 I'm thinking like, oh my gosh, yeah, like people are 0:17:08.560 --> 0:17:10.520 sitting in there all day watching machines. 0:17:10.560 --> 0:17:14.520 Though, no, laundry mats are big. Schools are big, Recreation 0:17:14.640 --> 0:17:17.359 centers are big, Hospitals are big. 0:17:17.920 --> 0:17:18.960 I'm thinking that's a number one. 0:17:19.000 --> 0:17:24.920