Yes, my $7,000 loan on prosper DID GET FUNDED! I don't have the $7,000 in hand yet but as soon as my bank account is verified it should be transferred over! How exciting is this?! So, now I need to come up with a plan on how to invest the money. Let me go over my current financial/candy situation.
I have 12 machines left and enough candy for 1 of them. I'm out of candy money, so thank god that this loan went through. The point is, I'm going to have to buy some candy with this money.
Candy for 11 machines X $30 = $330
Also, I want to buy new machines and have my current 12 machines located for me. Let's look at the 12 I have now first.
Locations for 12 machines X $35 (with a new locator, test run, special deal) = $420
Left over money for new machines, candy, and locations = $6250 - $70(fee that prosper takes from the $7000 loan.) = $6180
Now, with this money let's get as many machines out on the town as possible!
40 Machines X $95 = $3800
40 Machines Located X $35 = $1400
40 Machines Candy X $30 = $1200
Total = $6400 I think I can come up with the extra $220. So what do you guys think? The loan payment for prosper is about $240 per month for 3 years. I don't think this will be a problem. Who's excited?!!?
Also, I checked one of my machines yesterday at a restaurant. Now, granted this is a great location. And, I didn't count the quarters, I just looked. But there had to be AT LEAST $20 in quarters in that machine and I'm being very conservative with that number, it could be a lot more. Anyway, now you know my situation. Let me hear your remarks! What do you think?!
Candyman
UPDATE: Dropped off machines at KMART and AUTO PLACE, locator found.
skip to main |
skip to sidebar
My name is Robert. I graduated from the University of Central Florida with my B.S.B.A. My specialty is business finance. After my first 10 machines find homes and I get this business down I'm going to leverage as much money as I can to buy more machines. You can call me the Candyman. - Cataloging my experiences from Day 1.
Email Updates Available
CANDYMAN EMAIL
RobertNPatterson@gmail.com
Links
About Me
- Robert Neil Patterson II
- Naples, FL, United States
- An entrepreneur at heart; I have owned many businesses through out my young life. Before vending I was a PowerSeller on eBay with sales exceeding $20,000 a month. I did this while in college so it was sort of a mess. Anyway, it's risky, scary, and a lot of work, but fun. It's not as easy as people make it seem. I have also written a book on Stock Options. It's called Stock Options 101. I have sold over 200 copies on eBay for $3.99 (I don't sell it anymore) and if you want a copy I will be happy to send it to you. It is in PDF form so I can email it to you. Obviously, I have traded stock options before. I like risk and love great reward. I think one reason I like the vending business is because it's a risk for me to go in and sell. By the way I have 100 of my own bulk machines in Naples, FL. Check out http://www.kickstartlocations.com/forum for my Bulk Vending Forum!
6 comments:
Kyle, how about calling GMW for me and seeing if you can get a discounted price from $95 per machine. If I can get them at $85 that will save me a lot on my next 40 machines!
Rob
Hi Rob,
Congratulations! Glad to hear that you got your loan! It sounds like you have your finances figured out...now you just have to get out there and place machines!
By the way, when are you going to service/collect money from the machines that you have already placed? I am eager to know how your locations are doing!
Take care,
Ryan
A locator called this morning with 3 locations! KMART, ALBERSTONS, and an auto center. We will see. What do you guys think of these locations?
I want to check them Ryan but I'm hesitant, soon, soon!
Rob
Ok, Albertson's didn't go through. KMART and the Auto place did. The auto place isn't wonderful but who knows, it may make money.
I CHECKED A MACHINE TODAY AT A CAFE, $35.50. It was there for One month and 9 days.
Rob
Rob,
You can get the double heads for that ($85)..I am pretty sure. Thay cost like 20 dollars less than a 3 head.
I would..but the price will probably go up! At flea markets, I always go up on the price. Just tell him about your blog, how many people see there free "Advertisement" and buy from them!
Kyle G.
Post a Comment