How a 31-year-old man went from earning 12,000 naira per hour to 223.5 million naira per year, working 4 hours a week

• Marcus Gram said he quit his job and started a business that made him rich every year
• The 31-year-old said he earns around N223 million every year from his vending business.
• He said he uses several methods to promote his vending machine business and recommends strategies

Marcus Gram, 31, said he had a flourishing life Company functioning vending machine across the United States.

But it was not always so. Gram said he lived with his mother in Rochester, New York, where he earned $17 as a manager.

how it started

He said his goal was to save enough money to buy a rental property that could generate passive income.

But one day he had a brilliant idea – a new side business idea when his friend saw a woman withdrawing money from an ATM, he said. CNBC.

He thought about the profitability of the business with little investment.

In 2018, he moved to another city and bought two new vending machines.

He made $5,000 in the first year, but he persevered and now owns 21 vending machines in Baltimore, Philadelphia, Detroit and Washington and is on track to make around $500,000 in sales by the end of 2022.

Gram describes his lessons along the journey.

$5,000 start-up capital

According to Gram, he saved about $10,000 on his 9-to-5 job, but the cost of his new business was about $4,000, which he used to pay for a snack vending machine, a drink vending machine, credit card readers, beverages and delivery charges.

Due to inflation, things are a bit pricey, so the 31-year-old recommends saving between N$4,500 and N5,000. He says the machines can cost between $1,000 and $1,000 depending on their form.

Gram says card readers aren’t required but can increase sales by around 25%.

Reputable machine sellers

He named some reliable suppliers with good products from manufacturers. He says to watch the Facebook market for good machines.

Find a location first

The contractor says location is very important. He says potential investors must first have a good location that could boost sales.

He recommends high-traffic areas like malls, places with good foot traffic, student residences and campuses, and areas with lots of warehouses and lots of employees.

Branding and customer service are key

He said there’s a lot of branding and customer service involved in running a vending machine business. He said he spent most of his time shopping online for food and drink to replenish.

Gram says:

“What sets me apart from my competitors is my quick response time. I do my best to accommodate customers – both the places that house my machines and the people who buy items from them.

He advised future entrepreneurs to invest in branding, saying he invested $30 in a polo shirt and a business card. He also paid for a website and said people should have a business proposition at the ready for any opportunity.

Study customer needs.

He said some of his top-selling products are Coca-Cola, Red Bull, Peanut and other snacks that customers buy easily.

Man who dropped out of medical school to rent shortlets says he earns N267m a month

Remind that Legit.ng reported that Chris Choi said he was about to go to dental school when he visited South Korea and saw what his friends were doing.

He wanted to build a passive income stream while going to school.

While visiting South Korea with his friends, he stayed at an Airbnb and was shocked to learn that the host was not only his age, but owned multiple Airbnbs.

Source: Legit.ng