Passive Income Report :: May 2007

by Brian Lee. (Visited 2742 times) (20 comments) :: Print This Post
Posted: June 20th, 2007 under Income Reports, Passive Income.

I’m extremely pleased to report that in May, I made $1442.68 from passive income sources. That’s up $336.72, a 23% increase over March! The boost was fueled by a new wave of bulk candy vending locations and a big bump in Genius Types income.

I’m closer than ever to my goal of time freedom, which is when my passive income will be greater than my expenses.

May Passive Income

Some of my sources are more passive than others (as explained in How Passive is Your Income), but each source has a strong residual component.

Here are the the income streams in order of most income earned:

$1139.66 - Bulk Candy Vending
$245.41 - Blogging
$ 57.61 - Network Marketing

(Read Five Ways to Create Passive Income With Little or No Money for more on these sources.)

Bulk Candy Vending - $1139.66

I consider bulk candy vending to be a passive income source because I only work it two days a month.

I’m finally reaping the benefits of landing about 10 new locations two months ago. I’m down to around 7 machines in my kitchen, and I’m anxious to get them out.

(Read about the mechanics of my business in How to Start a Bulk Candy Vending Business for Passive Income.)

I didn’t add any locations in May, in fact, I actually lost 2 bringing my total to 42 locations. One of the lost locations was pretty good, but the other was awful; so they canceled each other out.

The decrease actually helped my averages. The average profit per location was $27.13. My numbers reflect a 72% profit margin when accounting for the cost of candy.

Blogging - $245.41

Blogging income is on the move! Read the May Blog Income Report for complete breakdown.

Network Marketing - $57.61

I made enough from my network marketing company to pay for the products I buy. Basically, I got all my consumable Sam’s Club-type products for free. Watch out for this number to jump in the coming months as I focus on this stream of income.

(Read more about my network marketing company here.)

Conclusion

If I can sustain this level of growth, I’ll be sitting pretty before I know it. Thanks for all of your support!

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Genius Comments

Comment from Jennifer
Time: June 20, 2007, 10:43 am

Very inspiring. Good job!

Comment from Brian Lee
Time: June 20, 2007, 10:44 am

Thanks, Jennifer!

Comment from HalOtis
Time: June 20, 2007, 1:27 pm

Impressive numbers.

That $35 per machine average sure adds up with 42 machines.

I’m hoping to get my first passive income stream going in July.

Comment from Rich
Time: June 20, 2007, 3:59 pm

Brian,

I’ve been reading your blog for several days. Time Freedom is probably worth to me more than a million bucks in the bank. Keep the articles coming! I am curious, how much does your gas cost off set your gross income from the vending business? I assume these are gross totals? Is the net result from the vending greatly affected by gas costs?

Comment from Rich
Time: June 20, 2007, 4:00 pm

Brian,

I am curious, how much does your gas cost off set your gross income from the vending business? I assume these are gross totals? Is the net result from the vending greatly affected by gas costs?

Comment from KittyKat07
Time: June 20, 2007, 4:10 pm

That’s great! 42 locations averaging $34.35 per machine is better than most people I have heard from! I’m ready to start on a route myself, but I know the hardest part is securing locations. Do you see that breakrooms profit more or usually high traffic front areas?

Comment from Brian Lee
Time: June 20, 2007, 5:24 pm

Ouch, I just realized that I made a mistake. My per location average was actually $27.13. I originally got $35/location using the total passive income number instead of just bulk candy vending.

$27 is still a nice number. I was budgeting $25/location when I started and it looks like I hit it.

Comment from Brian Lee
Time: June 20, 2007, 5:34 pm

Good question, Rich. The numbers I post are gross numbers, but the bottom line isn’t much different. Since I only drive the route about two days a month, my gas bill is around $50.

Comment from Ed
Time: June 20, 2007, 5:35 pm

Brian,

Your progress has been an inspiration to me and wanna-be entrepreneurs. I hope soon you make the jump into Real Estate and start making more money!!

PS: Love the Blog articles!

Comment from Brian Lee
Time: June 20, 2007, 5:39 pm

Thanks Ed! In fact, I already own 1 rental property. Since it’s just breaking even, I don’t report it on cashflow reports.

You’re right on the money though! My goal is to roll profits into real estate.

Comment from karenlim
Time: June 21, 2007, 8:33 am

Interesting and thanks about sharing your data

brian, what do you earn from blogging? adsense?

Comment from Brian Lee
Time: June 21, 2007, 11:07 am

Thanks for your interest karenlim. Read my Blog Income Report for full blogging details.

Comment from Jan Hindrik
Time: June 22, 2007, 3:23 am

I’m not sure if i should post this comment here but i think it’s useful. Here are some other passive income ideas:

- Car wash
- Windmill to generate electric power and sell it bank to the regular companys.
- Self service gas station.
- Selling digital products with autoresponders.
- Lockers at for example train stations.
- Picture booth.
- Mobile phone recharging station.
- coin operated laundry.
- Shoe shining machines.
- Kiddy ride.
- Weight scale

Comment from Brian Lee
Time: June 22, 2007, 12:39 pm

Jan, those are great ideas. Thank you very much!

Comment from Rich
Time: June 25, 2007, 11:36 am

Brian,

From reading your blog I know your into candy vending machines. Have you ever studied the viability of Coin Op (or smart card) laundry, or rather self serve laundries? It seems this is probably a logical next step from drink and candy vending machines. I am noticing pleanty of existing locations in my area available at favorable terms.

Comment from Brian Lee
Time: June 25, 2007, 5:51 pm

I like the way you think, Rich. I’ve had that in the back of my mind buy haven’t put in the research yet. I’d love to hear anything that you know about it.

Comment from Tony
Time: July 7, 2007, 6:56 am

Hi there
I find myself checking this website more frequently for any updates you post up…you got me hooked! lol

Was just wondering the reasons why you lost the two sites last month??
I own and operate a round myself since December last year and was wondering what things i might face in future?
I’ve got myself up to 68 machines sited and hoping to get another 6-7 out in the next couple of weeks…better than sitting in my garage thats for sure!!
Then my plan is to site another 25 per month until the year end…and then evaluate my plan from there.
Gonna be a lot of work and effort to get there as i currently have a full time job as well, but i know the end result will be worth it when i can resign from that job and be my OWN boss!!

Comment from Brian Lee
Time: July 7, 2007, 11:54 am

One site told me that their corporate office had signed a deal with a national vendor, the other went out of business.

Thanks for reading!

Comment from Jan Hindrik
Time: July 11, 2007, 3:08 am

Here are some other passive income sources:

- Stocks or bonds
- Nail painting machine.
- Coin operated games: dartboard/Pool table(s) /Kiddy ride /Pinball / Touch screen games / air hocky.
- Coin operated breathalyzer.
- Create a software program and ask a monthly fee.
- Golf ball washer and coin operated golf ball dispenser.

Pingback from Make Vending as Passive as Possible | Genius Types
Time: September 4, 2007, 9:33 pm

[…] out My Passive Income Report for other streams. Those are what I have now, and I have more in the […]

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