Just got a call earlier today about one of the locations for my machines closing down. Unfortunately, the previous tenant went out of business and was unable to make rent payments to the commercial owner. The location was slow but steady due to a lack of other candy options and the fact that most customer stayed for over an hour (it was a billiards hall). What sucks about this is that I can’t just go and grab the machines – I need some form of documentation that I own them. I am renting them from someone who in turn bought them used, so there is no original receipt or anything – I only have the keys to prove that I own it. I am hoping to negotiate something with the landlord over the next week to prove the machines are mine and pick them up, but I may end up out of luck. As I said, they are machines I rent, so I will be liable for their loss to the tune of about 300 dollars up front. Keep in mind this is a 1200 dollar a month business with only about 500-600 in profit after rent, candy costs, commission to site owners, gas, and various random costs. Ah well, such is business! I will need to find a way to better document my ownership of the machines, or try to do a better job communicating with the store owners.
Anyone have start-up stories of incredibly annoying and spontaneous costs that come out of nowhere to hit your pocketbook/bank account? Please share, and share what you’ve learned!