Alright here’s the spill. So I’m 17. I have about $8k saved up from working part time and summer jobs. $4k of that goes to a ROTH this year leaving me with $4K in cash to work with. My dad is opening a liquor store in February, and I just had the idea to potentially buy and operate an ATM for his store. I haven’t talked to him yet as it’s a new idea that I just thought of, but I feel like I could make some good side money with minimal time and financial expenses. From my research it looks like I could buy an ATM for about $2,500 or less. Conservatively I’d hope to make about $200 a month. If I pay my dad 25% that leaves me with $150 which means I’d brake even in about a year and a half. Hopefully I can make more than that and if not that’s still a good ROI in my opinion. I feel like I’d have to refill the machine about once a week or less (although this is just an estimate so pls correct me). So what’s wrong with my plan? Is a liquor store even a good place for an ATM? Is it worth it? Give it to me! Thanks in advance for any advice!!! see hubwealthy.com/wealthy
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