At just 31 years old, Marcus Gram has the option to retire after his vending machine business became very lucrative over the last several years.
As previously reported by AfroTech, Gram’s vending machine business went from making $4,000 in its first year to over $300,000 in 2021. And after a recent deal, it is currently projected to make over half a million in 2022. Though he can retire today if he wants, he’s not sure he’s ready to stop working just yet.
“I’m not actually sure if I will retire,” Gram shared exclusively with Blavity. “I just love being in the position to do so.”
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Not long ago Gram was a music producer making only $30,000 a year when he decided to move back home and save money for his entrepreneurial dreams. He wasn’t sure what industry he’d tap into, but he was on a mission for financial freedom to change his family’s life.
After saving $10,000 in nine months, Gram moved to Philadelphia to start a new life. One day he saw a woman put cash in a vending machine which sparked his interest in learning more about the vending industry.
In 2018, Gram launched Joyner Vending as a side hustle while making $30,000 a year at his daytime job. Now, four years later, he owns 21 vending machines spread across Baltimore, Philadelphia, Washington D.C., and Detroit.
“People love vending machines because they’re convenient,” Gram told CNBC Make It. “Not many people know that anyone can own them. There are low startup costs and potential for high return.”
Three things Gram says he loves about owning vending machines are the low startup costs but high potential for a return on investment, he can to use his the machines as his own personal ATMs, and his ability to make his own schedule.
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Gram is also sharing what he’s learned with other entrepreneurs to help them reach their goals. Last month, he started offering free and paid webinars to help others jumpstart their own vending machine business.
“I started my webinars last August. I do the free webinars because I know my audience,” Gram tells Blavity. “I know while many are interested, they don’t have money to start at the moment. The training can spark their mind. Some are able to walk away feeling completely ready to start [a vending machine business]. I do offer a paid course for those who want to get more in-depth information [too].”
What’s next for this 31-year-old entrepreneur? Gram says he’s interested in investing in real estate and spreading his knowledge to others through public speaking.
