Pay Phones Used To Make BANK. Here’s What’s Going To Be Extremely Lucrative
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Before social media shared with the world the possibilities of passive income streams like ATM routes or vending machines, there were “passive pioneers” with an asset that is virtually obsolete today.
A sure way to understand the future is to know the past.
While cash is still king and I don’t see ATMs going away anytime soon, there is a very similar investment vehicle that ONCE was very lucrative and is now a ghost town.
Pay phones.
Just like ATMs, pay phones were owned both privately as well as by larger corporations.
There were franchise agreements in place and technicians hired to service the routes.
Change was collected, the location took a cut and entrepreneurs for decades made a great passive income if done right.
On average, one phone booth might make $200-$500 per month depending upon the traffic of your location.
I’m not writing this to say that you should avoid ATMs. In fact I think that’s a great investment vehicle for a solid ROI.
I’m writing this because it’s important to understand businesses of the past so that you can recognize opportunities in the future.
For example, something that is becoming more and more main stream is owning electric cars.
This is not new by any means, but it’s a trend to take notice of.
How can you use the understanding of that trend to your advantage?
Can you purchase and set up charging stations in popular locations?
- Shopping centers
- Highway rest stops
- City centers
Set up for a Level 2 charger is about $3500 and can average $1200/mo or $14,400/ yr.
Your break even is at around 3mo and everything after that is gravy.
I’m not in the charging station business nor do I plan to be, but I keep my eyes open for opportunities and trends, and so should you.
If you are as obsessed with entrepreneurship as I am and want to continue to hear about trends like this, you’re in the right place 😉
