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Vending Mastery | Passive Income | Entrepreneurship

Vending Business | Passive Income | Entrepreneurship

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Vending Mastery Podcast 011

 

I GIVE YOU A BEHIND THE SCENES LOOK AT MY VENDING BUSINESS. I INVESTED 32K TO LAUNCH A HEALTHY VENDING BUSINESS IN DALLAS. I’M YOUR TEST PILOT...AND I EQUIP YOU TO LAUNCH YOUR OWN VENDING BUSINESS SO YOU TOO CAN HAVE A RECURRING, PASSIVE REVENUE STREAM. IN THIS EPISODE...

    1. TWO OPTIONS FOR VENDING
    2. Last Episode - “Another location...but I said no! ALSO: How I got a meeting with Sewell BMW (Gift Baskets)
    3. Cheesy joke of the day: Did you hear the one about the guy who invented the knock-knock joke? He won the “no-bell” prize.

 

  • Quote

 

      1. Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent. The slogan Press On! has solved and always will solve the problems of the human race. - Calvin Coolidge

 

  • Update on the biz

 

    1. First location is failing…
    2. Didn’t get Sewell BMW of Grapevine
    3. Interstate Batteries should be good..
    4. Cash flow- Nil
    5. Expenses- not much
  1. NEW LOCATION COMING….INTERSTATE BATTERIES
  2. GOAL - 15 machines @ $500 = $7,500
  3. In the next episode we will talk in depth about Two options you have in this business and Grow Healthy Vending
  4. CTA
    1. Online course coming!
    2. Join convo on Facebook
    3. Check out Youtube videos
    4. Rate and review on iTunes
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Vending Mastery Podcast # 10!

 

I GIVE YOU A BEHIND THE SCENES LOOK AT MY VENDING BUSINESS. I INVESTED 32K TO LAUNCH A HEALTHY VENDING BUSINESS IN DALLAS. I’M YOUR TEST PILOT...AND I EQUIP YOU TO LAUNCH YOUR OWN VENDING BUSINESS SO YOU TOO CAN HAVE A RECURRING, PASSIVE REVENUE STREAM. IN THIS EPISODE...

 

 

    1. Cheesy joke of the day: Why did the Scarcrow win an award? Because he was outstanding in his field!

 

  • Quote

 

      1. “Bet bigger than you ever dreamed. Honor your word. And never give up on yourself.” - Thom Shae
      2. Thom’s website http://adamantinealliance.com/

 

  • Update on the biz

 

    1. First location is failing…
    2. Entrepreneurship means failing forward!
    3. Great book by John Maxwell
    4. A word about locations
    5. Cash flow
    6. Expenses
    7.  
  1. NEW LOCATION COMING….WINDOW MANUFACTURER
  2. GOAL - 15 machines @ $500 = $7,500
  3. In the next episode we will talk about how I’m securing my own locations and talking with the biggest BMW dealership in the US and one of the biggest DoubleTree hotels in Texas!
  4. CTA
    1. Rate and Review on itunes
    2. Send a cuban cigar like Corey did...
    3. Join the conversation on Twitter @vendingmastery with questions or quotes!
    4. Share with at least one friend who fits the mold…
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The training I received in Utah proved invaluable. Listen now to find out why. 

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There's a big learning curve when you get into this business! Check out what happened when I placed my machine at the location...

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I got my first machine placed!!!! The great things is...well listen and find out : ) This passive income business is turning out to be a lot of fun.

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SHOW NOTES

How to Set Prices

 

  • Mark items up at least 100% if not 150%
  • In other words you double the cost at least
  • So if it costs $1, you sell it for $2 or $2.50
  • Your profit margin is 50%
  • Small numbers make a big difference because you’re buying in bulk
  • You are selling in bulk over time
  • Water is the exception and sells for more than double the cost
  • You can always lower the price, but it’s harder to raise it!

Where to Buy Products

 

EXAMPLE: LENNY AND LARRY'S COOKIES...

 

  • Shop on Amazon but...be careful
  • Use local distributors if they exist
  • Use National distributors to get great discounts
  • Case study: Lenny and Larry’s cookies. Local store VS National distributor.
    • $25.95 at local store
    • $24.99 on Amazon.com  $24.99 / 12 = $2.08
    • $19.95 from Muscle Foods USA $19.95 / 12 = $1.66
      • 5 boxes per machine. 3 Machines = 15 per month.
        • Amazon 15/month = 374.85
        • Muscle Foods 15/ month = 299.25
          • Year for Amazon = $4,498.20
          • Year for Muscle Foods = $3,591
            • Savings! $907.20 per year.
              • That’s with only one product with only 3 machines.
              • Imagine if you had 30 machines.
              • Amazon = $44,982 per year
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Ever wanted to know if you can make money with Vending? I rode along with an operator in Frisco TX and had my "light bulb" moment! I'm pumped about this business. Listen now to find out what happened. 

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Here's 5 Ways to get funding for your vending business. I launched my business without cash with this simple method. Listen now to learn how. 

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What's the initial investment compared to other revenue streams? Find out how much it costs to get started in this industry, and why it's attractive! Listen now.

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Choosing a Vending Machine is tricky. Here's why I chose the type of vending machine I did. This is my journey in entrepreneurship, and I'll be your test pilot. The vending business is exciting IF you get the right machines in the right market. Listen now to find out which machine I started with and why.

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