Chris Koerner
๐ค SpeakerAppearances Over Time
Podcast Appearances
Could you do that with $500?
Absolutely.
So if we were doing another physical business, I would go to Facebook Marketplace and I would find an existing vending machine
for $300 to $400, right?
That could be a snack or a drink vending machine.
Oftentimes, the expensive part of a vending machine is the credit card reader.
It can often cost more or as much as the whole machine itself.
And then I would use $100 to stock the machine with Costco.
Costco or Sam's Club is where all of these operators buy their snacks, believe it or not.
And then I just need one business owner to give me a chance to allow me to put the vending machine in his lobby.
Let's say it's a car repair business.
I can say, hey, I'll pay you $100 a month or, hey, I'll split the revenue with you.
I'll give you 30% of the revenue.
And then once I have one, that's the hardest part.
Now you have a track record.
Now you can say, hey, Bob's Auto Repair makes $700 a month passively because he let me put this vending machine there.
This is a business that can be passive if you have an employee to restock it.
That is the active part of the business is the restocking and the selling of new locations.
But if you have an ATM, then that becomes even easier because you can outsource all of the restocking to a cash management company.
How much money could one person hope to make from a vending machine business?