Joe Pinsker

speaker

1,247 appearances 30 recordings 1 series first heard Oct 2022 last heard Jan 2025

Joe Pinsker’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Americans Look to Vending Machines for Passive Income · 12 Mar 2024 podcast

But like any business, it can kind of succeed or fail based on how you operate it. voice-verified

And there are really two reasons why people are drawn to this in particular. voice-verified

One of them is that vending machines have a relatively low startup cost. voice-verified

So unlike the idea of buying a whole business like a laundromat or something, you can get going with vending machines for just a couple thousand dollars. voice-verified

The other thing is just that this is a pretty intuitive business model to people. voice-verified

Most people have come across a vending machine in their life, but just the basic premise of you put this box somewhere, you stick some food or drinks in it, and you have people sell it, it just sort of seems to make sense. voice-verified

This is something that people in the vending world remark on often, how there's sort of bottomless demand for these things. voice-verified

Sort of like somebody who gives haircuts for a living. voice-verified

Lots of machines actually do really well, particularly at workplaces where people are sort of a captive audience if they're hungry and want something to eat. voice-verified

Yeah, the most commonplace sort of everyday person would go and get one is something like Facebook Marketplace. voice-verified

You just sort of go online and buy one. voice-verified

You can get a range of different qualities there. voice-verified

Some of them may be less reliable than others, but that's where a lot of people get started. voice-verified

He's definitely open about how much work it takes and how many things can go wrong if you try to set up your own vending machine business. voice-verified

There are lots of success stories, but there are also plenty of people who really struggle with it. voice-verified

And a lot of it has to do with the location that you end up placing your machine in. voice-verified

If it doesn't have the right sort of foot traffic, you could be in trouble. voice-verified

I talked with a couple from Alabama that put a machine in a gym, hoping that it would bring them some extra money each month and help them pay the bills. voice-verified

But lately it's only really been selling about $30 per week, which is well under what they were expecting it to. voice-verified

So some people do have a lot of trouble with this once they get started. voice-verified

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