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💡Vending Machines: The King of Boring Businesses

💡Vending Machines: The King of Boring Businesses

No Staff, No Hassle, Just Cash Money

Odd night
October 05, 2023

Greetings, Loyal Odd Nighters!

Behind the neon lights and bustling streets, there are kingpins of business, raking in profits without the flash.

This evening, we're revealing an empire that's been right under our noses.

Dive into the underworld with us.

Here’s what we got for you today:

💵 Vending machine monarchy
📸 How to make meetings more special
🎥 Why your content should always include subtitles

Today’s Drop 💼

🍬Vending Machine Monarchy

🍿 The Big Picture:

We live in a world of instant gratification. A few coins or a swift card tap, and voilà! Your favourite snack or drink is right there, ready for the taking.

This is the charm of vending machines. No need for staff, elaborate storefronts, or waiting lines. Simply a machine, a prime spot, and products that call out to people.

🛠 The Idea:

Let’s break it down.

Purchase a pre-owned or refurbished vending machine. Close in on a prime location - think barbershops, busy office buildings, hostels.

Unlocking Retail Space for Your Vending Machine: A Deep Dive

Securing prime real estate for your vending machine can seem daunting, but it's all about understanding the mutual value. Here are three proven strategies to make business owners your vending allies:

1. The Straightforward Rent Approach:

A simple and effective way. Just offer them a monthly or yearly fee for the space your machine occupies. It's uncomplicated, straightforward, and guarantees them a consistent income.

2. The Win-Win Commission Model:

By offering 15-20% percent of your sales, you align your interests with the property owner. They become more invested in your success. The more you earn, the more they make.

3. The Value Proposition Pitch:

If you don’t wanna pay them anything and you've got a silver tongue, this is where you shine. Frame the vending machine as a value-add for their establishment. Here’s the pitch: having a machine on-site can increase overall customer dwell time and increase foot fall, potentially boosting their primary business sales.

A Bonus Tip: If you're going for the commission model or the value proposition pitch, come with some data. Maybe share insights on average sales of vending machines in similar locations.

Remember, every business owner is looking to maximize their revenue. If you can demonstrate that your vending machine is not just a passive box, but a dynamic addition that enhances their space and customer experience, you're in!

Start with the universally loved - snacks and drinks. It's a tried-and-true sector with predictable demands.

But once you've got that down, the world's your vending oyster. Health bars? Electronics? The scope for innovation is endless, but the snack and drink market is the golden ticket to get you started.

🔥 Is the Market Hot?

Ever heard about the 5.5 million vending wonders in Japan? It's not just about food and drinks there; they've got everything from fresh eggs to umbrellas

Let’s not even start on Canteen, the heavyweights in the vending world, with a staggering $288M annual revenue. If that doesn’t spell potential, we don’t know what does.

The point? Vending machines are more than just metal boxes; they're business powerhouses.

🍞 Revenue Potential:

Here’s the numbers. Grab a second hand machine for less than $600 or refurbished machine for just over $1000. Fill it with drinks bought for 33 cents, sold at a dollar each. It’s simple math but substantial profits.

Consider Quinn Miller’s tale - from software sales to a vending machine empire, banking a cool monthly profit of well over $10k.

🎯 Conclusion:

In our speed-driven world, convenience is prime. Vending machines are the epitome of this, offering quick fixes for everyday cravings. With small setup costs and a high potential ROI, this venture is ripe for the picking.

Dive into the proven snacks and drinks market, and who knows where this journey could take you? Ready to change the game one coin at a time?

Tweet of the Day

Every interaction is an opportunity; make it memorable, make it count.

We met with a Very Powerful Person once.
He was giving us (free) advice to help us grow.
At the end, he made a big to-do:
"Let's take a group photo of this moment!"
It was so smart.
We left feeling this meeting was special for him, too.
I never forgot that.
— Michael Girdley (@girdley)
12:15 AM • Oct 1, 2023

Midnight Meme 😂

🎥 Video of the Day

Odd Notes:

Work is underway on 6G networks
61% of Gen Z adults use subtitles when watching TV and movies
Canva releases magic studio - “the world’s most comprehensive AI-design platform”.

Await our next 'restock' as we bring more family insights on the next odd night

Have a business idea that we could feature? Hit reply and share the 411. If we ride with your plan, you'll see your name in the credits. That a deal?

Disclaimer: This newsletter is educational, not financial advice. Exercise caution and conduct personal research before making investment decisions.