Candy to cash.
He makes $10K a month operating vending machines??
How @quinnjmiller plays the Charlie Chocolate of robotic machines game.
A 🧵
He makes $10K a month operating vending machines??
How @quinnjmiller plays the Charlie Chocolate of robotic machines game.
A 🧵
Give me the numbers baby....
Monthly run rate: $15k
Margins: 65%
Net profit: $9,750
Number of machines: 27
Total investment into biz: $50k
Time involvement weekly: 20hrs
What he could sell his biz for... $371kish maybe $400k
Monthly run rate: $15k
Margins: 65%
Net profit: $9,750
Number of machines: 27
Total investment into biz: $50k
Time involvement weekly: 20hrs
What he could sell his biz for... $371kish maybe $400k
80/20 Rule Matters: What he sells most of?
12oz coke
I buy this item for $.33 (each) & sell for $1, this is a 67% margin
12oz coke
I buy this item for $.33 (each) & sell for $1, this is a 67% margin
Where do you put the damn thing?
Low-income apartments
Hotels/ Motels
Assisted living
Low-income apartments
Hotels/ Motels
Assisted living
Highest margin item?
Duchess donut (wtf is that?)
Buy for $.42 (each), sell for $1.50 ---> 72% margin
Duchess donut (wtf is that?)
Buy for $.42 (each), sell for $1.50 ---> 72% margin
Worst margin item?
20oz soda
Buy for $1.19 (each), sell for $2 ---> 40.5% margin
20oz soda
Buy for $1.19 (each), sell for $2 ---> 40.5% margin
Why keep the low margin soda?
I want to increase my customers' AOV (avg. order value).
If I can take it from $1 to $2,
I get them in the habit of willing to spend more with me
Next time, maybe they'll buy 2 12 oz sodas instead of 1
I want to increase my customers' AOV (avg. order value).
If I can take it from $1 to $2,
I get them in the habit of willing to spend more with me
Next time, maybe they'll buy 2 12 oz sodas instead of 1
Avg cost of machines all in:
Machine: 1500
Cc reader: 250 (if you buy 5 or more)
Move: 100
Inventory: 250
Total: $2100
So u get 50% margin biz off a $2k investment
Machine: 1500
Cc reader: 250 (if you buy 5 or more)
Move: 100
Inventory: 250
Total: $2100
So u get 50% margin biz off a $2k investment
My favorite machine and the one any new vendor should start with.
Easy to manage & not a lot of SKUs.
A royal stack drink machine.
Some machines are $3k and some as low as $500
Easy to manage & not a lot of SKUs.
A royal stack drink machine.
Some machines are $3k and some as low as $500
Machines that do most sales
Apartment building X - first month it did $3,300 in sales between 2 machines
Apartment building X - first month it did $3,300 in sales between 2 machines
Best investment to date:
A motel
Machine breakdown
Machine pp (300) + cc reader (250) + move (100) + parts / upgrades (230) = 880
In the summer this machine does:
1000+ a month
Total COC = under 2 months!
A motel
Machine breakdown
Machine pp (300) + cc reader (250) + move (100) + parts / upgrades (230) = 880
In the summer this machine does:
1000+ a month
Total COC = under 2 months!
Total investment into those machines?
Drink machine (1,700) + cc reader ($250) + move ($150) = 2100
Snack machine (1500) + cc reader ($250) + move ($150) = 1900
Total = 4k
COC = little over 2 months
Drink machine (1,700) + cc reader ($250) + move ($150) = 2100
Snack machine (1500) + cc reader ($250) + move ($150) = 1900
Total = 4k
COC = little over 2 months
For you nerds who want the data:
Placement -
- location needs to have a centralized access point (apartment building with one entrance & elevators, ideally).
More homies more sales.
You place your machine right next to the elevators.
Placement -
- location needs to have a centralized access point (apartment building with one entrance & elevators, ideally).
More homies more sales.
You place your machine right next to the elevators.
Visibility
For context, because I have credit card readers on my machines, i am able to see every sale on a real-time basis on my comp
This allows me to be proactive (if no sales, machine is down), & make sure there is always product in the machines
For context, because I have credit card readers on my machines, i am able to see every sale on a real-time basis on my comp
This allows me to be proactive (if no sales, machine is down), & make sure there is always product in the machines
Weekly time commitment
7 hours pre-packing
10 hrs filling
3 hrs computer work
Monday, Tuesday, Friday I am making cold calls & taking meetings
Also, any adjustments/repairs (not much repair)
7 hours pre-packing
10 hrs filling
3 hrs computer work
Monday, Tuesday, Friday I am making cold calls & taking meetings
Also, any adjustments/repairs (not much repair)
Lemme slide my machine in the process (wink)
Pick niche
Vet location
Talk to low man on the totem pole & extract info
Pitch decision maker
Schedule in-person with the decision-maker
Send follow-up, very visual presentation
Close deal
Pick niche
Vet location
Talk to low man on the totem pole & extract info
Pitch decision maker
Schedule in-person with the decision-maker
Send follow-up, very visual presentation
Close deal
If they f*ck you off to the laundry room, you only get sales from people once a week…. (no bueno)
TLDR:
- location, location, location
- $2-4k to start
- COC return in 2-4 months
- 40-65% margins
Boring wins again.
TLDR:
- location, location, location
- $2-4k to start
- COC return in 2-4 months
- 40-65% margins
Boring wins again.
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