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316. How to Start and Grow a Vending Machine Business with Little to No Money with Mike Hoffman
Manage episode 423188977 series 111624
Content provided by https://www.millionaireuniversity.com and Tara Williams. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by https://www.millionaireuniversity.com and Tara Williams or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Building a lucrative income stream through vending machines is the discussion for today's podcast. Mike Hoffman from mrpassive.com shares how he transitioned from a career in sports science and real estate to managing 25 vending machines that yield significant monthly profits. The conversation covers the initial investment, operational strategies, and the high profitability of vending machines compared to stocks and real estate. Mike also emphasizes the growing potential of the vending industry, especially with technology advancements and market saturation ripe for disruption. Listeners can learn about the ease of starting and scaling a vending machine business, hiring strategies, and the long-term financial benefits and equity-building potential of this venture.
What we discuss with Mike:
+ Meet Mike Hoffman: From Sports to Vending Machines
+ The Journey to Vending Machine Success
+ Why Vending Machines Over Real Estate?
+ Earning Potential and Location Strategy
+ Getting Started with Vending Machines
+ Stocking and Managing Your Vending Machines
+ Hiring and Scaling Your Vending Business
+ The Importance of Technology in Vending
+ Disrupting the Vending Industry
+ Buying and Valuing Vending Routes
+ Expanding Vending Operations
+ Vending in Hotels and Remote Management
+ Time Commitment and Profitability
+ Challenges and Liabilities in Vending
+ Future of the Vending Industry
+ Final Thoughts and Advice
Thank you, Mike!
A BIG thank you to Mike for sponsoring today's episode and for sharing so much value! To learn more about starting your own vending machine business, go to Mr.Passive.com.
And to connect with Mike check him out on Instagram and Youtube.
To get exclusive offers mentioned in this episode and to support the show, visit millionaireuniversity.com/sponsors.
Sign up for our FREE Millionaire University Business Course - Understand the 7 Phases of A business, so you know where you are now and where you need to go next! Go to https://www.millionaireuniversity.com/training.
Wanna get social? Click on any of the links below to connect with us.
Instagram, Twitter, Facebook, Youtube, TikTok and LinkedIn. We'd love to hear from you!
And if you want us to answer your business questions on an upcoming episode, drop us a line at support@millioinaireuniversity.com.
340 episodes
316. How to Start and Grow a Vending Machine Business with Little to No Money with Mike Hoffman
8 Minute Millionaire: Learn the Secrets of Millionaire Entrepreneurs
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Manage episode 423188977 series 111624
Content provided by https://www.millionaireuniversity.com and Tara Williams. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by https://www.millionaireuniversity.com and Tara Williams or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
Building a lucrative income stream through vending machines is the discussion for today's podcast. Mike Hoffman from mrpassive.com shares how he transitioned from a career in sports science and real estate to managing 25 vending machines that yield significant monthly profits. The conversation covers the initial investment, operational strategies, and the high profitability of vending machines compared to stocks and real estate. Mike also emphasizes the growing potential of the vending industry, especially with technology advancements and market saturation ripe for disruption. Listeners can learn about the ease of starting and scaling a vending machine business, hiring strategies, and the long-term financial benefits and equity-building potential of this venture.
What we discuss with Mike:
+ Meet Mike Hoffman: From Sports to Vending Machines
+ The Journey to Vending Machine Success
+ Why Vending Machines Over Real Estate?
+ Earning Potential and Location Strategy
+ Getting Started with Vending Machines
+ Stocking and Managing Your Vending Machines
+ Hiring and Scaling Your Vending Business
+ The Importance of Technology in Vending
+ Disrupting the Vending Industry
+ Buying and Valuing Vending Routes
+ Expanding Vending Operations
+ Vending in Hotels and Remote Management
+ Time Commitment and Profitability
+ Challenges and Liabilities in Vending
+ Future of the Vending Industry
+ Final Thoughts and Advice
Thank you, Mike!
A BIG thank you to Mike for sponsoring today's episode and for sharing so much value! To learn more about starting your own vending machine business, go to Mr.Passive.com.
And to connect with Mike check him out on Instagram and Youtube.
To get exclusive offers mentioned in this episode and to support the show, visit millionaireuniversity.com/sponsors.
Sign up for our FREE Millionaire University Business Course - Understand the 7 Phases of A business, so you know where you are now and where you need to go next! Go to https://www.millionaireuniversity.com/training.
Wanna get social? Click on any of the links below to connect with us.
Instagram, Twitter, Facebook, Youtube, TikTok and LinkedIn. We'd love to hear from you!
And if you want us to answer your business questions on an upcoming episode, drop us a line at support@millioinaireuniversity.com.
340 episodes
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Similar to 8 Minute Millionaire: Learn the Secrets of Millionaire Entrepreneurs
The traditional enterprise go-to-market motion is undergoing a transformational shift. B2B buyers are more sophisticated than ever, and operational efficiency is a key focus for every organization. One key function possesses a unique opportunity to shape the future of revenue generation: enablement. On this podcast, we’re bringing you the secrets, strategies, and tactics that successful enablement leaders are using to drive meaningful impact. The Enablement Edge is the go-to resource for sal ...
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We believe that ANYONE can start and grow a successful business, so we created Millionaire University to help you achieve just that. At Millionaire University, we follow a proven process that has been used to create successful businesses time and time again. Do you want to start a business or currently have a business you want to grow? Do you have a skill you want to turn into a business? Do you want to learn from other successful business owners and connect to like-minded entrepreneurs? Do ...
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Join host and Harvard Business School Online Creative Director Chris Linnane as he sits down with HBS faculty to discuss business education in a way that’s both entertaining and insightful. The Parlor Room is your key to breaking down academic theory without sacrificing depth—all while gaining practical takeaways for navigating the business world.
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The fun email marketing podcast. Sell more of your online courses, grow your membership and bring in more coaching clients with email marketing that doesn't stink. Sound good? Then join your fellow Email Marketing Heroes for your weekly dose of fun, practical, yet brutally honest email marketing advice. You can listen in to a piping hot, fresh episode every 'Email Marketing Wednesday' or if you prefer learning with your eyes instead of your ears, we turn each episode into a full written blog ...
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Custom Manufacturing Industry podcast is an entrepreneurship and motivational podcast on all platforms, hosted by Aaron Clippinger. Being CEO of multiple companies including the signage industry and the software industry, Aaron has over 20 years of consulting and business management. His software has grown internationally and with over a billion dollars annually going through the software. Using his Accounting degree, Aaron will be talking about his organizational ways to get things done. Hi ...
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