2-Day Workweek Earns $700K – Vending Machine Business

From UpFlip.

Adam Hill started his vending business, Hill Vending, because he wanted to break away from his 9-to-5. Eight years later, he has 100 machines that make a combined $50,000 or more in gross sales each month. He shares how he built a profitable vending business in this interview.

Learn step-by-step how to start your own vending business with Adam: https://hubs.li/Q01L50w40

One of the great things about the vending business is its low barrier to entry. Adam didn’t have any experience before he started, and you don’t need a ton of money to get into the business, either.

In Adam’s case, he had the financial resources to buy an entire route, but there are other, lower-cost options for entrepreneurs with smaller budgets. He’ll talk through the startup costs for a new vending business, along with his strategies for evaluating and acquiring vending locations with high revenue potential.

When Adam started out, he was a solo entrepreneur. He’s added people to his team as his business grew, allowing him to get off the truck and spend more time on sales and managing his company. We’ll find out when he knew it was time to grow his team, as well as the systems he used as a solo operator to manage his workflow and ensure all of his machines were serviced efficiently.

Getting the right machines is the first step to starting a successful vending business, and Adam will explain the types and brands of machines he prefers and why. He’ll also talk about where he gets the snacks and drinks he stocks in them and how he chooses the right items to ensure consistent sales. If you’ve ever wondered how to start a vending business, or how much you can make doing it, you’ll get the answers to your questions in this video!

https://hubs.li/Q01L50w40 – Course by Adam Hill
https://www.upflip.com/blog/how-to-start-a-vending-machine-business – More advice on how to start a vending business on the UpFlip blog

00:00 – START
00:42 – Introduction to Adam
02:01 – Warehouse tour
02:53 – Revenue and profit margins
03:21 – Building a team
04:26 – Common mistakes
05:41 – Machines and locations
06:19 – Growth strategies for small vending businesses
07:46 – Vending bootcamp
08:55 – Supplies and inventory
09:58 – Early lessons learned
10:29 – Machine repair and maintenance
11:05 – Buying routes
12:02 – Controlling costs
12:39 – Where to find routes
13:50 – Choosing locations
14:45 – Best machines
16:17 – Identifying viable locations
18:20 – Fan Blitz
20:33 – Securing accounts
21:58 – Financing options
23:23 – Pricing strategy
25:08 – Sales kit overview
25:36 – Machine brands
26:13 – What customers want
27:44 – Credit card readers
28:47 – Servicing machines
29:37 – Choosing inventory to stock
30:32 – Top advice for new vending owners
31:12 – Outro

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