The Koerner Office - Business Ideas and Deep Dives with Chris Koerner - How to Make $2k+/Day With Vending Machines⏐Ep. #262

Episode Date: January 2, 2026

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I'm doing in the range of like 1500 at 2000 and sales per day. Nice. It's definitely training up higher towards like 2000. I was looking for things where I didn't have to be there all the time. Low cost of capital to enter and then had some solid cash flow. That's kind of where I stumbled in a vending. What I saw was like, hey, I never had to go there for the sale. And then so what I started doing was making cold calls.

I landed a location that did 1500 bucks in the first month. I got, okay, we have something here and then left corporate and did that full time. Wow. Left corporate after the second machine? Yeah. Three dispensary locations, 50 grand a year? Yeah. Wow. Yeah, that's good.

The easiest way to run this business is literally just have a drink machine where you click the button. So it holds like eight different products and just put a bunch of those out there. The drink machines are the easiest. Yeah, yeah, for sure. If you could go back and like perfectly script starting this business from scratch, what would you have changed to make things really clean, really profitable, really efficient? So I'm Quinn Miller. I own and operate a vending machine business.

That's how I started. It's kind of expanded a little bit now. So it's transformed into I do traditional snack and drink. We do like smart coolers. We do like market concepts now. I also have a ATM business as well. I got into the business because I am based in California and I love real estate. But the problem out here is that it's heavy appreciation like cash flow.

And yeah, most people were like, oh, well, why is that bad? What happened was is I bought some real estate out here with my buddy. I bought a property for quite a bit. We renovated it. And then the cash flow is so, so light. It was about like $700 a month. It split between three parties. And when we're fresh out of college, and this is not saying, it might sound crazy to a lot of people,

but the house was like $550,000, right? So it wasn't cheap. Yeah. And that's in San Diego. Yeah. Yeah. And so we did the renovation. And the cash flow is really poor.

But it reappraged for quite a bit. It reappraised for, I think, like, 800. Now, wow. Which is awesome. Yeah. But we bought it at the back end of 2018. and then I don't know, maybe a year or two later, that's what it looked like. And the goal is to buy more, right?

Not just have the money sitting there because I couldn't have all my effectively life savings sitting in this piece of property, not cash flowed at all. They didn't want to do it. And so I got out of that. And I was looking for alternative, not going to say asset classes, but some things where I didn't have to be there all the time, low cost of capital to enter and then had some solid cash flow. That's kind of where I stumbled in a vending.

and I saw other people doing it online that didn't necessarily have the same background as me from a sales perspective. And so what I did is I put it out my buddy's mechanic shop, a machine that I bought off Craigslist, and it didn't do good at all. But what I realized was I didn't have to ever go there to make a sale. So that's good and bad. If you never have to go, then the machine's not selling. So I never had to go there. So right, if it's doing like 150 bucks in sales and in the machine hold 600 drinks, right? Go there once every six months.

or once every three months, whatever the number is. So you at least fell in love with that aspect of it, but you realize finding locations are going to be harder than you thought. Finding good locations would be harder than you. I didn't think it would be harder than I thought because I never even prospected. What I saw was like, hey, I never had to go there for the sale.

And then so what I started doing was making cold calls. And then I landed a location that did pretty well. I think it did maybe $1,500 in the first month. I was like, okay, now we can, now we have something here. And what type of location was that? Yeah, it was an apartment building. Okay. Yeah, and yeah, so I landed out.

I was like, okay, we have something here and then left corporate and did that full-time. Wow, left corporate after the second machine? Yeah. After you quit your corporate job, what was your first plan of action? Did you start hitting the phones, calling apartments or what? Yeah, just straight up cool calling all day every day. Okay. Yeah, so I stock the machines and then just prospect all day.

Was that discouraging? No, no. Well, my first software sales job, I was an SDR and we were making $200 a day. So that's, I would say that's with my one superpower. I have actually enjoy coal calling. Like I can multitask while a cold call. And that's just from the 10,000 hours, me putting in, right? I had over 200, 200,000,000 cold calls on my belt by age like 25, 26.

So we're making a lot of dials. But so it becomes second nature. I think the thing that's separated me and my growth in the business. There's a normal operator. They are going to stock machines all day and then come home and, you know, drink a beer or whatever, relax. Whereas me, it had stock machines. jeans and come back and make calls. And so that's what really helped me grow quickly.

Everything you know today, if you could go back and like perfectly script starting this business from scratch, what would you have changed to make things really clean, really profitable, really efficient? I don't know if I've changed what I'm doing. But my recommendation would be to other vendors is like what most people do is they take on any location. And so what I recommend to them is be selective. Just because somebody says yes, doesn't mean you should work with them.

Like having a ton of machines out there is not better than having less but doing more revenue. So my recommendation to new vendors is to just be selective or just for most people again, they don't have the sales side of things. So buy an existing route as a because a lot of people, they will like if you call call for six months and you don't get any deals. I think like 99% of people are just going to be like, I'm not doing this anymore. Honestly, after a week, they're going to say that. So a lot of times it's better to just buy a location.

of somebody that is already established. And then so then that way you have the momentum. Because in business, especially when you're leaving corporate, like, yeah, the hardest part is like literally just leaving corporate, but then it has to be followed by momentum. If not, you're just going to be defeated. Yeah. And the momentum makes me think like even if you could go back in time and be more picky about your locations, even if you pick a bad location, at least it's momentum and you're going to

learn from that. You know what I'm saying? So it's almost like you wouldn't change much because it's like you got to win. Even if it's a crappy location, you all a way. into your belt, which will line up a bigger wind down the line. Yeah, for sure. And that's another thing. Like, if anybody getting new into the business, I know they want the biggest accounts

right away, but the thing where I learned the most was that mechanic shop where I could fail and learn about the machines and just they had no expectation, right? So if you go get a big account, like, we're going to have a bunch of expectations and it might be overwhelming for you. Is there a correlation between a crappy location like a mechanic shop and the ease of actually closing that deal? Or is there really no correlation? Yeah, yeah, I know I know you're going with us to do bigger deals.

Yeah, for sure. The bigger you go and the like bigger business, like there's more, number one, there's more red tape. And number two, there's more competition. So if I were to go prospect in Amazon warehouse, it's not like you just go call up the warehouse manager and say, hey, you need some machines. Like you got to, I have to assume you're going to be submitting RFP and then you're going to be going up against like other like national vendors where they're playing a different game, right?

They push a lot of products. They get rebates. They have ties. with the big national distributors. And so they can probably do things that you can't do that make financially sense, that make financial sense. So yeah, no, it's not like the bigger deals you do, the harder it is. Yeah.

I don't know, some people say that in real estate like smaller deals is the same as big, but it's not the same here. Well, what if someone had the strategy of saying, listen, I know that all of these mechanic shops are only going to pay out 300 bucks a month on average, but I can close 20% of those deals as opposed to 2% of the big deals. So I know that the payback period for machine will be a lot longer, but could someone have that strategy?

Just like, I'm going to place a ton of these low performing machines because it's easy and that's just my model. Yeah, well, that's what most people do. And what I would say is, yeah, that's cool when you first start. But once you get to a certain size, it becomes a logistics game, right? So it's like, how do I get X product from warehouse to the locations? And then at the end of the day, they're a machine. So you don't need somebody there to make a sale.

but they do have problems, right? And so like when you have just like 100 machines and you got to send out a repair guy or something, like that stuff adds up versus like just concentrating on your bigger accounts, like where they actually producing real revenue and making a sizable difference. It's okay if you have a repair guy, go out there. But if this is consistently happening, then it's just going to destroy the business. Back to cold calling. If you make a thousand cold calls and what is your funnel look like?

How many do you actually talk to and how many sales could you expect to get from that? Yeah. I used to track these numbers in software sales when we had like Salesforce and all stuff. And I think that's like beneficial. It's right. It's probably beneficial if you're running like not a one man org. I guess it is. But I mean, personally, I don't really need to track those numbers. I think maybe I shouldn't, but I don't really get motivated based off like the numbers where that's what a lot of people need to see. They need to see like how well they're converting. But so for me, I don't know the exact number. But if there's a thousand potential locations and I'm able to have talked to the decision maker. I have a pretty high hit rate in regards to like actually closing those

deals. If I were to look at my pipeline, a reason why somebody would not work with me is not because of like my pitch or anything like that. It's more so, you know, it's a luxury apartment building. And they're just like, we don't have room or ownership, but I just spent $300 million on this property or whatever the number is. And they're just like, no. So I don't have the exact number. But what I can say is like closing percentage is like way higher than this business. And I would say software sales. And I think the important part is you like making cold calls. And it's kind of like finding joy in the journey, right?

Is what you're doing. And it's not a grind to you. It's just part of the process. Yeah, for sure. So you just related back to like accounting or anything like that. Like for me, like I hate it. Like I would have to close off a whole calendar like a whole day just to review this stuff. But for cold calling, it's no problem.

I could. Right after this call, like even if I'm hungry, I can make a cold call. I can not look at accounting if I'm hungry. It really just depends on the person. But yeah, and then some people say, oh, do cold emailing and stuff like that. For my experience in the SMB world from software sales, I don't think it's as effective. Like these owners are not checking their emails, like they're running a business. And so that's why I think it's not as effective.

And so at the end of the day, there's like a finite amount of places that I can actually work with. So that's why I don't go that route. But a lot of people will go the cold emailing route. What is your best selling product? Di Coke. Coke. Coke. Yeah, 12 ounce can't Coke.

Break down the unit economics of that. Like what do you sell for? What do you buy it for? And then how do you look at like your cost to fulfill? Yeah. So a 12 ounce soda from Costco, I believe right now is $0.49. I sell for $1.50. Now the one thing there is like, okay, so when I first started in vending, a soda is $33.

Okay, and I used to sell for a dollar. So that's a pretty healthy profit margin. But at the day, when they, it was, you know, it was a very, you know, it was, you It was at 52 cents at one point and they just lowered it. But the other day, there is only a certain price that somebody is willing to pay for these products, right? And so if they raise the price, let's just say it's 75 cents, like I'm not going to raise them.

I'm going to sell a toll on a can of Coke for $2. Right? Yeah, you got to eat it. Well, I'm just going to change the product, right? Because my whole thing is like I want my customers to see, I want them to feel like they're getting value anytime they're shopping with me because this is not a, transient customer if you're doing apartments if you're doing hotels like you can do you charge whatever you want and i have hotels as well but if you do office and stuff like that they need to see they need to feel

like they're getting value every time they use this and if they do that then they'll use the machine a lot um so yeah coke is probably my best seller and then i've been transitioning a lot to like Pepsi and seven up stuff data rates a big seller for sure but those prices have been going crazy recently Like I recently had to increase the price to like 250 unfortunately. And I think one thing to note is I think it's a big misconception. So I use Pepsi 7Up, Vistar, which is a food supplier, Costco, and Sam's Club. And the reason why I use all these different places is because I work at Pepsi, 7 Up and Vistar for the bulk of my stuff. But when I utilize them, the prices are more expensive than going to Sam's Club or Costco.

go. And so I'll buy my canned sodas from Sanford, actually. And so that's a big misconception. They're like, oh, you go direct to them. They're cheaper. No, but what they are doing is they are delivering the products to my warehouse. And so it's challenging for me to be able to pick up, let's just say, six to eight pallets per week of just product. And that's a lot of man out. Right. And so that's why that makes sense to do that stuff. I guess another good seller for me is Celsius. That's really popular now. Monsters, obviously big. And then what's getting challenging now is the candy. They've raised the prices so much, like the like Hershey and stuff like that, that it's getting very expensive to sell. And I'm starting to transition out of that. Like I'll have some staples in

there, but I'm transitioning more like cookies and stuff like that and those candy ribs. What about like salty snacks? What are the good sellers? Salty snack, like chips and stuff. Yeah. Yeah. So I was. Well, so we're, I'm in Southern California. So spicy stuff is like hot fries, like Chester hot fries. Cheeto, Cheetos hot, Cheeto lime, like those sell like gangbusters. And then let's see. I don't really sell like peanuts or anything like that.

But in regard, I used to sell lays and lays barbecue, but I've recently transitioned over the bulk to Boulder chips because Frito Lay is actually, again, raising prices again. So I'm trying to look for alternatives that are similar, but where I don't have to raise prices. Recently, I've always, I've been looking for a lot of that stuff. I was actually at a conference in Dallas, and I was just checking out a bunch of new products and seeing like what is out there that I'm missing. Yeah. That's what I was going to ask.

What is owning this business taught you about consumer psychology or consumer behavior? Because it's like everyone says they want to eat healthy. People want to eat. But it's like, I don't know how. I don't foresee Doritos not being around in 100 years. Yeah. It just seems like human nature will always allow for people to eat like crap. Yeah.

So my take on the situation is that so America shops at Walmart. Okay. And they do not shop at Whole Foods. Like just because you and your friends do does not mean that like I can say 90%, but a majority of America, that's not where they shop. Okay. And a majority of Americans do not eat, drink raw milk and nice stakes and, and all the scrap. Yes, it is very nice for us, but most people are just barely getting by, right?

And so these products, it's the same thing with cash. Everybody's like, oh, is cash dead? No, it's nowhere close to being dead. Same thing with gas for cars. It's nowhere close to being dead. These unhealthy products, they would say, if you consume them for your every single meal, yeah, like, that's not good. But if you have a bag of Doritos and a sandwich and a drink, like, it's not the best for you, but at the end of the day, it's not, like, going to absolutely kill you. So I think it's just a big misconception out there in regards to what consumers want. I was literally at a, I was touring a property the other day or yesterday and the property manager is like, yeah, we really like your fresh fruit products, like sandwiches, salad, stuff like that. She's like, that's going to be a big driver for business.

I'm like, maybe, but what I can say it will be a first for me. That's not the reality. And that's going on to another point. So a lot of people, they'll come up to me like, hey, can you put X into the machine? I'll look at it and I'll say, I always test products and then start to change things. So if Lays is selling well, I'll add more products just like Lays. If Lays is selling bad, I'll reduce the Lays and add whatever selling more. Right.

And so they always say, like, hey, put this, put that. And what I've learned in the business so far is you only do things based up what people are doing with their money, not their amount. And anytime somebody has told me this to make this change for what they want, they never buy it, right? And other people don't buy it there. And it'll always be like some specialty product, right? Like, hey, can you put coconut water in this machine? It's like, no. Like, absolutely. I'm not doing that. Yeah. If 50 people came in here and told me, please put coconut water, and then I put it in there and then they all bought it, then I would consider putting out other

places, but that's just not how it works for my experience so far. I want to learn more about you testing products or testing like vending concepts. Have you ever tried something wild like a $5 like olipop soda or whatever those are called or a vending machine that was just completely off the wall just to see how it would do. And tell me about a time where you've done that and you were surprised one way or the other. Yeah, for sure. So what I would say is like testing products is much easier in my markets because open concept customers have a little more discretionary income. and then on my traditional machines, like each product has a slot, right? So it's hard.

Like you got to change it in the back end. The team's got to go put it in. It's a little more challenging. So my market's always testing things, right? Like a lot of my food suppliers, they'll be like, hey, we're doing, it's called short codes, right? Like it's a deal, but the product's going to expire in two months or like fast for than normal. And so I always do those.

And not all the time, but whenever they send it to me. And it's always tests like new products and stuff like that. And I haven't really tested like, like, products on the high end. But what I can say is people are willing to spend a lot of money for like household items. So if they really need it, they're going to spend money on it. So like I'll put like medicine and stuff like this. And I'll still maintain a 50% margin, at least that's my goal. So if you buy motoring or clareton, like clareton is not a cheap product just in itself. If we were to buy it from from Walmart, I think it's like, you know, call me on the side.

I'd have to look. But let's just say the bottle for like 24 of them is like 15 bucks. And then if you sell 30, I don't know, to me that's a lot of money. It's like same thing with Bert Bees chapsic. Like it's not cheap. You buy it from Walmart and people will still buy it. If they really need it, they'll just buy it. So I think that's the biggest learning lesson that I've seen so far in regards to the testing. But for the for those like abstract drinks, I'm kind of a.

I don't know. I'm not a huge fan of them. And quite frankly, well, you'd be a huge fan of them if they sold, right? I don't know. And for me, man, if I will not. not consume it. If I will not purchase it for myself, I generally not will not put it in my machine. Like all the products that I put in, I'll take a bite before I put it. If I get a new product, I will literally take a bite. I'm not saying I eat it, but I'll try it, taste it. If it doesn't

taste well, I don't care what it is. I'm not putting it in there. If I couldn't be the main consumer, I can't expect my customers to be a consumer as well. Now, could I be wrong there? Potentially yes, but it's serving all so far. Yeah. What about vending machines? What if you went, what if you had like a poor performing vending machine in a really strong apartment complex? Then you're just surprised. It's not doing well. Have you ever thought about approaching the owner and say, hey, I'm going to swap out this machine with an electronics machine with USB chargers. It doesn't have to be that, but anything completely different from food just to see how it goes. What do I have to lose? Have you ever done that or thought of doing that? No. It's good ideas for sure. I actually have a buddy

that does like rental out of machines. It's like you can rent a. He does what, what out of machines? you can it's a little bit different machine but what it is like you can open it up and then you can rent like a beach chair or something like that i don't know like we start doing these like funky things like number one the machine is like more expensive so let's just say you want to do like hot food right like that machine is 20 30 000 right to have a hot food machine right like that that can bake you a pizza right and then just like logistically it's more challenging there's just like other factors that are involved with just literally just testing it out what i would say I've tested like smart coolers where it's like you swipe your card, you open the machine,

you kind of grab anything you want and automatically charge you. Maybe I'll put some funky things in there, but outside of food and stuff like that, I generally don't test too much. Yeah. You're pretty married to food, though, right? Like you have food vendors, you have a warehouse for food, you have systems around food, you have expiration dates. I think it'd be kind of tough to take one vending machine and swap it out with something

non-food. Yeah, it's just, so the way I've built my business is trying to be like the four assembly line, right? Everything is going through the same, all. machines are getting the same things for the most part, right? Maybe if somebody was wanting to get in there and stock stuff themselves, then I'm sure you could or even just building a team around that. But I don't know, it's just for me, it's just easier just to do what I do. The easiest way to run this business is literally just have a drink machine where you click the button. So it holds like eight

different products and just put a bunch of those out there. Your life will be possible. The drink machines are the easiest. Yeah, yeah, for sure. Because like you can just buy a case of it and just put it there. Like you don't really need story. Yeah. And I've heard like stories of people doing that just literally just a drink machine only route. Yeah. What numbers can you tell me with regards to your volume like snack sold per day or machines place or revenue? I'd love to hear anything you're willing to share. Yeah, for sure. I'm doing in the range of like 1500 to 2000 and like sales per day. Nice. Yeah. It's definitely training up higher towards like 2000. Is there a day of the week that's typically busier for you? So I have some locations that are Monday through Friday.

So Monday through Friday, I do more volume, but. Okay. Yeah. On the weekends, it's still up there, but it's some locations aren't online, basically. Okay. So I want to switch gears and I want to get your thoughts on this vending concept. So I came across this concept in Europe and it is a perfume vending machine. Have you seen these? I have. I haven't dove into it and see how it works, but I've seen a pitcher. The ones that spray perfume specifically? Yeah, I've heard of the concept, yeah. Yeah, so I don't think it really exists here in the U.S., and that could mean that it's just not a good cultural fit, but you put in five bottles of perfume, and there's like a little glass case where you can see them, and then there's a little plastic tube going in each of the bottles, and it's, you know,

cashless, swipe your card, and for a dollar, you just put your wrist up or your neck or whatever, and it sprays on you. And it's got 90% margins. You don't have to refill it that often. You also have the option to sell the whole bottles with a QR code with like affiliate links, drop ship it, right? I thought that was interesting. They were like $2,500 machines. Do you think that could work? And if so, what type of a venue do you think that would be good in?

And like what type of hangups do you think one could experience? Yeah, I think it, I mean, could it work? I don't know. It's going to take somebody to go do it to let us know, I think. But yeah, could you see it out like fine dining? Like when the guy in the bathroom is like the mints and all this stuff, like you just have it in there as opposed to that guy maybe trying to think where else i mean maybe a strip club let's see i wonder if like in the bathroom at a gym right and you're like you're kind of stinky

and it's just like i don't want to smell like crap here's a dollar so maybe i don't yeah yeah good even try to any of these exotic ideas i think 2500 bucks for a machine is fine there's just a lot of different factors i go into this and what i would say is like don't let my words discourage anybody if they're like listening to this and they're like oh i want to try ideas i always think that they should try it out and then learn based off what they see in the marketplace or what's taking place. Just because I am unwilling to do it and I don't do it doesn't mean that you should not because a lot of people will tell me things like don't do these certain locations, certain areas or whatever and I'll go do it. It's like, why aren't you doing these?

Yeah. Yeah. People fantasize about a lot of things. And my fantasy is like snapping my fingers and having 10 of those perfume machines placed tomorrow at 10 different venues. Like a gym, A movie theater, a mall hallway, a gas station, a restaurant, streetside in New York. I would just love to have all those places at the snap of finger and then just look at the analytics come in. You know, it's like, wow. Oh, the gas station's killing it. That's surprising, you know?

Exactly. Yeah, yeah. Yeah. And then once you figure it out, then you can expand from there. Well, yeah, I mean, like other niches like that I think are interesting. Like, I've heard like people talk about jukeboxes. I think that's interesting. You posted about the massage chair.

That's interesting. I think that machine is probably a little pricey. Let's see what else. There's a whole bevy of things like that are like credit card reader based machines, machine based businesses, I should say, that are potentially very interesting. And I, my only thing is like, it's just scaling it up. What is the easiest thing to do? But, you know, a lot of people, they don't want to scale it up. Like it's, could you just have 10 machines locally and just have some nice side income?

Yeah. And that's probably fine for like majority of people, to be honest. Yeah, the hard part is with these new exotic machines is like, there can. can't be much friction. Like, you have four seconds to convince the consumer that they should swipe their card here. So if it's like too weird or too, like a gold bar machine, like you have to have the right person in the right location and they have to grasp it immediately. Otherwise, you're just going to lose everyone. I think my favorite one was I was in college or we were visiting. So I went to Michigan State. We were checking it out.

And we went to this tiny little bar. I guess it wasn't tiny, but it was a sports bar like in the middle of nowhere. And we go in, go to the urinal. and I can pay money to see how big my pee is. And so basically what it is, like, I go pee and then it's like, oh, can you set the record? Like, biggest. What? Yeah.

How big your pee is, like how much volume you put out? Yeah, yeah, yeah. I got to write that down. That is crazy. One of the more interesting concepts I sign. And here's the reality, like, men are extremely competitive. So it's like, if two dudes are doing that, like, you're probably going to be like, hey, let's try this out. And I did try it out, right?

You did. And how big is your pee? I take big peas. So I can't even picture what this looks like. I'm going to spend an hour Googling this today. I hope you know. But like, would you pee into something and it like measures it on like a ounces basis? No, no, no.

It's like just a urinal and there's like a trap, I think, at the bottom. Okay. Yeah. You're not like peeing in a cup or anything. But you have to pay. Yeah. And there's like a game thing. on top.

Like a leaderboard? Yeah. This is many quite a few years ago. So like maybe the designs have changed. But yeah, that's effectively what it was like you pee and then they're like a leaderboard. I think it was like for that day. So I don't know. Wow.

Holy cow. To be the guy that thinks of that idea and then spends who knows how much money to get developed like. Right. Yeah. That's crazy. Like people that invent things like that, I think are the opposite of me because I have too many ideas. And so I'm going to go with the cheapest, the least amount of friction, the one I can

test for $100. But some people, they go 60, 80 years and they get one big idea. And they're going to go all in on that one idea. And it's like, that's how these stupid things come to be that sometimes end up being successful. Because that one guy just had that one idea and he had to, and I mean, respect. I respect anyone that executes on an idea because most people just think about it until they die and then they regret it. But yeah, no, it's a really interesting concept. I would say the only problem is like from a maintenance perspective you're having to deal with like uh i don't know you're like so bad it's all filled a pee right yeah that is crazy so i know you're leaning hard into ATMs last time we spoke are you still doing that and how has that been going yeah for sure

it's it's going good i like the business a lot it's very clean business or your inventory's cash which is nice. And that's a very simple business, right? Like when you look at a vending machine, there's a lot of skews. It's, you know, challenging to get the products from point A to point B. You got to, it's just a lot more work, right? Now, the main difference between the two is a vending machine has the potential to do a much, much more revenue, more revenue than an ATM machine will ever do.

You know, the ATM is much simpler, right? It's put money in. You get able to surcharge. and that's how you make money. Now, there are some locations that could probably do quite a bit of revenue, you know, a strip club or a casino or a dispensary. I was doing due diligence on a dispensary location in Colorado. And it was doing, you were netting like 50K a year on three locations, which is pretty solid.

And so that's a lot of revenue, you know, so. Three dispensary locations, 50 grand a year? Yeah, pretty good, right? Wow. Yeah, that's good. I have my notes from our last chat and you said that like you're looking for four to five, six hundred bucks per machine per month. Yeah. Yeah, yeah, for sure. At least like locations that I see around here. So yeah, what is that number? What is that 50,000? Let's see. She's a 15 grand a month. Yeah, right. Or sorry, sorry. That's per year though, right? Yeah, 50,000. 16 grand a year. So it's like 1,400. a month, 1500 or machine. So three, four times as much. Crazy. No.

If you can get locations like that, and look, I mean, was this even that great of a dispensary? I don't even know, right? Like, why do you guys? I mean, it could be selling it because the laws and stuff like that. But yeah, I'm sure, like, there's monster dispensaries out there in Vegas specifically, like planet 13 or whatever it is. Like, it's huge. And, you know, could this thing be peeling off 100 grand a year or a month?

probably. Yeah. Are you trying to convince people that already have ATMs to swap them out with yours or are you trying to place ATMs where there is none? It's a good question. A majority of time where there is none. It's a challenge. So from a value proposition perspective, I can win a lot of business on, from the vending

perspective, if their current operator is providing poor service. And the ATM is a little bit more challenging just because the only time like an ATM is not working as like if it's out of cash or the machine is broken, right? And most of the time, the vending machine will not break. It's just like they put bad products in. They don't do this. They don't repair the machines. They don't fill the machines. That doesn't happen as much in ATM. So it's a little more challenging to win that business. That said, I have one accounts from a existing vendors. A couple. But I don't think that's the lowest hanging fruit. What types of locations are you in again? I thought you said gas stations, the last time he spoke.

I do a lot of hotels. Hotels. Okay. For ATMs? Yeah. Yeah. Are you in any gas station? No, I'm not.

Interesting. Would you like to be? I'm open to it. The reason why I'm at hotels is because I originally bought a route off a guy. Yeah, so me that was retiring from the business and I bought a route from him and he just had a bunch of hotels. And so I kind of just built it based off that little niche. Most gas stations, they're going to have an ATM. And so gas stations, they're going to have an ATM.

stations, they would probably like to acquire to get those, they would need to have a very poor operator where I'd need to acquire somebody's business from, at least just from a macro perspective. Now, once I get in the weeds and start calling them, like, could that change probably? But so far, that's kind of what I see. Do you find yourself when you go, when you just drive it, living your everyday life, not even working, you go somewhere and you're like, oh, geez, this place needs an ATM. Oh, this, they would crush it right there. Do you do that?

Yeah, for sure, for sure. Do you ever do something about it? Like go talk to the manager right then? Yeah, absolutely. If I think it's a good spot, then I will. That's a great thing to do for like newer people getting into the business. It's like if they see an opportunity, like just don't be scared to take advantage of it, right? Like sit there and then call the number when you get home, go up to the person and see what's going on.

If anything, like they're going to say no, but it will allow you to learn like just some information that maybe you wouldn't have like without asking. Yeah, like I'm thinking of something that I did. I was buying and flipping single family homes. And we were scaling this around the state. And I would pay people on Craigslist to go just drive around and take pictures of dilapidated homes and then submit them to like a Google drive with their address. And I'd pay them like five bucks per home. And it had to be it. There had to be a picture and an address.

And then I would use a VA to go find the contact information and reach out to them. Because that's one of those things that you just can't really scale. Right. And I'm thinking like, what are you? Okay, with homes specifically? Yeah. So when we were looking at San Diego, I was just cruising around, just looking for just shittles.

You could totally do that with this. Like, you could find a guy, say, hey, I want to find gas stations under construction because they're going to need one. And I want to find hotels that don't have them or any apartment that doesn't have either an ATM or a vending machine. And I'll give you $20 for every address you give me. And I'll give you $40 or $100 if you can just go. up to the person say, hey, can I have my business partner come in person? Because I know you told me

that in person closes like much, much higher than phone and let's chew up an appointment. What if you did that? You just had, because that's one of those things where you can't like scrape a list of hotels that don't have ATMs. Like you got to drive around to hotels. Yeah. I'll do you one better. What we do is we call and we say, hey, me and my girlfriend are looking to book a room there next week. And I was, I don't know how type those to use. And if they say no, then mark it down. Yeah. Genius. Genius. And you can have anyone make that call, right? You could scale that infinitely. Has that worked pretty well? Yeah, for sure. I remember you told me that for like a $5 transaction fee, you're sending $1.25 to the Volter who fills up the machine with money and about a buck

to the location owner, give or take. That leaves you with, you know, $2.50 or so. Do you have to, like how often do you or someone on your team have to go visit that ATM in person if you have a Yeah, the Volter is handling everything. So they're going weekly, typically, to fill the machine and make sure it's working properly. Now, this is a professional Walter, right? Like, there's probably others out there that are not professional, but they're vultors. For me, what I do is I actually will still hand deliver the checks. I like to have relationships with all my accounts.

And so at the end of the month or the first day of the next month, I'll drive around to the locations and give the checks to the team, talk to them, or the management at the sites, talk to them and see what's going on, build a relationship, stuff like that, where most, most people will just do like direct ACH deposit and it's very transactional. Should I do that? Yeah, probably to scale, but I don't know, what I'm here right now works. I have enough time to be able to do that. There's other operators that are nationwide and that's not even possible.

So you can't do that. Would you say that your growth is constrained by your, the city that you're in? If you're, if the city slash market you were in within the same geographical footprint had 10 times as many people, 10 times as many hotels, gas stations, yada, yeah, yeah. Would you be able to just grow like gangbusters or are you constrained by other factors? There's definitely other factors. There's other operators in the space like for ATMs specifically. Yeah, ATMs.

There's other. There's a ton of operators. Like if it was blue ocean, then and there's like, I'm just cracking into the business. Then no, I could grow to like infinity. But I think like outside of like potential locations, I think the bigger factor for, like growth hurdles is definitely like a crowded market. Again, it's harder to, for my experience so far, I think it's harder to have that value proposition to take over existing operators, right? If I had the magic bullet and outside of just paying more commissions, because that's not a

value proposition in my opinion. That's what a lot of people do. They just say, hey, what's their current commission? Oh, okay, I'll give me more. Let me get my machine here. I don't really roll that way. I'm not going to compete on commission. I don't think that's good business. But if there and other operators out there, like, yeah, again, I could just grow it huge. Yeah, because I'm thinking like, what if, and it could be like, quote, trying to solve a problem that you don't have. But let's say you were to identify five big markets, like other side of the country, anywhere in the U.S. and you were to take a thousand bucks and find five VAs to call up a thousand hotels in each market, put them all in a spreadsheet and say, all right,

well, Jacksonville is only 20% saturated, but Charlotte is 40% saturated. And I know that, In my market, this is my baseline of what I'm used to is 30%. So anything under 30%, I'm going to have an easier way of growing than in my market. And then you've got an audience. You can use your audience to find like operating partners in each area where it's like, listen, here's how I do business. I don't compete on price. I hand deliver the checks, but I got to install the machines.

Like I'm looking for someone. You can get a percentage of my revenue directly from that. That can be like just my presence. You install the machine. You hand deliver the check. And then we still use a vault or et cetera. Do you think that would be possible? Yeah.

Dude, look, I love talking to you because you're always thinking bigger. Is it possible? Yeah, for sure. One thing I would say, and this is not like ticket to the bank gossip, but if you're going to be expanding across the nation, the reality is like, will this niche work in Jacksonville? I don't know, right? Like you got to go find out.

I don't think you just full send it everywhere. That's like a process. Now, obviously, you know, maybe different niches. It's literally, that doesn't matter. again. So strip clubs, hotels, or not hotels, casinos and gas stations, strip clubs, marijuana dispensaries and like casinos, I'm sure full stop. If you put them anywhere across the United States, they're going to do business, right? Will hotels translate? I don't know. Right? Like, I go test it out. And I'm sure it will, but I don't know the type of volume and it doesn't

make sense to do all this stuff. So it just requires a little bit more DG in my opinion or just literally doing it. Yeah, that's what's interesting to me about picking five markets because You could learn that the market you're in is a lot harder than average than the baseline, you know. And you take these five markets, Jacksonville is 10% saturated. Your market's 30. Everything else was 70 plus. And then it's like, okay, if I do, you don't even have to full send it. But if I do start making cold calls into Jacksonville or find an operating partner in Jacksonville, like, I could look up my market and be like, dude, what am I doing here?

I need to move to Jacksonville. It's so much easier there, you know? Yeah. And you're 100% right. 100% right. literally it will just take me to just do that, right? Yeah. But if you're already busy as it is,

I can't really need. Hey, if there's a will, there's a way, my friend. That's true. What I've learned from you and talking to you over a few short hours, like, it doesn't even matter what you choose. Like, whether you sell your business or you make it a $10 million business growth

by acquisition, or you go to freaking Jacksonville or you only do ATMs, like you're already doing the harder things. Like you've already mastered cold comm. And if you can cold call, you can do anything. You're already like doing things that, quote, don't scale, the high touch things, hand delivering. Like, you've already mastered these skills that you can apply to anything. So it literally doesn't matter what decision you make.

Like, you're going to crush it. You're going to do great. I appreciate it. I would definitely would not say I mastered like the operational side of things. I think I've mastered the fact that I really don't like it. Same. Yeah. And so you just learn so much stuff like about yourself.

And so if I were to acquire something that I would definitely need a partner in that. to do the operational side of things and still be there with them and learning and stuff like that, but just allow me to do more of the sales and growth and stuff like that, which I know a lot of people, like, they want to do that. But so yeah, yeah, I'm learning a ton for sure. Definitely not a master still learning. And anytime I talk to people, just like you, I'm learning a ton. The other guy Mitchell who does ATMs, I mean, he's taking the concept and raise money and got a bunch of ATMs, like, could I have done that for sure? When I first started out and was tweeting, They like, do how do I invest?

They still do, right? They hit me up all the time. Like, can I invest in the business? And I've just always been like, yeah, like, I don't really need it. Right. But yeah, can I take that money and acquire a bunch of routes and have a $5 million a year business right now? Like, yeah, for sure.

Could have. Yeah. But yeah, once again, it doesn't matter. You're in the game. So along those same lines, if an investor wants to reach out or an operator wants to reach out, where can they find you? Yeah, the best place is. Twitter, just shoot me a DM or something like that, more than happy to chop it up.

If I don't respond or something like that, it's not because I don't like you as we get a lot of messages. And if you're asking me this long, with my question, I'm not going to be able to type you a paragraph back, unfortunately. But you do have a, you do have a course that people can buy, right? And they find that. Yeah, I have a course. So what I recommend to people is, won't just buy the course.

Check out my Pint tweet. If you still don't know what to do and you're like, man, I still need more help. feel free to buy the course. They'll teach you a bunch, but I think I have enough for your information out there where you can get by. And then if all that stuff is still not enough information, feel free to schedule call me. I know a lot of people will prefer to just get at versus buy the course. And so you can schedule call me and I'll tell you my story and I will tell you yes, no, what I think is right, what I think is wrong. Yeah, those are the main ways.

Yeah, everyone's different. Like some people will read a pin tweet and go start a vending business. And some people like need you to hold their hand the whole way. Or they just want like a paid call. So it's Quinn, Q-U-I-N-J Miller at Twitter, right? Yeah. Yep.

Okay. Well, thanks, Quinn. This is great. I think a lot of people are interested in vending. I know I am. You've got an awesome business. You're an awesome person. And thanks for your time.

Thanks for having me on. We got to get you of any machine the next. Dude, I'll do it. I'll do it. Dude, I don't even tempt me. I'll start any business anytime. It's a problem. It's a clinical addiction.

I love it. I love it. So, well, thanks for your time, man. It was good catching up with you again. All right, man. We'll talk to him.