In today’s episode of The Art of Passive Income, Mark and Scott talk with Matt Miller, SSVBusiness.com—a vending machine franchise, with a twist.
Matt spent the first nine years of his career as an Air Force pilot before entering the corporate world to work at both Abbott Laboratories and Valassis. Despite being a top performer for both companies, his long-term desire was to start a business and be his own boss.
Then, a conversation Matt had with a friend about gumball machine vending inspired him to invest in his own machines. Starting with candy and gumball machines, Matt soon became frustrated with the market downturn of ’07 and ’08 because there weren’t as many people frequenting his regular vending locations… then a knock came at his door. Local kids were selling merchandise for their school fundraiser and Matt thought there had to be a better way for these kids to raise money than knocking on the doors of strangers. That’s when School Spirit Vending was born — customized school stickers machines, placed in schools and part of the proceeds go back to the school’s fundraising campaigns.
Matt has taken vending beyond the gumball machine and has brought School Spirit Vending to the cutting edge of both the vending and school fundraising industries by combining these two ventures into one, then took it to the next level by franchising it. With franchises across the country, they are raising millions for the schools they serve.
“I had 75 schools myself before I walked away from my full-time advertising career. I was working about five days a month to make an income that was in excess by several times what my full-time career income was.”
Join us as Matt walks us through his business model, both on the vending and franchise sides. He delves deep into:
- Profit margins
- Start-up costs
And, are the challenges in this business?
Matt explains that the hardest part is the learning curve in the first few months. Everybody that joins the team with no vending machine background has to learn the vending part along with how to work in the school’s environment.
Plus, find out everything you need to know to get started in his franchise.
Is Matt’s model a good source of passive income? Matt shows us some pretty impressive margins that suggest that it might be.
Matt has a special offer for our listeners. His course—Vending Secrets To Passive Income can be accessed at VendingSecrets.net and with coupon code: bestpassiveincome is available for only $97!
Listen in now to learn more about Matt and his company!
TIP OF THE WEEK
Scott: Check out the Google Chrome extension Meetingbird at MeetingBird.com/Chrome.
Matt: Read the book, DotCom Secrets: The Underground Playbook for Growing Your Company by Russell Brunson. Also, check out my e-book, Live your Dreams: Top 10 Reasons Why You Need to Start a Vending Business.
Isn’t it time to create passive income so you can work where you want, when you want and with whomever you want?