#187 - How Vending Machines are Generating Millions, The Next Big Social App & Ghost Kitchens For Gifts

My First Million

Hubspot

Entrepreneurship, Investing, Business

4.8 • 2.7K Ratings

🗓️ 28 May 2021

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

There are entrepreneurs quietly generating six figures working part-time in the vending machine business. Others have been able to scale to multi-million and even multi-billion-dollar figures in the industry. Shaan (@ShaanVP) and Sam (@TheSamParr) break down the vending machine industry with tons of numbers and exactly how some are pulling it off. The guys transition from a "boring" business to high-tech ones as they break down how Vimeo went from a College Humor project to competing with YouTube and earning an $8b valuation. They also talk about a trendy new pod that generated 500k downloads on its first day and they brainstorm on a fun concept: ghost kitchens for gifts. --------- * Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/ * Support the pod by spreading the word, become a referrer here: https://refer.fm/million * Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas. --------- Show notes: * (5:55) How Vimeo became an $8b company * (14:26) The next big social app? * (25:45) The millions to be made in vending machines * (41:35) Ghost kitchens for gifts * (53:00) Post-podcast free talk

Transcript

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0:00.0	So I like these like big things off our companies that can scale.
0:02.8	But when I heard him describing this, I'm like, God, I want to get it on this.
0:06.5	Like this is still like you know what I mean?
0:20.4	What's up?
0:21.1	Sean here.
0:21.8	We got Sam and today's episode we're going to talk about a blue-collar side hustle,
0:26.8	aka the hillbilly of the week, which is a vending machine business and
0:31.6	sand breaks down all the numbers behind it.
0:33.6	We talk about this idea of creating the edible arrangements of
0:38.0	DoorDash through Ghost Kitchens.
0:40.0	We talk about the new hottest app in the app store, the number one app,
0:44.5	aka is this the next Snapchat?
0:46.0	Is this the next clubhouse?
0:47.3	We don't know.
0:48.0	It's called Paparazzi and I tell a story around that.
0:51.1	And we talk about Vimeo, a you know, a business you probably heard of,
0:54.9	but may not realize that Vimeo is now a $8 billion business.
0:58.2	And then at the end, we shoot the shit with a braille and the new a braille,
1:01.8	Dan and you get to meet him a little bit.
1:03.3	So that's the last item of 5-10 minutes of the episode.
1:05.4	All right, great episode.
1:06.4	Enjoy.
	...

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