Are Vending Machines Smart Passive Income?

AskPat 2.0: A Weekly Coaching Call on Online Business, Blogging, Marketing, and Lifestyle Design

Pat Flynn

Business Advice, Marketing, Podcasting, Getting Started, Business Strategy, Business, Small Business, Passive Income, Online Entrepreneurship

4.9 • 638 Ratings

🗓️ 17 August 2016

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today's question comes from Jasmine. Do vending machines qualify as smart passive income? For an example of a vending business, check out my friend Matt Miller's School Spirit Vending (http://schoolspiritvending.com/). If you have a vending machine business, share your experience on Twitter with #AskPat672. Do you have a question about different business models? Record it at http://www.askpat.com/. Thanks to our sponsor, iubenda. If you have a website, you need a privacy policy. iubenda will help you create one; go to http://www.iubenda.com/ to build an easy-to-read policy. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	AskPath.
0:04.0	AskPath.com.
0:11.2	What's up, everybody?
0:12.2	Pathlin here and welcome to episode 672 of AskPad.
0:15.8	Thank you so much for joining me today.
0:17.3	We have a very cool question today from Jasmine.
0:19.3	But before we get to her question, I do want to thank and let you know about today's sponsor, which is Iubenda.com.
0:25.7	Hey, you know, if you own a website or developing apps or websites or anything for others,
0:29.7	you need to be sure you have the right privacy policies in place, right?
0:33.4	And actually, it's the law.
0:34.7	So Iubenda takes the hassle out of trying to create one of your own,
0:38.3	and it only takes a minute to you to build your own privacy policy statement for your site or app.
0:43.1	So go to Iubenda. That's I-U-B-E-N-D-A.com and create your own easy-to-read privacy policy today.
0:50.4	So again, Iubenda.com. All right. Now, here's today's question from Jasmine.
0:56.0	Hi, Pat. My name is Jasmine. Love your show, Absolute God's End. Wanted to know your
1:01.6	opinion on vending machines if they're smart, passive income. Thanks.
1:07.2	Hey, Jasmine, what's up? Thanks so much for the question. And, you know, it's funny, I have always
1:11.5	thought about just setting up a vending machine and just seeing what happens because it is, in a way,
1:17.3	passive income. And, you know, I know a lot of people who actually manage vending machines on their
1:21.2	own and every once in a while, they go in and replenish the stock. Sometimes it's, you know,
1:26.0	soda and water. Sometimes it's candy you know, soda and water. Sometimes it's, um,
1:29.2	candy and snacks and sandwiches and other things like that. And other times it's, it's bigger
	...

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