Today marks a bittersweet moment as I stand just a couple of hours away from selling my vending machine business in its entirety. This venture has been an incredible journey over the past year, arguably one of the best businesses I’ve built from a cash flow and scalability perspective. The decision to sell wasn’t easy, but it’s a necessary step toward the next chapter of our lives.
The Success Story
Running the vending machine business has been an enlightening experience. With a much lower cost investment compared to other businesses I’ve started, the revenue it generated was significantly higher. The business model’s simplicity and profitability are something I would revisit in a heartbeat under different circumstances. However, life has its plans, and for us, it means freeing up the ability to be away from our city for extended periods. We’re looking at living out of the country for a few months at a time, and managing the vending business remotely would be logistically challenging.
Selling the business for 12 times the monthly revenue means I’m getting a year’s worth of revenue upfront, plus the value of the equipment. This includes the dolly, pallet jack, product shelves, and all the inventory I have on hand. It’s a package that’s beginner-friendly and offers a seamless transition to the new owner. The locations are prime, averaging around $2,100 a month with good foot traffic, and the seven machines included are top-notch.
Reflections and Future Plans
It’s a poignant moment as I reflect on the past year. I’ve learned an incredible amount, and while it’s sad to see the business go, I know it’s for the best. This move will free up time and capital, which we plan to invest more into real estate and Airbnbs. The goal is to have a more remote-friendly approach to our investments, allowing us greater flexibility and better leverage.
A Note on Credit and Travel
In other exciting news, I’ve been approved for the Capital One Venture X Card, known for its stringent approval process. This card is particularly beneficial for international travel, offering a plethora of travel partners and benefits that align perfectly with our lifestyle. It’s a significant milestone that complements our future plans beautifully.
Gratitude and Looking Forward
As I close this chapter, I’m filled with gratitude for the experiences and lessons learned. The future is uncertain, but we’re excited to take it one step at a time, exploring new horizons and breaking traditional rules. I’ve been out of the corporate world for about a year now, and life has dramatically improved as I’ve delved deeper into sales and small business operations.
To anyone watching this journey or considering a venture into the vending business or any entrepreneurial endeavor, I’m here to help. Feel free to reach out with questions or for advice. I’m more than happy to share my experiences and insights.
I wanted to include another video referring to what happens AFTER the vending business was sold off.
It’s fun to think about the future and where we’ll end up but for now, i’m just excited to see what’s around the corner!
- Why Thinking Bigger Might Just Change Your Life
- The Health Benefits of Using a Ice Bath Tub: A Comparative Review of Plunge and Edge Theory Labs
- Why You Should Focus On Documenting Your Journey
- The Cost-Benefit Analysis of Investing in a Cold Tub: Plunge Vs Edge Theory Labs
- January 2024 Financial Freedom Update
- Should You Consider Leaving the US? A Perspective on Moving Abroad
- 5 Passive Income Ideas to Make Over $10,000 Per Month in 2024
- Why The Right Vending Machine Locations Make All The Difference
- Here’s Why Content Is the Best Leverage you Have
- Building Confidence: Your Actionable Guide to Self-Assured Success