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Speaker 1: I'm very bullish right now on micro markets in this

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kind of modern vending space, you know, traditional vending machines

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and entering the codes and watching the motors spit down.

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The Snickers is now going to a massive revolution. So

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I think there's a prime opportunity right now for people

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to grab market share with these newer micro market concepts.

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Speaker 2: You are listening to Carrie Letz's Financial Survival Network, where

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you get valuable information you just can't find anywhere else

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to thrive in today's trying times. You need the Financial

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Survival Network now more than ever. Go to Financial Survivalnetwork

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dot com and get your free newsletter and gift. Financial

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Survival Network now more than ever.

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Speaker 3: Ed. Welcome you are listening to and watching the Financial

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Survival Network. I'm your host, Carrie Letz. Well, everybody's looking

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for passive income, real estate, seeing property, all sorts of

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different things, but this is a different take on it.

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We've got mister passive dot Com on with us, Michael Hoffman.

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If you've got a question for him or myself, shoot

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me an email k L at Carrie Let's dot com. Michael,

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great to have you on the show. So everybody's looking

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for passive income. What's your take on the on the

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on the space.

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Speaker 1: Yeah, Carrie, thanks for having me. Sorry it up to

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be here. I think from my side, you know, everything

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is as passive as or not passive as you allow

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it to be. So I'm a huge believer and systems,

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whether that's real estate or vending machines or what a

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bitcoin minding, all the different kind of investments I have.

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But my take is trying to build something and then

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remove myself from the business as quick as possible.

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Speaker 3: So what's your favorite passive income stream. Oh, that's a

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tough one.

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Speaker 1: I'm very bullish right now on micro markets in this

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kind of modern vending space, you know, traditional vending machine

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and entering the codes and watching the motors spit down

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a Snickers is now going through a massive revolution. So

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I think there's a prime opportunity right now for people

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to grab market share with these newer micro market concepts.

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Speaker 3: Okay, And so how much does it take to get

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into that business?

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Speaker 1: That's the beauty of it. And that's actually why I

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got into it, as I couldn't for my real estate investments.

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I keep couldn't, right, I couldn't keep putting twenty percent down.

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So I went down this path, and all these machine

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manufacturers allow you to finance them just like a real

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estate investment. And so for me a lot easier to

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put ten percent down on a six grand venue machine

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than it is ten percent down on an investment in

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real estate.

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Speaker 3: So what about locations, Like, how do you get somebody

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to accept your machine instead of somebody else's.

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Speaker 1: Yeah, so that's a really good question right now. We

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like to target places that either have traditional machines and

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now want to do salads and subs, or dayquill and

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niquill and phone chargers that traditional machines wouldn't allow. So

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a lot of our business, honestly, is we're replacing old

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school machines with the newer concept.

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Speaker 3: So what kind of things are you selling there? You

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said phone chargers? I heard probably cables? What else?

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Speaker 1: Yeah, so we just installed an urgent care, for example,

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and we'll probably do a lot of the items that

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you know, a lot of the times when you leave

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the urgent care and they're like, oh, just let the

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cold play out, go to the pharmacy and get cough

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drops in day quill and niquill. Those are options we

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could put in our machines.

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Speaker 3: They see, okay, and how much can you make of

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off these.

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Speaker 1: Things depend on the location. We have one location that

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does did over seventeen grand last month, and then our

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standard locations are around fifteen hundred to three grand.

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Speaker 3: A month fifteen hundred, so how many machines could you

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reasonably expect to get out there?

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Speaker 1: As many as you want? Most people will try to

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get to ten to twenty grand a month in cash flow,

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so they're trying to get to that five to ten

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machine mark. But we've bought and routes now remotely. We

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own a route in Chicago, for example, that we bought.

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Even though we live in Oregon. We have our route

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here in Oregon, so it's kind of a scale. As

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quickly as you'd like, you can buy baby Boom boom

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or routes things.

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Speaker 3: Like that, so you basically have to go and restock

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these things, right, I don't.

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Speaker 1: I mean, that's what we usually teach people how to

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hire operators that would do that type of stuff. But

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in theory, I always recommend do it initially yourself, so

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you know what you're delegating.

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Speaker 3: And so I sen with the location there's a profit split,

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and then with your route manager. There's also a profit split, right,

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that's correct? Yep, yeah, So how much do you wind

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up with at the end of the day.

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Speaker 1: You usually want fifty percent margins, So like I seventeen

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grand locate, you're probably bringing on eighty five one hundred

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to nine grand.

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Speaker 3: Yeah, that's not bad, all right. So it sounds pretty

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easy to get into this. Probably the credit is pretty simple, yeah, yeah.

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Speaker 1: Yeah, not like you're taking out a three hundred thousand

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dollars mortgage.

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Speaker 3: Sure, all right, So what other things besides mini marts?

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Speaker 1: These smart machines now with these AI cameras, they track

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what you grab out of the machine. So there's no

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honor systems. You know, you think you go to the

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Marriotte and they have the open market that you grab

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something and you got to go up to the front

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desk and throw the bottle of water on your your

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room charge. Nowadays, the smart machines, you have the kiosk

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to unlock the door, and the AI cameras will charge

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you based on whatever you grab out of that machine,

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because you have to use your credit card to unlock

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that door. So we have people and with our routes

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that we've helped build that'll put in there, like thirty

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five dollars shampoo they'll put and eggs, olive oil. Basically

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the mini convenience store at these apartment complexes. So truly

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it's kind of you know, you can put it's just

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shelf space, so you can do whatever you want on

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these machines.

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Speaker 3: It's interesting like the Bright Line railroad here in Florida,

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their stations have got totally unattended convenience stores and like

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you say, you scan your card to get in and

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then it automatically charges you on the way out.

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Speaker 1: Yeah, yeah, I mean the same thing when you come

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down the escalator and it says welcome to Las Vegas

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and the Las Vegas Airport. They have an entire seven

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eleven that is unattended. You scan it or to get

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in the seven eleven. Yeah, that's where all these huts

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and bookstores are going to be going too.

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Speaker 3: It's a brave new world here.

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Speaker 1: Huh AI's crazy Carrie crazy.

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Speaker 3: Amazing, amazing, says somebody's starting out today, Say with twenty

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five thirty thousand dollars, what would you tell them to do?

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Speaker 1: Either tap in your connection and try to if you

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know someone a place that might have high foot traffic,

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like somewhere someone lives, like an apartment complex, or like

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an urgent care or pet hospital. If you want to,

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if you want some help and get accelerated help, you

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can always go to our website entrepreneurs dot com and

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book a free call with our coaches as well.

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Speaker 3: So, so from what you're saying, it's pretty easy to

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actually get these locations.

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Speaker 1: If you know the right things to say. Absolutely.

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Speaker 3: Yeah. So what do you tell somebody when you're trying

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to get into their location.

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Speaker 1: Well, depending on the type of location. If it's a business,

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every business owner loves to keep their employees at work

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during their break, so they want to bring food to

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the employees. If it's an apartment complex, the number one

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complaint residents have is having a door dash or get

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in their car to go get something from the seven eleven.

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So the mini convenience store in the lobby is always

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gonna have value for them as well.

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Speaker 3: Interesting, so we could be seeing a lot of these

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mini convenience smarts, unattended pop up in apartment buildings and

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condos around the nation.

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Speaker 1: Anywhere, urgent cares, peed hospitals, I mean, think about where

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there's a there's people congregating and just hanging out with

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foot chofolate.

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Speaker 3: Interesting. All right, Hey, so tell us how do we

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connect with you on the web. How do we find

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out more?

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Speaker 1: Yeah, you can go to go to our website than

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entrepreneurs dot com and watch some videos on how you

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could do it yourself, or if you want to schedule

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a free call to see if you need some help

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or not.

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Speaker 3: All right, excellent. I appreciate you coming on here, Michael.

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If you've got any questions or comments for Michael myself,

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shoot me an email kl at Carrie LUTs dot com

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and hey to find a link in the show notes

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of this interview on Financial Survival Network dot com. All

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we ask is if you go there, just sign up

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for a free newsletter like over seventy five thousand and

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FSA members have done already. Michael, we'll talk to you, sir.

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Speaker 1: Thanks for stopping by, Harry, thanks for having me, really

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appreciate it.

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Speaker 2: Thanks for listening to carry Lenz's Financial Survival Network, your

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solution to today's trying times. For the latest, go to

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Financial Survivalnetwork dot com. Financial Survival Network now more than

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ever