episode 0042- building a $50k/mo vending machine business while working a full-time job with mr. passive mike hoffmann

Passive income is all the rage. While many are looking for cashflow from real estate, Mike Hoffmann took a different angle. He bought his first vending machine in 2019 and struck a passive income gold mine. He has since grown this into 50+ machines that gross $50K+ every month, has left the 9-to-5, and now coaches others to follow in his footsteps.

Whether you're looking for inspiration to get off your job, or just a side hustle to help offset some monthly expenses, have a listen to Mike's story in this episode, and discover if perhaps a vending machine side hustle is just what you've been looking for.

Show Highlights:
1- Your discount code to Mike’s Vendingpreneurs community. (4:10)
2- Mike gives the backstory to getting this vending machine business off the ground, including the story of placing his first machine. (9:15)
3- We discuss deciding on items with which to stock the machines. (13:40)
4- What were the steps to scaling this into something much larger? (17:15)
5- How often do you stock the machines when you’re getting started? (22:00)
6- How and when did you start hiring others to stock machines for you? (24:05)
7- What goes into purchasing a route, upgrading routes, and the convenience of modern machines. (27:00)
8- Where are you sourcing products to fill the machines? (37:20)
9- How often do machines break and need serviced? (41:20)
10- How did you develop your Vendingpreneurs educational community? (43:50)
11- At what point did vending machines and your coaching business become your full time gig? (51:20)
12- How do you get started in vending machines today, and where can we learn more about you? (53:00)
13- Listener question: With what products would you stock your ideal vending machine? (56:50)

Books Mentioned:
Buy Back Your Time by Dan Martell

Check out Mike’s Vendingpreneurs community, mention Witness Business, and get 5% off all of his offerings!

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Follow Mike on Instagram: @mikehoffmannofficial

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