In today’s episode of The Art of Passive Income, Mark and Scott talk with Matt Miller, SSVBusiness.com
—a vending machine franchise, with a twist.
A conversation Matt had with a friend about gumball machine vending inspired him to invest in his own machines. Starting with candy and gumball machines, Matt soon became frustrated with the market downturn of ’07 and ’08 because there weren’t as many people frequenting his regular vending locations… then a knock came at his door. Local kids were selling merchandise for their school fundraiser and Matt thought there had to be a better way for these kids to raise money than knocking on the doors of strangers. That’s when School Spirit Vending was born — customized school stickers machines, placed in schools and part of the proceeds go back to the school’s fundraising campaigns.
Matt has taken vending beyond the gumball machine and has brought School Spirit Vending to the cutting edge of both the vending and school fundraising industries by combining these two ventures into one, then took it to the next level by franchising it. With franchises across the country, they are raising millions for the schools they serve.
I had 75 schools myself before I walked away from my full-time advertising career. I was working about five days a month to make an income that was in excess by several times what my full-time career income was.
Join us as Matt walks us through his business model, both on the vending and franchise sides. He delves deep into:
- Profit margins
- Start-up costs
Plus, find out everything you need to know to get started in his franchise.
Is Matt’s model a good source of passive income? Matt shows us some pretty impressive margins that suggest that it might be.