Business idea · E-commerce
Vending Machine Smart Coolers for Apartment Complexes
Vending Machine Smart Coolers for Apartment Complexes is a vending machine business that installs smart coolers in apartment complexes, allowing residents to purchase snacks and drinks via a card swipe, enhancing convenience and accessibility. It was pitched on Koerner Office in the episode "How to build a 7 figure vending machine business by finding the best locations. Ep. #035" (aired July 4, 2024).
At a glance
| Podcast | Koerner Office |
|---|---|
| Hosted by | Chris Koerner |
| Episode | How to build a 7 figure vending machine business by finding the best locations. Ep. #035 |
| Aired | July 4, 2024 |
| Category | E-commerce |
| Real companies on the episode | Quinn Miller's Vending Machine Empire |
The problem it solves
Residents often lack access to convenient snack and drink options within their apartment buildings, leading to frustration and inconvenience. Traditional vending machines are often outdated, poorly stocked, or located far from living spaces, making them less appealing to potential users.
How it makes money
SaaS for management software, e-commerce for product sales.
Skills you need
Sales and marketing expertise, knowledge of vending machine logistics, customer service skills, and operational management.
The market, and why this works now
Smart coolers equipped with IoT technology allow for real-time inventory management and remote monitoring, making it easier to keep products stocked and fresh. A good first-revenue move could be listing the service on local community boards like Nextdoor, where apartment residents often discuss convenience needs. A key challenge is the initial capital required to purchase and install the coolers, which can be significant, along with the ongoing cost of maintaining inventory and technology.
Our analysis, written after the episode. Not a quote from the show.
Real companies discussed on this episode
- Quinn Miller's Vending Machine Empire
Quinn Miller runs a successful vending machine business that specializes in traditional snacks and drinks, as well as smart coolers and ATMs. He focuses on finding optimal locations for his vending machines, which has allowed him to generate significant revenue while minimizing his time on-site.
Where this idea came from
Podcast: Koerner Office, hosted by Chris Koerner
Episode: How to build a 7 figure vending machine business by finding the best locations. Ep. #035
Aired:
Summarized from the episode transcript. The show does not say which speaker raised each idea, so we credit the show, not a person.