EP43: Building a Vending Machine Empire
w/ Matt Miller
My guest today is Matt Miller, Founder and President of School Spirit Vending, a vending machine company that helps schools fundraise internally rather than asking children to go door to door.
In today’s episode, we discuss:
- What it felt like to be so poor that he was declined for a payday loan.
- How $100 opened the door to a million dollar business
- The importance of homeschooling and how parents are an essential (and often missing) ingredient to help children understand entrepreneurship and basic business skills.
- How you can quickly get started building your own vending machine empire
Matt was concerned with the current fundraising model of selling magazines and popcorn and decided to do something about it. His idea was to create a vending machine business to literally keep the kids off the streets, but still allow schools a way to fundraise.
Matt was a corporate guy and his parents taught him to go to school, get a job and work a 9-5 so that he can retire. Like many of us, this quickly seemed unfulfilling. He dreamed of being his own boss and could no longer stand the idea of selling his time to someone else. He HAD to become his own boss. When Matt lost his job, he was in a very difficult financial position. He had a wife and several children to support, but very little means to do so. Collecting aluminium cans only went so far.
One day, in church, Matt was chatting with a friend who had recently bought a few simple gumball machine. Matt was surprised to hear that these gumball machines were actually generating noticeable revenue. Quarters can still add up quite substantially and he had to know more. After a few weeks of scouting the Internet to learn as much as possible, he and his daughters jumped in the car to purchase a single gumball machine for $100. This was the start of Matt’s appreciation and love for vending machines which is now his passion and business.
He went from being broke (and not being eligible for a payday loan) to franchising a vending machine company and helping entrepreneurs and schools all over the nation learn how to generate wealth. Join us to hear more about Matt’s journey and why vending machines may be a good opportunity for you to build the lifestyle that you desire and deserve.
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