Millionaire University How to Start and Grow a Vending Machine Business With Little to No Money With Mike Hoffman (MU Classic)
May 19, 2025
Mike Hoffman, founder of mrpassive.com, shares his fascinating journey from sports science and real estate to the world of vending machines. He reveals how managing 25 machines generates impressive monthly profits. Discussion highlights include initial low investment strategies, optimal locations for high income, and the importance of technology in evolving the vending landscape. Mike emphasizes the potential for disruption in this industry and offers practical tips on scaling operations and managing logistics, making it an enticing path for aspiring entrepreneurs.
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Mike's Shift to Vending
- Mike Hoffman transitioned from a $1,200 a month sports science job to vending machines after noticing high markups on airport water bottles.
- Inspired by a Wall Street Journal article about a vending operator making $20K/month working 15 hours weekly, he explored vending as a passive income stream.
Choose High-Traffic Locations
- Prioritize locations with high foot traffic like apartment complexes with 100+ units and businesses with 100+ employees.
- Evaluate parking lot fullness as an indicator and approach managers directly to land vending contracts.
Focus on Location Acquisition
- Focus 80% of your efforts on finding new vending locations by popping into businesses in person.
- Use revenue sharing as a win-win to incentivize property managers to install vending machines at their locations.