My First Million: #187 - How Vending Machines are Generating Millions, The Next Big Social App & Ghost Kitchens For Gifts

Hubspot Podcast Network Hubspot Podcast Network 5/28/21 - 4m - PDF Transcript

So I like these like big things off

for a company that can scale.

But when I heard him describing this,

I'm like, God, I want to get in on this.

Like, this is just so, like, you know what I mean?

Yeah.

I feel like I can rule the world.

I know I could be what I want to.

I put my all in it like no days off on a road.

Let's travel never looking back.

What's up?

Sean here.

We got Sam.

And today's episode, we're going to talk about a blue color

side hustle, AKA the hillbilly of the week,

which is a vending machine business.

And Sam breaks down all the numbers behind it.

We talk about this idea of creating

the edible arrangements of DoorDash through Ghost Kitchens.

We talk about the new hottest app in the app store,

the number one app, AKA is this the next Snapchat?

Is this the next clubhouse?

We don't know.

It's called Paparazzi.

And I tell a story around that.

And we talk about Vimeo, a business you probably heard of,

but may not realize that Vimeo is now a $8 billion business.

And then at the end, we shoot the shit with Abreu

and the new Abreu, Dan, and you get to meet him a little bit.

So that's the last, I don't know, 5, 10 minutes of the episode.

All right.

Great episode.

Enjoy.

We're recording now.

I put out that thing for merch designs.

And somebody had a great one that was, so the funny ones,

I thought, or somebody made a yada, yada, yada shirt

with your face on it.

I thought that was funny.

And then somebody made one that just goes,

it's both of our faces, it's both our faces,

like kind of illustrated.

And it just says, Abreu, are we good?

Really?

Which is what you say at the end of every episode.

Do I, really?

Yeah.

And then another guy.

So Sean, we're doing this meetup in Miami.

By the way, we're called out.

Calling it a meetup.

I feel like that undersells it, right?

Live show.

We're going on tour.

That sounds more badass than we're doing a meetup.

Well, yes, you're right.

But there's two things going on here.

The first, I was down playing it.

Because I frankly, I didn't know how

many people were going to show up.

So we set the limit originally at 400.

And then our venue now is changing.

And so we don't know how many is going to seat.

So we cap it now at 335.

That's how many RSVPs we have now.

So if more open up, we're going to open it up.

But I was doing it to make it so if I failed, it would be OK.

And also, when you talk about show,

I think you're pretty comfortable on stage.

And you actually aspire to be kind of a professional comedian.

I have no idea what we're actually going to talk about.

Me neither.

We haven't even said a word to each other about what

are we going to do there.

Yeah, so we'll figure it out.

But basically, the way it's working, and we agree to,

as per usual, we agree to stuff without thinking it through.

But basically, we have a thing in Austin at 6pm on Thursday.

That's probably going to end at 10pm.

And then we have a 7am flight.

And I think that flight is going to land at 12.30 in Miami.

And then these are the logistics people came to listen for.

Well, sorry.

But anyway, it's just we have a lot.

We're going to be running a million miles now.

You know what I thought would be a fun idea?

I just thought about it actually while I was putting my contacts in before this.

I go, what are we going to say on stage?

What would be a good live show?

Because I was like, either we just do research and we just have like a fire

episode where it's like great ideas, great Billy of the Week.

Machine-generated transcript that may contain inaccuracies.

There are entrepreneurs quietly generating six figures working part-time in the vending machine business. Others have been able to scale to multi-million and even multi-billion-dollar figures in the industry. Shaan (@ShaanVP) and Sam (@TheSamParr) break down the vending machine industry with tons of numbers and exactly how some are pulling it off. The guys transition from a "boring" business to high-tech ones as they break down how Vimeo went from a College Humor project to competing with YouTube and earning an $8b valuation. They also talk about a trendy new pod that generated 500k downloads on its first day and they brainstorm on a fun concept: ghost kitchens for gifts.
---------
* Want to be featured in a future episode? Drop your question/comment/criticism/love here: https://www.mfmpod.com/p/hotline/
* Support the pod by spreading the word, become a referrer here: https://refer.fm/million
* Have you joined our private Facebook group yet? Go to https://www.facebook.com/groups/ourfirstmillion and join thousands of other entrepreneurs and founders scheming up ideas.
---------
Show notes:
* (5:55) How Vimeo became an $8b company
* (14:26) The next big social app?
* (25:45) The millions to be made in vending machines
* (41:35) Ghost kitchens for gifts
* (53:00) Post-podcast free talk