A lot of times, all that stands between us and our biggest goals are ourselves and our own self-doubt. This was the case for Quinn Miller and as soon as he pushed himself to reach for the stars, he was able to do just that.
Miller spent the pre-pandemic part of his adult life working for an ad-tech startup in California, which provided him with $240,000 each year. However, as the coronavirus pandemic forced the world into lockdown in March 2020, he found himself in a tough spot. Suddenly, no matter how many hours he put in, he struggled to make it by.
Then, inspiration hit. “That spring, I read on Twitter about someone making passive income by placing vending machines in office buildings. It immediately piqued my interest.” he writes for CNBC.
“So in June and July, I purchased two machines for $5,000 to get a side hustle going. Things were slow at first, but I was hopeful that I could scale the business. I quit my day job that summer to focus all my time and energy on it.”
Thankfully, his hard work paid off. He now has 57 vending machines scattered across his hometown, which provides him with an average of $30,000 per month. The main thing he says was that he did have to invest his profits continually back into his business. Over the past two years, he has spent around $160,000 on machines. The plus side?
“I have a positive cash flow and no debt. I only have to work six hours a week on vending machine operations. I can spend the rest of my time on other projects, like my online coaching business and trying to land new machine locations.”
For those interested in following suit, he offers these five tips:
1. Land in a busy location.
2. Buy a quality machine.
3. Buy a credit card reader.
4. Pay to have the machine moved.
5. Buy from wholesale stores.