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Bringing It All Together & Bonuses

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Final Summary & Next Steps

Final Summary & Next Steps

Mike Hoffmann

Vending Machine Expert

Master the art of scaling your business with a structured execution rhythm to maintain momentum and achieve sustainable growth.

The Full Reveal: Living From Your Whole Self

Mike closes the course by stitching everything together into one coherent operating system. This is about turning knowledge into repeatable execution.

Avoiding Drift and Rework

To stay on track, Mike warns against two killers: drift and rework.

He recommends protecting critical metrics and dates in your calendar.

His one-page journey covers setup to scale, anchoring the 90-day success plan.

The 4-Phase Execution Blueprint

Phase 1: Form the Business

File your LLC, get your EIN, open a bank account, and line up insurance.

You should be contract-ready within 7–10 days.

Phase 2: Pick the Machine Stack

Go cashless with telemetry as non-negotiable.

Choose your hardware and secure financing within 1–2 weeks.

Phase 3: Land the Location

Use an amenity-first pitch and offer a 30–60 day mutual-out contract.

Aim to get your first contract signed and install scheduled in 30–45 days.

Phase 4: Scale the Operation

Hire an operator, automate ordering, and ask every property for sister site referrals.

Hold the scoreboard: $90+/day/unit, 50–60% gross margin, and <3% shrink.

Operating Targets & Setup Essentials

The benchmark: $90+/day/unit, 50–60% margin, <3% shrink.

Set up P&L tracking via Wave or QuickBooks, and issue COIs quickly.

Bundle W9, COI, scope template, and temp logs into a compliance pack.

Hardware Matching & Site Risk Strategy

Low-theft indoor sites can use open markets.

Higher-risk areas require locked smart coolers or outdoor-rated rugged units.

Fresh or frozen goods? Add a freezer with temp logs and card access.

Financing & Security Layers

Budget 10–12% for merchant/platform fees.

Use financing plans with 0–10% down over 36–60 months.

Layer in kiosk cams, signage, room cams, and abandoned cart reports.

Pitching Like a Pro

Sell the amenity—24/7 access, no cost, safe, managed service—not vending.

Offer clean branding: headers, neat cables, signage.

Set clear terms—30–60 day mutual-out, 0–10% revenue share based on site type.

Service Standards & Install Execution

Promise 98% uptime, 24-hour SLA, and monthly reporting.

At install: test power/network, align cameras, check ADA clearance, anchor, photograph.

Professionalism during install drives referrals and credibility.

Operator System & Product Flywheel

Hire gig-friendly staff at $20–$25/hr + KPI bonuses.

Operators manage 12–14 units using telemetry and 15-minute fill windows.

Use weekly SKU reports to optimize, rotate fresh, and lock down on shrink.

Controls, Referrals & Expansion Triggers

Maintain FIFO, date logs, cycle counts, and shrink reports.

Shrink >3%? Lock doors. Ask for referrals at install, offer $500–$2,000 bonuses.

Revive cold leads with install photos and sales proof.

The Scoreboard That Drives Scale

Stay visible with daily targets: $90+/unit, 50–60% gross, <3% shrink.

Keep service tickets <1/month and use metrics to drive decisions.

When this rhythm is locked in, scaling becomes math—not a gamble.

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Complete the following exercises:

1. Reflect on the four phases of business development explained in this material. Consider how each phase applies to your current or future business plans. What specific actions will you take to ensure you meet the critical milestones within the suggested timelines?

2. Imagine you are preparing to pitch your business to a property manager. Develop a short script highlighting the amenity value of your proposal. Focus on how your approach not only meets their needs but also exceeds expectations with innovative solutions.

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QUIZ

1. What is a critical element of Phase 2 in the business development process?

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Leave your comments and questions below.

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Join Vendingpreneurs

Join live weekly calls with me & coaches with $1M+/mo vending experience. We'll handhold you through your first vending business.

Join Vendingpreneurs

Join live weekly calls with me & coaches with $1M+/mo vending experience. We'll handhold you through your first vending business.

Join Vendingpreneurs

Join live weekly calls with me & coaches with $1M+/mo vending experience. We'll handhold you through your first vending business.