Our Financials & Other KPIs: 3/13/22
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Our Financials & Other KPIs: 3/13/22
Every week we share exactly how much money we made from our vending machine business in Nashville, TN.
Welcome to this week’s edition of Our Financials & Other KPIs.
Through complete transparency, people are able to make the most informed decisions with their money. In efforts to stay transparent with you all about our vending business, we share our financials and other key performance indicators on a weekly basis.
Let’s break down every dollar we made this week!
Expected Read Time: 3 minutes
Our Vending Business — Financials
A detailed walk-through of how much money we made this week.
Total Number of Machines: Nine (9)
Total Revenue Generated: $1,240.35
Total Number of Snacks Sold: 932 snacks
Sour Patch Watermelon
Canada Dry Ginger Ale, 12 oz.
Andy Capp’s Hot Fries
Total Amount Spent on Buying the Snacks: ($607.85)
Merchant’s Mart — ($558.25)
Sam’s Club — ($49.60)
How Long it Took to Fill the Machines: ~6 hours
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Free Cash Flow Generated: $533.20
Free Cash Flow per Machine on Average: $59.24
Free Cash Flow After Factoring in Time Spent Filling Machines: $416.95
*assuming $15 / hour
Wins & Losses
Turns out running a vending machine business can be hard — these are our biggest challenges and victories from last week.
Wins —
Discovering Honeybuns — we observed someone purchasing a Honeybun from an adjacent vendor's machine and opted to give them a try ourselves. We tested them in a single machine and sold 22 in a 24 hour period.
After a long wait due to supply shortages we received a shipment of replacement parts for our machines. These parts (or the lack thereof) have prevented us from utilizing all of our drink slots in every single machine we own.
Losses —
Our vending machine in a girls dormitory was broken into. This caused an immediate loss of close to -$100 in cash that was in the machine, close to -$30 in product and approximately $152 in revenue. Unfortunately, when breaking into the machine the individual also broke the sliding mechanism that allows the door to open. We had to order replacement hardware, putting this machine completely out of commission until we are able to repair it.
What We’re Reading & Listening To
You’re obviously reading this post because you’re entrepreneurial minded, invest, or care about generating passive income. Us too — so, here’s what we read & listened to this week that taught us a thing or two.
Reading —
Detailed analysis of the cybersecurity warfare happening between Russia and the rest of the world — with 2 stock ideas.
Twitter thread (below) from Danny Strauss re: building a $2M portfolio in 8 years.
The most recent briefing from the Generalist — a walkthrough of AngelList, the world’s most popular way to raise seed funding for your startup.
Listening —
Michela Allocca walks us through “creating your signature money streams” on her Break Your Budget podcast.
Austin Hankwitz interviews the CEO of Betterment (the largest robo-advisor in the country — with more than $34 billion in assets under management) on his Rate of Return podcast.
Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
Our Financials & Other KPIs: 3/13/22
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