Our Financials & Other KPIs: 4/11/22
We bought another vending machine!
We bought another vending machine!
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.
As the title suggests, we bought a new vending machine to add to our business. We’re finishing up a post about the entire process now, and are planning for it to go live this week — so stay tuned.
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: Eight (8)
Total Revenue Generated: $1,157.20
Total Number of Snacks Sold: 844 snacks
Munchies Flamin’ Hot Snack Mix
Snapple Black Cherry Lemonade
Sour Patch Watermelon
Total Amount Spent on Buying the Snacks: ($718.70)
Sam’s Club — ($718.70)
How Long it Took to Fill the Machines: ~3 hours
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Free Cash Flow Generated: $438.50
Free Cash Flow per Machine on Average: $54.81
Free Cash Flow After Factoring in Time Spent Filling Machines: $393.50
*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 —
We locked in an agreement for a new location (detailed breakdown coming soon) and ordered an 11th vending machine!
Losses —
We’re still operating with two machines out of commission — specifically due to card reader issues and power outages.
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 —
My friend Abby Smith recently started a “walking club” in Washington DC called City Girls Who Walk DC! — to congratulate her, I sent her one of my favorite books: Get Together by Bailey Richardson, Kai Elmer Sotto, and Kevin Huynh. It’s an incredible book focused on building community.
Shopify announced a stock split, and Brian Feroldi shared an incredible illustration of the entire process in a Tweet below.
Speaking of Tweets, here’s a link to the Tweet shared by the CEO of Twitter stating that Elon Musk will not be joining their Board of Directors.
Listening —
Below is an incredible 13-minute documentary walking through exactly how the Vanderbilt family made (and lost) their fortune.
An incredible “clap back” by my friend Daniel Iles after Dave Ramsey told him his financial advice was horrible.
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.