Michael's Vending Machines Dreams Are Coming True
Looking for a source of additional income that doesn't require too much of an investment of either time or money? We've got you covered! Today we chat with iKrave Vending’s founder Lakinya Francis, who discovered an opportunity to start-up a small vending machine service company. Though the initial start-up cost was reasonably affordable and her efforts took no time away from her full-time work, Lakinya found that finding high-quality equipment that wouldn’t break the bank and then obtaining locations in which to place her machines proved to be a challenge. However, her tenacity finally paid off after months of searching for a used machine that met her expectations and she was able to soon start enjoying the profits after placing her vending machine in a local mechanic’s shop. Don't miss this one - we love the hustle and this conversation!!
Show Notes:
Follow on IG @ ikravevending for tips or visit ikravevending.com
Lakinya Francis
Fri, 2/5 8:49AM • 35:15
SUMMARY KEYWORDS
machine, vending machine, people, vending, business, buy, location, sell, crave, started, dog, products, supplier, money, crazy, age verification, pay, supplies, nice, instagram
SPEAKERS
Erin, Michael Benatar
00:01
All right.
Erin 00:03
Welcome to call me crazy. Today we have on leukemia, Francis and She's the founder of I crave, which is actually a vending machine company. This is a business we're so interested in. So welcome to our show. We're stoked to have you.
00:18
Alright, thank you guys for having me. And um, I'm excited to talk about vending machines is actually quite fun.
Michael Benatar 00:25
Yeah, so aren't so I've heard I heard a little bit about this from like this other podcast I listened to they were just talking about the business of vending machines. There's, I'm curious. How did you get into it? And how, how are you operating it? Because I think it's very interesting business that a lot of people don't think about because they're just, you see, see him all over the place somebody got on him.
00:48
Exactly. So So here's the thing, right. I'm from Miami, Miami, Florida. And I
Michael Benatar 00:56
Tampa. I used to live in Tampa. He
01:00
graduated from USF.
Michael Benatar 01:01
Oh, nice. I lived in South Tampa, he would go mc dentons all the time.
01:04
Okay. All right. How about but, um, yeah, so so I'm from Miami, and I actually have a day job employed with with the state of whatever. And so I was saying to myself a few years ago, like, okay, I wanna I want to start a side hustle, something that's realistic, I don't have to sell my soul to get started. And it's like, actually achievable. So I just started researching a lot of different things. And I actually came across vending, and I was like, Huh, this is interesting, but I thought like, only big time companies can start vending. So I started doing Google searches and YouTube, you know, videos, and just watch it and, and, and there was not as much information out there as it was as it is today. So I kinda just, you know, kept doing my research. And then one day, I just woke up, literally, and I just bought a set of machines. And I was like, okay, I've read all I'm gonna read, I've researched all I'm gonna research at this point, I gotta try it out. So I literally did that. And I moved them in my garage, and I went from there. And a lot of trial and error, a lot of trial and error. And, and so yeah, so that's how I got started with it. Now, vending is semi passive. So notice I said, I have a regular job. So I like this business model, because it's set up to do stuff part time. So if you have you know, if you're already an entrepreneur, you already have a business. Or you're you have a nine to five, your mom, your dad, you got kids, you know, whatever, you got responsibilities, this is designed to be able to do it whenever and fit your schedule. So anybody can do it. Honestly.
Michael Benatar 02:56
I love the hustle. I mean, just jumping in, like, I'm gonna buy it. I did the research. So what happens? Where did you buy it? First of all, because I know like, there's some used ones, maybe you could buy? Are you gonna buy a new one and have a vending machine?
03:11
So So I got some use? I got some use machines, I got a snack and a drink machine. Yeah. And, um,
Michael Benatar 03:22
so what did the first one run you like that use machine just
03:26
actually. Okay, so the seller wanted 1200 for both. And I told him, Hey, I only have $1,000. And, yep. And it went for you know, and I and that was it, you know, and I will say this, the market is different depending on where you are. So I'm in Miami, you can get anything here. I know, another market that is very similar to here, as far as they use machines is LA, where the machines are, you know, in comparable with pricing. But you can go to some areas like New York a little bit more expensive. Same machines and stuff is just that, you know, just the market there and people are selling for a little bit more.
Michael Benatar 04:05
And once you get the machine, okay, so we got the machine, it's in your garage, you got two of them? How do you figure out what you're gonna put inside? And then how do you figure out the location of the machine? Do you have to buy the location of the machine? Or can you just plop it anywhere?
04:18
So So the thing to think about that right? And this is something that I didn't quite get upfront, I'm like, man, okay, I got this, this is gonna be easy to get on. I gotta do is tell him, you know, go and walk into a few businesses and tell him how this machine is free for you. And I put it in there. And that was very difficult. It that's the hardest part of the businesses. That's the that's the hardest part of the business. It's the it's the part that people you know, they get intimidated by and they say all forget this, you know, and I'm you know, I'm done. So, I actually, first I first I use a service, so that's another thing that you can do. So you can either do one or two things. You can Go out there and get a location on your own, which I recommend. It's not, you know, a bad thing actually is the best method. Or there's what they call locators that will do it for you. But of course, it will feed to another expense. And you know, why not get out there and hustle for you? You know? And so that's pretty much what you do. And then you, you figure out what type of product you want to buy, what type of what do you want to sell in a machine, you want to sell snacks, you want to sell, you know, whatever, you can put anything inside of
Michael Benatar 05:33
you? Are you just buying all the products wholesale and filling them? Not like a wild crazy thing. It's like you're just getting this wholesale?
05:41
Yeah. You just buy your product wholesale. You determine, of course, like, Okay, what what I want to sell her and and you feel your machine up, and you kind of monitor it, you know, I'd say, depending on how busy your location is. So maybe once a week, once every once every other week, you'd go reload up, you know, stock up again, fill up your machine, collect your money, and it's in a cycle, you know,
Erin 06:09
going back to the place, the places you place, the machines that require portion of sales, or no, they're just happy to have the machine for their guests. So
06:18
So it's, it's the way you approach them in action. So one thing I do when I'm coaching people, I tell them how to go and approach the company, and really need to highlight the benefits of having this free burden this free machine, you don't have to do anything. But you do encounter some locations that are that will say, Hey, what's in it for me, you know, what cut, do I get? Snacks, just but but but then you have some locations that really do see the benefit, like hey, you know what, I got this machine, my employees can you know, use it whenever they want. I don't have to do anything, I don't have to provide the machine, I don't have to go buy stuff to put in it. That's their business. So that's a total convenience. So it's really the way you approach the location, but some do some will accept
Erin 07:08
and when do you say no way? Or would you consider it if you knew it was?
07:13
So depending on the location, of course, you're going to go ahead and say hey, you know, okay, I can I can give you 10%?
Michael Benatar 07:22
Can you get into like Disney World? Like how do you get into those places? Or like,
07:27
Listen. And that's another thing when people are first starting out, I'm telling them like, hey, let's let's not go for, you know the airport. Yeah, right getting in certain places like that, like an airport. Depending on how big it is. You might have to go through a bidding may not just be so simple. on Disney World. Oh my god, they probably have a contract with some big company like Coke or, or something on getting in the mall is not as difficult as it may seem. Because you got to think about a mall is real estate, right? So their job is to fill the space. You know, you don't have there's no convincing there. They want people to come in and set up a business. I don't care if it fails, or you don't want me because you're the money. Yeah, you're paying me. It's different. It's a little bit easier to get inside of a mall than it is inside of somebody's actual business.
Michael Benatar 08:18
And what what is I mean, you don't have to give us like real numbers. But like on average, what is one machine? Kind of net a week or a month? Or? What's the business model that like, how many do you need to wear, it's like, I'm just fully passive vending machines like I don't, I'm just collecting money every day
08:35
just collecting money. So one, I will say it's semi passive, because you still got to go shopping and put the stuff in there later. Find somebody to do it. So I just wanted to say that. But But still the machine I tell people all the time your vending machine is your employee, okay, and they're working for you. And you don't have to be there when somebody buy a certain product, you just need to go and collect your money and fill it back up. And so it is semi passive, but a machine a traditional snack or drink machine, yeah, you'll probably make about 450 to $500 a month. Now there are some locations that make way more than that depending on the foot traffic. So that's the clue. That's the thing with with with the location, you want to make sure that the location is has a lot of foot traffic. There's either a lot of employees or a lot of people going in out of in and out of the business. Okay, so if it's some type of business where it's just, you know, five office people and they don't have any other interaction that's not a good spot.
Michael Benatar 09:40
What kind of what kind of like vending machine did like there's so many different ones like I've seen the summit airport where like Best Buy has like I can buy air pods at a vending machine.
09:50
Yeah, well, how
Michael Benatar 09:51
many different tiers of vending machines are there now? Because are they like, Can Some are vending machines considered where you can like make a coffee? like is that a vending machine? So, so many
10:02
is so many different kinds. And it's so interesting, right? So let me tell you the most the most, the most that I'm helping others with this is traditional snacks and drinks. But another thing that really took off for me was the beauty vending machines, the beauty supplies. So beauty supplies, like anything, you're going to hair store and buy, you know, eyelashes, hair extensions, you know, makeup or lipstick or, you know, brushes, combs, you know, do rags or satin caps, or just all sorts of stuff, maybe even accessories. That is because that is becoming very, very popular. And those machines are making some good money, you can have one of those in average, like two grand a month. Wow,
Erin 10:43
any products are
10:44
so much more. Yeah, because I mean in in, you know, the hair industry is a billion dollar industry by now, that's just one thing. I actually have somebody that I'm working with right now. And this is something that I had started to build like information and courses and stuff, but I kind of backed off a little bit about a year ago. But now this is this is going to give me the urge to go again. She's actually she's in Michigan, and she's getting ready to do a CBD vending machine. And she's in a cycling place where you work out and stuff like that.
Michael Benatar 11:22
Oh, nice, like a spin like a bike, like a peloton or whatever, something like that.
11:27
Yep. And so, you know, I actually was talking to her today and you know, the machine is going to be brand new, it's gonna have to ID age verification, we're like,
Michael Benatar 11:36
nice.
11:36
Yeah. I mean, what with all the bells and whistles, I'm like, but but and that's another thing with vending some stuff that you know, the investment is different, like, drinks. I mean, you know, that's the, one of the easiest ones to get started with. You know, you're talking about beauty supplies. Okay, you're talking about a little bit more for your product. CBD a lot bit more for your product. But she's gonna make probably, you know, she's gonna make a ton.
Michael Benatar 12:06
Um, yeah. And so that I mean, that's interesting, because we actually, we talked about it, there's like a location near us, that has a lot of foot traffic, but doesn't have a lot of real estate. We're like, oh, Vinnie, because I've been talking about it for a while. So I was really excited. I was like, This is such an interesting idea. Because that passive income, you can put whatever you want in it, whatever kind of service, whatever community or whatever part of like, you know, we live somewhere where you can only get a few things walking, but imagine you pop this up next to the coffee shop or something like that.
12:39
Your seniors, there's coffee, vending machines, their laundry supply vending machines, I've been helping people with those I've been, and that's another thing I do to your people are ideas like, Hey, you know, what about toiletries, you know, I had a girl that called me one day, and she's a business, a successful business owner already. I get a lot of people like that. And she's like, Hey, you know, I spent a lot of time in hotels. And I went to the hotel one time, you know, and it was like, TMI, but she was like, I wanted to get some condoms, and they didn't have them. And then I was like, What the heck. And she was like, I came up with the idea that I want to get a vending machine that has all these different things in there. And I was like, Oh, I have the perfect supplier for you. They sell, you know, condoms, they sell toothbrush, toothpaste, you know, Advil, Pepto bismol. You know, man, little laundry packets, I mean, just all kinds of toiletries that I'm playing cards, and it's specific for vending machines. You don't need to go and find packaging. That's that's what they do. They sell these things for vending machines. So it's amazing the stuff that you really can, you know, put in there any anybody can turn anything that they're passionate about, or whatever their their likes or hobbies are in, you know, pretty much turning into a vending machine business
Michael Benatar 13:58
and have you have you changed, kind of not not your business model, because obviously you have vending machines, but I crave vending calm. Are you now kind of coaching and guiding people on how to get into this business?
14:10
Yeah, and it's so crazy, right? Because when I first started, it was just like, Okay, I need I need I want extra money. I want to start a side hustle. But I wanted something to do. Like I was feeling like, okay, I go to work nine to five and, you know, I'm not doing enough with my life. So I got started with that. And okay, that gave me something to do on the weekends. Of course, people started asking, how do you do that? And I'm like, you want people want to know this? I really thought that and that has taken over right now. So right now, I have someone helping me with the few machines that I do have because I'm so busy with coaching and you know, consulting with people and I enjoyed a lot like helping them through every step of the process, but I am going to actually get back into a different type of vending actually this summer. This one is pretty cool. Again, like I said, I'm in Miami, right? So we're surrounded by water. And my brother, he's a fisherman. He's an avid fisherman and goes down to Key West Florida. I'm not sure. Have you heard of Key West Florida?
Michael Benatar 15:13
So, you've never been there. But I've been there a few times, you know, a few cruise ships. There, you know,
15:18
go down there is you know, you don't have water. It's a tourist spot. But you know, people go down there fishing. He's like, hey, when I go fishing overnight, if I don't have all of my supplies, I have to turn around and everything closes so early down there like 10 o'clock. And he was like, Ah, so we're getting ready to get us a live Bait and Tackle vending machine. And that's great. That's
Michael Benatar 15:43
definitely gonna hit you after this podcast. Like, I'm gonna email you. I want to do a vending machine over here because I you know, I've, I've mentioned it a few times do you like,
15:54
oh, thoughtfully what you might want to?
Michael Benatar 15:57
I mean, it was it was all about like, so you know, we sell dog products. We have CBD dog products. So he was around kind of the dog vending machine where we live, there's a lot of people walking their dog. poop bags, maybe sell some treats, maybe so because there's no way you can walk to go get it. So I feel like that would be easy. We have all these connects in wholesale in the dog world. Oh, man, pop it in.
16:18
I'm just thinking like, that's gonna be awesome for you guys. I'm actually the supplier that in our start network and so much so now I'm kind of partnered with the largest supplier in the US and they actually do the pet supply Venom's. Wow. Yeah. So even if you guys have and I'll hook you up with everything with all the info. So let's say you guys have your your brand or whatever wrap wrap your machine with it. So you can keep a brand new. Yeah. Put it in that that area. So you know, I don't know if you guys are, you know, apartment community dog park. You know, that was my question.
Michael Benatar 16:57
What is the like, Alright, we're in LA. I'm sure this happens in Miami too. But like, people like the tag stuff, people like the damage things just for fun, you know, kids running around? How has that has that ever affected any of your machines? And are there like weatherproof machines where I can just like, leave it outside? A little bit?
17:14
Yeah, yeah. You can in so. So here's the thing. Now, when you're talking about, hey, I want to leave the machine outside, I'm going to say we're going to get with the supplier and make sure that the machine is good for indoor or outdoor. Okay, what as far as the theft and stuff like that, um, here's the thing, man, you know, you can't, you can't let that make you scared to get out there. I mean, but there are some things that you can do. For example, I had a client she's in like DC, and in a location was actually really nice. They were like, hey, if you put this soda machine outside of it was like an auto body shop, we put it on the outside, you'll get more people to use it. And you know, they were trying to help her. So what she did was she went on eBay and bought some brackets. And you know, just drilled them in, and you can't do anything with that machine. It's an option.
Michael Benatar 18:07
I remember when I was in high school, I used to my hand into the machine, and go, I don't know if they have those machines around anymore, but I would do it all the time.
18:17
Now, I will say maybe some of them
Michael Benatar 18:23
was when you were like, I don't know, if you remember when you were in high school and you like would walk around, like, I don't have $1. But I definitely can squeeze my hand up into this machine and grab a soda.
18:32
I know what you mean. But the older machines, the older machines are, you know, people still hack them or whatever. But a lot of these newer machines that like for example, if you guys were gonna sell dog products, yeah, I'm gonna be honest, don't get an old $500 machine get a new machine with a credit card reader warranty, less problems, it's, it looks better, you know, it's much more inviting, it's gonna be
Michael Benatar 19:00
a political machine. Do you have to go collect? Or is it just auto train auto wired in there with a terminal or something.
19:07
So what happens is, if you buy independence, if you buy the machine brand new, and it comes with a credit card reader, there is a setup process to set up process is it'll already be on there. So you'll just need to call the company that for example, like nextera they're one of the most popular credit card suppliers and you would call them set the machine up. And you do have to pay like a little monthly fee like 12 bucks for the router, and you're in it, you connect your bank information. And and so that's how, you know when people use it. That's how they get the signal and you get paid that way. And it's good because you get to kind of track your inventory that way. Oh, yes.
Michael Benatar 19:52
It's a lot easier.
19:53
Yeah. So if you like okay, I put 100 pieces of product in there on Monday and it's Thursday, and I have I have 40 left or so I'm probably going to need to go a restock because I might not make it through the week, you know. So
Michael Benatar 20:09
I was just thinking, I remember the old machines where I remember my friends would like, get a quarter and like, tie something to it or sticks on me and like put it in and to be able to pull it out or like put $1 and then pull it out really fast. And it would sometimes think the dollar went in. I don't know, this was in high school. The machines are just sitting around when you're at lunch, you know, like, what are we gonna do? Like, oh, let's see if we can get some free stuff out of it.
20:31
But you know what? I'm, like I said things have really changed a lot.
Michael Benatar 20:36
No, yeah, no, I'm saying this is like I was in high school in 2005. So like, clearly, things have changed a little bit.
20:44
I think we're up with each other. I graduated in Oh, five.
Michael Benatar 20:46
Oh, nice. All right. Yeah. So I graduated with five. So machines were little like little dumb back and I'm playing the machine. Now. Let's be so smart. Because on it, you have all that stuff. And
20:57
these machines nowadays are too smart. I mean, look, I the age verification.
Michael Benatar 21:07
is kind of the next thing for you. Do you want to keep pushing out these vending machines? Or do you are you trying to keep it local? Because you still have to refill your code? No, I know, they're gonna mean.
21:18
Yeah, well, um, for me, I think that I got my kick out of it. Honestly, I'm being honest, you know, I think I got my kid, I really enjoy this helping you. It's like, so rewarding man. I get to help, you know, parents and help start their kids businesses, people that have ideas. And, and I really walk people through the process is really personal. So it's not like Oh, go listen to this course and go at it. You know, I I'm working with the person one on one, helping them find machines. And so I'm really into that right now. And then I'm starting a coffee a Coffee Company. So I think I think I think I'm gonna ask her I get this, like, candy,
Michael Benatar 22:06
or coffee, or real coffee got like a
22:08
coffee, just coffee that you drink? Okay. Yes.
Erin 22:12
How did you first start monetizing the? Or how do you plan on monetizing the consulting? Because clearly, there's a need, like we're super into it. I know you have your website like how to do that, how are you going to scale that or it seems like you love coaching. I'm just curious, like how you work with your clients. And so,
22:29
so right now, I've been doing this, let me show you how for about a year now. And, and I'll be honest with you, I've grown, you know, my clientele through social media, Instagram, specifically, that's great. And it's crazy, because every day, every day, somebody is purchasing somebody's booking every single day, you know, and this is all coming from Instagram.
Erin 22:53
And they're booking like a consulting meeting with you via
22:55
so I have different options I have, some people just want a call. So I have in my in my, my bio, of course, with my link tree, I have my calendar. So I have my calendar set up with my availability. And I kind of give them a little you know, thing of what we're going to talk about. And once I call them, we go through the entire process, I get to know them because everybody's different. Some people have no clue about business. Some people are already entrepreneurs, and they tell me Hey, I don't need you to tell me how to set up a business. I just know some people just need the machine. And I helped me with that. Yeah, it just depends. And I do follow up, you know, to see where they are see what they need, kind of give them a goal a plan, like hey, do you need to do now? 123? Um, how am I going to grow from that right now? It's, it's It is okay. It's not too much. Um, I haven't really, you know, I don't know how much more I'm gonna grow at the moment because I am still with my nine to five.
Michael Benatar 24:04
Yeah. What point at what is it? $1 amount you're like, once I make this with vending and consulting, I'm out of my job or is your job your day job really good. It's like I'm gonna stay because benefits are right here.
24:18
Now benefits are great. The government job,
Michael Benatar 24:23
so yeah, so you get like days off all the time.
24:25
Yeah, I mean, it's nine to five and get you know, retirement. best insurance best. Really, it's, it's, um, I thought I've been thinking about that More more recently.
Michael Benatar 24:39
I mean, that sounds great. Like the working for the government. I feel like is always the best job like,
24:43
yeah,
Michael Benatar 24:44
there's national holidays all the time. People are never working or like government workers, like half days off, like I love it, and a whole bunch of benefits.
24:52
And so yeah, and so it's really, for me, it's not about you know, it is about the money but it's like I don't want to, I don't know, I've been thinking about it lately. I'm like, man, if if I leave my job, I can leave, you know, I can't leave my job. But um, but then my wife, right, she's a nurse. And so her income is like crazy. So, you know, it's not the money is Yeah, depends on my benefits too. So it's like, it's true. Yeah,
Michael Benatar 25:22
you know, hey, you could, you could probably always hire somebody to start running some of your games
25:29
that I've learned. Well, I actually have somebody helping me with that already. Oh, cuz, you know, I don't really leave the house. Much. Everything I'm doing is online. And I love it. Yeah.
Michael Benatar 25:40
I'm so excited. I'm so excited.
25:44
But yeah, yeah. So I don't I don't you know, I don't have to, I don't have to leave my house much. And I get to do a lot of stuff online like this. On the phone, answering emails and whatever. So it's, it's cool, whatever. Yeah. But I don't know, I've been thinking about it. I've been thinking about it so much like, Hey, man, am I gonna stop working? At what point Am I going to stop working? You know?
Michael Benatar 26:09
But I mean, what are you doing now is like, what people dream, if you got a nine to five, you also have this passive income. People are wanting to know more information about your vending machine. I mean, the this is, this is the dream, right? Like, you could just continue on and then just making all this extra money.
26:26
Yeah, I think I think for now, this is what I'm gonna do, because I'm able to control it to now. Not everybody talks to me, some people go on my website, and they bought a package where they go and listen to, you know, the, the courses, and, you know, they get their ebooks, their proposals, I have contracts and stuff that I've created for people, some people don't talk to me, and I can control my schedule, and you know, make myself available. And if it gets overwhelming, you know, I can scale back a little bit, so I'm able to control it. And that's what I do. Now, sometimes when I'm like, Oh, my God, this is too much. I'll, you know, block off my schedule, leave it open. So it's working for me right now. You know, it's kind
Erin 27:06
of it's really, really cool. You built this whole consulting business on Instagram, and it's like, now it's becoming too much to handle almost. And you have to reel it in that people try so hard to get enough clients. So that's awesome. And for everyone who's wondering about how they can do machines, I crave vending, which.
27:24
Yes, absolutely. Yep. And, you know, come check us out every day, I am always posting up tips and just little things. And you know, if you want to just follow and stick around and see what's going on, if you have any question
Erin 27:38
fisherman vending machine.
Michael Benatar 27:40
Before we go, I wanted to ask, like, if somebody's getting into vending machine, maybe like myself, like the three things you're trying, like, are very important to remember, when you get into it, you know, whatever, those three things are, you know, is it the location? Or is it like what vending machines are?
27:55
So So one thing I will say, and I'm learning this from experience, there's something else that goes on. people sell routes, what I mean by that, let's say I had a machine already in a business. And I go post it on, you know, offer Craigslist, whatever. And I'm saying, Hey, I'm selling the business, I'm selling my, my route, I have two machines on location already. Pay me three grand, um, it's making, you know, $100 a week, whatever. And that's normal. That I tell people be careful with that. Because if it's so good, why are they selling it?
Michael Benatar 28:32
Yeah, that's under weird to me right away? Why would you sell it?
28:36
But you'd be surprised. That's like, one of the biggest things that people you know, they want to get into business, and they're like, Oh, my God, you know, you know, I can just find a route and some people you know, they do retire and they move on. But you got to be careful with that. So that's one thing I would tell people be be very mindful of buying route, you know, build your own route. Um, the next thing is, do your homework on your location. So that's another thing I really help people evaluate the location, because if you're not looking into it, you might be moving your machine in a spot that's dead. And then you're not gonna make any money and you're gonna be like, Oh, man, you know, you know, I
Michael Benatar 29:14
gotta move. foot traffic. People need to be there for you to make money. Yeah.
29:18
So you can't just say, Oh, they want a machine. Cool. I'm putting it in there. You need to kind of ask questions, do some random drop bys. Just see, you know, what's going on? I'm
Michael Benatar 29:30
trying to get some traffic going.
29:32
Yep. And then another thing that I will say, and I've learned this just myself, sometimes you get what you pay for cheapest. not always the best. If you buy a really cheap machine not saying that you can't get a deal. There's some people that have gotten really good deals because people are just like, I just I just want to get rid of the machine. But um, if you're looking for the cheapest machine out there, you got to be careful because if it's too old, it won't be compatible with the credit card reader,
Michael Benatar 30:01
I'll be able to stick my hand up into it. Yeah.
30:06
You know, you, you pay for what you get? Yeah. No, don't always try to you know, go for the cheapest thing out there.
Michael Benatar 30:12
And I just another random question I thought about, can you set the price to whatever you want because I know when I go to like Disneyworld, or my you know, I play ice hockey, like when I go there like, oh, power, it's five bucks, but I know. Yeah.
30:26
Yeah, no, you can you can, you can change the price. And, and that's usually simple like in the inside of the machine. It's a control panel, and it tells you down, you know, whatever. Yeah, you can change the price. Most machines go anywhere from zero to $100 on one row. So, you know, what,
Michael Benatar 30:44
what are your average like margins on some of the items inside the machine?
30:50
So let's say I'm gonna
Michael Benatar 30:55
do a Butterfinger. I don't know if you saw her.
30:57
Yeah. Now those are expensive, right? is very expensive. You're gonna pay? You know, like 6070 cent. You're gonna pay? Yeah.
Michael Benatar 31:08
What a better be the one of the king sized bars.
31:11
Yeah, if you're going to wholesale his ex ex ex expensive for chocolate. Um,
Michael Benatar 31:16
so what are you trying to look at margin wise? Like, what do you want? Ideally, often?
31:22
Two or three times of what you pay for it? That's, that's what I tell people in another thing is location. Demographics. That's another thing that people don't think about. You know, you ever went somewhere and you saw Oh, man, this is only $1. Yeah, you ever went somewhere you like 50 cent? Oh, no. That's because of the area Hey, areas, you know, you can charge more you can
Michael Benatar 31:45
do remember i mean is Albertson still around and Florida. out there. I remember. Like a public competitor, you know.
31:55
I don't at least they're not down here in South Florida. But I don't think they
Michael Benatar 31:58
are. I remember a vending machine out front. They would always sell off branded soda. And five cents for like a can of soda. I was like, Oh my god, this is crazy. You can get like soda for 25 cents out here. You know, just biking around.
32:15
You can get some off brand soda, you know and pay like 20 cent for it nowadays. In You know, that's still pretty decent. But, you know, yeah. Chocolate is very expensive chocolate.
Michael Benatar 32:28
That's a no go. We're gonna stick to dog products. Dog products are kind of expensive, too. So I imagine.
32:35
Yeah, but you have your you know your target. Today, people let me tell you. Let me tell you. I got my dog. Last year, she'll be one Valentine's Day. And a French Bulldog. Okay. Oh man says I wish he was up here. She's downstairs. He's crazy. But uh, yeah, um, let me tell you, I didn't want the dog at first. I was like, I'm not paying all that money for this is what I'm saying. You know, and I'm like, in now to have my dog. I love her. I would have been my last dime on her. So the point that I'm making is that you're selling something to people. This is what they love. You know, they walk their dog. They'll spend money on their dog, you know?
Michael Benatar 33:14
Yeah. So it's and we also have to send you some dog dog. So we'll send you some dope dog. Yeah, sure. For sure. Um, but do you want to ask the question the call me crazy question. Yeah, we
Erin 33:26
could talk pick your brain for hours. We want to hear your call me crazy story. You're a business owner. You're you know, you have your side hustle. So tell us about a decision you made or a business decision or personal decision in life where you might have been called crazy.
33:43
Um,
33:46
I think right now people are thinking I'm crazy because they're like, Alright, well, I just graduated. Last week. I just not graduate. I haven't officially graduated. But they're like, okay, you're in school. You work. You're doing I crave Vinnie, you got the nerve to be trying to open up another business. Are you crazy? And I'm like, I'm not Don't doubt me, you know. And I've learned so much what I crave anything that's teaching me how to maneuver through and start up and, you know, and kind of cut out all those things. And a lot of people think I'm crazy. And it is a lot, right. Yeah, but guess what? It's addicting. You know, this entrepreneur stuff is really addicting. You have so many creative ideas and you're like, I can do it. So yeah, a lot of people think I'm crazy for that. Like, all right, looking at you need to pump the brakes. You know, like I know they think I'm crazy, but I'm not I got this.
Michael Benatar 34:40
Well, you're on the right podcast, I
Erin 34:42
guess.
Michael Benatar 34:42
Yeah. Yeah. Call me crazy. It's great. All again. Yeah. Thank you so much for joining the show. I love it. Obviously. We're going to talk after this. I'm going to make a vending machine and maybe I'll update everybody once I have a vending machine out here. Super excited started. I crave vending on Instagram and also I crave bendy dot com. We'll put
Erin 35:01
off k r A v
Michael Benatar 35:03
yes with a K. Yeah. So I'll put it all in the description so everybody can go click and find it. But thank you so much for coming on the show.
35:10
It was fun. Thank you guys for having me. Thanks.