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                The pandemic has boosted interest in vending machine ownership. But just how lucrative is the business?
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                 The Hustle is proud to deliver original longform journalism to your inbox every Sunday. This week, we're giving you a glimpse behind our creative process with the help of our sponsor, WeTransfer. Check out how their
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                <h2 style="font-size: 30px; font-weight: bold; line-height: 120%; margin-bottom: 6px; margin-top: 25px;">
                 <strong>
                  The economics of vending machines
                 </strong>
                </h2>
                <p style="color: #737373; font-family: Helvetica, sans-serif; font-size: 18px; font-style: italic; line-height: 120%; margin: 0; padding-bottom: 10px;">
                 The pandemic has boosted interest in vending machine ownership. But just how lucrative is the business?
                </p>
                <p style="font-family: Helvetica, sans-serif; font-size: 13px; line-height: 120%; margin: 0; padding-bottom: 24px;">
                 <strong>
                  BY
                  <a style="color: #D62829; text-decoration: none; text-transform: uppercase;">
                   Zachary Crockett
                  </a>
                 </strong>
                </p>
               </td>
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              <tr>
               <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Three months ago, Jalea Pippens — a phlebotomist at St. John Hospital in Detroit — had her hours cut.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 In the midst of the pandemic, the 23-year-old found herself in dire need of a second income stream. One night, while scrolling through search results for “ways to make extra money,” she came across vending machines.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 The daily minutiae of owning a vending machine seemed a bit dull: buying bulk candy at Sam’s Club, stocking machines, collecting weathered bills and buckets of coins. But Pippens saw an opportunity to be her own boss.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 She partnered up with her boyfriend and another business partner, bought a vending machine on Facebook Marketplace for
                 <strong>
                  $1.6k,
                 </strong>
                 and plunked it down at a local auto parts store, where it now grosses
                 <strong>
                  $400
                 </strong>
                 per month.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 “I’d never really thought about vending machines,” she tells
                 <em>
                  The Hustle
                 </em>
                 . “I didn’t even know you could own one.”
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Pippens is one of thousands of individual operators who make up the bulk of the vending machine ecosystem.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 During the pandemic, the relatively low barrier of entry has attracted a new generation of vending machine entrepreneurs — schoolteachers, nurses, mechanics, students — who measure profits in $1 bills and utilize new technologies to monitor and scale their operations.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 But are vending machines really a viable side hustle? How much does the average machine bring in? And what does the job entail?
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 To find out,
                 <em>
                  The Hustle
                 </em>
                 surveyed and interviewed 20+ vending machine operators all over America.
                </p>
                <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                 <strong>
                  A glimpse at the market
                 </strong>
                </h4>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 It is estimated that roughly ⅓ of the world’s
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  <u style="color: #d62829; text-decoration: none; underline: none;">
                   ~15m
                  </u>
                 </a>
                 vending machines are located in the US.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Of these
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  <u style="color: #d62829; text-decoration: none; underline: none;">
                   5m
                  </u>
                 </a>
                 US-based vending machines,
                 <strong>
                  ~2m
                 </strong>
                 are currently in operation, collectively bringing in
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  <u style="color: #d62829; text-decoration: none; underline: none;">
                   <strong>
                    $7.4B
                   </strong>
                  </u>
                 </a>
                 in annual revenue for those who own them. This means that the average American adult spends
                 <strong>
                  ~$35 per year
                 </strong>
                 on vending machine items.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 What makes the vending industry truly unique is its stratification: The landscape is composed of thousands of
                 <strong>
                  small-time independent operators
                 </strong>
                 — and no single entity owns
                 <strong>
                  &gt;5%
                 </strong>
                 of the market.
                </p>
               </td>
              </tr>
              <tr>
               <td>
                <a style="color: #d62829; text-decoration: none;" target="_blank">
                 <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Fsize_20201003002407.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMI6:7Kr-Qz_hLSGVFhdatJAfrdOplhhb_KRpLkVVuHfe80c" style="height: auto; max-width: 600px; padding-top: 10px; width: 100%;" width="600"/>
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                <p style="color: #5f696c; font-family: Helvetica, sans-serif; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px; padding: 8px 5px 20px;">
                 (Zachary Crockett / The Hustle)
                </p>
               </td>
              </tr>
              <tr>
               <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Some big corporations, like Pepsi and Coca-Cola, own their own arsenal of machines. But vending requires so many moving parts and brings in such slim profits per machine that it’s better suited for smaller operators who can minimize overhead costs.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 According to a 2020 IBISWorld report, the nation’s 2m in-use machines are owned by
                 <strong>
                  17.6k
                 </strong>
                 small businesses, the vast majority of which employ just a few people.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 The vending industry is broad and encompasses everything from $0.50 gumballs to — well:
                </p>
                <ul style="font-size: 16px; line-height: 20px; margin: 0; padding-bottom: 10px; padding-left: 12px;">
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  <a style="color: #d62829; text-decoration: none;">
                   <u style="color: #d62829; text-decoration: none; underline: none;">
                    Live hairy crabs
                   </u>
                  </a>
                  (~$4 each)
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  <a style="color: #d62829; text-decoration: none;">
                   <u style="color: #d62829; text-decoration: none; underline: none;">
                    Beluga caviar
                   </u>
                  </a>
                  ($500 per ounce)
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  <a style="color: #d62829; text-decoration: none;">
                   <u style="color: #d62829; text-decoration: none; underline: none;">
                    Engagement rings
                   </u>
                  </a>
                  ($800)
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  <a style="color: #d62829; text-decoration: none;">
                   <u style="color: #d62829; text-decoration: none; underline: none;">
                    Live earthworms for fishing
                   </u>
                  </a>
                  ($3.50 for a dozen)
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  <a style="color: #d62829; text-decoration: none;">
                   <u style="color: #d62829; text-decoration: none; underline: none;">
                    Morning-after pills
                   </u>
                  </a>
                  ($25)
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  COVID-19 essentials like
                  <a style="color: #d62829; text-decoration: none;">
                   <u style="color: #d62829; text-decoration: none; underline: none;">
                    hand sanitizer and masks
                   </u>
                  </a>
                  ($4.25 to $14.50)
                 </li>
                </ul>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Oddities aside, the majority of vending machines (
                 <strong>
                  72.4%
                 </strong>
                 ) house standard snacks and beverages — what are known as “full-line” machines in vending parlance.
                </p>
               </td>
              </tr>
              <tr>
               <td>
                <a style="color: #d62829; text-decoration: none;" target="_blank">
                 <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Ftype-1_20201003002444.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMI6:7Kr-Qz_hLSGVFhdatJAfrdOplhhb_KRpLkVVuHfe80c" style="height: auto; max-width: 600px; padding-top: 10px; width: 100%;" width="600"/>
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                <p style="color: #5f696c; font-family: Helvetica, sans-serif; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px; padding: 8px 5px 20px;">
                 (Zachary Crockett / The Hustle)
                </p>
               </td>
              </tr>
              <tr>
               <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Several things
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  <u style="color: #d62829; text-decoration: none; underline: none;">
                   attract
                  </u>
                 </a>
                 new operators to vending:
                </p>
                <ul style="font-size: 16px; line-height: 20px; margin: 0; padding-bottom: 10px; padding-left: 12px;">
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  <strong>
                   Relatively low startup costs
                  </strong>
                  : An operator can find a decent machine and buy inventory for &lt;$2k.
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  <strong>
                   Scalability
                  </strong>
                  : Early revenue can be reinvested in expansion to leverage economies of scale.
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  <strong>
                   A largely passive routine
                  </strong>
                  : Restocking and cash collection can be reduced to a few times per month.
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  <strong>
                   A flexible schedule
                  </strong>
                  : Like the gig economy, vending allows operators to set their own hours.
                 </li>
                </ul>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 But starting out in the business comes with its share of hurdles — the first of which is finding the right machine.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 A new machine straight from a manufacturer can run from
                 <strong>
                  $3k to $8k+
                 </strong>
                 — though used machines can be purchased on Craigslist or Facebook Marketplace for as little as
                 <strong>
                  $300
                 </strong>
                 .
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 As
                 <strong>
                  Paul Valdez
                 </strong>
                 , a 39-year-old Miami operator, learned, those machines often end up being more trouble than they’re worth.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 “I bought 4 machines on Craigslist for cheap and fixed them,” he tells
                 <em>
                  The Hustle
                 </em>
                 , “but they were all so crappy and old that no business wanted them.”
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Once an operator like Valdez has secured the right machine, the next obstacle is finding a quality home for it.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Location can make or break a machine’s success — and finding a good one is often a steep challenge for people who are new to the business.
                </p>
               </td>
              </tr>
              <tr>
               <td>
                <a style="color: #d62829; text-decoration: none;" target="_blank">
                 <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Flocations_20201003002525.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMI6:7Kr-Qz_hLSGVFhdatJAfrdOplhhb_KRpLkVVuHfe80c" style="height: auto; max-width: 600px; padding-top: 10px; width: 100%;" width="600"/>
                </a>
                <p style="color: #5f696c; font-family: Helvetica, sans-serif; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px; padding: 8px 5px 20px;">
                 (Zachary Crockett / The Hustle)
                </p>
               </td>
              </tr>
              <tr>
               <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Many of the best locations — places with heavy foot traffic, or large worker populations — are already saturated with machines.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Some owners we talked to have to make 100+ calls before landing a decent location. In the end, they often end up paying the owner a
                 <strong>
                  commission of 10%-25%
                 </strong>
                 of gross sales to drive home the deal.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Other owners resort to buying pre-established
                 <strong>
                  “routes”
                 </strong>
                 — machines that are already placed on-site somewhere — or attempt to knock out existing operators by offering a better service.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 “It can be dog-eat-dog,” says
                 <strong>
                  Alyssa Howard
                 </strong>
                 , a 28-year-old who owns 22 snack machines in Colorado. “You have to treat it as a zero-sum game.”
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 The reason for this competition is simple: There is a tremendous variance in how much revenue a machine can bring in, based on where it is.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 <strong>
                  Good margins, small volumes
                 </strong>
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 We surveyed 23 vending machine owners with various-sized operations and found that the average operator in our sample owned 13 machines that gross
                 <strong>
                  $309 per machine per month
                 </strong>
                 .
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 But self-reported revenue per machine per month ranged from just $75 to $650.
                </p>
               </td>
              </tr>
              <tr>
               <td>
                <a style="color: #d62829; text-decoration: none;" target="_blank">
                 <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Frevenue_20201003002559.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMI6:7Kr-Qz_hLSGVFhdatJAfrdOplhhb_KRpLkVVuHfe80c" style="height: auto; max-width: 600px; padding-top: 10px; width: 100%;" width="600"/>
                </a>
                <p style="color: #5f696c; font-family: Helvetica, sans-serif; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px; padding: 8px 5px 20px;">
                 Note: This data comes from a survey of 23 operators and isn’t meant to be definitive; some vending machines make far less than the figures listed here; others make far more. (Zachary Crockett / The Hustle)
                </p>
               </td>
              </tr>
              <tr>
               <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Most vendors we spoke with noted big differences in revenue across their own machines.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 “I have one machine that does $25 every 2 weeks, and another that does $600,” says
                 <strong>
                  Everett Brown
                 </strong>
                 , a 32-year-old Lyft driver from Minneapolis who vends part-time. “Every location is different; some places suck, and others are gold mines.”
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 <strong>
                  Jaime Ibanez
                 </strong>
                 got into vending in 2018. Fresh out of high school, he dropped
                 <strong>
                  $2.5k
                 </strong>
                 — about half his savings — on a refurbished snack machine and found a home for it at a local barbershop in Dallas.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Today, he owns 35 machines that gross
                 <strong>
                  $10k
                 </strong>
                 in revenue every month. His best location, a hotel, earns him $2.8k; his worst sometimes only sees $200.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 And remember: these figures are
                 <em>
                  pre-expenses
                 </em>
                 . The business comes with its share of overhead costs.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 For starters, ~
                 <strong>
                  50%
                 </strong>
                 of revenue goes toward the cost of items that go in the machines.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Many operators buy their wares in bulk at Sam’s Club and Costco and sell them for roughly 2x the price they paid. Here’s a look at how a typical vending machine’s margins might look by item:
                </p>
               </td>
              </tr>
              <tr>
               <td>
                <a style="color: #d62829; text-decoration: none;" target="_blank">
                 <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Funit%2520economics_20201003002630.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMI6:7Kr-Qz_hLSGVFhdatJAfrdOplhhb_KRpLkVVuHfe80c" style="height: auto; max-width: 600px; padding-top: 10px; width: 100%;" width="600"/>
                </a>
                <p style="color: #5f696c; font-family: Helvetica, sans-serif; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px; padding: 8px 5px 20px;">
                 (Zachary Crockett / The Hustle)
                </p>
               </td>
              </tr>
              <tr>
               <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Among the other operating costs reported by vending machine owners:
                </p>
                <ul style="font-size: 16px; line-height: 20px; margin: 0; padding-bottom: 10px; padding-left: 12px;">
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  General liability insurance (~
                  <strong>
                   $500/yr
                  </strong>
                  for &lt;$100k in annual sales)
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  Commissions paid to locations (
                  <strong>
                   5-25%
                  </strong>
                  of revenue)
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  Transaction fees for card purchases (
                  <strong>
                   ~5-6%
                  </strong>
                  )
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  Card reader analytics fees (
                  <strong>
                   $10/mo
                  </strong>
                  )
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  Storage space for unused machines (
                  <strong>
                   ~$100/mo
                  </strong>
                  )
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  Gas and transportation (
                  <strong>
                   $50-$100/mo
                  </strong>
                  )
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  Taxes (
                  <strong>
                   10-37%
                  </strong>
                  of adjusted gross income)
                 </li>
                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  Routine maintenance and vandalism repairs (
                  <strong>
                   $50-$250/yr
                  </strong>
                  )
                 </li>
                </ul>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Even something like logistics can be a burden: Vending machines are extraordinarily heavy —
                 <strong>
                  600-800 lbs.
                 </strong>
                 — and often require special equipment to pick up and move.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 All costs considered, an operator who makes $5k per month in revenue might take home something like
                 <strong>
                  $2k in profit
                 </strong>
                 .
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 To make vending work as a full-time gig, an operator typically must implement
                 <strong>
                  economies of scale
                 </strong>
                 , building the business up to dozens of machines that collectively generate a livable wage.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Operators like Ibanez are constantly reinvesting in expansion.
                </p>
               </td>
              </tr>
              <tr>
               <td>
                <a style="color: #d62829; text-decoration: none;" target="_blank">
                 <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Fibanez_20201003002656.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMI6:7Kr-Qz_hLSGVFhdatJAfrdOplhhb_KRpLkVVuHfe80c" style="height: auto; max-width: 600px; padding-top: 10px; width: 100%;" width="600"/>
                </a>
                <p style="color: #5f696c; font-family: Helvetica, sans-serif; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px; padding: 8px 5px 20px;">
                 Ibanez with a few of his 35 vending machines in Dallas (via Jaime Ibanez)
                </p>
               </td>
              </tr>
              <tr>
               <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 The biggest input cost of all — the amount of time a vendor spends on-site — has been minimized by technology in recent times.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 “I can visit all my machines in 2 days and not have to go back for 2 weeks,” says Ibanez.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Twenty years ago, operators had to drive to each machine on a semi-daily basis and jot down the items they needed by hand. Today,
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  <u style="color: #d62829; text-decoration: none; underline: none;">
                   telemetry
                  </u>
                 </a>
                 tools have largely allowed newcomers to operate remotely.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Roughly
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  <u style="color: #d62829; text-decoration: none; underline: none;">
                   70%
                  </u>
                 </a>
                 of today’s vendors use some form of tech (
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  <u style="color: #d62829; text-decoration: none; underline: none;">
                   card readers
                  </u>
                 </a>
                 , apps, iPads) to monitor sales and inventory in real-time.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 On a typical site visit day, Ibanez will get up at 6am, check his apps for inventory, and load up on his bestsellers — Honey Buns, M&amp;M’s, and Snickers — at Sam’s Club. After restocking, collecting money, and doing an occasional repair, he’s home by 4pm.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 This seemingly dull routine has piqued the interest of hundreds of thousands of young entrepreneurs on the Internet.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Ibanez’s YouTube
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  <u style="color: #d62829; text-decoration: none; underline: none;">
                   channel
                  </u>
                 </a>
                 , which chronicles his life as a vendor, boasts
                 <strong>
                  362k
                 </strong>
                 subscribers and now earns more than his machines.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 “People love to see the stacks of cash getting pulled out,” he says.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 But something else is driving this fascination: the allure of a semi-passive income has led to a spike in vending during the pandemic.
                </p>
                <h4 style="font-size: 17px; height: 100%; letter-spacing: 0px; line-height: 22px; margin: 0px; padding-top: 8px;">
                 <strong>
                  The COVID-19 boom
                 </strong>
                </h4>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Barry and Lori Strickland, a married couple in San Diego, run
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  <u style="color: #d62829; text-decoration: none; underline: none;">
                   The Vending Mentors
                  </u>
                 </a>
                 , an educational resource that offers a 6-week course ($297) and ongoing consulting services ($97/mo) for new vendors.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Their journey into vending began back in 1989, when Barry — then a 30-year-old special education teacher — bought a few machines to make extra income during the summer.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Eventually, the couple grew the business to
                 <strong>
                  250
                 </strong>
                 machines and
                 <strong>
                  $500k
                 </strong>
                 in annual revenue before selling it.
                </p>
               </td>
              </tr>
              <tr>
               <td>
                <a style="color: #d62829; text-decoration: none;" target="_blank">
                 <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Fmentors_20201003002730.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMI6:7Kr-Qz_hLSGVFhdatJAfrdOplhhb_KRpLkVVuHfe80c" style="height: auto; max-width: 600px; padding-top: 10px; width: 100%;" width="600"/>
                </a>
                <p style="color: #5f696c; font-family: Helvetica, sans-serif; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px; padding: 8px 5px 20px;">
                 Lory and Barry Strickland have seen an uptick in their vending machine course during the pandemic (Barry and Lory Strickland)
                </p>
               </td>
              </tr>
              <tr>
               <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Since the pandemic, the Stricklands say they’ve seen a huge uptick in interest. This year, 200 vendors have signed up for their course.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 “A lot of blue-collar workers are realizing their jobs are not as secure as they thought they were,” says Mr. Strickland. “We’re getting tons of interest from people who lost their jobs, or had hours cut, and are turning to vending to take things into their own hands.”
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Mr. Strickland says that most vendors he knows have seen a
                 <strong>
                  10-50% dip
                 </strong>
                 in revenue this year due to the stressors of the pandemic.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Radical shifts in consumer behavior, physical interaction, and health guidelines have shifted the vending landscape. Vendors who rely on
                 <strong>
                  schools
                 </strong>
                 have been hit especially hard; other locations, like
                 <strong>
                  nursing homes
                 </strong>
                 , have continued to perform well.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Despite the shakeup, Mr. Strickland maintains the market is ripe for entry.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 “Vending machines are relatively safe compared to food prep — there isn’t as much human contact,” he says. “It’s also a business that a lot of people consider to be recession-proof.”
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 In particular, the Stricklands have noticed an uptick in Black and Latino vending machine owners — a trend they attribute to accessibility and relatively low startup costs.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  <u style="color: #d62829; text-decoration: none; underline: none;">
                   VendingNation
                  </u>
                 </a>
                 , a popular private Facebook group for new venders, has grown from
                 <strong>
                  6k to 14.5k members
                 </strong>
                 since January — a
                 <strong>
                  142%
                 </strong>
                 increase — and many of the new members are from underrepresented groups.
                </p>
               </td>
              </tr>
              <tr>
               <td>
                <a style="color: #d62829; text-decoration: none;" target="_blank">
                 <img alt="" src="https://inboxflows.com/_/image/https%253A%252F%252Fthdaily.s3-us-west-1.amazonaws.com%252Fjalea2_20201003002820.jpg/?inbox_flows_img_sig=eyJwYXRoIjoiaHR0cHMlM0ElMkYlMkZ0aGRhaWx5LnMzLSJ9:1kXMI6:7Kr-Qz_hLSGVFhdatJAfrdOplhhb_KRpLkVVuHfe80c" style="height: auto; max-width: 600px; padding-top: 10px; width: 100%;" width="600"/>
                </a>
                <p style="color: #5f696c; font-family: Helvetica, sans-serif; font-size: 12px; font-style: italic; line-height: 20px; margin: 0px; padding: 8px 5px 20px;">
                 Jalea Pippens with a new machine — one of 15 she co-manages with her partners, Steven Lee and Gabriel McKinnon, in Detroit (Jalea Pippens)
                </p>
               </td>
              </tr>
              <tr>
               <td class="h2020 ignore-defaults" style="padding: 0px 10px;">
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Among them is Jalea Pippens, the phlebotomist from Detroit.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 After buying her first machine 3 months ago, she launched
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  <u style="color: #d62829; text-decoration: none; underline: none;">
                   Literally Lit Vending
                  </u>
                 </a>
                 with her boyfriend (a nurse), and his best friend.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 “The pandemic made us into entrepreneurs,” she says.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Over the past 3 months, Literally Lit has grown to encompass 15 machines all over Metro Detroit. Recently, they landed their biggest deal yet: 5 machines at a steel manufacturing warehouse.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Collectively, the machines now bring in
                 <strong>
                  $4k in monthly revenue
                 </strong>
                 — most of which is being reinvested into the company.
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 “When I used to see a vending machine at the hospital, I’d spend at least $5,” she says. “Now I’m on the other side, collecting the bills.”
                </p>
               </td>
              </tr>
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                 <strong>
                  Ideas are nothing without a little doubt
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                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Here at The Hustle, we have ideas --
                 <em>
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                 </em>
                 .
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                 We also know nothing is perfect from the start. So, we:
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                  Criticize (constructively, of course)
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                  Poke, prod, and peel back layers
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                 <li style="font-size: 15px; line-height: 140%; margin: 0 0 0 15px; padding: 0px;">
                  Get frustrated and tear everything up
                 </li>
                </ul>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Then rinse and repeat until we
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  hit gold
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                 . All part of the process, ya know?
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 <strong>
                  See, a little doubt is what turns good ideas into
                 </strong>
                 <em>
                  <strong>
                   great
                  </strong>
                 </em>
                 <em>
                  <strong>
                   ones
                  </strong>
                 </em>
                 <strong>
                  .
                 </strong>
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 When it comes to finally bring these ideas to life, we turn to
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  WeTransfer and their sweet set of tools
                 </a>
                 .
                </p>
                <p style="font-size: 15px; line-height: 140%; margin: 5px 0px 10px;">
                 Specifically designed for creative professionals (hey, that’s us!), WeTransfer helps us tackle blank pages with
                 <a style="-webkit-text-fill-color: #d62829; color: #d62829; text-decoration: none;">
                  Paste®
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                 , organize and share inspiration with
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