Before getting your hopes up about a vending machine passive income, or any other ‘passive’ income business model for that matter, remember you’re going to need to put in the work upfront. In a vending machine business this means getting everything in place before you earn a cent. This means purchasing machines, finding good placements for them, paying for stock and renting space. Learning the ropes of a vending machine “passive income” business is going to take time. It’s not a quick fix. And you’ll need to graft hard before you see any comeback.
Vending Machine Passive Income
Like many passive income ideas, the vending machine model jumps out at many people as being the ultimate in lazy income! Simply set up your machines and then travel around at the end of each week picking up your change from each machine. Or, better still get someone else to do it for you!
But remember, this business, like any other is going to take time and effort. Only once you’ve found a good placement for your machines, bought the machines in the first place, or rented them, and tested and measured various locations, will you know if your business model even works! By then you could be seriously out of pocket, too. Then you’ve got idiots like this who cost you money and require not only servicing of your machines but repair as well!
Online Vending Machine Business
An online “vending machine” works in much the same way as a physical vending machine. However, there are various benefits to starting an online business which far outweigh that of a physical vending machine business. If you’re looking for a vending machine passive income, you may be far better off if you look at the internet ‘vending machine’ business instead.
- There’s no machines to buy
- You don’t need to hunt for good locations
- You only need a laptop and internet connection
- There’s no servicing or repairs
- You don’t have to physically collect the money
There’s a few other advantages to starting an online business too. A vending machine passive income, although attractive, comes with a number of chores and expenses. You need to do your homework first and lay out a good amount of cash in order to even get started.
A Digital Vending Machine ‘Passive Income’
An online business is basically the same model as a vending machine passive income business. Using a clever business model known as affiliate marketing, online business owners can sell other people’s products, without having to physically speak to anyone or even handle any products themselves. By referring people to products they can benefit from, affiliates can earn up to 40% commissions on products they sell.
Once everything is set up, much like in the vending machine business, affiliates can earn commissions from the work they’ve done previously. A typical example of an online vending machine type of business is a website which sells something. As people land on the website and make a purchase, the website owner earns a commission. Or, if they own their products they earn a profit.
What’s great about an online business is that this can all happen automatically and runs 24 hours a day, 7 days a week. You don’t need to service your machines, empty them of change or refill them of stock either. If you sell other people’s digital products online, you are only acting as a referrer of customers. You don’t have to deal with stock or even any customers. Simply refer the customer and get paid electronically for the sale.
Setting Up Digital Vending Machines
Of course, like an physical vending machine passive income business, it takes some time to set up these systems and procedures. Setting up a website, sales funnel and range of digital products can be likened to the set up of your physical machines, products and locations for placement.
However, if you choose the right business model, you also have another massive ace up your sleeve – the global marketplace! The internet allows anyone access to a global marketplace. With a laptop, internet connection and the right products and sales system, anyone can go global with their business online. Compare this to a physical vending machine business and you’ll see the benefit.
A physical vending machine business can grow too. For each machine placement, you can earn a good weekly income. As your business grows, you can purchase new machines and place them in more locations. However, an internet business can do this too but far more efficiently.
Once you have a sales system in place, you can simply increase your marketing budget as your income grows. Testing and measuring of your marketing can allow you to make educated decisions on where to ‘place’ your advertising and which adverts are working best. Once you find this information, you can simply scale up to a larger audience.
Vending Machine Passive Income – Can Anyone Do This?
You’re probably thinking that all sounds great, but it’s something you have no experience of? Digital sales platforms and website building tools have come on a lot over the last few years. Anyone can have a website up and running within a very short amount of time, with no experience at all. Take a look at the video below by clicking the image:
As you can see in the video, it’s quite simple to get a website up and running which is fully customisable. Your website is basically your online digital ‘vending machine’ from which you can sell products and services. In order to earn ‘vending machine’ passive income from your website, there’s a few strategies you’ll need to learn.
How Online Marketers Earn Passive Income
You can earn passive income from a website like the one above. Like the vending machine model, you first need to set everything up so that the right people are in front of your digital products. First you’ll set up a digital sales funnel which you send people through from your website.
This is basically an email marketing funnel. With a range of products in your funnel, you can earn from sales made as your email list grows over time. This is all done already and you don’t need any expertise to set this all up. Once your systems are in place you’ll need a marketing ‘engine’ driving quality traffic directly into your sales funnel. Online marketing platforms allow anyone to do this. You just need to learn how.
Access an online training platform which shows you how to set all this up and how to learn online marketing to drive people to your digital products.
Does The Online Vending Machine Earn Passive Income?
So what’s passive about this online ‘vending machine’ then? Well there’s a couple of ways this business system generates a passive income for those who put the work in. Like a traditional vending machine business, there’s a fair bit of work to be put in both in setting up your business system and learning the strategies to market it effectively. But because of the automation involved in this business system, eventually, you’ll have created an autopilot money making system, of a sort!
Once you’ve learned how to send the right targeted traffic to your sales funnel (see ready made sales funnel), you can let automation do much of the work. After that, a clever business model can let you earn passive income too.
This is because of the products within this business model. The right products allow you to earn a passive income because of:
- High ticket sales – allow you to earn larger commissions on each sale
- Up-sells – having a range of products means you can earn later from your existing referrals. Refer a customer once, and earn commissions for potentially a lifetime.
- Monthly residual commissions – Once you refer a customer who purchases a subscription product, you can earn a recurring income monthly from the commissions.
- Multi-tier sales – Depending on your positioning in the business model, you can earn commissions based on the sale made by your referrals.
- A built in sales team – This is a huge benefit for affiliates. Having a team of people closing sales on your behalf makes a dramatic effect on your business, without you even needing to speak to a customer.
All You Need To Do!
All of these benefits makes this a very powerful business model. In conjunction with automation and a global audience, it’s one of the most powerful systems available for anyone to join and learn how to build an online business. All you need to do is:
- Set up the business system, website, sales funnel and products
- Send targeted traffic to it via online marketing strategies
That’s it! However, this does take some time to learn. You wouldn’t expect to start an vending machine passive income business without any know-how either?! However, there is a community of online entrepreneurs on hand to help, and as you have seen, the technology is there to help you set up the systems in a few simple steps. Access a free 7 day video series here to learn more.