u/PilotAlarmed9444

It’s not having a good idea.

It’s not being self motivated.

It’s not being action oriented.

It’s not knowing your product.

All of those are importantly obviously, but none of them matter without:

UNDERSTANDING THE NUMBERS (Basic Accounting)

Without that, you can build the train and you can even get it moving, but the tracks are headed off a cliff and you would have been better off never boarding in the first place.

You don’t need to be a CPA but you do need to understand P&L Statements, Balance Sheets, Forecasting, and basic tax rules AND WHAT THOSE NUMBERS MEAN.

Otherwise how else are you going to know if you’re truly making money? How much more debt you can take? What you need to do to get your business eligible for financing? How fast you can scale? How many more people can you hire?….you can’t.

Am I crazy or is this Seaga AMS AI cooler a game changer?

Plastic glass that can take a baseball bat and is 20%+ more efficient meaning the compressor lasts longer.

Pull out shelves which probably cuts the time to load product in half.

Looks amazing.

Uses Cantaloupe.

US company.

No official price but supposedly $5-6k

https://seagacoolers.com/

https://youtube.com/shorts/vBI-0slUG-g?is=k53O1xfM6Oh5VkmE

https://youtube.com/shorts/wCsmzUnbHSk?is=jQIOoE8t4m-VKabR

Thoughts?

I’m not planning on having many machines but I have a day job and I won’t be able to dedicate any time to vending 8-4 M-F. Will that be a problem?

Specifically if someone has an issue with a machine or needs a refund do I need to be reachable all the time? How does that work typically?

I haven't started yet other than reading a book and reading this forum. Here's my to do checklist, what am I forgetting?

VENDING MACHINE BUSINESS CHECKLIST

·       Business Name

·       Business License

·       Register with State Dept of Revenue/IRS

·       Health License (if needed)

·       Operator License

·       Logo

·       Website

·       Business Cards

·       Flyers/Brochure

·       Contract Template/Service

·       Store/Cost of Items Planned to Sell

·       Prices for items planned to sell

·       Machine Options/Cost

·       Business Plan

·       Operations Software

·       Insurance Plan

·       Sales Pitch

·       Practice Sales Pitch

·       Learn how to fix machines/get certified?

·       Identify prospective locations

·       Storage Area for goods identified

·       Make a deal for first location

·       Poll regulars in location for product preferences

·       Obtain Insurance

·       Order Machine/Install

Is there a rule of thumb for you use for setting prices of items in your vending machine? Like a certain percentage over what you paid for it? Or do you try to match convenience stores in the area? What’s your strategy?

I see that Whoop will import workouts from Strava.

For those that utilize this function, why do you prefer to put workouts in Strava rather than just put them directly into Whoop? I’d rather not have yet another app but if there’s a reason I’d consider it.

Here is what I call the 4 Corners Strategy for Whoop.

1. Whoop -- Sleep and Strain, basically use this to optimize sleep and workout until you hit the strain target (until your band vibrates).
2. Cronometer -- Calorie/Macro tracking/Supplement Needs, Connect Whoop to Cronometer and log your food with your weight goals. It will automatically use the data from Whoop to help determine your calorie limit.
3. Withings Scale -- Weight/Body Composition, Buy a Withings Scale and connect Whoop and Cronometer to it. (They are pricey but I got an open box one on eBay for $50). Whoop's data will be MUCH more accurate with daily Weight and Body Composition data. Cronometer will also benefit. Also a daily reminder of your progress. Weigh yourself naked right when you wake up everyday.
4. Quest Advanced Labs -- Goal Setting/Supplement Needs, Technically this is inside of Whoop but it's really a Quest Lab that's fully integrated. Whoop data (weekly goals and Whoop age) will be much more accurate with this info.

BONUS: Feed your Cronometer Report AND Advanced Lab Report into AI and ask it what Supplements you need (and shouldn't take). I fed mine into 3 different AI's and got the exact same vitamin recommendation everytime.