Hey there, Vendpreneur!

Welcome to Becoming a Vendpreneur—where every week I help you navigate the challenges of running a vending machine business, whether you’re just starting out or looking to expand your operation.

This week, we’re going to dive deep into the 8 key tools I use to efficiently run my $1M/year vending business:

• Tool #1: Nayax

• Tool #2: VendSys

• Tool #3: QuickBooks

• Tool #4: Loom

• Tool #5: Timeero

• Tool #6: Monday.com

• Tool #7: ZippyAssist

• Tool #8: DocuSign

Before we dive in, let's catch up on some exciting updates from my vending business, Pod Plug:

Quick Business Updates:

• We're in the final stages of selling our 8 machines in Austin, TX. Price has increased to $150,000, and we're expecting a letter of intent on Monday. Big moves ahead.

• Our Oxford, MS route (3 machines) is nearly sold for $30,000. Purchase agreement is imminent. Another win for the team.

• Deep in the weeds of our complex franchise financial model. This will give us clarity on the investment needed to make our franchise initiative profitable. Crucial stuff.

• Exploring new product additions to keep things fresh. Adult novelties and mystery bags are on the table. Stay tuned.

• A warm welcome to Ana, our new Operations Associate starting Monday! Excited to have her on board.

• Thrilled to also welcome Madi, our first intern from the University of Wisconsin-Madison! She'll be conducting market research and building our prospecting list for the upcoming Los Angeles launch. T-minus 8 weeks.

• Kicked off a custom digital screen revamp on our smart machines with a talented designer. Upgrading the user experience, one screen at a time.

• Hopped on 4 successful calls with aspiring Vendpreneurs from Twitter DMs. Guided them through the startup process and shared sales strategies for securing that first location. Paying it forward.

• Celebrated a milestone: 200 newsletter subscribers strong! Thanks for being part of this journey. This is just the beginning.

Now, let’s dive in!

Starting and managing a vending business (especially alongside a full-time job and on a tight budget) can seem overwhelming.

You're likely wondering:

1. "How can technology elevate my side hustle?”

2. “What are the smart ways to embrace these tools without breaking the bank?"

Here's the thing: I’ve been in your shoes. Let me break down AI and automation for you in simple terms.

Forget the techie jargon.

These tools are transformative, even for the smallest ventures.

In fact, these technologies are still key players in my own business expansion today.

Want to see how I use tech to streamline operations and cut costs?

Keep reading! 👇

1. Nayax

Nayax is a versatile payment tool that simplifies the way you run your vending business. It does two key things:

1. Payment Processing: Nayax brings all your payment methods together in one place. That means less hassle with middleman services and lower fees for you.

2. Inventory Tracking System: Nayax keeps you in the loop with real-time updates on your stock levels, machine performance, and sales. This is a lifesaver when you're managing multiple machines in different locations.

3. Customer Refunds: Nayax makes it easy to handle customer refunds, so you can keep your customers happy and coming back for more.

For years, Nayax has been our go-to for information and has been invaluable in verifying the online statuses of each machine.

The best part? Nayax supports over 80 types of payments from over 50 different currencies. It also works with many cashless payment methods like:

• QR codes

• Mobile wallets

• NFC (Apple Pay, Google Pay, Samsung Pay, etc.)

Monthly transaction fees: $7.95-9.99 per machine

Get started with Nayax here.

2. VendSys

When it comes to advanced inventory management, VendSys is my top pick, and it's never let me down.

In addition to inventory tracking, VendSys offers several other features, including:

• Purchase orders

• Supplier logistics

• Route optimization

• Demand forecasting

• Equipment maintenance

• Calculating spoilage or lost inventory

...and the list goes on.

All of this comes at an affordable price too.

Monthly fee: $1.50 - $2.50 per machine

Check out their website here.

P.S. Nayax acquired VendSys a few years ago, so if you’re a Nayax user I’m sure you’ll get better pricing.

3. QuickBooks Online

When it comes to managing my finances, QuickBooks is my one-stop shop. I use it for everything.

It helps me with:

• Sending invoices

• Calculating taxes

• Tracking expenses

• Monitoring revenue

• Viewing financial reports

Pricing: $30/month (Simple Start Plan)

Get started with Quickbooks here.

4. Loom

When it comes to saving time on meetings, onboarding, training, and keeping our company knowledge in one place, Loom is my go-to software.

For context, we've got a team of 10, with our farthest member all the way in the Philippines.

Thanks to Loom's amazing features, we save about 8 hours a week on calls and meetings.

Here's what it does:

• Automatic transcription

• Recording live meetings

• Using AI to cut out filler words

• Turning meeting notes into SOPs

• Tracking who's watched my videos

• Pre-recording tutorials for onboarding and future use

• Screen recording videos (turning a 20-minute meeting into a 2-minute clip)

If you want to streamline your team's communication and save a ton of time, give Loom a shot. You won't regret it.

Pricing: $12.50 per month

Sign up here.

5. Timeero

Once you've scaled your business and want someone else to stock your machines, Timeero is a must-have.

It provides precise and verifiable tracking of an employee’s time and mileage. You can even geofence zones that will only allow your employee to clock-in within certain boundaries.

Here’s how I use Timeero’s features:

• Time Tracking: Employees can clock in and out right from their phones, and it integrates seamlessly with my payroll tool.

• GPS Tracking: I can see where my employees are in real-time when they’re clocked-in.

• Mileage Tracking: It's easy to reimburse travel expenses accurately.

• Geofencing: I set virtual boundaries around specific job sites or areas. Timeero logs when an employee enters or exits these areas, so I can monitor attendance and make sure they're sticking to their work schedules.

• Audit and Compliance: I can maintain accurate logs of employee movements and work hours for audits and compliance checks.

Pricing: $12.50 per user per month

Check out their website here.

6. Monday.com

When it comes to a Sales CRM and task management, I rely on Monday.com.

This tool offers flexible and customizable features that allow me to adapt to various business requirements:

• Task Assignment: I can easily assign tasks to team members and set due dates.

• Progress Tracking: I can track the progress of each task and project in real-time.

• Collaboration: My team can collaborate on tasks, share files, tag each other, and communicate within the platform.

• Lead Tracking & Management: I can categorize leads into new, warm, and closed stages.

Simple always wins.

Pricing: Free

Sign up here.

7. ZippyAssist 

Every single one of my vending machines has a ZippyAssist sticker, and it's made a big difference in how we handle customer support.

So, what does this sticker do? Let me break it down for you:

1. The sticker has a phone number that customers text a 4-digit code, and it takes them straight to their web browser to explain what happened.

2. Our system captures their request in real-time, so we can get on it right away.

3. If the issue needs special attention, we'll send help ASAP.

4. If a customer wants a refund, we can review and process it with a click of a button.

Previously, our customer support process was much slower:

• A customer would send us an email.

• Our team would respond, asking for more details.

• The customer would reply with the required information.

• Our team would then decide whether to issue a refund.

With ZippyAssist, there’s no more back and forth, and we save tons of time every week.

If you want to streamline your customer support and keep your customers happy, give ZippyAssist a try. Worth every penny.

Pricing: $95/month

Sign up here.

8. DocuSign

DocuSign is a tool I can't live without when it comes to closing deals with locations.

It's a secure and lightning-fast way to handle electronic signatures. I can easily track the status of every contract, including:

• Who has viewed it

• Who has signed it

• Who still needs to sign

• It also sends reminders if the agreement wasn't signed after a certain amount of time

DocuSign also has templates that make it easy to prepare documents you want to send multiple times with the click of a button.

And here's the kicker: it follows some of the strictest security standards in the US, EU, and globally.

Here's how I use DocuSign:

• I upload a contract template

• I fill out the specifics of the contract based on the agreements I make with each location.

• I type in the signer’s name and email.

• I click send.

I've used DocuSign for 5 years without fail. Yesterday, a bar owner in Austin inquired about a machine via email. I called, sent a DocuSign, and he signed immediately. Deal closed in 10 minutes flat.

Pricing: $10/month

Sign up here.

And that’s it!

Every essential aspect of the business—including sales/finance, marketing, HR, operations, customer service, and legal—is effectively managed using software.

Take advantage of these cutting-edge tools now, and you'll appreciate the investment in the future.

Thanks for reading this week’s newsletter.

Hit reply and let me know what you found most helpful this week—I read every single reply and I’d love to hear from you!

See you next Saturday!

-Ethan