82 - The Weird & Wonderful World of Vending
The vending machine business.
You see lots of little vending routes for sale on BizBuySell and many of these are just one- or two-person operations. Tiny businesses, really.
Then there is the one that today's guest, Ujwal Velagapudi, acquired.
Thousands of machines.
Millions in annual revenue.
Over a million dollars in cash flow. Or should I say, quarter flow? (Sorry.)
Ujwal's business is at a whole other level.
So if you've ever been curious about this weird and wonderful little industry, you're gonna love this episode.
Now, you may have noticed that at over 90 minutes, it's a long one.
Well, I wanted to get Ujwal's entire journey, not just the recent acquisition of the vending business.
And that's because it's an inspiring one of good old-fashioned bootstrappy hustle.
Ujwal starts by buying a little commercial building he found on Craigslist.
It's got fire damage on one side. It's in a rough section of Detroit. It cost $20,000.
But he buys it.
He parlays it into a portfolio of real estate.
Then he buys a bar, then a gym, then a consulting business, an e-commerce business, an online business, and finally the vending business.
Ujwal is an acquisition entrepreneur's acquisition entrepreneur, a serial buyer.
What an interesting path.
And at 30 years old, he's really only getting started.
I hope you enjoy my conversation with Ujwal Velagapudi as much as I did.
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