Premium Honesty Markets

The speakers discuss several variations on the vending machine business model, focusing on premium unattended retail concepts and subscription-based approaches.

Core Business Models:

• Honesty Market Concept:

  • Target high-end office spaces (like Adobe, WeWork)
  • Unattended retail with no staff
  • Customers self-pay without supervision
  • Works well in premium environments

• Subscription-Based Vending:

  • Monthly subscription model ($30/month suggested price point)
  • Customers get special access card (like metro card)
  • Limited quantities rather than unlimited access
  • Trade 15% revenue reduction for upfront payments

• Health-Focused Gym Vending:

  • Target CrossFit and fitness facilities
  • Stock post-workout products:
    • Recovery drinks (Fit Aid, Gatorade, Propel)
    • BCAAs and protein products
    • Hydration supplements
  • Avoid traditional snacks/candy
  • Position as post-workout recovery station

Key Success Factors:

• Focus on specific locations/demographics
• Premium positioning in right environments
• Recurring revenue through subscriptions
• Product selection matched to location type

The model can be implemented in local markets without requiring significant innovation - just proper execution in the right locations with the right product mix.