- Created on Friday, 01 February 2013 00:00
- Published on Friday, 01 February 2013 07:00
- Written by Aaron Gentzler, Editor, Unconventional Wealth
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This was the start of the meteoric rise of the Redbox DVD rental phenomenon. Back then, Redbox had just a few dozen machines. Today, it has 42,000.
It also has a big chunk of overall market share. Roughly 35% of all DVDs rented in the U.S. last year were from Redbox machines.
Blockbuster's bricks-and-mortar DVD rental model couldn't keep up. And the company went into bankruptcy in September 2010.
This is what Austrian economist Joseph Schumpeter called "creative destruction." Old businesses and products are constantly being replaced by newer, more innovative ones.
Think about the last time you held a Polaroid camera. Creative destruction in photography has given us digital cameras and Instagram.
Same goes for the Sony Walkman. Creative destruction in music players led to the portable compact disc player... and then to the rise of the iPod.
And Amazon's online model is well on its way to supplanting traditional bricks-and-mortar bookstores. The most high-profile casualty of this piece of creative destruction was the bookstore Borders, which filed for bankruptcy in 2011.
Today, I want to tell you about another case of creative destruction and how you can profit if you're willing to roll up your sleeves and get involved in a real business opportunity.
You see, Redbox didn't just help kill Blockbuster, it also helped spark a wave of creative destruction in retail. And it's going to be a hugely profitable wave for "self-made" entrepreneurs who get it on it early.
Think of your local convenience store. Now imagine that store broken up product by product and taken to high-traffic locations all around your community.
This is the future of shopping. No bricks and mortar. No inconvenient hours. No heating and cooling bills. No salespeople. No crushing inventory problems. Just popular products dispensed quickly and directly to consumers at convenient locations.
It's the Redbox model reinvented. Most anything shoppers want can now be dispensed through a Redbox-type kiosk. It's automated retail taken to the next level.
Of course, profiting from automated retail takes work and local knowledge. I'm not talking digging ditch type work. I'm talking "sweat equity" work -- the kind of work that made America great.
To make your automated retail business a success, you'll need to find a high-traffic area. You also need spare time to keep the machine filled with new merchandise. And you'll need the capital to get started.
But when you get the revenue stream set up the sky's the limit. You can reinvest the money you earn to grow your business.
One couple, the Smiths, have 69 machines in Delaware, Maryland and Pennsylvania. They started with one and built their way to a mini-empire.
I'll be frank. A lot of folks just won't be interested in this free enterprise opportunity. They'll think it's too much work. But if you are the type who's interested in creating real wealth and real prosperity, automated retail could be what you're looking for.
The automated retail boom is in its infancy. The right DVDNow machine in the right spot can clear you $500 in extra income a month... or $6,000 a year.
And if you build a mini-empire of 69 machines like Debbie and Troy Smith did, that's a total yearly profit of $414,000. That could crush the gains most individual investors make in stocks in a year.
Editor, Unconventional Wealth
P.S. I've found an even more profitable way to benefit from the automated retail boom. I call it the "DIY dividend." You can find all the details in the March issue of Unconventional Wealth. If you're not already a subscriber, you can sign up here.
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