180solutions: Working on a 180 Degree Public Relations Turn
Third International Conference on Communities and Technologies

CineVend: An Innovation for Enabling Impulse Buying

Greg Kriegler, president of CineVend (mantra: "Take the experience home"), gave an impressive 5-Minute Forum presentation yesterday at the Northwest Entrepreneur Network Venture Breakfast.  He gave such a concise description of his business, I'll simply quote it here:

Cinevend develops, owns, operates and sells innovative vending machines with a focus on media vending.

The company's vending machines sell or rent DVDs or CDs, and their vending machine designs are pretty cool (the CinePod 4, which they brought to the breakfast, is shown below).

Cinepod4

What I find most compelling about their business model, though, is that they are situating these machines in places where they can maximize impulse buying opportunities, e.g., offering movie soundtrack CDs at a movie theater, offering exiting theatergoers the opportunity to take the soundtrack home with them.

The presentation was made all the more impressive by what I learned during a discussion with Greg, and his business partner, Phil, after the meeting.  Greg said he had never given a presentation before (correction: he had never given a presentation to an audience that large before [see Greg's comment]);  I believe this was one of the best presentations -- if not the best -- I've seen in the 5-Minute Forum (which routinely has great speakers).  Even more impressive is their gumption: they are young (20s), relatively inexperienced, but full of passion and the drive to make things happen.  Greg was clear about what CineVend needs: find hosts and partners, and develop a management team.  I think they are on to something big here, and I suspect they will have no trouble in attracting all of the above.

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