If you want to generate passive income and enhance your financial future, opening a vending machine business can be a great idea.
You’ll be able to generate passive income by purchasing ice vending machines, placing them in high-traffic areas, and enjoying their stream of profits. Suppose you already run a passive income business like vending machines. In that case, you will find that ice vending machines have the added advantage of only having one item in inventory.
Ice vending machines business
Having ice vending machines in different locations and earning money from the sales they generate is the basis of an ice vending machine business.
Smart Ice Remote Management and Health Wise Filtration are equipped in each vending machine to ensure a superior experience for every customer. Due to this, some company’s machines make up more than 90% of all ice vending sales worldwide.
Right size:
Your business plan should determine which size ice vending machine you need. It is essential to consider how much money you plan to invest, the market demand, and the constraints of your location after selecting the most appropriate ice vending model. So, we designed models of ice vending machines to appeal to many different types of investors, markets, and locations. We’ll help you evaluate your options so you can find the right fit for your business goals, whether you’re interested in the sleek Ice Merchant or the best-in-class Ice House.
Maximize income potential
Companies offer three vending machines with ice & water models to help you maximize your location’s earning potential. To maximize your earning potential, you can expand the location where you already have a vending machine. You decide what works best for you.
Key Characteristics
- High traffic areas are best suited to this product.
- Product, which weighs between 2,500 and 5,000 pounds.
- Standard ice machine and water dispenser.
- Filtration of sediments, water softeners, and carbon filters.
- Compatible with reverse osmosis.
- Cash, coins, cards, Google Wallet, Apple Pay, credit cards, and coupons are accepted payment methods.
- Including an ice maker screen and awning with a backlit structure.
Designed as a standalone ice
Ice Merchant is designed as a standalone ice and water retailer with the flexibility to support any retail business. Hence, convenience stores, campgrounds, grocery chains, car washes, and savvy entrepreneurs have emerged to capitalize on its popularity. The Ice Merchant is comparable in size to traditional ice merchandisers. It provides a superior product and excellent customer service 24/7.
- Small format ice vending machines that are most reliable.
- Require minor maintenance.
- Suitable for both indoor and outdoor use.
- There are sediment filters, water softeners, and carbon filters.
- Designed for reverse osmosis.
- Accept cash, coin, credit card, Google Wallet, Apple Pay, and tokens as forms of payment.
Inline products fit into the walls of your company, saving space and making access convenient. The products are perfect for commercial installations.
Which ice machine is the best?
The most energy-efficient machines on the market are those in the Everest VX Series. They simply need electrical service at 30 AMP. 60AMP is the next-closest rival, and they reach as high as 200! Our equipment produces 10 pounds of ice for about $0.07 because of its efficiency.
What is the revenue from ice vending machines?
Ice vending machines are a profitable business venture that provides a convenient and low-cost way for customers to purchase ice. The revenue from ice vending machines varies based on the location, the demand for ice, and the number of machines installed. Some machines generate as much as $200,000 in annual revenue. The amount of revenue generated also depends on the size of the machine and the volume of ice produced. A small machine can generate about $100 to $200 per day, while a larger machine can produce up to $2,000 per day.
The cost of running an ice vending machine is relatively low, with electricity and maintenance being the primary expenses. The average operating cost of a small ice vending machine is about $10 per day, while the larger ones can cost up to $50 per day. The return on investment for an ice vending machine is usually between 1-2 years, depending on the location and the demand. An excellent location for an ice vending machine includes areas with high foot traffic, such as gas stations, convenience stores, and tourist attractions. With the low operating costs and the potential for high revenue, ice vending machines are a sound investment for entrepreneurs looking to start their own business.
Your ice vending machine can generate approximately $3,664 per month in net profit based on typical pricing and average sales volume. If those assumptions are used, gross revenue for the month would be $3,900 and $236.
I used Everest Ice and Water Systems (a leader in water and ice vending machines) to calculate these assumptions. Get more accurate estimates and adjust the inputs based on what you plan to charge, what you expect your sales volume to be, and your local utility costs.
Ice vending machines cost
In the United States, one of the most popular suppliers of ice vending machines is Ice House America, whose machines cost anywhere from $43,000 to $150,000. Manufacturers typically provide a one-year warranty on these machines and they last for 20 years.
However, initial costs are just a part of the equation. Plastic bags cost about $0.15 each, and the cost of making ice is about $0.50 per 100 pounds. Therefore, using a bag would cost $0.25 for every 20 lbs of ice. Depending on which model of the ice vending machine the customer selects, the cost can be reduced to $0.10. Maintenance costs, repair costs, and rent to the location owner may also be incurred.
Read More: Box Truck Contracts: Everything You Need Know About Box Truck Contracts
Do ice vending machines generate passive income?
The right structure can create passive income from ice vending machines. You should take the following steps to ensure your ice vending machine business is as passive as possible:
- Purchase durable machines that need little maintenance.
- Maintenance.
- Accept noncash payments.
- You can monitor your machines remotely with remote management software.
- Outsource route running and maintenance.
- Make sure your machines are repaired when needed.
Although most of the above items seem self-explanatory, I would like to mention some remote monitoring software to monitor your ice vending machines. Your ice vending machine business can become more passive with this software. On your phone or laptop, you can monitor sales, receive service reminders, view interior and exterior views of machines, and control and fix essential issues.
Also, you can determine precisely how much money has been taken from your machine (which is very important if you want to prevent theft from the people running your routes).
