Posted on: August 25, 2023 | Investing
With great management and the right locations, snack vending can be a lucrative business. If you’ve considered expanding your vending business and you’re considering other types of vending, ice and water vending might be perfect for you. Let’s take a look at the basics of ice and water vending, and some advantages of adding ice vending to your snack vending business.
What is Ice and Water Vending?
First, let’s take a closer look at what ice and water vending is, and how it works. Ice vending machines, which can also be equipped with water dispensers, connect directly to the local water supply. Ice vending machines can be, and often are, placed in parking lots, near convenience stores, near shopping centers, parks, marinas and more. These machines produce ice as-needed, and dispense the ice directly to customers. Different technologies allow owners to manage and monitor sales, monitor the machine via CCTV, distribute special sales and discounts, and more.
The most common customers visit these machines to fill up their coolers for the day, which might include factory employees, construction workers, food truck owners, and fishing charters, or beach-goers, campers, roadtrippers, and more. Ice and water vending machines are more affordable than convenience stores and other sources, and offer a more convenient experience. The best location for an ice vending machine is along a busy street, so potential customers don’t have to go far out of their way to get ice.
There are many advantages to adding an ice vending machine to your vending business. Let’s take a closer look at each of these.
Advantages of Adding Ice Vending to Your Snack Vending Business
Since ice and water vending machines satisfy common needs—keeping foods cool and keeping customers hydrated—demand tends to remain steady, even as consumer preferences or habits change. Recessions, health food trends, inflation, and other trends generally don’t affect businesses that satisfy needs, and this can
Diversification isn’t just for your investment portfolio. Diversifying interests within your business by expanding to new markets can help you mitigate risk and strengthen your revenue stream. As consumer interests change and snack food prices fluctuate, water vending can help you maintain steady revenue and lessen the impacts of these changes.
No Inventory Filling
Ice and water vending machines connect directly to local water lines, so there’s no need to regularly fill or refill inventory. Inventory also never runs out. Ice vending machines require some regular maintenance and cleaning to ensure the ice and water is clean, but there’s no need to stock inventory or try to anticipate shifts in demand.
Reach New Customers
Just like any other business, vending businesses often rely on a core of repeat customers. This usually includes the people who are closest to the machines, usually those who work nearby or pass the machine on the way to work. This is also true for ice and water vending machines, though it can allow your business to reach new types of customers.
Reaching new customers and filling new niches allows you to reduce risk overall. For example, when millions of people moved out of offices and started working from home in 2020, snack vending machines in these areas would have suffered. With different types of machines in different areas appealing to different customers, the impact of big changes can be reduced.
Add Value to Your Business
Businesses with diversified assets and diversified risk will be more valuable long-term. If you’re planning to use your business as a way to retire, this can help you add value to your business. Or, if you’re using your business as a way to build value for future investments or future plans, using a collection of different types of machines can help expand your business with a more solid footing.
There are many advantages to adding ice vending to your snack vending business. If you’re interested in adding an ice and water vending machine to your business, contact us. Our experts can help you find an ideal location near you and set up your new or refurbished machine.
Invest in Your Retirement
Earn residual income from an investment in an ice & water vending machine.
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