Starting a Vending Machine Business: 20 Questions Answered
Starting a vending machine business is a big deal. Where do you even begin? The Small Business Association has a lot of resources to help you, including this list of questions you should answer before opening your new business.
Sometimes these extensive lists can feel a bit overwhelming, so we’ve gone ahead and answered them for you.
Maybe you want to start earning money for yourself, not your boss; maybe you are looking for a way to earn an income while spending more time at home with your family; maybe you’ve always dreamed of having your own business, but you realize the cost of a brick-and-mortar storefront and the stress of hiring employees isn’t for you. Maybe you want an investment that lets you see cash start flowing in on Day One. All of these are reasons to start an Ice & Water Vending business.
Do you want a business that you can run in your spare time? One that requires a low-capital investment to start, and generates high-margin profits? One that doesn’t require special technical knowledge? One that doesn’t need employees? If the answer to these questions is YES, ice vending is one of the only businesses that fit the bill.
If you want to start a business selling something, sell something EVERYONE needs! In the ice & water vending business, your customer is anyone who needs fresh ice or filtered water. That’s just about EVERYONE!
This is a really easy one: ice & water. A product that everyone needs, and one that they will buy again and again. You’ll also be providing your customers with the convenience that only vending provides.
This one we can’t completely answer for you: All investments require time and money, and we will do what we can to help you feel comfortable with your answer to this question. There aren’t many businesses that require LESS time and money other than Ice & Water Vending. If this business is too expensive or an hour or two a week is too much time, maybe you should reconsider if owning your own business is for you.
The ice that is sold today is typically sold in a grocery or convenience store. That ice was made in a far away ice plant, shipped in a big truck, and stocked by an employee. The ice is kept in an ice merchandiser and is only restocked when needed. The ice bags on the bottom row could be left over from last July! Ice & Water Vending offers your customer a better product. One that is made fresh and on-demand. With a delivery system that customers love. That’s why ice vending is a 21-year-old business. Better. fresher. Cheaper. That’s how to succeed in business!
One of the many benefits of ice & vending is that you don’t need a storefront – just a small amount of retail space that is accessible to your customers. You can put your new Ice & Water machine just about anywhere! It’s literally a business in a box. And we can help you find the right spot!
None. The machine produces and sells ice and water without having a paid employee present.
Once you have your machine set up, you’ll only need to supply ice bags to your customers and change the filters in your new machine. Everest stocks all the bags you need, as well as replacement filters. We’ll even introduce you to the manufacturer so you can buy direct! We’re here to service and support you, not try to profit from your business.
Everest Ice & Water offers different promotions throughout the year, changing the amount of money you need to get started. The best way to get the answer to this question is to call an Equipment Specialist and ask.
We’ve partnered with VendLease to help you with any financing you may need. They have financed hundreds of our customers. Feel free to reach out to them and ask any questions you might have.
Learn more about Financing options by clicking here.
Everest Ice & Water machines typically have a 6-8 week lead time which can grow longer or shorter depending on seasonality and demand. Contact your Equipment Specialist to see what our current lead time is.
This is another question you want to ask our Equipment Specialists! Like any investment, there’s no guarantee of when you’ll start making a profit. However, you will start making money on Day One, and you get to set your own prices. Most of our owners show a profit month one! How much money you make is all up to you.
Your local grocery and convenience stores. We can help you find a great location that customers will find and return to. Your Everest Ice & Water machine will be more dependable than any other machine, and it will be a lot more desirable to your customers than the bagged ice they have to throw down on the gas station parking lot to break up before putting it into their coolers.
Once you have your location, check out the local grocery and convenience stores in your area; price yours so that you’ll be competitive, but still make a profit. Remember, you can change the price of your ice and water anytime with the Everest Remote Management System.
This is all up to you. The SBA has some information on the different types of business structures here to help you determine what is right for you.
Click here to learn about determining the state and federal tax obligations your business would have.
Since you don’t need any employees to help run your Ice and Water vending business, you won’t have to pay workers’ compensation or unemployment insurance. To learn more about business insurance, click here.
With a subscription to Akoona.net’s remote monitoring system, you can manage your business remotely! You will want to check on your machine periodically to ensure your customers have ice bags available to them, but this is an otherwise low-maintenance business venture.
Without a subscription, you can still directly connect your laptop or tablet to your machine to assess any issues. Everest also offers live phone support to all of its customers 24 hours a day, every day of the year.
Ice and water pretty much promote themselves. If you have a brand already, or are interested in creating one, our In-house graphic designers can help you create a unique look for your machine with our Custom Branding Package. Everest is the ONLY company that will allow you to create your own custom look. Especially as you decide to grow your business by adding machines and locations, your unique look will allow you to build your own brand.