April 21, 2023

Things To Know Before Expanding Your Ice Vending Business

Things To Know Before Expanding Your Ice Vending Business

When people first get into the ice vending business, they usually don’t realize how profitable it’ll end up being for them. This usually leads to them expanding the business to make some more cash on the side.

However, before you jump right into it, there are some things you need to know before expanding your ice vending business. This short guide will cover the main things you should consider before coming to a decision.

Expand Your Current Offerings

Before you start buying new machines, you should consider your current offerings. Most of these machines only offer ice to customers, but you could just as easily sell fresh water to them. That’s why your first move should be to expand into the ice and water machine business. This will be a way to make even more money per machine in your network.

Don’t Put Your New Machine Too Far Away

Once you get your new machine, you’ll need to find a good location for it. While you’ll definitely want to take this opportunity to expand your reach, you’ll want to make sure you don’t move it too far away. Even though you’ll likely find new customers this way, it’ll make weekly check-ups on the machine much harder.

Any further than 30 minutes away from your home will be a problem for you down the line. Even if you don’t mind the drive, the more you expand your business, the further away your machines will be from each other. If you don’t plan on hiring an employee to help with all of this traveling, you’ll want to be sure to keep your new machines close by.

Don’t Set It Up Too Close to Your First One

However, you won’t want your machines to be too close, either. If you set up your new ice and water vending machine too close to the one you already have, you’ll start cannibalizing its sales.

That means the people who visit your new machine will likely be the same ones who used to go to your old one. This won’t give you the increase in sales you desire. Instead, it’ll simply spread your current profits across your new and old vending machines.

Use Online Marketing To Build Awareness

The final thing you should know before expanding your ice vending business is that now is the best time to start marketing your machines online if you haven’t already. By letting potential customers know you have a full network of vending machines with new ones close by, they will be much more likely to use your services.

If you have already started online marketing efforts, this will be the perfect time to expand them. Using social media to advertise your new location and SEO to increase the scope of your business are solid ways to help your small company expand. Regardless of how you go about it, finding new customers online is the best way to grow your business.

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