Some businesses die. For example, remember when there were VCRs? This business effectively got eradicated. You, as a reader, might not even know what it is. There are some businesses that are going to get vaporized from existence. But there are a few who never will. Ironically, the ones that won’t evaporate are the ones related to water. It’s something we’ll always need. Yet, you can go the extra mile and counter the evaporation by actually freezing that water and introducing ice. Ice is constantly needed in our time. With it, an ice vending machine business could thrive if the plan was perfect.
Before you start working on this business plan, you need to know a few things.
- An ice vending machine could potentially make you money (a lot of it.)
- Alternatively, this business could result in absolutely no money.
What makes or breaks? Let me discuss this in this article, then link you to the business plan at the end for you to download. (You can immediately navigate there now and download it if you wish.)
Ice–as a business
I’ve been consulting businesses for over ten years. Some of them raised over $120 million and are widely successful. Others don’t see the light of day. The key difference between both is not them as people or companies. It’s the market.
The market is the decider when it comes to your business thriving or failing. When it comes to ice, for instance, you need to position your machines smartly. For instance, placing an ice vending machine in a very icy Canadian area could not result in a lot of demand.
While adding one in the hot desert of texas could be the reason for your success.
Hence, ice, as a business, will always be needed. The question is, will it be needed where you are placing it?
Let’s discuss how to start this ice vending machine business.
The business plan has to be as solid as ice.
Your business plan is your first milestone of succeeding in this side hustle or business. Take as much time as you need to plan this thoroughly. There is no such thing as overplanning when it comes to a business plan. The more you predict and analyze, the more your success is probable.
Ice Vending Machine Business Plan Overview
There are more sections in the full business plan linked, but these are the ones I consider worth debating or mentioning.
Market
As mentioned earlier, this is the make-it-or-break-it decider. There are many markets out there that do not want nor need you. But there are surely a few that not just want you but need you. When you reach the level of high market demand due to existing needs, then you’ve achieved the first stage of success. It would convert to a cash-making machine from there on.
Hence, if you choose Texas or Saudi Arabia, for example, start studying the market. It’s wise to find markets with competitors. You need to ensure that the area knows what an ice vending machine is and that it is a viable business to plan there.
So, contrary to common belief, competition is crucial in this business.
Operations
It’s an easy business to operate. But it still needs operations and maintenance. Running an Airbnb, for example, is also quite an easy business. Yet, it also requires constant maintenance and supervision.
A drunk person could punch the machine in the evening. You’ll need to repair it. It could get jammed. It could pour out the money instead of pulling it in.
All of those are things that could happen. Hence, a valid crisis management plan could save you tons of money.
So in this section, be as detailed as possible when it comes to how you intend to operate this business.
Go-To-Market
Followed by that, you might have everything you need, but you wouldn’t be ready to get into the market. For that, you need a strategy. Are you going to promote it? Are you going to provide the machine for free in some bars? How are you going to enter this market?
Financials
Finally, this is a business of numbers. It could be costing you so much electricity that it is a losing business. The financial model will make you understand how many machines you’ll need to break even in how long.
It would predict how much money you could be making in a few years. A business is a numbers game. Stay on top of it.
The Downloadable Ice Vending Machine Business Plan
Finally, here’s the downloadable version of the business plan for an ice vending machine. You need to open the link, make a copy, and you’ll have the plan in Google docs.
Shoot me any questions in the comments below, and have a wonderful day!
Meet The Author Of This Article
I’m Al Anany, the founder and CEO of Albusi.
I hope this business plan adds value to you. Remember, an ice vending machine or a coffee shop is all about how much money goes in and how much goes out.
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