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Anybody ever look into owning one of those ice house vending machines?
Posted on 4/5/18 at 9:49 am
Posted on 4/5/18 at 9:49 am
The margin has to be insane on these things with relatively no time investment required. With the right location it seems like you could make a killing with a few of these.
4
Posted on 4/5/18 at 9:51 am to UpToPar
Market is over saturated. You could say that it isn't really a hot investment anymore; rather it's likely cold in most areas.
Posted on 4/5/18 at 9:53 am to jimbeam
quote:
Market is over saturated.
I've thought about this, but of all the places to have one, there isn't one right off campus. Seems like you could put one on the south side and north side of campus off nicholson and print money during football season.
Posted on 4/5/18 at 9:56 am to UpToPar
There's one on Lee across from papa johns that is $1.00 for 20lb. Best deal on ice anywhere.
I'd imagine the locations you mentioned would fetch too high of a buying price or rent.
I'd imagine the locations you mentioned would fetch too high of a buying price or rent.
Posted on 4/5/18 at 9:57 am to UpToPar
quote:
I've thought about this, but of all the places to have one, there isn't one right off campus. Seems like you could put one on the south side and north side of campus off nicholson and print money during football season.
Thanks, I’m getting the ball rolling on that now. I’ll let you know how it works out.
Posted on 4/5/18 at 9:57 am to UpToPar
How much are the things and what's the maintenance? I assume they make their own ice?
Posted on 4/5/18 at 10:08 am to castorinho
quote:
Here's a thread discussing it from a few years back LINK
Thanks. Looks like maintenance cost would be the biggest hurdle.
Posted on 4/5/18 at 10:10 am to TechDawg2007
quote:
How much are the things and what's the maintenance? I assume they make their own ice?
They make their own ice. The big ones are $150K. Not sure on the maintenance costs, but that looks to be the biggest downside.
Someone in the other thread made a good point. If you have access to a generator you could make some nice coin during hurricane season. Most of the machines sell water as well.
Posted on 4/5/18 at 10:12 am to UpToPar
I live in Nashville and haven't seen many of these (if any) around. Downtown Nashville would be a perfect spot for these. We have Vanderbilt games, Titans games, outdoor concerts, and a river.
Posted on 4/5/18 at 10:13 am to UpToPar
Over saturated. Unless you own the property like own a gas station, I'd run not walk away. Non profit I work with owns one, and we are trying to sell it now actually.
Eta: rent can be a huge expense as well. Commercial rent isn't cheap, and you are competing with others that sell ice so convenience stores, gas stations, grocery stores, pharmacies, etc. don't want you in their parking lot.
More work than you'd think also. They only hold about 300 bags, plus they only hold about $300 in change and about $200 in dollar bills. Most people want bagged, so if you are selling 50+ a day then you are refilling bags multiple times a week. If you are selling 100+ a day you are doing bags often.
Our location sucks though. We moved it from probably a B- location to what has turned out to be an F location. Quarterly water checks, maintenance, retrieving cash, refilling bags, etc. if you are busy you are talking 5 hours a week. Not a ton, but by no means none too.
Eta: rent can be a huge expense as well. Commercial rent isn't cheap, and you are competing with others that sell ice so convenience stores, gas stations, grocery stores, pharmacies, etc. don't want you in their parking lot.
More work than you'd think also. They only hold about 300 bags, plus they only hold about $300 in change and about $200 in dollar bills. Most people want bagged, so if you are selling 50+ a day then you are refilling bags multiple times a week. If you are selling 100+ a day you are doing bags often.
Our location sucks though. We moved it from probably a B- location to what has turned out to be an F location. Quarterly water checks, maintenance, retrieving cash, refilling bags, etc. if you are busy you are talking 5 hours a week. Not a ton, but by no means none too.
This post was edited on 4/5/18 at 10:15 am
Posted on 4/5/18 at 10:14 am to UpToPar
Maybe I’m crazy, but $150k in startup costs on a $1.50 item just seems out of whack. Especially for something that’s rather seasonal.
Posted on 4/5/18 at 10:16 am to Golfer
quote:
Maybe I’m crazy, but $150k in startup costs on a $1.50 item just seems out of whack. Especially for something that’s rather seasonal.
It is. They were a lot cheaper in the beginning. The companies are smoking dope at the new prices.
Eta: I'll also tell you that if you live in a town with 1 and it's successful, the owner would have multiple there if the town is big enough. There's no reason not to have multiple outside of financing but if you have 1 successful one you can likely finance a 2nd or 3rd. The only places I'd look into them is somewhere another owner likely hasn't considered like a small town without one.
You want a location where you have a lot of residences but also is close to something like a lake where people buy multiple bags.
This post was edited on 4/5/18 at 10:22 am
Posted on 4/5/18 at 7:27 pm to baldona
quote:
The only places I'd look into them is somewhere another owner likely hasn't considered like a small town without one.
One of the first ones I saw is in a small town with few stores but lots of oil and gas activity. Been there for years, Noticed they now get $2 a bag on that one, and there is a second one on the other end of town. Those truck drivers and well service guys must use a lot of ice. I bet the rent is cheap, but if you don’t live there you have to drive there to service it or hire someone.
Posted on 4/5/18 at 10:41 pm to Twenty 49
I quit buying ice from them. It is always wet ice and melts so quickly. Ice out of the freezer at the store seems to last much longer.
Posted on 4/5/18 at 10:46 pm to Cool Hand Luke
quote:
I quit buying ice from them. It is always wet ice and melts so quickly. Ice out of the freezer at the store seems to last much longer.
Every single one I every tried to buy ice at had a problem, was out of bag ice, no ice period, card gizmo was broken, don't bother to even stop anymore, just go to a convenience store.
Posted on 4/6/18 at 12:02 am to Cool Hand Luke
quote:
always wet ice and melts so quickly.
I have the same experience. It's like its one degree from being water. Local gas station has ice in freezer for 1.25 10lb so I usually go there.
Posted on 4/6/18 at 10:34 am to Cool Hand Luke
quote:
I quit buying ice from them. It is always wet ice and melts so quickly. Ice out of the freezer at the store seems to last much longer.
They don't actually have a freezer, just an ice maker and a bin. That's why. So the ice isn't actually kept freezing, it just stored in a partially insulated plastic bin and the ice maker constantly is working to keep the bin full.
I agree about them having issues. I know a lot of people stop using them and certainly stop relying on them as a last resort. So if your machine is not close to their house with other options, then people won't wait to use it. You don't want to wait until the last resort before the boat ramp to get 60 lbs of ice and the machine be down.
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