Overview of Ice Vending Industry
Twice The Ice is a leading ice vending machine brand in the USA. Its patented ice production mechanism differs from competitors. We’ll summarize advantages and drawbacks of some alternatives to see if Twice The Ice is better.
The Ice Depot claims affordable, simple, reliable machines. But likely differs in production amount and maintenance needs.
Factors Affecting Profit
Earnings vary based on machine type, location, and ice demand. For example, renting a large commercial machine could bring $100-$300+ per day. Alternatively, selling bags of ice to stores from a smaller machine also brings income.
Customer traffic largely determines vending machine profit. Good locations target high-volume ice buyers like parking lots, marinas, construction sites, colleges, etc. Bag prices range $1.50-$3.
Financial Details
Sonic sells 10-pound bags for $1.99. In 2022, Twice The Ice brought $560,000 in revenue. The company sold to New York investment firm Ulysses Management last year.
Profit also depends on proper servicing and maintenance. Well-functioning machines produce more ice, raising sales and revenue. But around $100 daily revenue is common.
Machines cost $20,000-$100,000+. Variable bag costs are around $0.15. By charging $1.75 per bag, profit is about $1.60 per bag.
Installing the machine has additional costs like land leasing, site work, parking, etc. But the ice vending industry is growing quickly, so monthly profits around $3,000-$3,500 are possible.