Ice vending is becoming a serious contender for one of the best passive income businesses an entrepreneur can run. With the business expected to be worth around 146.6 billion dollars by 2027, it’s no wonder other people want to join in on the party.
An investment of $1500 can net you up to $71.000 per year and all with selling bags of ice. But, as with any business, you need a sound marketing plan to reach out to the masses.
Below we are going to cover every aspect of promoting your ice vending business and include some tips for success as well, read on and take notes.
Start with the budget
First things first, you need to decide how much you are willing to spend on a marketing campaign for your ice vending business. You can opt for full-on commercials or cost-effective marketing through social media.
Don’t be afraid to research the industry and take a glance at how your competitors are advertising their business. You can always get inspired and then put your own spin on things. A general rule of thumb is to never exceed over 5% when allocating the budget for marketing. The idea behind the ice machine business is to make a lot of money passively, so you don’t want to break the bank putting it out there.
In addition to the marketing budget, it's important for business owners to set aside funds for business registration, The easiest way to do so is by working with a business formation agency, as per this GovDocFiling Incfile review, which is one of the best business formation services companies.
Decide the target
Hotels are always in need of ice, so you might want to start reaching out to them and offering your services. Of course, if you already set up your ice machine business near a hotel or convenience store, they are most likely your customers already, if not consider expanding to maximize the potential profit.
Establishing where and who you are going to target is the most crucial step that will potentially lead to a significant amount of passive income.
Make your ice vending machine cool
What is more recognizable: a plain and bland ice vending machine business or one with an Instagram account. Instagram is a unique marketing platform that provides useful features that can propel your ice vending machine business to new levels.
With more than a billion monthly users, you can rest assured that this is the right place to market your passive business. If you are wondering how to promote your Instagram and convert followers into customers, we have that covered as well.
Right off the bat, set your account to a business account so that you gain access to Insights and Instagram ads. You can use Instagram ads but, if you are looking for a way to promote your passive business without spending much, your main focus should be high-quality content.
Create content with the Story features and incorporate educational information about how to use the vending machine. Think of a cool hashtag that will represent your business brand and make it easily recognizable among the other ice vending machines.
Let the quality speak volumes
Nobody will come back if clumps of ice are stuck together and your ice tastes off. Ice is usually used for drinks and if it changes the taste of the drink, you are likely to lose loyal customers.
Make sure that your ice is top quality by using filtered water so that no stale taste is present in the precious cubes.
Maintain your machine
A functioning machine will promote itself due to its convenience and effectiveness. Keep your equipment in working order and pay attention to the cleanliness of the machines so the ice isn’t affected. Exercise due diligence when you are searching for a maintenance company and look for the best deals.
In addition to that, make your ice vending machine smart and app supportive. This will allow you to have a better overview of the overall state of the machine and how much money you are making. Adding to what was discussed previously, with apps, you can use social media to offer special promotions to followers only and drive more traffic your way.
Furthermore, you might want to consider adding multiple languages to the interface of your machine. Depending on the area, you should consider adding French or Spanish as a language so that anyone can grab a bag of ice.
Add a cool design to your machine
Make your ice vending machine stand out and break the ice with a cool design representing your brand on the machine itself. You can opt for trendy art styles that will feature your logo, or simply go traditional and put cool designs with ice cubes on the machine.
Having a unique ice vending machine will lure in potential new customers far more easily than having a bland machine without a style.
Ice vending machines are becoming more popular than ever as they are a great source of passive income. More and more people look for a way to supplement their monthly income for the sole reason of improving their quality of life.
If you are looking for a simple side hustle and you have a few dollars to spare, consider investing in an ice vending machine and hopping on the gravy train.