A new business model gives birth to a new industry.
In this week’s model of business, I cover a model which has attracted me a lot .
“Coffee Vending Millionaire’s”
This model of business seems so simple but definitely, may not look lucrative and charming until we get to the root of it. This business definitely serves the need of the hour in many organizations. This is a very prominent and successful model in the developed parts of the world but in India it has just started to blossom.
Organization’s Need :
They want their employees to spend more time for the organization and reduce time of breaks the employees takes, and does not want them to fool around in the food courts during breaks. So, they wanted to bring in the coffee very near to the workplace but there was another problem of adding another responsibility to their portfolio of maintaining the machines and the additional manpower for maintenance. So the need of the hour for the organizations is “a coffee vending machine and a manpower to maintain it and to manage it all”.
The need was understood and it has been answered by giving birth to a new business model.
The coffee vending machines are imported.
A standard price per cup of coffee is calculated
The machines are installed in the organization.
The coffee is self-served to the employees .
The number of coffees served is shown by the machine itself, and the money is collected from the organization based on that count or by some agreement/terms. Various other beverages are also added to the product line . Thus,Forming a chain of vending machines in various organizations and rapidly expanding their base and Thereby, churning money out of coffee.
The industry is in a blossoming stage at the moment and definitely has a high reach and a very high potential of growth. The amount of competition is very low, but many local players are coming in and knocking the door . The competition is just now heating up and this is definitely an industry for High Growth.