"How much money can I make with a Shaved Ice business"?
I get it - it's the biggest question you have for me. My answer? I don't know - but let's try to figure it out.
The reason I don't know the answer is because I don't know where your business is located. Sales for a typical shaved ice or snow cone business will average around $100 to $2,000 a day but it all hinges on a number of factors including location, competition, length of your season and business history. Every business is different and I'm sure business in Hawaii sells more than a business in Chicago. Right?
Wrong. The business in Hawaii might have TONS of competition and they may sell from a dark alley. The business in Chicago may be the only shaved ice business in a 50-mile radius and the staff could sell ice to Eskimos. Take every factor into consideration.
Below you will find an example of a profit and loss analysis for a typical shaved ice business. Please remember, this information is only provided as an example for those interested in opening their own shaved ice businesses. I'm not guaranteeing anything with the figures below - I'm just purely showing you how to make your best profit estimate.
I have estimated the cost of goods sold (COGS) in the table below at a very generous 12%. COGS includes anything that is sold with a cup of shaved ice. This would include the ice, syrup, cup, spoon, spoon straw and napkin. I've done a similar article on how to calculate cost of goods sold.