Frequent Ask Questions
1) What would be the Joint-Venture Company (JVC) shareholder structure?
Unless with special reason, we honor the local business partner to be the major shareholder, upto 51% share; HappyIce to stay as minor shareholder (not less than 30%, upto 49%)
2) What is the required paid-up capital?
If Joint-Venture shareholder structure of 51% - 49%, local business partner to bear 51% of needed capital, HappyIce to bear 49% capital. The initial capital is primarily used on business setup and to acquire vending machine.
Required capital per city, estimate SGD 250k to 700k:
- Operation overhead: 1x van, 1x tailgate truck, office & warehouse, 2-4 staffs
- Capital to acquire 50 to 100 vending machines from HappyIce
- Vending machines’ shipping fees and VAT
3) What are the Roles & Responsibilities for HappyIce and local business partner in JVC?
- Become the main contact point to seal deal with global major ice cream brands
- Provide technology transfer and operation know-how to ensure smooth and effective operation
- Assign on-site specialist to assist new market setup, for first 2 months
- Provide continue support, via systems and remote support
Local business partner
- Overall in-charge on vending machine operation and maintenance
- Besides global ice cream market leaders, further expand the clientele to include local ice cream brands
4) Is it a must-to-have cold truck and cold room?
With our meticulously crafted Standard Operating Procedure (SOP) and the IoT capability of our vending machines, a single driver with a regular van (non-cold truck) can efficiently manage 50 to 80 machines within a city.
For city with more than 150 machines, we recommend to have cold-truck to increase operation efficiency.
Cold Room is not required
5) What is the payback period on the ice cream vending machine?
6) Without being JVC, how can I buy ice cream vending machine from HappyIce?
HappyIce does not sell vending machine to outsiders. We only supply vending machine for our own use and JVC
7) Besides ice cream, can the vending machine be used for other products?
Yes. Our frozen vending machine is built with most stringent requirement (for ice cream product which is perishable and easy melt), thus it is suitable for all kind of frozen products (cheesecake, frozen yogurt, sashimi salmon, Ready-To-Eat meal etc).
Besides that, we can change the temperature set point from -25 degree Celsius to any temperature below 60 degree Celsius, which means a same machine, can be used to sell frozen food, chill food or even hot food/drink
8) If we both sides agree to form a JVC in USA, how are we going to do the integration with local QR payment and integration with online platforms such as Uber?
HappyIce, will take charge and bear cost on performing back-end system integration to enable machines can work seamlessly with local QR payments and online platforms. Any additional need of hardware, such as barcode scanner or higher broadband bandwidth, will be additional cost.
9) Understand that HappyIce will focus in SouthEast Asia for 2024, we are interested to become JVC in UK, what is the timeline and milestone it needs from zero until start operation in a new country?