Vending

Thai vending company reports fast growth, will offer franchises

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November 23, 2021

Sun Vending Technology in Thailand is growing in double digits as consumers use vending on account of the coronavirus, and plans to expand, according to a Bangkok Post report.

Company sales rose 11% year-on-year in the first nine months of 2021 to 1.45 billion baht ($44 million), netting 52.84 million baht ($1.6 million) in profit, 13% over last year.

Pitsnu Chokwatana, senior vice-president, said the company plans to spend 640 million to 680 million baht ($19.37 million-$20.58 million) to expand its vending machines across the country from 14,600 units to 20,000 by 2023.

The total number of machines in Thailand was estimated at 30,000 in 2020.

The company plans to begin franchising next month, Investors will pay a 600,000-baht ($18,160) franchise fee for the 30 machines or 1 million baht ($30,000) for 60 machines.