00:03I went from tending bar to owning and operating a multi-million dollar cocktail ice business.
00:10I recognized early on that it was perhaps the most important and overlooked ingredient in the
00:17modern cocktail. My name is Richard Boccato. I am the founder of Hundredweight Ice in Queens,
00:25New York City. Our revenue in 2024 was $2.5 million. We are set on course to significantly
00:32surpass that number in 2025. You make a lot more money hustling frozen water than you do
00:39selling fancy cocktails. I'll tell you that. So I was working as a bartender at two bars in New York
00:52City. The owner asked me if I wanted to go into business with him and that's what led us to
00:57open
00:58Dutch Kills in 2009. When the day came, we opened the chest freezer and what was revealed to us was
01:05a rusty brown block of cloudy ice. So we decided to source crystal clear blocks of ice that we got
01:14from a local ice sculptor. People were excited about the opulence and beauty and clarity. At times,
01:21people were unable to determine that there was actually ice in their glass. So we bought a machine
01:27and began freezing our own crystal clear blocks. In the early days, it was chainsaws and clothing irons
01:34because that's how we could crease the cubes perfectly. If I had walked into that room, I would
01:39say these people have no chance of survival, but their cocktails are really good. Just about every night
01:45during service, somebody would ask me if we would consider selling this ice to them. But we knew
01:51that we did not have the infrastructure. And yet, we decided to do it anyway.
01:58We start roughly between five and six in the morning. You have to stand in the cold for the majority
02:05of your day. And you're not only expected to engage in heavy lifting and heavy machine operation,
02:13but you also have to be cognizant and aware of everything that's happening all around you.
02:19So this is the main shop floor where we have all of our block makers that produce our raw product,
02:26which is our 300-pound blocks of crystal clear ice. On average, you're looking at between $5,000
02:35and $7,000 per machine. So this is the first step of the process, filling up the machine
02:41with New York City's finest tap water. And then we filter significantly. Everybody knows we make the
02:48best bagels and the best ice in New York City because of the water. So the pumps circulate, which
02:55prevents oxygen bubbles or any impurities that form within the block, which lends the final product
03:02a crystal clear aspect. One way to tell if they're ready is by doing that. As you can see,
03:12the clarity of the ice is indisputable. You're going to have residual water at the end of the process.
03:18So we vacuum out what's left and then we can hoist the final product.
03:32We harvest 3,120,000 pounds of ice each year. The harvesting process is probably the most precarious
03:43process within the entire production because when the blocks come out of the machines,
03:49they weigh about 300 pounds. And then from there, that block goes into our storage freezer,
03:57where we let it temper and we wait a little while before we start cutting the raw product.
04:08The first step is a modified chainsaw. So it's very similar to what mill workers will use. People
04:14who are chopping down trees, that's what we use.
04:20So on average, we're cutting 15,000 two-inch cubes per day. That's just two-inch cubes now. We have
04:28completely different offerings, completely different products that we're also cutting by the tens of
04:34thousands. We are very careful. We all have 10 fingers. Look around. So just an example of some
04:41of the things that we use. Our horizontal ice mill, we use that to make our slabs. So a machine
04:48like this
04:48that will run on the high end, $5,000, we use it to just get very even cuts that we
04:56then transfer to
04:57the bandsaws that you would use for lead processing, essentially, although it has never been used for
05:03that purpose. So it is pristine and free of DNA. The cost of the average bandsaw that we use can
05:12range
05:12anywhere from $5,000 to $20,000.
05:17So this machine is a CNC router. It stands for Computer Numerical Control. This is the machine that we use
05:25for custom engraved ice. And it operates with a very high speed router that moves at very high RPMs to
05:34engrave logos we program or design into the software for our clients. The machine itself, the frame, the
05:42electronics, you can get upwards of $50,000 to $75,000. Logo cubes are the most expensive. The average
05:51cost, let's say two or three dollars per cube, but it can be way more than that. One of our
05:57most
05:58expensive orders to date was an order for 50 packs of Logo cubes for $4,500. Another very expensive piece
06:09ice that we make are the spheres with the flowers. That can be $5 to $6 per sphere.
06:21There were many people who initially doubted the viability of this business,
06:26but we are currently delivering ice to between 10 and 20 Michelin-starred restaurants and our clients
06:33in New York City number in the high triple digits. Now it's time to deliver some ice.
06:43We're going to a place called the Rosevale Cocktail Room, which is a new client and also a new
06:51bar. The beverage director is Willie Shine, who is a very good friend of mine from back in the day.
06:59He has a big beard, but an even bigger heart. I heard you guys make really good cocktails here.
07:06What's up, buddy? How you doing?
07:08What's up? Good to see you.
07:10You too.
07:11That's a lot of ice.
07:13Behold. Look at that.
07:16Let's see, how long have I known you, man? It's been a minute. I mean,
07:19the one thing I could say about Richie, whenever he commits to something, it's literally all in.
07:26We started this all those years ago by bartenders for bartenders so that our people could make the
07:34best possible cocktail. And now all over the world, it's almost obligatory to go into a bar and see
07:41a big ice cube, which is beautiful because it means that all the things that we did all those years
07:46ago
07:46changed the way people are drinking now, 20 years later.
07:49And listen, I travel a lot. When people are using big cubes, I'm like, you know where this all started?
07:55I was in New York City with my man, Richie Piccato.
08:01We had less than 10 clients when we first started this business. We told no one.
08:07You told no one?
08:08Told no one.
08:09So what happened?
08:10The word got around. Word of mouth, completely word of mouth. This business was built upon our
08:15reputation as bartenders and nothing else. We've never paid a dime for advertising. We have never
08:22sought out any paid publicity. Everything that has ever sustained the success of this business
08:28has been done upon the merits of the product itself. So that's how we built our business.
08:34We've shown loyalty to our clients by never raising our prices a penny since 2017.
08:41More so than client retention, I think employee retention is one of the most important things
08:47that we can boast about this business. So our first full-time employee was hired in 2012,
08:54and his name is Pedro. He's still with us today, and his sons are with us today.
08:59And I could have no greater pride as a businessman knowing that fact.
09:03I worked here for like 12 years with him. He takes care of you. If you need any help or
09:11any
09:11problem, he can help you. He's a very nice person. The best.
09:15I try to lead by example and respect the people that have shown loyalty to the business because
09:22it's not how many ice cubes you sell every year. It's the people that come here every day and bring
09:29their talent and their love and their elbow grease. Because without that, we don't succeed as a business.
09:38You want me to cut this much?
09:48Never at any point when I was a bartender would I ever have imagined that I would be a business
09:53owner
09:53one day. The major operating costs for this business are labor, rent, utilities, insurance,
10:01and the expenses that are associated with the deliveries. Utilities, water, power are between
10:08three and four percent of our operating expenses. And then our freezer vans that we use to deliver
10:15ice throughout New York City cost on average between 80 and 90 thousand dollars.
10:22New York City cost. Aside from the initial cost of the vehicle, they have to be outfitted to carry
10:28the freezer equipment and also be insulated, have adjustments to the motor and to the suspension
10:35in order to make it sustainable to deliver ice all day. Over the past 12 years, we've seen a steady
10:42revenue growth of between 37 and 38 percent each year. And average monthly revenue for the first nine
10:51months of 2025 has been $225,000 a month. So our brand recognition is undeniable at this point,
11:02given all that we've done for the game. We are the premier cocktail ice company on the planet. So if
11:11I
11:11were to put a number on the valuation of the business that we have built, that number would be easily
11:17between 15 and 20 million dollars. Since we started this business, in this country alone, dozens of
11:25companies like ours have opened, essentially imitating our business model. If they don't operate in my
11:34neighborhood, and they're not trying to eat my lunch, then more power to them. Intellectual property is
11:39very, it's tenuous. You can't really patent an ice cube. You can't trademark using a bandsaw to cut an
11:46ice cube. It's just not possible. And that's good because that that would be very un-American.
11:54At a certain point, it dawned on us that we're not bartenders anymore. We're ice men now. And that's a
12:01difficult transition to accept, but also was very empowering because that meant that we had succeeded.
12:10Every time I get behind the bar today, I still feel the same inclinations and exhilaration and
12:18obligation to honor my training and my pedigree every time I shake or stir a cocktail.
12:25Being in New York City where I've lived my entire life and making people happy with their drinks that
12:33they're enjoying at their favorite bars and restaurants, I could only imagine doing that somewhere
12:38else where that might be appreciated, but I think that in a city of 8.2 million people that I've
12:43always called home, this is more than enough. Josh? Richie? I'm in the middle of this video shoot,
12:52and I'm about to use this f***ing beautiful chisel that you made me to cut some ice for Business Insider.
12:58Enjoy. I've been wanting to make you that for f***ing ever.
13:03It is f***ing beautiful, and you're going to see it all over the interwebs very soon, I promise.
13:08I don't know if you're going to be careful.
13:08I just energy.
13:09I'm going to do some other things.
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