Have a great product? Fun personality? Do you want hundreds of people to see your product or try your service per day? The mall is a fantastic place to do that, and considering buying or renting one of those mall kiosks may be just the right thing to do.
Here are few tips for getting started with a mall business.
- Start with a kiosk. Why? It’s much less investment than trying to rent or purchase a space in the mall. It is a safer bet to try something smaller, and then if the business goes well, you can look at expanding.
- Research the mall. The demographics of the community that surrounds it will influence who is shopping at the mall and what sort of stores and products will have better success. It should be in a high-traffic part of town, with both foot traffic and cars.
- Make a concrete business plan that outlines your research – profit margins, product demands, and more.
- Make sure you have the proper licenses and permits. If you’re planning on opening a food kiosk, for example, then you need to have food handling permits and more.
- Contact the leasing office for the mall and ask about the requirements of setting up in the mall. Agree on a start date that gives you enough time to receive your inventory and set up properly.
- Order your inventory from the suppliers you have chosen. You should have stock for two to three months of product and then you can watch sale patterns and order accordingly.
- Set up and organize your kiosk and set up attractive displays. There are many ways to attract customers – from friendly personnel to a free demo or sample when opening. You can also consider giving discounts or coupons.