What You Need to Know to Find a Successful Kiosk Location
So you have a great idea for a kiosk or a stand, and all you need now is a place to park it where the customers will be plentiful. Kiosks are a great way to start off your career as an entrepreneur. With less overhead required than renting a store lot, they provide a quick return on your investment. But smooth sailing is not guaranteed. There are some factors that can spell death for your business before you even get started.
Having a good idea is half the difficult job done. But do not neglect the second half: that of placing your kiosk in the right location. As is often said, it’s all about location. A person dying of thirst will buy water no matter its price.
Here are some steps to take that will help you find the best location for your kiosk and get you off on the right foot.
- Who is your target audience?
What type of shopper will be frequenting your kiosk? If your kiosk sells icecreams, then placing it near a mall’s indoor play area is a smart move. Sunglass stands tend to do well in front of apparel stores, as the target customer is a fashion-conscious person. Of course, not all kiosks will have such a clear and easy connection. For example, say you want to open a coffee stand, or a photobooth, what then? Thankfully, there are experts who can help you locate a place with a steady stream of potential customers. For example, Westfield Specialty Leasing is one such expert. It is in the best interest of mall organizations to have successful businesses in their malls. And often they can provide you with insight on the type of customer that you can expect for your product.
- Compare locations.
Once you have a good idea of who your target audience is, you want to find a high traffic location for your audience. Look for numbers of exactly how many people visit the mall, ballpark, community center, or waiting area that you are considering. Even if you manage to get a prime, well-seen location, if you don’t have enough visitors to that area, then you won’t be making any money. You might need to do some digging to get the hard truth, but every bit of time and money invested here will be worth it in the end.
- Learn all you can about your kiosk lease.
Depending on your budget, you might not be able to afford some higher-traffic areas.Do some number crunching to figure out what monthly targets you will need to hit to turn a profit. Also, see what wiggle room you will be allowed as far as your lease agreement goes. For example, will the lease price increase over the holidays? How long does your lease agreement last before you need to renew? What kind of storage options are on offer? What other additional fees are connected to your lease agreement? Keep in mind, kiosk owners are often required to pay for mall maintenance of common areas, etc.
While one location may look perfect for you, the fees involved might mean that you have less take-home money at the end of the day. Make sure to ask about all related fees before signing.
- Ready, set, go!
Once you have signed the necessary paperwork, make sure you also have a business license if required for what your kiosk is selling. And that you are in compliance with any other guidelines in that regard.
On opening day, have a marketing campaign in place. Make sure your staff are all well prepared too. Your kiosk is your storefront. You are competing with many other stalls and shops for shoppers’ attention. Having a great display will go far in making your kiosk shine. Get your cash register ready, and be prepared to sell!