Many people are struggling in the current economic climate. They’re losing jobs, working for bosses they can’t stand, and doing work that they hate. But every day thousands of people start their own business or franchise. If you choose this path, it’s important to first take some online classes in business so that you can be sure you’re ready to manage your new company.
It’s true that there are many business opportunities, but very few of them are as easy to start as a kiosk business.
Kiosks are a $10 billion industry. They can be set up inside office buildings, airports or malls. They can also be located outside on street corners or stadiums. Products can vary from food to magazines. Advantages include flexibility: products can change easily. Rent is also relatively cheap and averages about $600 per week. Kiosk start-up costs are between $6,000 and $10,000.
Regardless of the products you choose to sell, there are certain procedures involved in starting any kiosk business. First, you must decide to take the plunge. Visit other kiosk owners and find out how they like the business. Take the time to make sure it is something you want to do.
Next, decide which product(s) you want to sell. Pick something that interests you, and make sure there’s a large target audience for your product.
Locate a supplier for your kiosk business. You’ll obviously need to purchase your products wholesale. Make sure your prices are in line with other nearby vendors. You’ll want to choose a supplier based on the best wholesale unit price. Suppliers can be located online, in business publications and newspapers, or through business brokers. Make sure you research the supplier and verify that he is legitimate. Check with the Better Business Bureau where the supplier is located to see if any complaints have been filed against the company.
Decide on a location. Choose a heavy traffic area based on the type of product you sell. If you want to sell sports merchandise, a stadium is your best location. You’ll want to sell according to the season if multiple sports teams play at the same location.
You’ll need to acquire a business license for paying sales tax. If you haul your kiosk around as a trailer, you will also need a license from the Bureau of Motor Vehicles.
Get your kiosk organized and prepare for the grand opening. You’ll to create some sheets to track purchases and sales. You’ll also need a ledger to record revenue and expenses.
Advertise your business every day, and while you’re getting established you may want to pass out coupons and free samples. Other fresh marketing ideas are often taught in online business marketing courses. Hire friendly, competent staff and keep your prices reasonable, and you’ll give people a reason to come back.