How to Open a Kiosk
There's no need to purchase or rent a storefront when you want to sell retail products. Opening a kiosk business is an alternative way to move into retail without overwhelming start-up costs. With a kiosk, you can enjoy low overhead and the chance to provide personal service to your customers. To get started, you'll need to put careful thought into deciding what to sell, where to locate your kiosk and how to price your products to ensure profitability.
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Instructions
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Research popular kiosk businesses to learn what they are selling, to whom they are selling and how well their products are selling. Though you may decide on a different product, learning which commodities are currently most profitable and in demand may help you to make an informed choice. Additionally, you may notice that some products have too much competition, and choose to go in a different direction with your kiosk.
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Brainstorm to determine the types of products you are most interested in selling. You may narrow your list of kiosk product possibilities by choosing those most in demand, profitable and highest on your list of interests. While you could make your decision based on demand and profitability, you may be more successful at selling a product if you have a genuine interest in it.
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Pick a good location. You can boost your chances of success by choosing the location that has the highest foot traffic. Malls, airports and sports venues are often good choices. You may also choose your location based on the products other nearby kiosks are selling. Generally, you won't want to be positioned close to a kiosk selling the same product, or even one similar.
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Negotiate a lease agreement with the lease manager of the property in which you will run the kiosk business. In general, you'll want a lease payment low enough that you can pay it as you work to get your business started and during times of slow sales. You may also negotiate competition restrictions. For example, if you will sell perfume from your kiosk, you may ask the lease manager to prohibit other perfume kiosks from opening in the same area. If the manager will not agree to restrict other perfume sellers entirely, you may negotiate to limit the number of competitors nearby.
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Negotiate prices with suppliers. You may be able to secure a discount for the products you will sell if you buy in significant quantities. Likewise, some suppliers may offer discount or free shipping that reduces your costs. Additionally, you may negotiate return terms that allow you to recoup money on products you fail to sell.
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Set prices for products you will sell on your kiosk. You'll want to set your prices high enough to make a profit, but low enough to outsell the competition.
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Arrange your kiosk to attractively display your products. Avoid cluttering your kiosk as this makes it harder for customers to see what you are offering and make a selection. Place your most in-demand and profitable products in the most prominent positions.
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Draw customers to your kiosk. You may do this by passing out handbills and directing customers to your kiosk. Passing out free samples may help as well.
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Tips & Warnings
Don't try to compete with large retailers. This will be hard to do from your kiosk. Instead, focus on providing excellent customer service and unique items to keep customers coming back for more.
References
- Photo Credit money makes money image by Andrey Andreev from Fotolia.com
