How to succeed with a shopping mall street kiosk business
How to succeed with a shopping mall street kiosk business
Retail businesses can be very competitive in this day and age. Any retail business thrives only when there is sufficient traffic. Off line retail businesses depend quite a bit on foot traffic for their customer base. It is for this reason that establishing a brick and mortar retail business in an established shopping mall environment is highly attractive to potential entrepreneurs. However, the biggest problem in establishing a full fledged retail business in a shopping mall is the high expense of leasing space. Shopping mall space comes at a premium and your business needs to generate enough revenue to first pay the lease and then the employee payroll and other utility expenses before even thinking about profits.
Shopping mall street kiosks are a lower cost alternative. In this case, the foot traffic that exists in the shopping mall environment works to your advantage and at the same time the very high cost of leasing a full store space is reduced quite a bit. However, even with a mall street kiosk store, one needs to follow the basic principles of marketing and business in order to succeed and be profitable. The key is to use on line marketing techniques and advertise your off line business on line.
Next display your web site prominently on the kiosk, so customers can buy products from your business on line if needed. Solicit customers by welcoming them to your kiosk either by handing out flyers or samples of products. Try to get repeat customers by offering a product of the month or such and give them a discount when they have visited and purchased from you five or six times. Give them customer and friends referral points or discounts. Keep unique products and change the appearance every once in a while. Nobody likes the look of stale merchandise sitting in the same location. Give away free badges or fluorescent bands with your store name displayed clearly. By creating a buzz and creating sizzle, your shopping mall street kiosk business can become a profitable venture.