Shopping center kiosks, also known as retail commodity units (RMU) or retail kiosks. It has existed since the mid-1970s. Because of their low management cost and flexible leasing, they are a beginning for retailers to start their business. However, starting a kiosk (or a successful kiosk) is not as easy as it seems. Read the full article, and we will introduce some starting steps, common mistakes to avoid, and simple techniques to help you succeed in the future.
When you decide to start a professional retail business, the most important decision you will make is where you will open kiosk. Unlike static shops that spend time and money to build a loyal fan base, the most successful kiosks take advantage of the impulse of consumers. The best way to predict the spontaneous behavior of target customers is to observe patiently. Please follow these steps to select your location:
1. Identify your target customers
2. Find out where they will be.
3. Visit the location and see how they behave.
4. Determine how you are best suited to a business.
5. There Dare Be First
After you have chosen the location of the store, you need to decide the appearance of the physical store. A lot depends on the location and the products you sell. Your three main options are shopping cart, in-lines and kiosk.
Cart: The cart is “an independent unit provided by the mall in public areas”. Telephone jack and electrical access are usually provided.
Initial investment: 2,000–5,000USD (2M)
Kiosk: The kiosk is “provided by the tenant-at the tenant’s expense-and used in public areas.” Similarly, you can use telephone jack and power socket. This is your kiosk, and you can design it-but you must get the mall management to approve your design before you build it.
Initial investment: 8,000–15,000USD (10 * 10feet)
In-lines: In-Lines is a vacant permanent store. They have walls and storefronts, which are slightly less visible than kiosks and carts. However, you are usually less likely to be stolen and damaged.
Initial investment: 6000-18000USD
You will notice that the biggest daily differences are size and rent. A little-known difference is that the lease term can also vary among the three.
Before deciding on the style, please be sure to ask the following questions:
- 1. What types of storage are available?
- 2. Is there free storage, paid storage or a combination of both? Does the storage fee vary according to the type of lease?
- 3. If you plan to rent during the holiday, it is important to make it clear what your rent is?
- 4. What are the lease terms? Am I free to re-sign my lease, or will I lose my place if someone applied for it before me? If anything happens, what will be the penalty for confiscating my lease in advance?
Once you have found the ideal position and made a business plan, there is still one very important thing to do. Need to be accepted by the mall. The standard of each shopping center will be slightly different. However, our main goal is to show the shopping center a good experience for customers, increase the passenger flow and maintain high sales. Make a business plan and be ready to sell yourself.
These are the things you need before you start:
- Have unique ideas and business suggestions.
- Valid business license/tax number of
- Name the mall as the insurance certificate of the additional insured with the specified limit (sometimes including the owner)
- Meet with short-term rental representatives or mall managers, submit kiosk design, discuss your concept with them and finalize any 3d design elements.
Every mall requires you to buy general liability insurance. This can protect both of you in case a third party is injured. For example, if a child runs around the mall and bumps into your kiosk. But if their parents decide to sue, you will receive the compensation. In order to get the right policy, you need to be familiar with the three parts of insurance requirements.
Many shopping malls need 3D design and drawing for review. Because shopping malls need to strictly control the quality, materials, height and layout of kiosk. For food kiosks, they also need to provide the 3d design to the city health department. Because many cities are very strict in the health of food.
4. Mistakes to avoid
No matter the business owner did a lot of homework at the beginning, he was fully prepared. But almost everyone makes mistakes. Below, we have summarized some of the most common mistakes made by some people, so that you can benefit from their experience and avoid similar mistakes from happening again.
This is the most difficult and necessary part of starting a business, but it is especially important in the service/retail industry. Before you start, please seriously consider whether you have the skills, ambition and most important personality needed to successfully run a retail business. You can talk to people who have done this. You need to evaluate whether this business is suitable for you within half a year of opening.
Think that the product “sells itself”
Nothing can sell by itself. Even the most interested thing usually have to be followed by equally ingenious marketing activities to attract customers’ attention. In other words, if you need an eye-catching display, then choose your best product and launch marketing. You need to always remember that everything you do is not only for your products, but also for your brand image.
Occupy the mall with superficial value
Shopping malls are constantly being renovated, closed and redecorated. Before you open a shop, please check the 5-year plan of your mall. If they plan to resurface the floor or open a new food court near your booth, then the flow of people may stop for months at a time. It is a devastating blow, especially for new vendors.
Follow your competitors
When you are trying to find your customers, don’t go to shopping malls that already have similar products. Instead of creating competition for yourself, find a gap to fill. Choose a shopping mall where there are no similar products with you. Only in this way will your business be better.