Plans To Start A Wireless Store or Kiosk 

The first step in developing a wireless store business plan is probably a comforting one: to confirm that you have chosen the right type of product to launch your retail future. With millions of Americans owning at least one cell phone – not to mention other wireless devices such as tablets – choosing to open a wireless store can be a smart move.

That’s because all those wireless owners are always on the lookout for the next “best” device. They also want and need accessories that will help them get maximum functionality from their devices. And they especially want accessories they can use to customize those devices to match their own personalities. So, the opportunities are impressive.

What are the benefits of opening a wireless store or kiosk?

Opening a wireless store offers several benefits compared to choosing some other type of retail:

• Lower start-up costs.
  Your store will only need to be 500-1400 square feet, and you won’t need a huge range of different products.
• Fewer headaches.
  Thanks to that streamlined inventory and compact size, you will only need one or two employees. And, typically, the rate of defective merchandise or customer returns is very low for wireless stores.
• Excellent margins and multiple revenue streams.
  Wireless devices and accessories both offer high sales margins, and carriers often offer commissions or residuals on activations. You can also serve as a bill payment center for customers, earning a fee from the carrier on each payment. The more ways you have to generate income, the more stable your income will be. You’ll have greater opportunities for growth, too.

What should your wireless store business plan include?

Online, you can find an extensive step-by-step guide here or a more streamlined guide here. Both are specifically designed for wireless businesses. In general, though, your plan should identify how you will:

• Choose a location
  Strip malls or mall kiosks are popular choices.
• Select brand(s) to carry.
  Look for vendors whose products are top-rated and who offer resources such as training, brand-level marketing, and store-specific promotional support.
• Select display fixtures.
  Choose whether to use vendor-provided or custom-designed fixtures.

• Learn about sales-boosting merchandising techniques.
• Provide security for your store and your products.
• Hire the right people.
  Knowledgeable, friendly, non-pushy employees will make more sales.

You will also need to consider marketing strategy -- how you plan to attract local customers to your store. Well-targeted marketing is critical to grow your business and profitability, so you cannot rely solely on whatever marketing your mall or vendors are doing, you have to build on it. Ask yourself:

• What are my long-term and short-term business goals?
• Who are my potential customers? After all, you can’t target marketing unless you know where to aim.
• Will I need a website?

Make sure your business plan is a “living” document.

A good plan will get your store off to the strongest possible start. But your store will evolve over time as you keep up with technology trends. You’ll get the most benefit from your business plan if you review it periodically, and make any necessary changes to ensure your plan continues to reflect your current and future business goals.

Palmer Retail Solutions strives to offer our clients the absolute best combination of innovation, quality, service, and value for our diversified custom store fixtures and merchandising displays. For more information about our designs, retail fixtures, cash wraps, kiosks, or point of purchase displays, visit our website at: http://www.palmerretailsolutions.com.