Succeeding in business starts with a plan. A kiosk may be tiny compared to traditional retail operations, but it’s still a serious enterprise — just ask anyone who’s tried to run one (or more). In order to be successful, there are important steps you should take and factors to consider as you develop a business plan for your mall kiosk.

Decide what to sell.

Profitability and growth hinge on choosing the right product(s). Successful kiosks sell merchandise that is different from what shoppers can find elsewhere. You’ll do best with a narrow range of products but an impressive depth of selection within that range. For example, fragrances, small electronics, designer eyewear, and jewelry are some of the most successful products to sell at kiosks. Ask if your mall has a list of embargoed products.

As you’re researching possible products, ask about the ordering process and delivery timing. The last thing you want is to run out of inventory. Make a calendar so you can anticipate heavier sales periods. 

Choose your location.

You’ve already decided a mall is the right venue for you. But which one? Research community and mall-specific demographics to be sure they match your target audience. Placement within the mall makes a big difference, too. Malls typically forbid competing kiosks, but you do want to be located near inline stores that draw customers like yours.

Will your kiosk be temporary/seasonal or a permanent year-round business? 

Develop a budget.

You’ll need capital to cover your startup costs and at least a few months of operating expenses. You also need to know all your one-time and ongoing expenses in order to price your products and know if you’re making a profit. Ask if your mall takes a percentage of your sales on top of your monthly lease payment. Ask about other fees — for advertising, maintenance, etc.

If you need financing, a strong business plan for your mall kiosk will show lenders you’re serious. If you’re a first-time entrepreneur, your business plan will boost your credibility with mall management, too.

Design your kiosk.

Usually, you can lease or rent a kiosk from mall management. Some malls require you to do this, others will allow you to purchase your own kiosk. Find out what your mall’s requirements are, then consult with a display design expert about your kiosk’s details. You want your presence to be as unique as possible, and the physical design and fixtures should be perfectly aligned with the products you plan to sell.

A business plan for your mall kiosk has to address marketing.

Sure, you’ll have a “guaranteed” audience of thousands of mall shoppers. But, how will you capture the attention of passersby and attract them to your kiosk? Two great ways to do that are providing demos of products and handing out samples. You should also ask mall management about advertising and promotions plans. If there's a mall-wide event, take full advantage. Gather customers email addresses and promise to send exclusive offers. 

Your smartest marketing move will be to learn everything you can about visual merchandising. Even the hottest products won’t sell if your kiosk looks a mess or it’s overstuffed. On the other hand, irresistible displays and friendly, helpful interactions will attract customers and keep them coming back. So make that part of your plan, too.

And don't forget about social media. Millions of people follow business' social media accounts. Use it to your advantage by creating your own business accounts, posting photos, special offers, new products, etc. 

Of course, each entrepreneur's business plan will vary, but this is a great foundation to start from. The most important thing to remember is to take your time and put a lot of thought into this plan. The more solid your plan is, the more likely your kiosk is to succeed.