Key Steps to Open a Successful Mall Kiosk 

Deciding to open a mall kiosk could open the door to a very bright future. Entry costs are far lower than opening even a modest brick-and-mortar location, and the kiosk business has burgeoned into a multi-billion industry. In this four-part series, we will explore how you can open a mall kiosk and succeed, perhaps beyond your wildest dreams.

If you don’t have any retail background, get some before investing in a mall kiosk. Retail isn’t right for everyone. You can give your new business a real boost by studying the underlying principles that make kiosks successful.

Kiosk Profitability Depends on Products and Location

Proven winners year in and year out are apparel, personal care and health related items, and cellphone accessories. Whatever you sell should be unique to the mall, or at least to your part of the mall, so you have the strongest opportunity to do well.

Choosing a mall for your kiosk brings a number of benefits, because mall management usually handles import details such as security and marketing, and you’ll be surrounded by a steady stream of prospective customers in the form of mall shoppers. Nonetheless, you still have to pick the right mall and the right placement within the mall. Your goal is to put yourself in front of your top prospects, so being located next to one or more in-line stores that cater to your audience can significantly boost sales.

Do Your Homework

The mall doesn’t turn a profit unless the stores – including your kiosk – do well. They are as invested as you are in finding the best-fitting products and shopping experience for their demographics. Talk with other kiosk operators in the mall about foot traffic, their sales (and sales patterns), management support, and the general atmosphere.

And ask the mall or property manager detailed questions, including:

• Will the mall lease you a kiosk, or will you need to purchase one? Some malls also charge a percentage of your sales.
• Lease length – malls differ, but typically, you can rent space by the month if you’re looking to do business seasonally or you can rent year-round.
• Is storage available? How much and where?
• Exactly what is included in your lease? (Read your lease carefully before you sign it.)
• What additional assessments will you have to pay – those could be ongoing, for general maintenance, or some special assessments, if the mall is planning major repairs or a remodel.

When to start?

Typically, you can start a mall kiosk any time, and you can get started quickly. However, be careful to pick a start date that gives you plenty of time to receive your initial shipment of merchandise and complete your displays. You want to open a mall kiosk that looks and sells its best from Day One. Order enough merchandise at first to keep your kiosk well-stocked while you’re determining a feasible re-order schedule.

In our next article, we’ll explain how to choose the right size kiosk.

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.