But, do malls still attract foot traffic?
While some malls are seeing a decline in visitors due to an increase in online sales, many continue drawing strong traffic. And kiosks are well positioned to take advantage of those shoppers. In fact, a mall can be a sterling location for a retail kiosk because you’re surrounded by ready-made traffic, as long as you choose your location wisely. Considering that busy malls host thousands of shoppers every day, that’s a lot of prospective customers eyeballing your display.
Here are four reasons to own a mall kiosk vs. leasing a store:
In order to change the location of a brick-and-mortar store, a business owner must find a new space to lease, or build a new store, design the space, and move all the merchandise over. However, if you own a kiosk and you're not keen on your location, simply wait out your lease and make a change. Your kiosk business can go anywhere.
You're Free to Customize as You Wish
Buying a kiosk gives you the opportunity to work directly with the manufacturer to design exactly what you need, with a look that is truly all yours. Take advantage of their expert advice on operating your mall kiosk, too.
They’ll ensure you have maximum exposure to shoppers approaching from all sides, whether you choose a 360-degree walk-around or a mini-store look that has aisles to draw shoppers inside your kiosk.
It can be quite expensive to become a franchisee, especially if the brand is already well-known. Choosing a franchise whose “stores” — at least some of them — are mall kiosks requires a much lower buy-in. That opens the door for many would-be entrepreneurs looking to get a start in retail. You won’t have the ability to custom-design your kiosk, but you’ll reap other benefits that come with a turn-key operation.
As your business grows, you can add locations with identical kiosks that reinforce your branding. And if your products lend themselves to selling in non-mall locations, even outdoors, customization enables you to create mobile kiosks that are smaller, matching versions of your mall kiosk.
Owning a kiosk is just the beginning. Although the mall itself undoubtedly advertises, a sound business plan and marketing plan will ensure your kiosk business can thrive.
Not sure if ownership is right for you? Start by leasing a mall kiosk on a short contract to get a feel for the mall, the location, and how well your merchandise sells. Then, when you have some experience behind you, take your business to the next level by purchasing your own kiosk. By then you may want to expand to more locations, either within one mall or at other malls.