If you own a restaurant and business is booming, you might have the idea of opening up a new location. Little did you know that it might be more convenient and lucrative if you open up a kiosk in the mall. Not only are there going to be people wanting the delicious food that you create, but your location can be established at a fraction of the cost. A new brick and mortar location can cost three times more than a kiosk, and take twice as long to get moving. Establishing a cart or stand in the mall can take as little as 6-12 months.
You’d be surprised at how many more businesses are starting to accept kiosks as being an innovative way to grow their restaurant. They cracked the code and realized that they’re able to save on investment costs. Franchisees are drawn to these carts because of the fractional cost of building them. And when I say building, I’m not just talking about assembly. I’m talking about building brand awareness at the new location.
Investing in location is important as well. Instead of just deciding to randomly choose a placement (like I do when playing the Sims) you’ll get more attraction by having the kiosk located in the middle of the walkway instead of along a wall. Fun Fact of the day! While it can be difficult for a kiosk to compete with a Brick and Mortar location in terms of generating revenue, kiosks do often generate higher returns because of their lower build out costs. According to Nation’s Restaurant News, Chief Executive Officers of kiosk franchisors have admitted to getting plenty of interest from franchisees due to the lower costs.
So the next time you are considering opening a new location for your restaurant business, don’t overlook the possibilities of a mall kiosk. Find the right location with the right audience… and you could be well on your way to even more success.
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