If you are a new businessman, starting a kiosk business is one good way to practice your business skills. It only requires a small capital, a small labor force, and a less complicated operation system. But although that’s the case, you need to maximize the profitability of your kiosk business. And you can do that by choosing the right products to sell. There are lots of product ideas you can explore, but to help you arrive at the right decision, we listed down some tips.
- Take your location into consideration. Where is your kiosk located? If it’s on a busy street, you can do well with food, magazines, and drinks. If your location is quite high-end, you may want to sell products that appeal to upper-class consumers. Examples are bags, purses, makeup and other beauty products, jewelry, and cellphones. Avoid a mismatch of location and products, because that will surely spell the failure of your business.
- Identify your target market. Before deciding on a product, you have to know exactly which segment of the market you are targeting. Do you want to tap the young and single professionals, who mostly are lax with their spending? Or are you after the teens and students, who are the easiest to persuade? If you know who your target market is, you can think of the products that best appeal to that segment. And this will narrow down your choices.
- Think of the easiest to manage. Food business is no doubt profitable, but if you are the kind who doesn’t want to worry about the different sanitary permits, food preparation, and food handling, food business is obviously not for you. Try to explore product ideas that don’t need a lot of tending. Phone kiosk, information kiosk, book kiosk, DVD kiosk, and car accessories kiosk are ideas to think about.
- Look at the trend. You are sure to attract a lot of customers and rake in high sales if you sell products that are in trend. The only problem with this is that your profitability will last only as long as the trend lasts. In other words, if the trend finally wanes, your profit will likewise drop. So think very carefully if you want to sell trendy products. If you want to go this route, think of some ways that will give you solid staying power.
- Sell what you love. In the corporate world, this means “Do what you love.” In the business world, the same thing applies. You have to make a business out of the very thing that you truly love. Are you a gadget person? Then, try to sell electronic gadgets. Do you love comics? Sell brand-new and secondhand comics. Are you a flower-lover? Put up a flower kiosk. Remember that your business should foremost reflect your personality and the things that you like, because, after all, it is much easier to devote time and effort to something that you really, really, really love.
Marketing is the next thing you have to concentrate on after deciding on the products to sell. Heavily promote your products. Make flyers and posters and do online advertising. If applicable, give free samples away.