Before you decide to go into business, talk to as many kiosk operators as possible about running a kiosk franchise to see whether the concept sounds right for you.
- The franchise concept you're interested in must be simple to execute and should fit in a small space, as most kiosks have tight quarters. Be very selective about what you'll carry--make sure it's something people need or want on a regular basis. When stocking, think lean and manage your space well.
- Although a kiosk franchise is substantially lower in price, you still need to consider financing if you don't have the appropriate amount on hand. Look to traditional sources for financing, such as family, friends, banks, and SBA loans.
- Although it's possible to move your kiosk location, you're better off making the right about placement from the start. Check with your potential neighbors before choosing a location--see whether the business you're considering would be a good fit in that area and attract the right clientele. Also check statistics such as traffic count to make sure you'll have enough business. Remember, volume counts.
- Consider whether you want to pay a percentage of sales or a fixed rent for your kiosk space. There are advantages to both. With a percentage, you only pay based on the amount you've made, which can be helpful for a start-up operation. On the other hand, when you do really well, you have to shell out more money.
- Look into used equipment, which can be priced substantially lower than new. Ask your franchisor if anyone is getting out of the business and might have equipment to sell. If you can't buy reasonably priced used equipment, consider leasing. With a bit of research, you can find a number of good leasing programs.
All A Cart Manufacturing Inc., (800) 695-2278, www.allacart.com
Candy Express, (800) 511-GIFT, www.candyexpress.com
Coffee Beanery, (616) 942-5484
Heel Quik!, 1853 Vinings Mill Walk, Smyrna, GA 30080, (770) 435-5250
Heel Quik! Inc. (headquarters), (800) 255-8145, www.aquik.com
Michael H. Seid & Associates, 94 Mohegan Dr., West Hartford, CT 06117, (860) 523-4257