Mall Kiosk Business Plan – 9 Things You Have To Include

mall-kiosk-business-planIf you’re a start-up looking to apply for a mall kiosk space in a mall, then you’re going to need a strong and persuasive mall kiosk business plan to prove to mall management’ that your unique, sophisticated and interactive modular mall kiosk will stand out, attract foot-traffic, and provide a unique consumer experience that will keep customers returning.

We know what it takes to get into a high-foot-traffic mall, and we also know how difficult writing a mall kiosk business plan can be. Creating a business plan is one of the most important steps as it serves as your road map for the early years of your business. Follow this mall kiosk business plan from Scan Retail and you’ll end up with winning deck:

  1. Business Overview – If you want to woo mall management, then you need to start with a brilliant pitch and business vision. The purpose of your pitch is to develop a blueprint of your business’s vision and strategy and then use this plan as a guide to develop and grow your business. Your business plan will also be used to align the various elements of your brand to create a consistent and articulate system of sustainable customer satisfaction and profitability.

 

  1. Management Team – How experienced are you at running a mall kiosk business or any business? Talk about your sales and entrepreneurship experience, as well as your team’s experience. You don’t have to go overboard, just mention a few very brief highlights of each member’s background that relates to the business at hand.

 

  1. Products and Services – How unique are your products or services? What problems do they solve? Mention your key competitors—but always be humble and nice. Explain what gives you the competitive edge over your competitors.

 

  1. Market Potential – Are your products and services a growing industry, and what makes your products and services a good fit for this mall? Introduce a problem that is relatable to both your target market and the mall. Statistics can help you support your comments but mention only a couple at best. You want the mall manager to relate to the problem/s or at least understand how it affects their mall. Briefly describe in simple terms how your business has figured out how to alleviate the problem you have mentioned and make sure the mall manager understands that you have a unique approach.

 

  1. Pricing Strategy – How are you going to pay your rental bill? Discuss your revenue sources as well as your pricing structure, and then talk briefly about how you expect to profit.

 

  1. Marketing Strategy – Very importantly, how are you going to drive traffic to the mall? Who are your customers, are they male, female, both, or are they, children? If you’re going to create a dynamic advertising and promotional campaign, present your marketing plan in a few short words with specifics. Let mall management know you have a plan for marketing.

 

  1. Retail Space Requirement – How does the kiosk fit into the mall environment? Can your Kiosk be positioned away from similar in-store businesses?

 

  1. Sales Forecast – Every business must have a long-term strategy and this is where you should show a clear financial projection with a three-to-five-year forecast. Explain the method you used to arrive at your numbers.

 

  1. Important Milestones – Show mall management where you are at present, what have you done thus far and how are you are looking to move forward. Present a positive call to action based on what you’ve accomplished to date and what you’ll accomplish in the future.

Being an entrepreneur is one of the most rewarding yet challenging things you can do in your lifetime. It offers the opportunity for incredible achievements, but also great failure, so keep in mind that even though you’re operating out of a mall kiosk, you will deal with the very same challenges as an in-store business. If you’re determined to be successful and have a good service or product-line with a flexible free-standing mall kiosk that is unique, sophisticated, interactive and modular, the money will follow.

You can download a free mall kiosk business plan here and adapt it for your own business. After which Scan Retail can help you secure a mall space and implement disruptive technology which has an enormous impact on the in-store retail industry. Scan Retail will not only get you into a high-foot-traffic mall, but we can customize your mall kiosk to the exact design to suit your products and mall needs. In addition to our standard and customized modular mall kiosks, we also offer excellent finance options and free consultation to help you secure a mall space.

Contact us now to find out how we can help you set up your mall kiosk business.

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The Biggest Challenge In Mall Retailing, And How You Can Fix It

Before the 21st century, the retail game plan was fairly straightforward: if you had the budget you simply opened a store and invested in some advertising space. But now, in an age of increasingly competitive business environments, saturated markets, rising retail occupancy costs, shrinking profits, fly-by-night trends, the emergence of online shopping, and millennial who would rather hunt for Pokémon than bargains at the mall, retail has gotten a lot more challenging.

 

The greatest challenge facing retailers and mall managers today

 

Let’s face it – anybody involved in retail knows there are many challenges to staying successful and competitive. Not only are sales down because of competition, saturated markets, and, at times, a lack of knowledge, content or branding, but of all the difficulties that those in the industry have to deal with, the biggest challenge is attracting shoppers into the inner store space.

 

The retail industry is undergoing a huge shakeup—and despite what you may have heard, brick and mortar is not dying, it is only evolving. Yes, it’s true. Brick and mortar is going through some big changes but an in-store presence can still be profitable if done well. (And, yes, we’re going to tell you how!)

 

So what’s to blame for these changes? A little thing called disruptive technology.

 

Online and smartphone technology has had an enormous impact on the in-store retail industry. From the tsunami of technologies, and changing nature of retail competitiveness, to the rise of the digitally influenced shopper and show-rooming, consumers are now demanding a more convenient, seamless and enhanced shopping experience.

 

Today’s consumers approach the buying process more knowledgeable than ever, and with more available options at their fingertips. So, not only are retailers struggling to get consumers to choose their products, but mall and exhibition managers are finding it more difficult to win over traffic.

 

How the market has tried to solve the problem

 

Whether in-store retailers like it or not, technology is here to stay. In fact, as smartphone usage grows, it’s only going to increase. So, how is the market trying to solve the problem?

 

Some responses have included examining price strategy, launching apps or mobile sites, providing free Wi-Fi, price matching, social media engagement, improving the efficiency of sales staff, and offering unique services that online retailers can’t replicate. While these strategies may work in the short term, the market has proven that they are far from great long term strategies.

 

What’s the solution?

 

Disruptive technology has taken a firm grip on just about every industry and has had a deep and lasting effect on retail. Yet, while consumers continue to live in a smartphone world, many retailers seem to be stuck in the past.

 

This makes “change” the need of the hour. Disruptions have forced retailers and mall managers to become locked into a ‘survival of the fittest’ contest, where only those who innovate, get creative and offer a lifestyle experience will flourish.

 

So what’s the solution? When disruption happens, not only does it generate threats but it also generates opportunities for those who can catch them. Using customer behaviours, desires and needs to stimulate transformation, the solution is to spend less time selling and more time delivering excellent customer experiences.

 

Top ways to optimise the in-store experience

 

Less about transactions and more about the consumer relationship, sales performance has become more customer-focused than it ever was in the past. Today, retail is all about pleasing customers and getting them to return.

 

But in a volatile landscape where consumers are savvy and well-informed, which can also make them unpredictable and demanding, keeping pace with what they want, is harder than ever before. While many recognise that the best way to attract and retain customers is to enrich their in-store experience, this is not always straightforward.

 

So how can retailers create an in-person shopping experience that keeps customers coming back? In addition to treating consumers like rock stars, here are some powerful ways to increase sales performance by optimising in-store displays.

 

Stories stick and stories sell

 

In today’s visually stimulated world, where competition for the customer’s attention and money has become fierce, discounts and price-matching may move sales up in the short term, but they’ll also move profits down in the long term. Customers will leave with products, but not much more.

 

To better sales performance, retailers need to create a shopping experience that sets their brand apart from the rest, and an effective way to do this is to sell a story through their display. Storytelling is a very powerful tactic when it comes to engaging. Considering that retailers control their customer’s experience, they should use it to their advantage. And remember, it’s more effective to show a story, not tell it.

 

Displays are a way to excite the imagination. A tight visual concept (your story) can give a potential customer inspiration for a certain style and can trigger desires and wants. Simply put, stories – about success, fame, love, prestige, a revelation, you name it – help people connect emotionally to what they are seeing. It is all about communicating a story through the way products are presented.

 

Simplicity is the ultimate form of sophistication

 

You can have the best merchandise in the world but if you don’t display it properly customers will pass it by. A common mistake many retailers make is displaying too many products at once. Crowding is a symbol of inferiority – if you keep an expensive item in a crowd, the human brain perceives it to be of lower value. Anything that is high value deserves a lot of space around it.

 

Good visual merchandising is a mix of art, inspiration and science. By following the principle of KISS (Keep It Simple Sweetheart), a retail display is guaranteed to keep customers interested. While great visuals can sell a lousy product, poor visuals can do nothing for great merchandise, so keep displays simple and keep them uncluttered.

 

Use colour to grab attention and influence

 

Visual impact is a huge component of retail merchandising. Customers entering a store are greatly influenced by the visual information they gather in the first split-second. One simple visual element, such as colour, can catch a shopper’s attention and also greatly affect their mood.

 

Colour isn’t just a powerful medium for creating emphasis and commanding attention, but it also tends to stir up emotions in people, which can affect how they spend. While red is used to excite consumers and make them act on impulse, black is used to market extravagant products, blue is used to create an impression of trust, and yellow is the colour of choice to showcase a youthful and positive retail space. Find your colour and use it strategically.

 

Light up your display with LEDs

 

Your retail display is your brand so make sure your display is highlighted with LEDs that improve the overall visual experience for customers. Whether you’re using LED lightboxes, accent lighting, display plinths or illuminated sign holders (one of the most important aspects of in-store design), LEDs not only enhance the aesthetic beauty of a display, but bright and bold lighting attracts the eye and serves as a kind of spotlight, helping graphics stand out in crowded areas and drawing customers to the display.

 

A market opportunity that comes with many benefits

 

85% of consumers still prefer to shop in-store and handle the physical products before purchasing.

73% of consumers would expand their purchases if they had a positive customer experience.

89% of consumers would switch to a competitor due to a negative customer experience.

 

While these are just the cost-saving opportunities, these mall marketing tools can be a significant contributor to overall sales results. Bridging the online and offline gap, these marketing tools have the power to draw attention from crowds; enhance customer buying experience through personal interaction; increase brand loyalty; test new products or concepts; encourage spontaneous purchase of merchandise; increase customer base and brand extension; market merchandise around a season, sale or holiday; facilitate the collection of leads, feedback and loyalty programs; generate brand exposure; and ultimately, boost higher sales.

 

Retail is no longer just about selling. It’s all about how you sell. And with retailers no longer in the driver’s seat and with consumers calling the shots, modern retail is a whole new playing field. Whether in-store retailers like it or not, the retail landscape is changing fast. To thrive and survive in the new age of retail, retailers and mall managers need to make a difference to the customer journey or get left behind. Simply put: with 5 out of 7 retailers failing within the first three years, if you don’t evolve with the evolving retail landscape, you can pretty much kiss your brand goodbye.

 

An effective and powerful retail display can have a significant effect on your business ROI.

 

Fortunately, with in-store retail intelligence, retailers now have the tools to succeed. By optimising the in-store experience with retail display products, the opportunity to make sales increases.

 

Bringing brands and stores to life, Scan Retail offers an affordable marketing opportunity for retail companies looking to expand, or for small entrepreneurs just getting started. Pairing strategic tools with beautiful design solutions to help brands stand out, Scan Retail delivers cutting-edge, energy-efficient retail display architecture for temporary, semi-permanent and permanent retail displays.

 

Scan Retails’ unrivaled marketing tools offer many possibilities. Firstly, setting up a retail store is notoriously expensive. Not only are mall leases steep, but shopfitting and set up costs, can be prohibitive for new retailers trying to set up shop. Our in-store retail displays are a great alternative to get your new retail business set up and running quickly and cost-effectively with more flexibility for shorter leases to test the market.

 

To find out more about how we can help you improve your retail display, don’t hesitate to talk to one of our consultants for free

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Mall Kiosk Business Ideas: 6 Fast Selling and Most Profitable Products

Modular-Retail-Kiosk-scanretailDid you know that those little free-standing mall kiosks you see everywhere account for over 10 percent of an entire mall’s sales? Typically bound by short-term leases and run by first-time entrepreneurs with limited capital, mall kiosks business have long been considered an unsophisticated option for only low-end markets. However, over the years, these small-footprint retail business models have come to be seen as one of the hottest trends, revolutionising the typical in-store shopping experience.

With plenty of franchise options and short-term mall lease commitments, there has never been a better time for start-ups and bigger brands to start their own mall kiosk business without the need to invest a ton of money up front. If you’re on the lookout for a great new business venture, consider these proven mall kiosk business ideas:

 

#1 Imported gourmet Arabic coffees and beans

 

As the second most consumed beverage in the world, there is nothing quite like the rich aroma of freshly roasted gourmet coffee wafting through a mall. In a world fueled by caffeine, there is and will always be a huge demand for gourmet coffees. All you need is an espresso and cappuccino machine with plenty of different authentic roasted coffees to go, and a wide selection of the highest 100% quality roasted coffee beans – and your retail kiosk will be destined to grab attention.

 

#2 Designer fragrances

 

There is no individual that doesn’t have a secret love affair with the mesmerising scent of designer fragrances. Despite rising economic uncertainty, fragrances are and will always be a big business. In fact, it has even been predicted that by the year 2020, fragrances will account for 33% of overall sales in the beauty industry. Fêted as one of the most exciting, profitable, and recession-proof industries to be in right now, this is one small business model you don’t want to miss out on.

 

#3 Electronics and accessories

 

A lucrative small business model that is in high demand, a mall kiosk that supplies cell phones and phone accessories such as charges, batteries, decorative phone cases and other types of popular electronics can be a real money spinner if displayed in a high-traffic area. What’s so brilliant about this business model is that you’re not only limited to cell phones, you could also sell small mp3 players, fancy torch lights, game consoles, tablets, fitness trackers and other accessories for wireless devices. It’s worth mentioning that there is a huge demand for cellular repair services, such as cracked screens and water damage. All you need is one happy customer and the word will spread.

 

#4 Designer style eye wear

 

A mall kiosk front runner, sunglasses and designer style reading glass frames are a universally-loved product which appeals to both low and high-income consumers. Whether displayed in mainstream malls or upscale malls, designer eye wear is a necessity that never fails to sell. Should you make a lasting impression by supplying high-fashion designer eye wear at competitive prices, you will be remembered. As a mall kiosk business idea guaranteed to keep the money coming in, you can even stock contact lenses of various colours.

 

 

#5 Toys and games

 

Ask any working parent why they value quality kid’s toys and games, and they will all tell you the same thing – it keeps their little ones busy for hours on end. Whether you believe it or not, kids rule the shopping list, and when a child spots a kiosk filled with colourful toys, board games, card games, interactive puzzles, building blocks and Lego, they will literally drag their parents toward your kiosk. However, there is nothing worse than poor quality toys and games, so make sure to supply only high-quality toys and games that appeal to every type of child.

 

#6 Jewellery gift items

 

Ever wondered why most high-end malls always have kiosks that sell jewellery? It’s because jewellery sells. Opportunely, jewellery makes the perfect gift, especially seasonal gifts such as Christmas, Valentine’s day, Mother’s day, Father’s day, Women’s day, Diwali, Grandparent’s day, and Rosh Hashanah. But that’s not all, jewellery, at the right price and design, is a major winner when it comes to impulse buys, especially for birthdays and anniversaries. Jewellery kiosks offer many great ways to present merchandise by themselves, instead of having customers miss them in a much larger, in-store display. Selling high-end quality jewellery can be very profitable if you play your cards right and a mall kiosk is an excellent setting to set your business apart from your in-store competitors.

 

As with any business, the key to the mall kiosk business game is making a profit, and zeroing in on just the right merchandise is only one important piece of the sales success puzzle. The other has a lot to do with your kiosk display. Much has changed since 4-foot-by-8-foot wooden carts with wagon wheels. Today, mall kiosks are a whole new playing field, and if you want to thrive and survive in the new age of retail, you need to embrace the future of retail with the leading manufacturer of high-end mall kiosk displays.

 

Our modular mall kiosks are designed for high-end shopping malls

At Scan Retail, we supply both small retail businesses and larger brands with a flexible acrylic free-standing mall kiosk that is unique, sophisticated, and interactive. Designed with full-colour interchangeable lightweight prints, LCD screens, hanging solutions, shelves and digital tablet enclosures, our super flexible mall kiosk displays can also be added to, or broken up into modular sections to suit the mall, the space, and the tenant’s needs.

Want to kick-start your mall kiosk business? We manufacture high-end quality mall approved kiosks to help your business get ahead. We also offer free consultation to help you secure a space in leading malls countrywide

To enquire about our free consultation and mall kiosks designed for your brand, click the link to fill out our form.

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Ideas to enhance your shopfront display for the month of love

shopfront display-scan retail

Window Display

Now that your small kiosk business has recovered from the manic Christmas-New-Year’s season, are you ready for the most romantic month of the year? Representing a celebration of love and affection, the month of February offers retailers an opportunity to kick it into high-gear and rocket their sales. But if you don’t have a marketing campaign yet, here are some ideas to enhance your shopfront display… not only on Valentine day but for the whole month of love.

 

#1 Be a Beacon of Love and Light up your Shop with a Lightbox

 Your shopfront display is your brand, and since there are so many marketing rands vying for your customers’ attention, your campaign will need to outshine your competitors. A brilliant way to do this is to light up your shop with a lightbox.  A marketing superstar that can be ceiling mounted, wall mounted, freestanding or positioned to fit your mall kiosk best – whether you’re selling books, clothing, tools, fragrances, chocolates or jewellery – LED Fabric Lightbox is an excellent way to be creative.

 

#2 Put Cupid to Work with a “We Love Our Customers” Promotion

 All businesses love their customers (well, most of them anyway), but for customers to believe you care, your efforts must come out of authenticity. Why not show them how much they mean to you by doing something unique this month? Whether you dress an employee as Cupid, offer an exceptional service like gift wrapping, give your customers a free gift with every purchase or hand out candy or chocolates, your customers will never forget how you went out of your way.

 

#3 Sell Your Brand with a Story

Amidst all the cupid-fuelled chaos, you have to be super creative and authentic to get noticed, and if you want to make your customers fall in love with your brand then sell your brand with a story. Whether it’s Valentine’s Day, Mother’s Day, Easter, Christmas or any other special occasion, many retailers believe cramming their kiosk with loads of items provide choice, but is easy for shoppers to become overwhelmed and leave. Rather keep your shopfront display simply by engaging your customers with a theme that showcases your personal identity. An emotive display that tells a story can generate curiosity appeal to your target market.

 

#4 Don’t Forget Your Employees

While we know that good shopfront displays increase customer traffic and sales dramatically, it’s important to understand that your shopfront display is not always enough. Behind every successful business, you will always find happy employees who love what they do. Happy employees lead to happy customers! Yes, your customers are much more likely to feel ‘loved’ by your business when your employees do, too. you need to show your appreciation to your employees this month of love.

Your brand is everything, and in today’s competitive marketplace, small business owners need to pull out all the stops. A great place to start is with your shopfront display. While these ideas may be Valentine-centric, with a few tweaks, they can be used for just about any special occasion.

If you’re interested in finding out more about shopfront bespoke displays, don’t hesitate to contact us today.

Image Credits: Pinterest

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9 Ways Retail Kiosks Can Boost Revenue and Build Buzz for Your Brand

9-Ways-Retail-Kiosks-Can- Boost- Revenue-and-Build-Buzz- for-Your-Brand

Retail Kiosk

Today, running any retail business is a challenge, and while branding strategies have certainly evolved over the years, two things that haven’t changed are competition and brand awareness. Yes, your brand is your biggest selling point, which is why it needs as much exposure as it can get. Whether you’re a small start-up trying to get your brand out on the streets, a large retailer is introducing new products or a mall trying to attract shoppers and boost revenue – it’s time you embraced the future of retail with retail kiosks.

 

A Unique, Sophisticated, and Intelligent Hybrid Marketing Genius

A hybrid marketing genius that is unique, sophisticated and intelligent, modular retail kiosks have become a booming trend that has revolutionised the typical traditional shopping experience. A shopfront display that has grown beyond fashion products to encompass food, makeup, books, and art – enabling hundreds of small businesses to get off the ground – these modern retail shopping kiosks are a stepping stone trading device.

 

A one-stop shop that blends retail with event marketing, the role of retail kiosks is not new, with brands and retailers utilising them in increasingly innovative ways. A sufficiently flexible, modular option for in-line retail activities that boasts full-colour interchangeable lightweight prints, LCD screens, hanging solutions, shelves, and digital tablet enclosures. These famous marketing superstars can be found for all stand configurations and can even be added to or broken up into sections to suit your mall space or tenant needs. A mall kiosk that comes with countless benefits – here are nine ways a retail kiosk can boost revenue and build buzz for your brand.

 

#1 Markets merchandise around a season, sale, or holiday

#2 Tests new products or concepts

#3 Enhances customer buying experience through personal interaction

#4 Encourages spontaneous purchase of merchandise

#5 Increases customer base and brand extension

#6 Generates brand exposure and boosts sales

#7 Facilitates the collection of leads, feedback, and loyalty programmes

#8 Cost effective with low overheads

#9 Grow shoppers experience and mall visits

 

A temporary to a permanent retail & shopping kiosk, create unique, memorable 3D experiences that align with the brand’s values – a retail kiosk is a short-term investment for what could be a long-term gain. The newest trend in guerrilla marketing to hit the streets nationwide, a modular retail kiosk has proven to be an effective prize-winning marketing tool that can be strategically placed just about anywhere.

 

Exclusive modern showrooms that bridge the online and offline gap, not only do they have the power to draw attention in crowds, generate brand buzz, create opportunities for marketing, and ultimately, boost higher sales. These sleek, simple, portable, cost effective and interactive marketing superstars are also the perfect avenue to make flash appearances and take any business on the road.

 

Fuelling the retail revolution – with many retailers and malls jumping on board – a retail kiosk is simply a marketing tool. If you’re interested in finding out more about how a retail kiosk can boost your revenue and build your brand, download our Modular Retail Kiosk (MRK) brochure and contact us.

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