Starting a Retail Kiosk Business in Washington, D. C
May 31st, 2009 May 31st, 2009 Posted in Commerce, Doing BusinessComments Off
Washington is probably one of the best places I can think of for opening a retail kiosk business. This is because tourism is strong in D.C. all year-round, and specialty souvenirs sell extremely well here. Maybe it’s all those middle-school students on class trips with some money to spend, or all the families who spend weekends touring the national museums and monuments, but this town offers a number of options for a kiosk entrepreneur.
Perhaps the best part about running a retail kiosk is the ability to move around. For example, in D.C., you could be located in Union Station during the colder months, and then move outside onto the National Mall in warmer weather.
Merchandise can also be changed with the seasons. I met one kiosk retailer with a custom necktie franchise that he operated in a shopping mall year-round, and a seasonal merchandise cart that his wife operated at special events and warm weekends during the spring and summer. The custom necktie business was his main profit center, but the seasonal merchandise sold briskly to tourists in the summer months.
Kiosks and carts come in a variety of styles and sizes. Some are equipped for food service, with grills, refrigerators and steamers. Others are designed to display specific merchandise.
Some challenges in running a retail kiosk include high rents for spaces in busy shopping malls, finding the right location for your merchandise, recent slumps in mall sales and finding adequate and convenient storage space for overstock merchandise.
In a down economy, cart ownership provides the flexibility of being able to move quickly when business slows down. As a result, many entrepreneurs are becoming interested in kiosk franchises, as opposed to opening brick-and-mortar locations. It makes sense to minimize your initial investment, and start a retail business with low overhead and a high level of flexibility.