If you are reading this, you’re probably applying for a mall kiosk lease and need to convince mall management that having your kiosk business there is a great decision for them. Typically there’s two ways to go about it: first is to submit your mall kiosk business plan to formally introduce the business idea. Second is to send them a presentation to wow them using beautiful graphics and powerful captions. While the second way is gaining more acceptance these days, most malls still require a formal mall kiosk business plan.
(Spoiler alert: At the very end, we’re going to share our own mall kiosk business plan that opens doors for us, so you can use it as a starting point to get yourself a spot in your desired mall).
I know what you are thinking…”this sounds like a really tedious process!” But it doesn’t have to be — you don’t have to write a 25 page business plan like one you would write in business school to get the mall on board with your idea — trust us, no one wants to read 25 pages anyway!
While outlines of business plans are fairly similar across the board, the audience reading your business plan plays a crucial role and you should structure your document around them. A business plan for an investor is not the same as one for a bank — they will have a completely different emphasis. When you are writing a mall kiosk business plan, always remember that your primary reader is a leasing rep. They are most concerned about diversity and uniqueness of mall offerings, traffic and security.
In the era of an easy and convenient online e-commerce, malls are increasingly becoming more and more about experience, and less about transaction. It’s essential for the mall to keep their offerings diversified and products unique to attract more traffic to provide the best experience. It’s also important for them to be able to plan ahead and count on growth. So, think of it as if you were them. What would convince you to say “yes”? Then make sure to communicate that value by clearly and concisely stating it in your business plan. In short, your guiding questions for the mall kiosk business plan will look like this:
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Executive Summary – What is your pitch? Should I read further?
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Company Overview – What is your company vision?
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Management Team – How experienced are you running this business?
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Products and Services – How unique are your products and services? What problems do they solve?
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Market Potential – Is it a growing industry? What makes your business a good fit for this mall?
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Pricing Strategy – How are you going to pay for rent and make money?
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Marketing Strategy – Are you going to drive traffic to the mall?
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Retail Space Requirement – How does kiosk fit into the mall environment?
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Sales Forecast – Do you have a long-term strategy?
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Important Milestones – Do you have it all planned out?
As soon as you start focusing your energy on the elements most relevant to the mall management, things will pick up!
Are you looking for a real-world mall kiosk business plan example? Download our own, proven mall kiosk business plan to learn first hand how to craft a perfect pitch.[kiosk_busplan_880]
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