If you are planning to put up a business with the smallest capital possible, a concession stand is a good way to start. Setting up a concession stand can be a good investment as it is not only affordable but also lucrative. There is a wide array of food and refreshments to choose from when you put up your own concession stand. You can choose to sell burgers, hot dogs, ice cream, sodas, popcorn or other snacks depending on your budget.
Think of the potential customers that you want to have. Do you plan to target students, children or people who are always on the go? It is essential that you know who your target buyers are so that you can find a location to put up your concession stand. If your target is students, for example, find an area near schools.
Plan where you would like to set up your concession stand. Do a thorough research on the area particularly for required licenses or business permits. Some areas require small businesses to obtain a state license, while others may only ask for a local license and permit.
Decide the kind of food or snack that you want to sell. The food should go with the taste and preference of your potential customers in order for you to earn profit. You can opt to sell either just one kind of food or a variety of snacks depending on your target market.
Think of what equipment you will need and also the kind of concession stand that you want. Would it be a concession cart or just a typical concession stand? Concession stands cost less than carts. However, concession carts allow you to move your product around. Concession stands and carts also vary in sizes.
Create a marketing strategy for your business. You need to decide on the number of hours that you will operate a day, the design of the cart or stand and advertising. Coming up with a good strategy will help your concession stand to operate well. You can eventually purchase another concession stand or venture into a bigger food business once your concession stand becomes a success.
Concession stands are not easy to relocate since they are already structured permanently. Choose your location wisely.
- Concession stands are not easy to relocate since they are already structured permanently. Choose your location wisely.
Based in North Carolina, Rossana Coscolluela has been writing since 1997. She was editor of the University of the Philippines’ “UPV Information Manual” and has also been an editorial consultant for various custom publications. She currently enjoys freelance writing. Coscolluela holds a Bachelor of Arts degree in comparative literature from the University of the Philippines in the Visayas.