Opening a business in a mall is a high-risk venture. Start-up costs for inventory and rent are high, so you will need solid financing. Plus, mall stores are open six and seven days a week from nine to 10 hours a day, more hours than one person can handle alone. If you have the money and are ready to hire some employees, then roll up your sleeves and get ready to work.
Play Center/Short-Term Child Care
She has three stores to make purchases at in less than an hour with two cranky children in tow. Odds are, this mom shopping alone with her two uncooperative children will not be able to keep to her schedule. That is where your play center business comes to the rescue. By providing a safe, fun place for parents to drop off their children for a short time while they complete their shopping, you create a win-win-win situation. Moms get some needed sanity time while shopping; the children get, well, they get to be children; and you get to run a profitable business.
Every mall needs several boutique clothing stores. You love fashion, but it will take more than a desire to dress up your clients to make this business successful. The folks at Entrepreneur.com caution that while there is always room for a profitable clothing store to enter the market, it is a high-risk business prone to extreme highs and lows. During the holiday rush, the business may boom, while the summer months may see only a few customers per day. You will need strong business skills and a discipline for budgeting money to keep your apparel venture from coming apart at the seams.
If you ever wanted to open a restaurant, a mall food stand in the food court or another busy area of the mall gives you the chance to make that dream come true without the same risk as starting a stand-alone restaurant. Though the food court at a busy mall has a built-in, hungry customer base, it does not guarantee success. Consider partnering with a food franchise, unless you have a great idea with the experience to back it up. A food franchise gives you the chance to learn the business without the pressure of coming up with a gimmicky concept.
The kiosk, also known as a mall cart, offers a low-cost, lower-risk option to start a mall store. Many malls provide the cart, so there is a uniform look in the mall. You only need to provide the product and manpower to run the business. Inventory cost is minimal since you need only fill a cart, not an entire store, with products for sale. Plus, the lease on a kiosk can be arranged for a season, by the month or for a year, which allows you flexibility -- especially if you sell a product that is a big seller in the summer, but not so much in the winter.
Thomas Ferraioli began writing in 1993. His work has been featured in national publications like "Parents" and "U.S. Catholic." Ferraioli owns a cleaning service and is a Catholic youth minister. He holds a bachelor's degree in communications and business from Seton Hall University and was a recipient of the Pope John Paul II Award from the Archdiocese of Newark, N.J. for his work with youth.