Thread: How profitable do you think a candy kiosk in the mall will be?

I'm thinking of getting a kiosk in a small mall which supplies snacks, candies and drinks. Do you think it'll be a profitable business in the mall?
I really don't know where to start for researching candy stores. I've never really seen one. Anyways the idea is to buy candy in bulk and sell it at cents and a dollar or two. No other candy or snack place exists at the mall. I guess I'll be a one person vending machine.

Any inputs will be appreciated.

Thanks.

A friend of mine had 3. Maybe the business is different in my country, but overall he said that it was draining his life out and couldn't stand it anymore.While they were making a good profit, He sold the 3 of them. He tried several ways to automate the business a little but it was almost impossible (for him)

In Toronto there is a franchise that actually does that exact concept and I know the former owner who has now sold his whole franchise operation and I know some of his mall locations and in the core were doing really well.

What is your goal with vending machines? Are you just looking to make some pocket change? If so, sure- this could be a great way to go.

What are your general financial goals and would vending machines get you there?

Originally Posted by yveskleinsky

What is your goal with vending machines? Are you just looking to make some pocket change? If so, sure- this could be a great way to go.

What are your general financial goals and would vending machines get you there?

I'm not putting vending machines in the mall. I want a kiosk with candies, snacks, etc. We have two small snack bars in two different lunch rooms at my work place. I've talked to the guy who runs it and he says those two snack area generates approx. 100k a year. So I thought of running a small snack/candy shop on a kiosk in a mall that I assume have about 500-800 people go through on the weekday. I haven't looked into the kiosk pricing, but I'm assuming me making about $50 from snacks a day will be able to cover at the least..rent.

Sorry- kiosk, not vending machines. Do some homework and figure out what it would cost to rent a kiosk and how much you would need in the way of candy and that should give you a general idea. Are you planning on being there everyday or would you have employees? ...Probably your best bet is to pick the guy's brain who made over $100k last year doing what you are wanting to do. Make a list of questions and "interview" him- see what advice he has to give.

I've thought about those situations. I think it's very hard to turn it into something that will not require me to be there most of the time. I have about 2 years left in my current job contract. The plan is to have my wife work at the kiosk as extra income. If the kiosk runs will the both of us can work there for a bit. My ulitmate goal is to own some single family houses and rent them out, then eventually grow from there. I know this isn't fastlane thinking and I know this is creating another "job" for me and her, but I believe it'll be better than her working for some other place getting paid less money. I don't have the money to just put down on several houses and have to build it up some how. So having a kiosk is what came into play after talking about it.

Ok- it sounds like you have a direction that you want to head (SFH) but haven't figured out how to gain traction in that area. Perfectly normal. My two cents is that by starting a kiosk will only serve to detract you from your real goals, and frankly seems like you're taking the long route to get what you want. How about doing some reading/ research into how you can afford to get started in SFH? Tip: read Steve Allen's Nothing Down for the 2000's. That should get you started. Remember, everything is negotiable in real estate. My attitude is if I am a willing buyer and they are an eager seller- everything else (including money- or lack of it) is just details. Maybe start a post on how you can afford to get started in rentals- and let's brainstorm in that direction!

Originally Posted by yveskleinsky

Ok- it sounds like you have a direction that you want to head (SFH) but haven't figured out how to gain traction in that area. Perfectly normal. My two cents is that by starting a kiosk will only serve to detract you from your real goals, and frankly seems like you're taking the long route to get what you want. How about doing some reading/ research into how you can afford to get started in SFH? Tip: read Steve Allen's Nothing Down for the 2000's. That should get you started. Remember, everything is negotiable in real estate. My attitude is if I am a willing buyer and they are an eager seller- everything else (including money- or lack of it) is just details. Maybe start a post on how you can afford to get started in rentals- and let's brainstorm in that direction!

Yeah your correct. I figure if I get more money I'll be able to get more houses...so you're saying I should just start looking into buying sfh? My leftover money after everything is paid off is about $400. Where can I start? I think a profitable candy stand will bring me more income for the time being.

Let's start a new thread that will help you brainstorm and move in the direction that you really want to go! ...Look under the residential real estate section- start a post and we'll add to it.

Next, I would go to amazon.com and order Nothing Down in the 2000s- once you finish start a post about it and we can discuss ideas. Lots of people here have made lots of money in SFH starting with very little. It can be done, and your starting point is more often the norm than the exception.

Also, you may want to visit the goals/fastlane plan section and get feedback from people there.

I think (though obviously more research would need to be done) that a candy store with an innovative store design would be very successful IMO.

Kiosks I don't know, they are cheaper to start I'd imagine, but remember one thing, DO NOT HAVE IT WHERE YOU HAVE TO TRUST PEOPLE WITH MONEY. If you do that, you'll get robbed blind. You have to create a system somehow that prevents people from robbing you.

Then you can automate and replicate the kiosks.

Speaking of which, how exactly do the big chain stores and franchises keep the cashiers from stealing money from them when people buy things...? Anyone know how exactly that works?

Originally Posted by yveskleinsky

Let's start a new thread that will help you brainstorm and move in the direction that you really want to go! ...Look under the residential real estate section- start a post and we'll add to it.

Next, I would go to amazon.com and order Nothing Down in the 2000s- once you finish start a post about it and we can discuss ideas. Lots of people here have made lots of money in SFH starting with very little. It can be done, and your starting point is more often the norm than the exception.

Also, you may want to visit the goals/fastlane plan section and get feedback from people there.

I want to be able to get out of my current contract and still sustain my family afterwards. I think that's why I'm having a harder time going with the real estate route because I don't think it'll produce enough cashflow for me in two years. I'll only be able to go so far till I'm not able to get a loan anymore for buying more houses.

Originally Posted by WheelsRCool

I think (though obviously more research would need to be done) that a candy store with an innovative store design would be very successful IMO.

Kiosks I don't know, they are cheaper to start I'd imagine, but remember one thing, DO NOT HAVE IT WHERE YOU HAVE TO TRUST PEOPLE WITH MONEY. If you do that, you'll get robbed blind. You have to create a system somehow that prevents people from robbing you.

Then you can automate and replicate the kiosks.

Speaking of which, how exactly do the big chain stores and franchises keep the cashiers from stealing money from them when people buy things...? Anyone know how exactly that works?

From my experience they usually set up cameras that shoot directly to the registers. At the end of the day the cashier cashes out and the cash and total amount have to match.

The cash in the register and amount recorded electronically have to match?

The problem for my friend was that usually cashiers bought their own stuff somewhere else (like cigars and candies) at lower prices and they sold it in the store. So stock was always ok and the cash too...

Originally Posted by Russ H

Walley,

I realize that you've probably never stolen from an employer-- but you've got to learn how to think like a thief to avoid getting robbed.

Person who works at a kiosk simply has a small amount of change, away from the cash register and camera. When they get a cash sale that they have change for, they take the cash, give the person the item, and give them change. They then keep them talking, so that the person doesn't ask for a receipt.

Voila. There you have it. A great way to double your money each day by stealing your boss blind.



The others on this thread have been kinder and gentler. So I guess I get to be the bad cop.

Being a one-person vending machine is

Deeply, disturbingly,

You can get advice on how to live your life in the slow lane from 100's of other websites.

This is the fastlane.

The whole concept of the fastlane is to STOP THINKING SLOWLANE.

Stop looking at buying yourself a J.O.B., especially when it can be automated.

Stop using phrases like "It's very hard to turn this into something that will not require me to be there most of the time."

Stop even LOOKING at things that require lots of your time in order to work.

It's only hard b/c you're looking at it from the perspective of the slowlane.

START THINKING FASTLANE.

That's why you're here, right?

So I repeat my earlier question:

How could you make a mall kiosk a non-labor intensive operation?


Begin to come up with approaches and answers to this question, and you will be starting on your journey away from J.O.B.s and into building businesses and wealth.

-Russ H.

Thanks I need a kick in the butt