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  1. #1
    Junior Member
    Join Date
    Jul 2005
    Posts
    6

    buying existing coffee kiosk

    I recently looked at a small kiosk for sale in a good size mall.
    There are four other establishments selling coffee, in the mall ( one is a Starbucks), but the kiosk has a very good central location on the first floor.
    The business is not presently doing the amount of business, that I would need to make it a vivable venture or me, and one of the owners suggestions is that the addition of a visa/mastercard machine would bring in additional business.
    My question is, how much additional business might I expect by taking visa/mastercard.
    An what percentage of the existing business would switch to credit/debit cards thereby lowering profits .
    Thank you ,
    Jimmy

  2. #2
    Senior Member
    Join Date
    Apr 2005
    Location
    Modesto, CA
    Posts
    130

    not enough

    Honestly opinion is that adding cards isn't going to increase the business substantially - I personally Just Do Not Believe it.

    We just added it and I'm glad we did mind you, but we're talking 10 customers a day using it and before I didn't have it 8 of them were buying with checks or cash. So I've added 2 customers a day - 60 a month - no way that changes the outcome of my business. ($250 a month?).

    You should be able to do quite well though against starbucks offering specialty drinks, something unique and different - I'm pusing that hard right now and my business is coming back after 2 of them opened within my immediate vacinity.

    Good luck....don't pay for potential...pay for the results.

 

 

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