Bjensen8969
New member
- Sep 26, 2016
- 3
- 0
Hello all, I'm new to the forum and the industry and hoping for some advice! I'm planning to open a coffee kiosk in a mall and would love to get some honest feedback from anyone who has been there, or in a similar situation. I've been blatantly discouraged from moving forward by a company we were considering hiring to help with our startup and training. This company specializes in helping new coffee businesses start up, I'm not sure if I'm allowed to name them. They also put me in contact with a mall kiosk owner from another state who is closing his shop after 4 years of poor sales, he was equally discouraging.
However, the numbers are still telling me this is a good idea. I'm currently a manager for another store (not coffee) in the same mall where I hope to open, so I have a fairly realistic outlook on what type of sales we can project. I've also met with owners of some other food-related kiosks in the mall (a pretzel kiosk, candy kiosk, and a gourmet popsicle kiosk) and they've shared their sales reports with me.
So here is a breakdown, and hopefully you all can help me see if I'm missing something big. I'm projecting around $16000 in sales monthly, that number should at least double, if not triple during the holiday months. Rent would be about $2000. I'm basing supplies on what the previously mentioned company suggested, and that number is 25% of sales (is this realistic?). And finally, I plan to work full time myself, and then hire 2-3 part time baristas and plan to budget 1800-2000 for payroll, not including myself (again, I currently manage a store in the same mall, so I belive that is a realistic payroll budget for this location). So, I am figuring a fairly decent profit margin for a kiosk business. I will also say that the kiosk owner who is closing told me his numbers were very similar to my projection (although he is in a much lower traffic mall). I don't plan to get rich doing this, but if I can work for myself doing something I enjoy, and be profiting $8000 a month on average (and that's a whole lot more than my managers salary I currently make), I am confused as to why the "experts" are warning me not to move forward.
ANY advice would be greatly appreciated.
However, the numbers are still telling me this is a good idea. I'm currently a manager for another store (not coffee) in the same mall where I hope to open, so I have a fairly realistic outlook on what type of sales we can project. I've also met with owners of some other food-related kiosks in the mall (a pretzel kiosk, candy kiosk, and a gourmet popsicle kiosk) and they've shared their sales reports with me.
So here is a breakdown, and hopefully you all can help me see if I'm missing something big. I'm projecting around $16000 in sales monthly, that number should at least double, if not triple during the holiday months. Rent would be about $2000. I'm basing supplies on what the previously mentioned company suggested, and that number is 25% of sales (is this realistic?). And finally, I plan to work full time myself, and then hire 2-3 part time baristas and plan to budget 1800-2000 for payroll, not including myself (again, I currently manage a store in the same mall, so I belive that is a realistic payroll budget for this location). So, I am figuring a fairly decent profit margin for a kiosk business. I will also say that the kiosk owner who is closing told me his numbers were very similar to my projection (although he is in a much lower traffic mall). I don't plan to get rich doing this, but if I can work for myself doing something I enjoy, and be profiting $8000 a month on average (and that's a whole lot more than my managers salary I currently make), I am confused as to why the "experts" are warning me not to move forward.
ANY advice would be greatly appreciated.