buying existing coffee kiosk

[Jimmy Marcuchi]

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

 

[celement]

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.