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How do I get the ideal spot?


I'd like to start a coffee cart sort of business, and I wasn't sure how to procure my location... The mall, or a nearby shopping center? The mall is far away, but it has more traffic, and yet still, It cost more. Also, I don't know how to "get in", how do i get the mall to allow me the spot? Any info. would be great! Thanks!

The top three rules in the value of real estate are: (1) Location, (2) Location, (3) Location. If a location cost more, it's because it is worth more!

Often times when new business owners are starting up, they see the price of their rent as a huge number. If you will analyze the entire business more carefully, you will find that your rent becomes a small percentage of your whole business expense. Add all expenses together including your cost of goods sold, labor, insurance, advertising, legal and accounting, etc. and then you you can measure the difference in the rental cost of these two locations as a percentage of your entire operating cost. As an example if you discover that the better location increases your operating cost by 20% but your traffic is increased by 100%, you can guess that you would be much more profitable at the higher traffic location. Many people make the mistake of choosing the nearby location for their personal convenience. If you want to be closer to work, choose the mall location and then when business is going well - Move closer to the mall.

Usually you have to pay the mall for a spot inside of it. I'd talk to the mall leasing office.

I would recommend you spend some time at the Small Business websites sponsored by the US government. They also have some retired business people who will work with you and help you build a business plan. Then you're much more likely to be successful. There are lots of things like board of health certs, taxes (employer, employee, company), and it sounds like you're just getting started with some ideas.

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