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Saturday, June 10 50 Ways to Save Money in Your Business
12. Be mobile. While the costs of establishing a permanent retail location can be steepyou may spend up to $100,000 or more, with leases spanning three to 10 yearscarts, kiosks and temporary spaces can be an easier way to get a foot in the door with a lot less risk. The upfront investment for a kiosk or a cart ranges from just $2,000 to $10,000, according to Patricia Norins, publisher of Specialty Retail Report. License agreements for carts and kiosks are shorter and are usually renewed every month up to one year depending on the location. This arrangement makes it easy for entrepreneurs to "come in, try it out for a month, and if their product isn't working, shift to a new product line or close up shop and move to a new location," Norins says. |
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