Recently, there was an article in the Nightlife section
of the local Minneapolis paper that caught my attention.
It seems there are more than a dozen major nightclubs and bars across the Twin Cites set to open this summer.
The theme of the article was how the opening of so many new nightclubs and bars at this time seems to fly in the face of the current economic situation.
While it might seem strange to open these locations in
the face of a shrinking economy... the owners of these
new establishments said the time couldn't be more right.
"The economy is the REASON we're able to take this place over," one nightclub owner said. "I don't think the location would have been open if the economy wasn't in the shape
that it's in."
"Landlords are more willing to strike deals NOW because a lot of deals aren't happening," said another bar owner.
This article caught my attention because there are many
similar opportunities available in the cart and kiosk industry.
Many malls that have been difficult to get into, now have space available. While other malls that have been expensive,
now are priced more reasonably.
Some malls are simply offering sweetheart deals to attract new tenants. This is really happening...
When I opened a cart recently for Mother's Day, the
rent was 75% of what was asked in a similar situation
The mall was extremely flexible. They even let me open for a couple of weekends in April on a percentage rent
I found consumers were STILL buying.
I actually had my best single sales day ever with this product, just last month, in May.
And as surprising as it may seem... sales were UP...
significantly... as compared with last year.
Which made the whole deal quite worthwhile...
With consumers still buying, locations easier to secure, and terms more favorable, this just may be an ideal time to open a cart or kiosk.
Or expand a program.
It's a scenario that's being played over and over again...
When I went to the cart and kiosk show (SPREE) show in April, supplier after supplier said the same thing...
They were planning on EXPANDING their corporate programs this year.
That's because they were getting offered much more favorable deals from the malls.
When you're given lemons, what do you do?
Facing an economic downturn?
Turn it to your advantage by making better deals.
There ARE good deals out in the marketplace. And good money to be made.
It's really about finding the opportunities that are available.
In case you've missed it, my message is this:
Don't let this economic downturn go to waste!
P.S. Looking for a cart or kiosk product that "flying
off the shelves?"
In the coming days, I'm going to profile a couple of newer concepts I saw while in Las Vegas while at the
cart and kiosk (SPREE) show.
If you want to hear about them, and are not registered for my product profile email list, register here now:
P.P.S. If you can't wait to hear about these concepts, shoot me a quick email or give me a call, and I'll share details on them straight away!