A lot of us have a dream to make passive income and quit our jobs one day. If you are planning to build your passive income fast, then you can consider starting a kiosk business.
If you have the right product and employees in this business, you can make a high passive income.
Moreover, kiosk business does not require much investment like other brick and mortar businesses. It is more like a retail business.
Why Kiosks Business is a Great Idea?
Here are a few reasons why Kiosks is an excellent idea for building your passive income:
- Unlike many brick and mortar business, there are no long-term contracts.
- There is a lot of foot traffic, as you will have your kiosk in the centre of the mall.
- Lowest investment compared to other business models.
- A quick way to make more passive income.
What Kind of Product would You like to sell?
Generally, casually shoppers will not be interested in buying products from a store that sells all types of products. You should have a niche-specific kiosk as it can attract more customers to your business.
Try to sell products that cost less than $40, so that customers can quickly purchase. If you have a high ticket product, you cannot attract more customers to your business.
Some of the best business ideas that can be worth considering are custom T-shirt printing, ice cream, snow cones, jewellery, pet gifts, etc.
What is the Cost of a Kiosk?
If you are planning to start your kiosk, you might be surprised to know what the setup cost is? On average, you need to shell out $1,500 to $2,000 for one kiosk. Apart from this, there is no monthly fee involved in maintaining the kiosk.
Apart from the kiosk, you must find a dependable employee who can handle your kiosk. If proper training and information is provided to the employee, he has the potential to drive in more sales to your business.
On the other hand, you do not have any long term agreement to be done with the mall owner. Hence, the cost of setting up your kiosk in malls is also very low. If you are selling any seasonal product, then you can ask the mall owner to permit you to set up your kiosk only in the seasonal months. This way, you can further reduce your investment.
Making it Passive
Since kiosk does not require much foot space, you need to find a dependable employee to run this business. You can either pay the employee on an hourly basis or can pay based on the sales.
This is how you can build your passive income with the help of a Kiosk.
