MyConcessionBusiness.com

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When you are looking at food stands for sale, there are many things that you should take into consideration before making your purchase. These are available in many different sizes and styles with an endless number of equipment and appliance configurations.

First you need to determine if you are looking for new or used food stands for sale. New ones will have a full warranty but of course a used one will save you a considerable amount of money. Once you have made this decision, it is best to make a list of all of the options that you absolutely need as well as any additions that you would like to have that are not necessarily requirements or deal breakers.

When you create your list of needs, you need to take into consideration the type of food that you will be selling. Obviously an ice cream stand would have no need for fryers and a flattop while a funnel cake food stand probably doesn't need a whole wall full of freezers. You should also take into consideration storage area space. If you are only carrying one or two types of concession stand foods, you won't need as much refrigerator and dry storage space as someone who is preparing and selling full meals. Do you want three sinks or will you find a way to divide one large one to meet health code regulations? Will a dishwasher come in handy or are you selling prepackaged items? Depending on where you plan on setting up, you may need to consider an extra quiet generator that will meet certain park regulations as well.

There are many variables to take into consideration when shopping for food stands for sale which is why a list is a very helpful guide to have with you. If you are purchasing a used stand, you should check for any rust and be sure that all appliances work.

There are always many food stands for sale due to people upgrading, expanding or retiring so you don't have to jump into the decision. Find the one that has the perfect options to suit your needs in your price range.

Why start a concession business? Well, throughout history many people have been earning a very good living by satisfying the hunger of their customers. Purchasing food from a concession business is considered a tradition at various events and on special holidays. Millions of people across the country at fairs, concerts, sporting events and festivals enjoy filling up on their favorite foods and refreshments. So, why start a concession business? Because you will never be short of customers who will come to you and stand in long lines for their favorite food.

Owning your own business is almost everybody's dream but for many reasons, it is just not thought to be a possibility for most. However, for others, who really had the ambition to become self-employed and set themselves some goals, including students and retirees, they have found their niche for making a substantial amount of money in the concession business in a very short amount of time.

So, why start a concession business? Well, it is one of the few businesses that you can start with very little money and with or without a college degree. Also, virtually anyone with the dream of seeing the benefits of being self-employed can be successful in this business, whether you are young or old, retiree or someone just starting out in the job market.

Compared with other businesses, the concession food business will not fail just because the economy goes into a recession. There will always be special events where people will gather and will want to spend their money on their favorite food.

Looking for another answer to the question, “Why start a concession business?” It is one of the most fun jobs you can allow yourself to have. What could be a better job than one that is done in a fun and relaxed atmosphere where you are surrounded by interesting people who are there to have a good time? There are endless reasons why people start a concession business, what will be your reason?

Getting capital for your concession business is not as hard as you may think. Raising capital is a basic business activity that does not have to be painful. First, you will want to explore the following options:

• Personal Savings – Depending on the start-up costs of your business, you may be able to use personal savings and credit cards. However, if your credit cards have a high interest rate, this is not a recommended option.

• Relatives and Friends – Most relatives and friends will loan money interest free which is ideal.

• Banks and Credit Unions – If you have a sound business proposal, you will probably be able to get a business loan from a bank.

Writing a Loan Proposal

Getting capital for your concession business will require you to write a loan proposal. Ultimately, approval of your loan depends on how you present yourself and your financial needs for your business to the lender. Keep in mind, lenders want to write loans but they need to know that the loan will be paid back. An ideal loan proposal will contain:

• General Information – This includes the business names, owner name(s), social security numbers of owner(s), business address, purpose of loan and amount requested.

• Business Description – History, nature and type of business and how many employees you plan on having, if any, should be covered here.

• Management Profile – You will want to develop a statement on each owner of your business including background experience, education, accomplishments and skills.

• Market Information – Define the products you will sell as well as the market you will sell in. you will want to identify your competition and explain why you can compete and how you can fulfill the needs of your customers.

• Financial Information – This will cover the projected income statements and balance sheets as well as any collateral that you may be willing to use to secure the loan.

When you get your loan for your concession business, it is important to make payments on time, you never know when you will need another loan to expand your successful business!

Is the concession business profitable? The truth is, it is probably far more profitable than you can even imagine. Most people have the dream of becoming self-employed however, not everyone is either suited for the task or up to the challenge. Lack of commitment, inadequate capital or a fear of failure are all things that hold many people back.

However, there are plenty of driven individuals that will tell you that the answer to, “Is the concession business profitable?” is absolutely and positively, yes! Concession stand businesses offer the unique possibility for you to make a substantial amount of money within a very short period of time. With a moderate investment of your time and capital as well as a thoroughly thought out business plan, you can live a comfortable life that you would not otherwise be able to have if you were still on someone or some company's payroll.

If you compare the profits of a concession business with almost any other type of business, the concession will come out far ahead because it can be started with such little start-up capital, a minimum amount of additional employees or, in some cases, no additional employees and for the most part, far less hours worked. A full-time income of substantial size can be obtained with only a part-time effort.

When you run a concession business you have the independence and freedom to build your business and your income as large as you desire. You control your future. You will never need to be paid based on what your time is worth like at a regular job. Most importantly, you can never be written up, laid off or fired.

Also, the concession business can be a ton of fun. You are making money in an exciting and relaxing environment, surrounded by a plethora of interesting people. So, is the concession business profitable? It is profitable in ways that you cannot imagine. You can make an exceptional income, have fun and enjoy your life to the fullest extent being self-employed with a concession business.

Many people wonder, “Should you start a concession business in a slow economy?” After all, you will be investing your time and money into something that you do not know if the economy can support. A lot of potential business owners face this dilemma everyday. You may know that you have a product that has potential and you want to go into business for yourself but you are afraid that this slow economy is going to prohibit you from turning a profit. Will you be able to survive the start up period when revenue is low yet your your overhead is high?

The first thing you need to do when you are asking yourself, “Should you start a concession business in a slow economy?” is make sure that you have your old debt paid off and a little extra money saved up. You can profit from starting your own concession business, regardless of economy but you need to have money to fall back on when business hits a low, which it may do from time to time.

If you have a significant amount of money saved up to pay your bills, you will be able to solely focus on your business without the added stress of finances. So, should you start a concession business in a slow economy? Absolutely! As long as you are financially secure and you take the time to create a thorough business plan.

The best thing that you can do for yourself in a slow economy is become self-employed. A good majority of businesses are down-sizing, raises are rare and it seems like the average person works harder, longer and for less money. Concession stands are an ideal way to become self-employed. Additionally, you can even begin with only working on the weekends and keep your regular job while you are starting out. This way you can bring in a little extra income to pay off old debts, loans for equipment and save up a little nest egg so that when you are ready to go at it full time, you are financially secure, comfortable with the business and well-established.

The concession stand market is a growing business in this defunct economy. One of the most reliable concepts is that concessions never lose their novelty; this is the case for stands which sell food (items which are always in demand) and also for souvenirs (which are readily in demand at areas such as ballparks and sports stadiums). With hundreds and even thousands of people going into and coming out of sporting events and public venues, the concession stand business becomes a cash cow in which high volumes of traffic – and money – exchange hands from them to you.

A particular concession stand, such a a simple hot dog wagon, can yield amazing profits in a short amount of time. Consider the costs of running such a stand: the stand itself, even one of the cheapest ones, runs about at about only $2,000-$3,000 (used) or twice that price ($4k-$6k) for new models. Take into account the costs of materials (at the most, you'll spend about $100 in materials such as hot dogs, buns, condiments, and even pre-packaged chips and canned or bottled drinks). With only a $100 investment in materials, you can make over triple that amount in only one day's worth of sales, if packaged correctly. Putting together a meal (hot dog with fix-ins, chips, and drink) can justify a price of $3.00-$5.00; even if you decide to be generous and sell for cheaper than this, you will still come out with money in your pocket to cover expenses and pocket the rest. Think about this: the cost to make a hot dog is about $0.17 for the dog, $0.10 for the bun, and less than $0.05 for condiments; add chips ($0.40 per bag) and a drink ($0.25), and you've got yourself a total cost of $0.97 for the meal! At a $3.00 price point, you're making just over $2 in profit per sale!

Location is the key to your success. Placing a concession stand at a location known for its traffic, and also providing convenience in an area where food or drink is not readily accessible, provides you the opportunity to rake in the cash. Think beaches during the summer, or even just outside schools. Target those who are looking for a quick bite to eat on the fly – these will be your constant influx of revenue. Imagine school's out, it's a nice summer day. No one is at home, everyone's at the beach enjoying the surf, sun, and sand. Swimming sure does work up an appetite – make sure to provide your service to them, because they'll be dying to have one of your meals. And if it is something as simple as a hand-held hot dog, they'll likely buy more than one meal throughout the day! Repeat customers in a highly saturated location; you're bound to make huge amounts of money in little time, and with very little investment. In only a few short months, maybe even weeks (if you're truly motivated), you'll have made back the money you put down for your cart, and will have established a strong customer base with your continued presence at these locations.

Concessions are probably the best way to make money in this tough economy, as you're able to reap the benefits of a cost-effective business model, along with high volumes of customers, in a time when people want – nay, need – your product. Just provide the service, and the product will sell itself! Good luck in your future money making!