MyConcessionBusiness.com

Posts Tagged ‘concession business’

Below is Part 5 of the email I received from Dave, an experienced and successful concession vendor. He has a lot to offer and gives me motivation and hopefully you as well.  He discusses how important it is for your stand or trailer to look good and offers some sage advice. Here we go:

Thanks Dave!!!

Below is Part 4 of the email I received from a successful vendor who sells mini donuts and other items at his trailers. Thanks Dave for sharing this info with our readers!

Also, you never want to get too far ahead of yourself with making the donuts. I'll start the morning off with one batch, which gets me about 12 bags. When I get down to 2 bags, I'll start another batch. When I start frying, I turn my exhaust hood on, and the aroma gets drawn out of the trailer into the field. And this aroma draws people to my trailer! Smell sells when it comes to donuts! I've seen some vendors with smell-sensitive things like kettle corn or mini donuts who want to make their entire product first thing in the morning, so they can just sit there and sell and collect money for the rest of the day. Then they sit there and wonder why they can't move their product. Smell sells... trust me! Make them as you need them, that way the smell will keep drawing people to you, and people will get them nice and hot when they're best. And if people get donuts that they think are really good, they'll be repeat customers. It took me 5 years selling at the same location to build my business to where it now is. That trailer is a stationary unit by the way... it stays at the market year-round, and has not moved from that spot since 2006. I usually sell between 150 and 200 bags of donuts on a typical day now... I think my record day in 2010 was 236 bags. There are days I cannot keep up with the demand... I've got people placing orders and waiting, and I just keep making them as fast as I can. It takes the machine about 1 minute to make 1 bag of donuts. So there are mornings I'm literally making $3 a minute for hours. And that's just on donuts. I sell so much coffee that I needed to invest in a second commercial airpot coffee maker. I could not keep up with just one machine. I sell usually around 30 airpots worth of coffee in a morning. I also do tea, hot chocolate, iced tea, iced coffee, smoothies, canned soda, and bottled water. It is a relatively simple menu, but the trailer runs like a well-oiled machine, and everything I sell is very high profit. I buy bottled water cases at Costco... it amounts to about 15 cents a bottle, and I sell it for $1.50. On a hot summer day, I could easily sell 50-70 bottles of water. Another thing I should mention, which I think is a large part of why I have been successful there at the market, is because I keep my trailer very clean. People like to see that. I also like to use all professional signage... I think hand made signage is tacky and looks unprofessional. I got those "Dave's Donuts" signs made up last year at a professional sign shop. People want to shop at a trailer that looks professional and clean, and if you have a good aroma coming from it, that's a plus as well.

Back in 2007, a fresh squeezed lemonade stand opened up 2 spots up from my donut trailer. It was a simple setup, just a table and umbrella and ice bucket, but damn... they did a good business! They'd have a line on any sunny hot day during the summer. That space had been vacant for a while, and I was kicking myself for not starting up something like that on my own. I told myself, if and when the time comes that they close, I'll take over. Well, 2009 came along and they never returned. 2010 came and the spot was still vacant. So I finally took some initiative and talked to the market manager, and he agreed to rent me the spot to sell lemonade. So then I had to find a trailer, outfit it how I would need it for lemonade, and get it to the market ASAP because the hot summer days were quickly ticking away. I found a used 6'x10' concession trailer on Craigslist that I thought would do the trick. It's my only "real" concession trailer... a Haulmark, not a homemade job. And what a difference in quality! I will NEVER buy another homemade concession trailer. The Haulmark is very well built. No leaks, and a solid floor. Here's a video of what it looked like when I first bought it:
http://www.youtube.com/watch?v=3V2w5cNmDIU

Stay tuned tomorrow when Dave talks about the importance of your stand or trailer and why it should look good.  He gives you some advice on where to find wraps and things to make it look its best!

Still wondering where to start a successful concession business?   Below is an excellent site to get you started, it will help you answer a lot of questions you may have.  There is no limit to the number of questions a future business owner can ask,  this site really breaks it down for you.  Definitely a good read.

Click for Help with Starting  your Concession Business

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?

Hi Everyone,

I wanted to share with you an email that I received from one of our blog readers...  I am posting it here with his permission.  I think our readers will gain a lot from his experience in the field.   It is a lenghtly, informative email so I am going to break it down into 3 or 4 sections posted in 3 or 4 days.  Hope you enjoy.  Below is discusses how he got started and a little advice for setting up your trailer.   A lot of people reading this blog are interesting in selling the donuts concession style, for example at flea markets and the like.   If you are interested in doing that,  there is a great website that will basically "hold your hand" and teach you the ropes in explicit detail,  head on over to:

Concession Trailer Business

I don't do a lot of promotion of the site, except in the forums I've added a banner.. but it truly is a good resource.   Here is Part 1 of the email,  thanks again Dave for your excellent advice!  I have found (and as I have told Dave) that people in the concession business are so secretive with their information so this is a rare glimpse in someone that is actually walking the walk.

Making money fast is easy to do if you open your own concession food business. It can be something as easy as starting an ice cream concession cart that you can set up at local parks or you may want to choose a business more extravagant such as a food concession trailer serving up funnel cakes, french fries, caramel apples or endless other food favorites.

If you are in need of making money fast whether it is just extra cash to pay for school, save up for a vacation or pay off some bills or something bigger like using it as your sole source of income, a concession food stand business is perfect.

The first thing that you need to do is choose what kind of business that you are going to open and where you will actually sell your product at. Will you move from location to location to different events where people are gathered or will you set up at a more permanent place where you can reap the many benefits of having loyal, returning customers? Both choices offer many methods of making money fast. The best part, opening your own concession food business takes very little start up capital. Many companies even allow you to rent carts and trailers so that you can try the business out before you purchase one for yourself.

Another benefit of making money fast with a concession business is that you do not have to spend money on advertising for you to generate business. All you need to do is open up and people will come to you. Also, if you would like to only carry one item so you do not have to invest or worry too much about inventory, making money fast is still possible. Many successful concession food businesses make phenomenal profits with a limited menu. If you are looking to become self-employed in a way that making money fast is possible, the concession food business is perfect for you.

There are a few basic business strategies that you should apply regardless of the type of business that you are in. Quite often, entrepreneurs are so preoccupied with all of the immediate issues and day to day tasks of running their business that they tend to lose sight of what their ultimate objectives are which is why a strategic plan is so incredibly necessary.

Do not confuse a strategic plan with a business plan, they are not the same thing. Your strategic plan actually provides the foundation for your business plan. An effective strategic plan needs to be both attainable and realistic. Basic business strategies include reviewing past performance of the business and employees, focusing on all matters that are of strategic importance including marketing, and distinguishing clearly between cause and effect.

When you develop your strategic plan you need to clearly identify the current status of your business as well as all of your objectives. Write out weaknesses, strengths, opportunities and threats. You need to focus on building on your strengths, exploiting all of your opportunities, avoiding potential threats and resolving your weaknesses.

Next you need to take the time to set your business goals. These should be specific, time-based measurements that you plan on achieving by implementing your strategies. Your goals should be consistent, achievable and quantifiable. They can relate to finances, products, market, utilization, profitability, expansion and efficiency.

When outlining your basic business strategies, your objectives, strategies and goals need to be inter-linked and also consistent with each other. Of course, this is easier said than done since most businesses are set with objectives of purely becoming exceptionally wealthy as fast as possible, but they lack realistic goals, strategies and concise missions. Make sure that you develop attainable goals and review your strategies often to make sure that you are on track to be successful with your business.

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!

Finding a Mentor in the Concession Business

Finding a mentor in the concession business is actually simpler than in other businesses, for the most part, because concession entrepreneurs have all been where you are and once too had the dream to become self-employed. You will find that most people either currently in the business or retired from the concession business are good-hearted individuals and as long as you are not trying to to use their knowledge to take their business away, they genuinely want to help.

So, how do you find the right one? That depends on how selective that you are. Most governments will offer mentoring for small businesses. Quite often, they will offer entrepreneurs free workshops and mentoring from successful retirees. There are also professional organizations that offer mentoring programs.

Direct Personal Contact

Finding a mentor in the concession business is most commonly done by finding someone in the business on your own. An easy way to do this is to go to a fair or a festival and find a busy business. After closing or during a slow period, ask if the owner would mind if you set up an appointment to speak with them for a half hour or so one day or if they can recommend any good mentoring organizations in the area. There is a good chance that they will be flattered and happy to talk with you and possibly be your mentor or at least point you in the right direction of finding one.

Choosing From Several Mentors

If you are choosing a mentor from several choices, you need to decide which one is right for you. Meet with them and have a prepared list of questions that are important to your decision. Find out their current situation, history and goals. When you propose a mentoring relationship, you need to be sure to spell out expectations and goals. Remember that even though a mentoring relationship usually lasts long beyond a few meetings, neither one of you is obligated to be locked into the relationship.

There are many fantastic benefits of being self-employed. You may find yourself wanting more in life and a job that you have been comfortable at for so long may just not be satisfying you anymore. Perhaps you are tired of the predictable routine of your day job and being paid what someone else thinks that your time is worth and never being appreciated. Taking the first step to become self-employed is the hardest but once you get started you will be able to bask in all of the wonderful benefits of being self-employed.

Job Security

People are being laid off and fired for no reason other than the company needing to cut wage costs which means the employees that are still employed are having to handle more work than ever before without any additional money. You can lose your source of income at any time. Why give someone else control over your future? One of the benefits of being self-employed is that no one has the power to fire you. Only you control your future.

Hourly Pay

More and more people are forced to work longer and harder hours for far less pay than what they are worth. When you become self-employed, you control what hours you work and how much money you ultimately make. For example, brilliant individuals will start a concession business and only work the spring and summer, selling their product at fairs, festivals and sporting events and make enough money to live on all winter. Sure they work hard but then they have a season to travel and relax and do whatever they want.

Experience

When you work the same job everyday, you are never furthering your experience level. Is the job experience that you have right now going to keep you employed and be worth any value 10 years from now? One of the fabulous benefits about being self-employed is that you can constantly learn things that you can apply to your business to increase your success.