MyConcessionBusiness.com

Posts Tagged ‘concession business’

  If you have been to a fair or a festival, there is almost a guarantee that you have patronized some type of a concession business, whether it was food or drink. Fairs and festivals really are ideal for the concession business because a good percentage of visitors come to these events for the sole purpose of eating and they come to spend money.

 Just like baseball is associated with hotdogs and peanuts and the movies scream buttery popcorn, fairs and festivals represent some of the favorite foods of many people, especially funnel cakes, pretzels, elephant ears, cotton candy, caramel apples, ice cream and of course, hotdogs and popcorn.

 Fairs and festivals are the ideal venues for concession stand businesses because they provide a constant flow of foot traffic that purposely comes hungry so they can eat as much of their favorite food as possible. There is no restaurant competition to deal with. The only choice that people have is to purchase concession stand food, not that they would choose any differently anyway.

 These events offer low overhead, easy set up and a guarantee of hundreds or sometimes thousands of potential customers everyday. Even if the weather is bad and there is an off day in visitor numbers, all of the employees of the fair or festival still need to eat.

 These places are full of concession stands and most business owners will watch out for each other. Bathrooms are convenient as are water sources and waste removal and the profits are huge. On a hot day, people will spend a large amount of money on a beverage as long as it is cold enough to quench their thirst and cool them off. The best part is there really is not a “bad” location to be set up at, there is the potential for huge profits whatever location you secure.

 Concession stands symbolize fairs and festivals, you almost cannot have one without the other. These exciting events offer concession stand business owners the opportunity to make a substantial amount of money in a very short period of time.

  Finding the right location for your concession business can most definitely be a daunting task. Location is the key component to the success of any business, especially a concession stand. The location possibilities are truly endless to set up shop at including fairs, festivals, carnivals, flea markets, malls, parks, etc. Of course, the spot that you ultimately choose is often going to be influenced by just how much money that are willing and able to spend to secure your desired location.

 Outdoor events are perfect places to look when you are trying to find the right location for your concession business. You are looking for a spot where there is a consistent flow of heavy foot traffic. Carnivals and other outdoor activities are ideal to set up at because there is easy set up involved and overhead costs are generally quite low.

 Keep in mind that the prime locations at an event are going to cost you more than being in the sidelines so this gives you another huge decision to make. You may choose to pay top-dollar because you know the profit will be well worth it if you set up where the masses will flock to eat or you can often pay a substantially less amount of money and be where there is less foot traffic. However, if you are selling a more original product that other concessions may not have, you may opt for this choice because the people will travel a few extra steps to access your product.

 You may even want to consider setting up at food drives or charity garage sales. These events draw a giving crowd and if you are giving a small amount of your profits to the cause, you will attract even more traffic.

 There are endless possibilities of where your business can take you. Do not put a lot of stressful thoughts into finding the right location for your concession business. Go where the people are, sell a tasty product and offer outstanding customer service and you will do just fine.

  Starting a concession business with multiple owners is a fairly common occurrence. There are many advantages to doing so however, it can also lead to serious complication with time if you do not have a clear cut, drawn out agreement of business goals and each owner's responsibilities.

 When you dig to the root, a concession business is just the brilliant idea of a person or people who want to become self employed and make money.

 The idea of starting a concession business with multiple owners is a fantastic one but when a problem does arise, it can lead to disaster. The biggest conflict that multiple owners have is over power, especially if the business is successful.

 If you start a business with someone whether they are a family member or your best friend, you have to write in detail, who is responsible for what, hours that will be worked, goals of where you want the business to grow to, etc. Without these, you could ultimately have one person doing the large percentage of the work and feeling resentful which not only causes problems in the business but also in your friendship.

 You should also take the time to discuss what happens to the business if someone doesn't hold up their end of the job or decides that they want to venture off on their own in a different direction. How will issues be handled? This all needs to be put in writing. You may feel a bit uncomfortable discussing such matters since you do not want to hurt each others feeling and there is a certain level of trust obviously already there however, owning a business needs to be handled like a marriage with a prenuptial agreement to protect everyone that is involved.

 Starting a concession business with multiple owners is common and usually successful. It certainly helps to have a shared workload but to avoid any future problems, be sure that everyone is on the identical page from the beginning and put in in writing.

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.

Forming a business plan for a concession business is the most important step of the whole process. Chances are, you probably already have an idea of what you plan on selling but if you don't, this is the time to make that decision. Your business name will need to be determined which should relate to your product and you will need to select a business structure for tax purposes. You may want to do a bit of research on the pros and cons of a limited liability company, sole proprietorship or a partnership. Also, if this is going to be a partnership, you need to be precise with what each person's responsibilities will be.

When you are forming a business plan for a concession business, you need to be aware that you will probably need a certificate granted from the health department that states that you are educated on how to prepare and serve food in a safe and sanitary way. You will also need a license allowing you to do business.

The next thing you will need to do when forming a business plan for a concession business is set up a realistic time line and use this to establish your goals. This time line will also help you decide the time you are willing to spend on development and marketing. Be careful not to make the mistake of setting unrealistic goals.

You will need to spend a bit of time analyzing opportunities for your business. Do you plan on being grounded at one location or will you have a concession trailer and travel from festival to festival. Your time line will also allow you to create milestones for securing your location, buying equipment and your estimated date of when to open your business. List intermediate and long-term goals that are attainable and attractive to investors and banks. Of course, if you are seeking outside funding you will have to know how much money you will need and be able to explain exactly how it will be used.

Forming a business plan for a concession business may seem like a time consuming task but it is the only way to be sure that you cover all important areas that need attention along the way to obtaining your goals.

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.

When temperatures turn hot, nothing is more profitable than an ice cream concession business. The best part about ice cream concession trailers and trucks is that many vendors will rent these to you to use to start your business until you are ready to actually buy one of your own.

So which will you choose? A trailer, truck or cart? Trailers are ideal if you want to set up at events like festivals and fairs and offer extensive amounts of product, trucks are ideal for taking your business on the move and venture through neighborhoods, school sporting events or local parks and carts are perfect for a smaller scale business on the strictest of start-up budgets.

When you are opening your ice cream concession business you will need to make some very important decisions. Will you sell soft serve ice cream in the form of cones or sundaes or are you going to deal exclusively with individually packaged treats? If you are selling soft serve, what toppings and syrups will your offer? You will also need to decide on a supplier that you are going to order from and place your initial order.

You will need to check in your area to find out what permits and licenses that you will need to legally sell and you will have to get set up to take payment. If your ice cream concession business is going to be in the form of a truck or a cart, you will only need a cash bank to make change but if you are looking into a trailer, you may want to open a merchant account so you can take credit cards for all of those large family orders.

Ice cream concession businesses are an ideal way for virtually anyone to open their own profitable businesses and they are a ton of fun. What better job could you have for the spring, summer and early fall where you can be outside, set your own hours and put smiles on the faces of hundreds or even thousands of people? Everyone loves when they see an ice cream concession so make the world's favorite treat your business!

The procedures for getting a business license may vary slightly from state to state but regardless of location there will basic similarities. Some issues regarding permits, licenses and business names can be a bit of a handful for new business owners so for some matters, you may want to seek the help of a lawyer or a mentor in the business to guide you through the process.

You may be asking yourself do you really need a license? Most likely, the answer is going to be yes, unless of course you plan on conducting business illegally. Getting a business license is absolutely necessary but not to worry, the fees that are associated with this task are usually quite minimal.

Traditionally, the place to go for getting a business license will be your local city hall building or courthouse. Upon arriving, the city clerk will be able to direct you where you need to go in the building and you need to speak with. You can also make a phone call to the county clerk's office if you have questions, they can be found under municipal government offices in your local phone book.

Getting a business license may require that you also get a DBA. General partnerships and sole proprietors operating under business names will need a DBA. Enforcing of any contracts cannot be done unless you officially own your business name and if you do not get a DBA, someone else can take your name that you worked so hard to create. Also, if your business will have employees, you will need an employer identification number (EIN). You can apply for this very easily at the IRS website.

When you go to obtain your license, you will want to have all of your business paperwork ready which includes your EIN, DBA and any fictitious name certificates. You will complete your license application and then file it with a small fee, in person, at the appropriate government office. Keep in mind that getting a business license is not a one time ordeal, you will need to file renewals annually.

 

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!

Are you wondering how to start your own food business? Do you have the ambition to become self-employed? If you can bake a mouthwatering cake or perhaps have a barbeque sauce recipe that the world cannot live without, a food business may be the ideal avenue for you. Alternatively, you do not even have to be able to cook to get into the food business, you can open up a concession stand and sell items such as ice-cream, snow cones or popcorn. If you really want to know how to start your own food business, follow these five easy steps to get you started.

Decide on what product you are going to sell. Ideally, it will be a food that you genuinely like to eat since you will be around it all day and it is hard to endorse something that you do not believe in.

Research your market for your product. For example, if you are bottling barbeque sauce, what kind of packaging should you use? Do you need to list all of your special ingredients? Do you want to just sell the sauce or would you be happier opening a BBQ concession trailer where you can actually cook and serve people? This way you can also sell bottles of your sauce as well.

Figure out where you are gong to sell your product. You should visit local grocery stores with samples or food festivals. If you are opening a food concession trailer, you need to determine what ideal events would sell your product whether that is fairs and festivals or local parks and business districts.

Create your product. If you are cooking or baking, start production. If you need to order supplies for a food concession trailer, find a vendor where you can get the best deal.

If you have packaged up your homemade goods, you need to promote them. You can advertise in your local newspaper for a tasting session somewhere or attend a food show to market your product. If you are opening a concession business, it's a bit easier. All you need to do is open up where there is plenty of foot traffic and consider giving away samples to entice people passing by.