How Much Does a Mall Kiosk Cost?
If you want to start up your own business in the mall, a kiosk may be ideal because of its size and the cost of starting one. A mall kiosk will generally sit in the middle of the pathways that many customers walk while going from store to store. To rent a kiosk from a mall, the cost is going vary depending on a few factors such as the location of the mall, the location of the kiosk within the mall, the product you are selling, and more.
How much is it?
- On average, rental of a mall kiosk is going to vary anywhere from $500 to $8,000 a month. A mall that generates a lot of foot traffic can demand a lot more money, while a mall in the middle of Iowa may demand a little less.
- Months such as November and December are going to demand a greater premium due to the heavy increase in volume.
- Some malls may ask for a certain percentage of the sales rather than a fixed monthly rate. For example, a mall may say that it either wants $3,000 a month or 15% of your monthly sales. Whatever the greater amount is, this will be the amount that you’ll have to pay.
- According to Entrepreneur.com, the Mall of America will allow you to rent a cart for $2,300 or 15% of your monthly sales. They also have a $1,500 “key money” fee.
What are the extra costs?
- An initial fee will have to be placed in order to reserve a kiosk. This is to reserve your kiosk, as well as for the necessary paperwork, etc. The initial fees can vary from $800 to $2,500.
- Most malls are going to provide the kiosk set up equipped with the locks, shelving, etc. As an owner, additional items may include graphical signs, price tags, etc.
- A cash register/computer to store inventory as well as ring up customers is a necessity. A cash register can cost anywhere from $100 to $500 or more depending on how complex you want it to be.
- Some malls may ask for a full month’s rent payment up front.
What is going to be included?
- Most malls will include the mall kiosk in the proper location. This will include the security cover as well as a lock to ensure that your inventory is protected when you are not around.
- Before a kiosk is secured, a potential kiosk owner will have to meet with the leasing office. This is where they can help draw up plans, set up a kiosk as well as draw up a contract. Keep in mind that some malls can deny a business plan if they deem it doesn’t fit with their mall guidelines.
How can I save money?
- Compare local malls within your area. Make sure to compare the prices as well as the foot traffic. If you’re going to go the cheaper route, you may get what you pay for. This is why it’s essential to look at your location, the average number of people walking by, etc.
- Haggle the rent price with the mall. Most rental prices aren’t set in stone. It never hurts to ask for a lower rental price.