When many people begin having the thoughts about becoming a successful business owner, they typically think of the all the money, accolades and freedom associated with financial prosperity. Most people don’t dream about the perseverance, failures and humble beginnings. However, if you’d like to be an amazing entrepreneur, you’ll have to take the good experiences with the bad ones. It’s also important to remember that the bad experiences can be excellent teachers. One of the great lessons to learn is that there’s nothing wrong with starting small. Instead of opening up a large brick-and-mortar shop, consider starting with a cart in the mall. Consider the reasons why this is a great idea.
1. Low Cost
It’s important to remember that it costs money to make money. You have to invest and reinvest in your own business before you expect others to follow your lead. However, if you can keep certain costs low, this move is going to be incredibly helpful because you’re going into business and the business needs to turn a profit.
2. Low Commitment
With a brick-and-mortar store, there are so many moving parts to be responsible for. Insurance, security and other overhead costs are important to consider. A promotional cart requires a certain amount of upkeep, but it’s not as involved. You can decide to get a cart and use it as a low-commitment lesson in business. Learn more about how the process works and use it as an educational experience. You’ll be able to connect with people and learn more about how to engage in cold sales. If the endeavor doesn’t work out, you won’t have to deal with a major loss of money due to the overhead costs.
3. High Visibility
Promotional carts are highly visible in the marketplace. Most carts are directly centered in the walkways of most malls. This is an excellent real estate opportunity. Some entrepreneurs might make the mistake of snubbing the idea of a promotional cart, but it’s actually a great advertising resource. You can advertise with the use of social media and direct people to your cart as a physical space. As your business grows, you can take the next steps to expand. However, you’ll be able to do it in a sustainable and strategic way.