Helpful article from Business Daily News with some insight on non-traditional retailing which
has been gaining popularity over the years.
By Nicole Fallon, Business News Daily Assistant Editor at Business Daily News
When you want to start a retail business, coming up with a great product that customers will
want to buy is only half the battle. The other part of the equation is finding a way to get
your products in front of customers – and unless you’ve got a few hundred thousand dollars
lying around, a traditional commercial storefront may be out of the question.
The good news is, brick-and-mortar stores aren’t the only option for people with a product to
sell. Whether you want a scaled-down retail space or choose to sell online only, there are
plenty of affordable alternatives for small business owners. Here are seven budget-friendly
ways to run your retail business.
Don’t want a full retail store but still want your own space in a high-traffic area? A kiosk is
the perfect opportunity for retailers with a small amount of inventory. These small retail stands
got their start several decades ago as a short-term option for seasonal retailers. Today, there
are thousands of kiosks in malls, transportation hubs and event venues nationwide, selling every-
thing from jewelry to skin care products.
Deborah Georgetti-Piro, president of specialty leasing company Georgetti-Piro & Associates, said
that there are many advantages to opening a kiosk, especially for new business owners. Leases on
kiosks are typically “all-in,” meaning any extra charges associated with the location are included
in the minimum rent number. The smaller footprint and square footage also means a lower overall rent
with less overhead and fewer operational expenses for the kiosk operator.
“[Another] key advantage … is that kiosks are typically located in areas of a shopping center that
have high foot traffic and visibility,” Georgetti-Piro said. “This is a terrific way to make high sales
and to get name brand exposure without spending additional marketing dollars.”
Read the full article discussing the other concepts here