My First Cart

A few years ago, I was fresh out of college and accepted a job that I thought was cool and paid good (I'm not telling you what it was, so don't ask). It wasn't related to my field of study (Economics & Psychology), they just wanted anyone with a college degree. A few months into it and I started hating it, it just wasn't me. So I left that job and moved to a new town, closer to my sister, for a new beginning.

I started looking for jobs more closely related to my degree, but couldn't find any. A few months later, my pockets were getting empty and so was my patience, so I started looking for ANY job, but I couldn't find any. I had moved from a city where most of the Malls had Convenience Stores. So when I had visited the Shopping Mall in my new town, I noticed they didn't have one. I thought it would be a good opportunity. I ran the idea by some family and friends and was promised funding if I wanted to pursue it. My next step was to run the idea by the Mall, hoping they would approve it. I spoke with the leasing agent and as soon as I said the magic words "Convenience Store," the deal was approved.

The leasing agent had given me an option to open it in a regular in-line store front or open it on a Cart. I thought, "how is it possible to open a Convenience store on a Cart?" There are so many types of snacks, candy, drinks, etc... It just didn't register in my head. But, if I were to start it up on a Cart, I would be saving over $10,000 a year just on rent, not to mention utilities and garbage fees (you don't pay for utilities or garbage when you have a Cart). And the Mall gives you a Cart for FREE for the length of the lease term, unlike a Kiosk which you have to purchase on your own (Average pricing on these is about $6,000+ for a new one). Not to mention, Carts and Kiosk do not need to be marketed as much as in-line stores. That's because they're right in the middle of Mall pathways and right in the middle of all that foot traffic. Carts especially promote a lot of impulse buying because products are more openly displayed. So I thought, if there was a way I can open this on a cart, I would save a ton of money, and I would certainly start making money from day one with all that impulse buying (Mmmm, look at all that Candy! I'm so thirsty, oh look, they have soda!).

So I started some serious research on making it possible to open up my Convenience Store on a Cart. The main thing I was working off of was the Cart's measurements (about 9' x 5'). So I shopped around for coolers, trying to get the right sizes for the right prices, so I could fit as many as counter-top coolers as possible. There were 2 shelves going all the way around the cart, so that would be enough room for all the candy, bakery items, granola bars, cookies, etc.. But what about chips and other snacks in bags? So I bought clip rods (with 12 clips on each rod) to hang around the cart (wherever there wasn't a cooler, there would be hanging clip rods). Anyways, the point is that I figured out how to open up my new Convenience Store on a Cart. And what better name to give it than the store I grew up eating candy at during childhood... Mini Mart!

Here's a pic of just one side of Mini Mart

Backtracking to the contract:  I had given them a list of everything I wanted to sell, so they had that on the contract (When making this list you want to be as general as possible. e.g. Instead of saying you will be selling Soda, say you will be selling Drinks, that could mean Soda, Coffee, Water, etc.. Get the point?). Always try to get a clause on your contract that prohibits any one from selling the same items you're selling or from opening up a business like yours. I had signed a 1 year lease (they were pretty happy with the business idea, so they never even ran a credit check!). I wish they were even happier, so I could have gotten a better rent quote, but that's my fault. They quoted me a 1st year rent of $18,000 ($800 per regular month and $10,000 for November and December). I was so eager to start, I didn't even negotiate, but I'm not complaining.

My sister, my wife, and me came in to the Mall at 9pm, the night before the first day of the Cart, and we setup the whole night till the next morning and worked our first day without any sleep till 11pm that night. It was a great first day and everything I expected. This is my 2nd year in business and I did negotiate this time. I brought them down to $11,000 for this year ($600 per regular month and $5600 split between November, December, and January). I'll get to take home $7,000 more this year plus increased sales (Everyone knows about the Mini Mart now), but I'm not complaining...

Th purpose of this blog is to share ideas of low cost businesses that I come across and doing business in the mall to benefit everyone, not only myself. I love business and I'm always looking to open up something new, so maybe we can do it together, what you say? Oh and if the Mall rents have scared you off then don't worry, I will share techniques in later posts about doing business in the Mall for just a couple hundred bucks of rent. So stay tuned my friends!