Earn Extra Income In The Concession Business
Starting a new business is tough, especially in this economy.But if the urge to start
your own enterprise is too strong to go away anytime soon,it's important to do your research before deciding what type of business to pursue.Key factors to ponder include product demand,revenue potential,overhead costs and personal enjoyment.One industry to consider is the food concession business.Because people need to eat to survive,businesses in the food industry are more protected than most sectors during tough economic times.People still need to have fun and instead of going on expensive vacations many are opting for less expensive stay-cations during which they will go to fairs,festivals,concerts and other local events to put some time aside for family and "get away". Having your own food cart opens up the opportunity to earn extra income at these kinds of events which tend to generate higher traffic during financial recessions.What to sell If the food concession business looks like a good fit for you,the first thing to decide is what to sell.Classic concession snacks such as hot dogs, popcorn, funnel cakes and pretzels are dependable sale generators.Carmel corn,candy apples and caramel apples are also popular items with a proven track record of attracting customers,especially during the fall months.Pizza,sandwiches and smoothies are relatively newer items gaining ground in the industry that could set your food cart apart from competing concessionaires.Offering a wide range of food choices opens up your customer base and profit margin potentials.However, it is important to consider the space limitations of your trailer and what kind of manpower will be needed to operate your business, especially during peak times.Concession Supplies Once you've purchased a concession trailer and know what type of space you have available,the next step is to purchase the equipment.Popcorn machines are available in a wide range of sizes,making it easier to find something that works with your space limitations.Depending on your main sales items soft pretzel display cases,funnel cake fryers and pizza warmers might be other supplies you will want to stock in your trailer or booth.Licensing The concession stand business is less regulated than other sectors.But there are still some licenses you will need before opening for business.Contact your local health department office for more information on licensing requirements.
Events Fairgrounds and festivals are far from your only venue options,especially for smaller food carts. Larger trailers with more overhead costs need to focus on bigger venues for revenue such as sporting and business conventions.Smaller and more mobile carts,especially those that don't require electric or water hook-ups,have a plethora of prospective events and locales to choose from.Haunted Houses,Corn Mazes,Pumpkin Patches and Hay Rides as well as high school sporting events and professional football tailgates are just some of your options.The Bottom Line While there are no guarantees on how much money you will make,the potential to earn extra income from your concession business is immense.Like everything in life, the key to becoming a successful concessionaire is through experience.The more time you spend in the field, the more you will understand the business and how to maximize your revenue earnings.
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