Add markets by changing your outlook!

You’ve seen the post that projects significant growth in micro markets year after year! But as the competition increases finding just the right location can become difficult! Revamp your market thinking and find ways to locations that aren’t just the norm.

Smaller locations can be successful too! Three Square Market has had successful markets of 35 employees or less since 2013. And here is how we do it and why …

Why? Because there is limitless potential in businesses of 15 – 75 employees!

How? Small office, think small market! At 32M, we added the Tablet kiosk in 2014 and subsequent small kiosk models to improve on the small market opportunity. Most other kiosk providers have over the years adjusted to the small kiosk movement as well.  Essentially, the smaller kiosk incurs a smaller start-up cost and has a smaller footprint.

Taking it to the next step … mobile apps! That’s right, you’ve heard us say it before but as the originator of the mobile app for micro markets, we think this is a BIG deal! A kiosk in every hand can only increase the number of transactions your market can handle at any point in time! 

Making it work for you? 

Find an appropriate location for your smaller markets, because these markets require your attention just like your larger markets.  To be successful you need to be active in regularly servicing your small markets. We suggest that you look for small locations that surround your larger or existing markets.

As always, cleanliness and filled, faced products in your market is imperative in keeping your market desirable. Micro markets with low product selections or look messy tend to have a difficult time retaining and drawing in purchases. It is worth the investment in your product stock to keep your markets looking fully stocked and orderly.

Your product selection? As we know fresh food items are a key to success in micro markets and we aren’t saying you should immediately count these products out, but here are a few things you can consider if you feel like fresh items are not working at these locations.

  1. Trendy products like protein bars and drinks, kefir, kombucha, high-end frozen products. Remember you want to make your market significantly different from what they would have had with vending machines.
  2. Location subsidizing costs – although this option might not work for all locations it never hurts to see what locations are willing to do for their employees. Remember that employers are looking for low-cost ways to add high-value employee benefits.
  3. Route management and pre-kitting, the more you are on top of your markets and very involved with products, product rotation, and expiration management with promotions to move products when necessary.

Be creative!

Small location means your probably putting in a small sized market! Check out this new cooler/freezer combo options from Minus Forty! We think it’s really cool and the perfect addition to our mini market solution! Don’t shy away from the challenge! Remember … hard work pays off!

 

Advertisements

Published by

32market

Three Square Market is the leader in break room technology. Follow 32M to learn about tactics that successful vending/market operator use to grow their business and revenue!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s