Benefits of Running a Concession Stand
One of the questions most often asked of concession stand owners is what makes this business so appealing. If you have an interest in starting your own concession stand, knowing what the actual benefits are can be essential before making the investment. Owning a concession stand has quite a few benefits as this article will discuss.
Be Your Own Boss
Many people have dreams of becoming their own boss. For many though, it is just that – a dream. Starting a concession stand can turn that dream into a reality. In fact, it is much easier than you might imagine thanks to the low barriers to entry.
The Startup Costs are Low
Depending on the type of concession stand you start, and the size of the booth needed, the costs can be very low. It may be possible to get into the business with an initial investment of between $6,000 and $20,000, depending on the type of stand. Getting a business loan for this smaller amount is also easier to do than getting a larger loan to start a brick-and-mortar restaurant.
Begin in Your Spare Time
How much time do you have to put into the business? Many people who want to become their own boss still need to work at a full time job. They may only have time on the weekends to devote to another business pursuit. Fortunately, that’s perfect for concession stands, as most of the events occur on the weekends and in the evenings. Therefore it is possible to work part time and then to expand the business as your success and knowledge of the business starts to grow.
Make a Good Living
While you might not strike it rich with a concession stand, you can make a nice living if you secure a good location and have a good concept. If you are doing it in your spare time, it can help you pay off other debts and bills each month. If you are able to commit to running the stand full time, then you can make an even better living. Best of all, you will have the freedom you desire, of being your own boss.
Have Fun in a Job You Love
If you always wanted to get into the food business, but felt that you did not have the money or the time, investing in a concession stand might be the best way to enter the field. It can be an enjoyable job where you get to meet new people all day long and where you don't need to get dressed up just to go to work. You can utilize your creativity to develop new menu items that your customers will love and rave about. It’s like having your own miniature restaurant without needing to worry about all of the risk associated with an actual brick-and-mortar establishment.
The Hands Off Approach
Some owners want to own a stand and do the behind the scenes work while others run the daily operations. This is entirely possible with a concession stand, and another benefit that this opportunity offers.
Hard Work Required
Working in the field has the above benefits and many more. However, it is not all fun and games. Owners of concession stands need to put in a substantial amount of work. Whether they work physically at the stand or have other employees doing the work, it can be tiring. Owners need to develop a business plan, do the inventory, keep the books, make sure everything get done, and burden the responsibility of owning a business. However, concession stand owners who have been in the field a while and who are successful, report that they are very happy with their chosen line of work.