A concession business should be run like any other business. Your primary goals are to be profitable and sustainable. The only difference is that, as a concessionaire, you will have exclusive or semi-exclusive rights to operate within a given area (such as a park or building), and you will have to maintain your relationship with the entity who has assigned your business these rights.
Keep good records. Your transaction records, inventory, vendor contracts, employee contracts, insurance papers, tax forms, and any other records specific to your business should be secure but easily accessible, well-organized, and backed up in a safe location.
Identify and nurture unsatisfied market demand. Sell the goods and services that people want to buy. Once you've got customers in your shop, sell them not only what they want to buy, but whatever else they're willing to buy and didn't know about. Make sure you negotiate a contract that gives you some discretion in what you can sell.
Sell your products, your business, and yourself. Customers like a friendly face, a fair price, an appealing product, and a responsible business. You can boost your profits in the short term by hiring the cheapest staff, charging ripoff prices, and selling inferior merchandise, but you'll kill your sustainability that way. Don't fool yourself into thinking that you have a captive audience simply because you have a concession. Your customers always have an alternative: They can choose to buy nothing.
Negotiate a good contract. That's the key to running a concession. The leasing entity will typically want a share of your revenues, a flat fee, or both. These are reasonable demands, but only as far as your business model can succeed after you pay the leasing entity its cut.
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