05 Nov How to Start a Micro Market Business
Hello and welcome to the Parlevel guide on How to Start a Micro Market Business! Join Jayce Kalmbach, the the Director of Sales at Parlevel Systems, and learn why you should be interested in micro markets! Over the years, we have consulted hundreds of companies on how to find success with micro markets, and we want to give you the same valuable insights. In this series of videos we will answer common questions, provide proper guidance, and showcase examples that will help you start your very own micro market business.
So what are micro markets, and why should you be interested? Micro markets are an unattended retail service that offer diverse products right where customers need them. A mixture of displays, coolers, and kiosks combine to offer a convenient, self-checkout solution. Through micro markets, you can sell high-margin items like fresh food, snacks, drinks, and even everyday necessities like milk or paper towels.
Lay a Strong Foundation
To start a micro market business, you have to start with a solid foundation. In this video, we will help you lay the proper groundwork by writing a business plan, finding suppliers, accounting for labor, and planning logistics.
Prospect, Pitch, and Close
Now that your foundation is in place, you can work on securing your first micro market location! You must find a good location before you buy equipment. That way, you can fit your equipment to a location and you won’t have to find a place to store your equipment while you work on closing a location. In this video, we will cover how to identify optimal accounts, pitch locations, and close accounts.
Choose the Right Equipment
The right equipment is essential to how you start a micro market business. Your on-site equipment is what your customers will interact with every day, so you must take care in making sure it is as good as it can possibly be. No matter how solid your business plan or infrastructure, a micro market with a poor kiosk, faulty fridges, or shoddy shelving will lead to an unsuccessful business. Here, we’ll cover how to choose the right equipment for your micro market.
Provide Excellent Service
Your equipment is installed, and you’re ready to open your market and get your business rolling. Here’s how effective openings, efficient service, and constant improvement will help you maximize profits at your location.
Grow, Scale, Succeed.
You’ve done it! You were able to start a micro market business! You created your business plan, found suppliers, secured a location, selected the right equipment, and are running a successful, profitable market. But your work isn’t done! To run a truly successful business, you must continue to grow your operation, find new locations, and place new markets.
As your business takes off, there will be some growing pains. You’ll have to hire employees, invest in a warehouse, and work hard to keep all your customers happy. But using the same principles we discussed in this series on future markets, you’ll be able to run a series of profitable micro markets.
Start a micro market business today! Request information below, and we’ll help you move forward with your business!