Beware of the Siren’s Song

Are you familiar with the myth of the Greek Sirens? (or Seirenes?)

In Greek Mythology, the Sirens were ‘Sea Nymphs’ (think mermaids) who lived on an island called Sirenum Scopuli…which was surrounded by cliffs and rocks.

Approaching sailors were drawn to them by their enchanting singing (the ‘Siren Songs’), causing them to sail on to the cliffs and drown.

The term ’siren song’ now refers to an appeal that is hard to resist, but that if followed, will lead to a bad result.

Last update, I told you about the two major product types, Demonstration and Static products. If you missed that update, you can read it here:

http://www.kioskexpert.com/product_type_022306.htm

However, there is actually a THIRD ‘TYPE’ of product with such a strong allure, that it can draw you in….

….and potentially dash your hopes on the rocks – like the sailors drawn in by the ‘Siren’s Song’ – if you are not careful!

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What is that third ‘type’ product?

It’s a type I call the ‘Hot, New Product!’

Potentially the next ‘Beanie Baby’ or ‘Metabolife’ or ‘Radio Controlled Mini Car’….

Not a day goes by that I am not asked for that ‘Hot, New Product’ to sell in the mall…the one that EVERYONE is going to want.

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A ‘Hot, New Product’ CAN make you a lot of money! This product ‘type’ can have a HIGH profit potential! But here’s the thing….it can be pretty risky. The potential of the ‘Hot, New Product’ can be a lot like the allure of the ‘Siren’s Song’. It can draw you in, and then dash your hopes on the rocks.

For every ‘Radio Controlled Mini Car’, there are LOTS of products that never GET hot. You have to guess RIGHT with the ‘Hot, New Product’. There is always the RISK that you guess WRONG.

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And there are so many things that can DERAIL even a product that IS Hot from ever succeeding on a cart or kiosk…

…Competitor Knockoffs…
…Supply Problems….
…Competition….

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Listen to what Pat Yates, owner and president of ‘Happy Feet’ points out in the latest issue of the Specialty Retail Report ( http://www.kioskexpert.com/srr.htm ):

‘Sometimes people get CAUGHT UP in something new and unproven. The new and greatest widget CAN BE risky’

He suggests doing research on products that have PROVEN successful, and replicating THAT success!

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A HOT, NEW product CAN make you money!  However, with the stakes high – your profits ARE on the line – are you willing to accept the consequences if it’s NOT the next Beanie Baby?  If so, proceed forward!

If you are first time operator, consider avoiding the ‘allure’ of the ‘Hot, New Product’ and stick with a product that is PROVEN to be successful.

Once you have a season ‘under your belt’ and have a little experience, you will be in a much better position to evaluate the risks associated with ‘following the Siren’s Song’!

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May fortune be with you!

Brady Flower
The Kiosk Expert

P.S. What’s the best source for new AND proven products?  Specialty Retail Report magazine, of course!  Click here to subscribe:

http://www.kioskexpert.com/srr.htm

What TYPE of Product is Right for You?

I get asked all the time ‘What product should I sell in my mall cart or kiosk?’

However, usually that FIRST question to ask is not WHAT product to sell, but, ‘What TYPE of product is right for me?’

I received an email from a mall cart operator last Christmas from an operator who was selling a product that I KNEW was a proven winner. But he wasn’t doing as well as he expected, and wanted some help. 

It turned out that although his product was a GREAT product, it was the wrong TYPE for his personality. He wasn’t willing to do the work required to succeed with that product. And as a result, didn’t do nearly as well as he could have.

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There are really two major TYPES of products you can sell in the mall:

1) DEMONSTRATION Products

2) STATIC Products

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It is just as important to pick the RIGHT product for YOUR personality and YOUR goals as it is to pick a GOOD selling product.

So, let’s take a brief look at the two major product TYPES:

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1) DEMONSTRATION PRODUCTS

Demonstration products are products that are typically sold via a sales PRESENTATION. That presentation might explain the benefits of the product, what it does, and/or how you use it.

‘What is it?; What does it do?; Why do I need it?’

Oftentimes a presentation is NECESSARY to sell the demonstration product – as the casual passer-by in the mall may not be initially familiar with what it is or what it does!

Demonstration products typically offer a HIGH profit potential and LOW risk. That is because YOU and your STAFF control how MANY presentations you give. The more presentations you make, typically the more you sell.

However, demonstration products generally require a higher QUALITY staff – because the sales are dependent on their efforts.

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2) STATIC PRODUCTS

Static products are often ones can sell without much explanation. We might consider to be ’staples’ or products that most EVERYONE is familiar with – jewelry, T-shirts, sunglasses… …and so on….

Your customers already know what these products do, and how they work (YOU know what a T-shirt does, right?) As a result, your customers don’t NEED as much of a presentation to make a decision.

The demands on your staff are not as high, because your customers are already familiar with the product and what it does.

However, you tend to be more a the mercy of mall traffic. Sales are only made when the customers decides to stop by.

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In the case of the man that emailed me….he had picked a demonstration product to sell, but wasn’t willing to demonstrate it or hire a staff to do so. As a result, he had mall full of customers stream by his cart without really knowing what he was selling – and didn’t sell nearly as much as he could have. 

My feeling is that he probably would have been much happier – and done better – if he had elected to sell a STATIC product.

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On the other hand, it would drive ME ’stir crazy’ to sell a STATIC product. I want to be more active, selling my products, and training a staff how to do so. For me, a DEMONSTRATION product is much more in alignment with MY personality, and MY goals.

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What TYPE of product best suits YOU and YOUR personality?

Before you ask, ‘What product should I sell?’, first decide what TYPE of product is right for you! Pick the right TYPE of product! You’ll be happier, and you will do better!

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To find profitable DEMONSTRATION or STATIC products, subscribe to the Specialty Retail Report magazine.

It’s your best source for finding successful mall cart or kiosk products. It’s only $35 per year! Click here to subscribe:

http://www.kioskexpert.com/srr.htm

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May fortune be with you!

Brady Flower 
The Kiosk Expert

P.S. Each issue of the Specialty Retail Report magazine profiles successful cart and kiosk
entrepreneurs. Learn their secrets! Subscribe today at:

http://www.kioskexpert.com/srr.htm