Sunday, December 13, 2009

How To Make Money on Black Friday

Business Idea: Set up a snack stand outside of a popular store on Black Friday.

Business Description: People voluntarily choose to wake up ridiculously early in the morning to stand in line in the cold to possibly buy things they probably don't need.  You can help\take advantage of them.

Business Resources: Snack food, hot drinks, hot packs, ponchos (optional), and card table.

Step-by-Step Business Plan:
1. Wake up early in the morning on Black Friday
2. Gather up whatever snack food you have lying around.  Or plan ahead and buy\make donuts, muffins, bagels, etc.
3. Make a pot of coffee or hot water for tea and hot chocolate and pour into a thermos.  Don't forget cream, sugar, tea bags, and hot chocolate packs.
4. (optional) Take ponchos to sell if raining, hot packs (pre-heated) if really cold, and a card table to display your wares.
5. Dress warmly.
6. Drive to a popular store hours before its advertised opening time.  Best Buy, Wal-Mart and Target are viable options.
7. Set up the table and arrange the food and drink on it for display.  If you are an over-achiever, place the sign that you made ahead of time on the table as well.
8. Sell food and drink to the hungry horde.  Try not to ridicule them too much since they represent your customer base.
9. Continue to operate your snack stand throughout the morning.  Some people may not be hungry right away, but after spending hours standing in line to get into the store, and then standing in line to get out of the store, many of them will be famished.  Set your prices accordingly.  The more famished your customers are, the more money you can charge.  You can try to lure people in by offering free hot drinks, since heating up a bunch of hot water and providing tea bags or hot chocolate packs will not cost you too much, strategically place a tip jar on your table, and sell the baked goods for profit.

Feasibility Quotient: 85

Business Risks: You may need a permit to operate a snack stand on store property.  If someone asks to see your permit, offer them a scone.

Business Competitors: Stores with snack stands\restaurants inside.  Avoid these stores.

Business Growth Opportunities:  This is a scalable business model.  The more time and money you put into your stand (such as offering gourmet drinks or hot breakfast sandwiches, etc), the more you can potentially make out of it. 

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