I have a friend who started a hot dog stand in his college town right next to campus with high quality ingredients and few menu items (dogs & brats w/chips and a soda). He's made a killing with super high margins (~50%) and grown into 3 storefronts.
I want to do something very similar with the idea of naming my stand based on the college town I live in and with a global domination idea of having other hot dog stands in other college towns named after that college (franchises potentially?).
#1. "RE: Hot dog stand in college area. Good idea?" In response to Reply # 0
Hi, It might help to sit down and write a business plan. A great location will often cost money, not to mention licensing fees / profit sharing depending on the college. Initial outlay for a decent cart is $3-6K. Owner operator model is good as it is difficult to keep track of reliable sales numbers. I would run one for a year. In that time, I would probably contact a cart manufacturer about some kind of discount deal. The variety of local health regs are a headache. California's requirements are different than Alabama, etc. Good Luck
#4. "RE: Hot dog stand in college area. Good idea?" In response to Reply # 0
I think that is a great idea. My friend and I would cook hotdogs at night and pack them in a cooler and go from door to door in the dorm and we would sell out every night. Go for it, I love the idea, you will make a killing during football season. Good Luck!
#5. "RE: Hot dog stand in college area. Good idea?" In response to Reply # 0
You just have to test your market. As the other poster suggests, pre-cook some and get out on the street and try to sell them. Talk to the people you are selling to or not selling to and see if they would be open to a full-time stand - also ask them what they would pay for - then judge your demand - called doing a feasibility study.
#6. "RE: Hot dog stand in college area. Good idea?" In response to Reply # 5
Yes you are right.
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#7. "If you build it, they will come" In response to Reply # 0
Great idea.
I would start by either buying a used cart, or if you are creative and have a Northern tool or something like that around you, build the cart yourself. A little creativity and you can create a cart for under $1000.
If you live close to the school and like riding your bike, hook it to the bike and you have no added gas cost.
There is a guy in town near us that sells coffee by the park downtown. I sat there one day and watched him pull in about $120 in an hour.
One thing you could do for customer retention is build in some sort of frequent flyer card. Anything you can do to get people back in front of you is key.
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