Chapter #2 - Kiosk Budget Basics

Back in the Featured Blogger spot, kiosk ace Marie VanDrisse continues her dialogue from last month to tackle one of the hardest -but more important- parts of kiosk planning: setting a budget.

Perhaps the most frequently-asked and important questions in kiosk planning revolve around budget. Knowing the budget helps answer many of the other questions regarding your kiosk deployment. We'd all love an unlimited budget, but the reality is that most of us have limited budgets to work with. This means we need to squeeze maximum results from minimum dollars.

The budget of any project directly affects the quality and time involved in the process. In fact, time, quality and resources are the three primary variables of any project. The more limited your resources, the more difficult it will be to hit the desired deadlines with high-quality products.

On the other hand, money can speed things up by allowing you to work on different parts of the project simultaneously; and if you can afford better manufacturers and equipment, the quality level on the product goes up too. That's not to say that effective results can't be achieved at lower price points. It just means you may have to be a little more creative to get where you want to be with what you have.

Some of the most important questions that need to be asked that will affect the budget are:

• What equipment will be required?
• How will the customer interact with the kiosk?
• What brand elements must be incorporated into the look of the kiosk?
• How much storage is needed for your product?
• What is the annual volume of kiosks that will be installed over the next year?
• What are the price point expectations for the project?
• What mall properties are you looking to get into?

All kiosks are designed to generate revenue and you must determine what will deem the kiosk a success and what the return on your investment will be. Keep in mind when doing your budgeting analysis that an innovative kiosk design will attract a higher-level of consumer. Better merchandising not only leads to better sales, but will also enhance the credibility of your product.

I will tell you too many kiosk projects don't get financed beyond a pilot stage because the project was assigned unrealistic expectations from the onset. Thinking inside, outside and all around the box is the best way a kiosk project manager can bring ideas from concept to completion within a given budget.

-- Marie VanDrisse (Check out my LinkedIn page for more about me.)