hi I’m Evan Carmichael welcome to the
edition of ask Evan today i’m answering
a question from one of my readers rakesh
who wrote a really long email very
detailed which is awesome basically
wants to know he’s great in a new
business it has a new type of hamburger
and wanted my advice and how to test it
because creating the stores are
expensive and one to see if people would
pay for this special hamburger or not so
great way of thinking you don’t want to
just go up and open up a store
especially in the fast-food business
very expensive very time-consuming and
high failure rates if you’re not part of
a franchise system the best way to test
it is partner up with somebody who’s
already either selling some kind of food
product or sell into your target market
so I try to scout an ideal location find
somebody who is already in that space
who’s targeting your same customers the
ideal market so I don’t know who your
ideal market is for these burgers if
it’s young professionals men women
wherever the mix is find a location
where all these people are hanging out
and then go to someone who’s already
selling something to them in that
location I try to approach an
entrepreneur who you can talk to one on
one instead of a franchise type of
company or bigger corporation because
they probably won’t give you the time of
day and try to figure out a way to
partner up with them and I would either
look at doing a one day kind of
promotion to say hey for one day we have
these special hamburgers coming in
here’s all the benefits of them come
check it out or some kind of small-scale
operation where you have a booth or
table within their within their store
and you’re selling it and the pitch is
you’re going to help promote them you’re
going to bring people into their store
as well you want to do some kind of
partnership on this it can either be
they take some kind of cut of the
revenue that comes in or they may just
let you have the space for a little bit
of time because you’re going to help
bring people into the store or you pay
some kind of rent for having a booth set
up as an example and it’s on the smaller
scale at the salsa studio that I’m a
part of is Toronto dance salsa they’ll
have events every remote
all times a week or three times a week
is an event and sometimes I will have up
to 300 people coming out to the events
will make partnerships with few
companies so these people have shoes
they want to sell the salsa dancers we
have the salsa dancers and the shoe
company will come in and set up a booth
outside and they’ll sell their shoes and
sometimes it’s a fee to do that and
sometimes it’s just for the promotion so
kinda how big the event is if it’s a
smaller event they could just be for the
promotion so the shoe company promises
to send out some emails and Facebook
notices to their audit to say hey I’m
going to be at charlotte dance salsa
come check us out and they get a spot
outside the booth and it doesn’t bring
revenue to the business but it brings
students and brings people out to the
school so that could be you right so
this this company doesn’t have enough
funds or stew small to set up their own
shoe store and they’re testing out the
market and it’s an easy cost-effective
way to promote the business and see if
it’s going to work or not so I’d go and
approach these locations again try to
talk to the entrepreneur themselves it’s
easier to deal with and try to find a
structure where to throw one day or
special event type of thing or you have
a little booth or table within their
store and it’s a great way to test out
that location test out your hamburger
see people like it or not see if you
need to change the recipe or not and
you’re doing all of that on a really low
budget and send go and open up your own
store with all the costs expenses and
risks that are associated with it so
hopefully I helped great question i love
the finding the way to bootstrap angle
to it it’s awesome and should be more
widely adopted I think we’re
entrepreneurs for those of you watching
if you liked the video please give it a
thumbs up below always we’re going to do
more for you and if you have a question
about this video or comment or question
about your own business or challenge
you’re facing feel free to leave in the
comments section below I always read
those I love seem to come in so thank
you and I’ll see you on the next episode
you
edition of ask Evan today i’m answering
a question from one of my readers rakesh
who wrote a really long email very
detailed which is awesome basically
wants to know he’s great in a new
business it has a new type of hamburger
and wanted my advice and how to test it
because creating the stores are
expensive and one to see if people would
pay for this special hamburger or not so
great way of thinking you don’t want to
just go up and open up a store
especially in the fast-food business
very expensive very time-consuming and
high failure rates if you’re not part of
a franchise system the best way to test
it is partner up with somebody who’s
already either selling some kind of food
product or sell into your target market
so I try to scout an ideal location find
somebody who is already in that space
who’s targeting your same customers the
ideal market so I don’t know who your
ideal market is for these burgers if
it’s young professionals men women
wherever the mix is find a location
where all these people are hanging out
and then go to someone who’s already
selling something to them in that
location I try to approach an
entrepreneur who you can talk to one on
one instead of a franchise type of
company or bigger corporation because
they probably won’t give you the time of
day and try to figure out a way to
partner up with them and I would either
look at doing a one day kind of
promotion to say hey for one day we have
these special hamburgers coming in
here’s all the benefits of them come
check it out or some kind of small-scale
operation where you have a booth or
table within their within their store
and you’re selling it and the pitch is
you’re going to help promote them you’re
going to bring people into their store
as well you want to do some kind of
partnership on this it can either be
they take some kind of cut of the
revenue that comes in or they may just
let you have the space for a little bit
of time because you’re going to help
bring people into the store or you pay
some kind of rent for having a booth set
up as an example and it’s on the smaller
scale at the salsa studio that I’m a
part of is Toronto dance salsa they’ll
have events every remote
all times a week or three times a week
is an event and sometimes I will have up
to 300 people coming out to the events
will make partnerships with few
companies so these people have shoes
they want to sell the salsa dancers we
have the salsa dancers and the shoe
company will come in and set up a booth
outside and they’ll sell their shoes and
sometimes it’s a fee to do that and
sometimes it’s just for the promotion so
kinda how big the event is if it’s a
smaller event they could just be for the
promotion so the shoe company promises
to send out some emails and Facebook
notices to their audit to say hey I’m
going to be at charlotte dance salsa
come check us out and they get a spot
outside the booth and it doesn’t bring
revenue to the business but it brings
students and brings people out to the
school so that could be you right so
this this company doesn’t have enough
funds or stew small to set up their own
shoe store and they’re testing out the
market and it’s an easy cost-effective
way to promote the business and see if
it’s going to work or not so I’d go and
approach these locations again try to
talk to the entrepreneur themselves it’s
easier to deal with and try to find a
structure where to throw one day or
special event type of thing or you have
a little booth or table within their
store and it’s a great way to test out
that location test out your hamburger
see people like it or not see if you
need to change the recipe or not and
you’re doing all of that on a really low
budget and send go and open up your own
store with all the costs expenses and
risks that are associated with it so
hopefully I helped great question i love
the finding the way to bootstrap angle
to it it’s awesome and should be more
widely adopted I think we’re
entrepreneurs for those of you watching
if you liked the video please give it a
thumbs up below always we’re going to do
more for you and if you have a question
about this video or comment or question
about your own business or challenge
you’re facing feel free to leave in the
comments section below I always read
those I love seem to come in so thank
you and I’ll see you on the next episode
you
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