One of the most important questions to be answered is associated with the organizational structure of your business. Specifically you need to determine whether you will personally manage or bring in a manager for your dollar store business.
Archive for May, 2010
One of the biggest challenges faced by those opening a dollar store is to somehow create a store that stands apart from the crowd. Achieving this result takes a lot more than just having a good selection of dollar store merchandise on hand. It requires creating a store that will be remembered by shoppers.
The instant shoppers enter is the moment that must WOW them. Not only will you see dollar store sale levels increase, but your customer retention rate will grow as well. Fortunately there are some easy yet powerful tactics to set your store apart. In this article I present 7 of those tactics to wow your shoppers.
Good visibility is one of the many things those opening a dollar store demand as a part of making their final location decision. Yet in some cases visibility issues may take a backseat to rock bottom lease pricing, landlord concessions, or other features. In other cases visibility is great, but there is the desire to attract attention to build dollar store sales and profits more quickly. When you get to the final analysis, no matter what the situation it is extremely important to do everything possible to attract the attention of passersby and others who are potential shoppers in your store.
Those who build sales and profits know there are many components to properly manage in order to maximize the results of their labor. In this article I present actions to quickly grow sales and profits for your dollar store business.
One of the biggest challenges associated with starting a dollar store is maintaining the correct inventory level. Even more important is maintaining the correct inventory level of the right dollar store merchandise. It is easy to end up with thousands of dollars tied up in inventory that is comprised of everything your shoppers are not buying.
In the past a store could succeed by having only a fairly good feel for the needs of shoppers. Mistakes and oversights associated with the merchandise carried were often covered by extra purchases made by shoppers. In today’s economy however, you must accurately align the dollar store merchandise you carry to the customers you serve.
There are many quality suppliers available. It is just a matter of knowing where to start the hunt. In this article I present 4 key sources for your merchandise. These categories will each open the door to hundreds of potential suppliers for your business.
While you have little direct control over the time it takes from payment to the merchandise actually arriving at your store, it is important to stay in touch with your suppliers and tactfully set dates for shipment and arrival at your store. Where you do have great control is from the moment a delivery truck arrives at your door with new merchandise. In this article I present how to reduce product receiving time. I include 6 powerful tips to use in your business.
For those who do decide to move forward without help, one of the main supplier resources you should consider is general merchandise suppliers. In this article I present 4 reasons they are so critical to your success.