Thank you to everyone who attended yesterday’s tele-seminar.

To listen, please click here.

November 16, 2010 Tele-Seminar is a post from: Opening a Dollar Store

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Click on the link below to listen to the audio from our teleseminar from earlier today.

Dollar Store TeleSeminar

Dollar Store Webinar October 22, 2010 is a post from: Opening a Dollar Store

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Those running a dollar store appreciate the ease of managing when the proper pre-planning and decision making was completed prior to the actual dollar store grand opening of their business. Some of the decisions and actions that seemed almost insignificant prior to opening the doors turn out to be immensely important. One example is all of the decisions that go into the checkout area of the store. If the right layout, traffic flow, equipment and supplies are added, the efficiency of the entire checkout process is positively impacted. If not, checkout becomes a hassle for shoppers and a major workload for cashiers.

But there is more. Poor design may increase the investment requirement in this all important area of your store. Ask anyone who’s running a dollar store and they will share all of the costs associated with equipment and supplies for each and every checkout station. The list is long. Among the equipment and supplies to have in-place before your dollar store grand opening are:

* Checkout stands

* Cash register(s)

* Credit card machine (if not part of your cash register system)

* Telephones

* Plastic T-Shirt Bags

* T-Shirt bag stand (1 per cash register)

* Shopping bags (Gift card size, and larger purchase size)

* Tissue paper (To wrap breakable merchandise when sold)

* Pens, paper, tape, paper clips and other basic office supplies

The checkout area is mission critical for your business. Do a poor job in design and setup and you risk having the last thing every buyer remembering is a terrible experience, employees having to deal with upset customers while trying to work in a confusing location, and of course more money spent on equipment and supplies before after opening, and higher payroll after the store opens.

Don’t risk problems. Carefully preplan the layout for this area. Make sure you have the right equipment and supplies. Set yourself up for success when running a dollar store!

Preparing the Checkout Area For Your Dollar Store Grand Opening is a post from: Opening a Dollar Store

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Many who are about to start a dollar store begin to wonder about how to succeed in the dollar store business. They see much work, their own lack of training or experience, and wonder whether success with dollar stores is even in the cards for them and their soon to open business. Fortunately there are many great resources for learning what to do, and how to handle the challenges ahead. And then there are all of the easy steps that just seem to turn into gold when they are properly implemented. In this article I examine one of those little gems as I present success with dollar stores starts with a strong party and greeting cards area.

While there are exceptions, especially when a well-established party or greeting card store is sitting right next to your new business, generally party is big business. In fact those who want to know how to succeed in the dollar store business should never overlook the importance of the quick start provided by a well-stocked and merchandised party and greeting card department. These in-demand items will start selling from the very first day of operation. They will bring shoppers back to your new store time and again. And every time they enter you are one step closer to success with dollar stores.

There is a core set of party products to carry in this important department. These items include:

* Party Goods

What is a party without festive party goods? Those who really want to know how to succeed in this type of business should carefully shop for wholesale suppliers offering matching cups, plates, napkins and plastic utensils. Bring in a good assortment of solid colors and patterns for major holidays and events. Don’t forget to include table covers, party games and novelties as well. And everyone needs candles for the birthday cake!

* Greeting Cards

Those who want to know how to succeed in the dollar store business should provide a full assortment of greeting cards. Make sure every major holiday and event is covered. Then assign employees to maintain the pristine appearance of the department at all times. Every card must be in its assigned place, envelopes must accompany cards, and all cards for like events need to be close together.

* Gift wrap, gift bags, bows and more

Every party department needs a wide assortment of gift wrap, gift bags, tissue paper, bows, curling ribbon and more. Balloons are also a big seller. Be sure you have a broad assortment of all of these items and more.

So those who want to know how to succeed in the dollar store business should preplan to offer a good assortment of party goods, greeting cards and gift items. They should shop with care and not only provide a good assortment of the most in-demand items. They should be aware to bring in high-quality products that are very well priced at the wholesale level to maximize the impact high sales will have on overall business profitability.

Success With Dollar Stores Starts With a Strong Party and Greeting Cards Area is a post from: Opening a Dollar Store

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Opening a dollar store business offers great potential for success in today’s economic environment. Customers keep coming back to dollar stores because of the convenience and great prices that these stores provide. This is one of the reasons more and more entrepreneurs venture into the dollar store world. Yet it is important to focus on developing and maintaining a customer service focused environment to keep shoppers returning.

In order to create a customer friendly shopping experience, the store must be consistent in implementing rules on how each employee can contribute to success. After all providing outstanding customer service starts with a strong set of rules, guidelines and expectations for all employees to follow. The set of rules must center on how to interact and address the customers who enter the store.

Here are some tips about creating a strong foundation for the employees of your dollar store business to follow:

1. WHAT Before anything else, the rule must state the main objective which is to have a customer focused environment. In every provision in the guideline, it is the customer’s satisfaction that must be looked after first and foremost.

2. WHEN The time when these rules will be applied must be contained in the guidelines. It must state that the rules need to be strictly followed once the store is open for business and every time there is a customer interaction.

3. WHERE The place where the rule takes effect is necessary too. For example, it must be applied once the employee reaches the work premises and starts the assigned work shift. It doesn’t matter what the start time, if the employee is working, providing outstanding customer service is expected. As a representative of your business it is of the utmost importance for employees to show respect and provide a warm, welcoming environment for all customers.

4. HOW Stating how to achieve the objective of creating a customer focused environment is a must. Formulating an easy to remember campaign call is one way to help the employees remember this objective. An example of this campaign is SHOP which can stand for Smile, Help, Offer and Prompt.

Creating a strong foundation when starting a dollar store business begins by establishing a sturdy set of rules, guidelines and procedures for your employees to follow. In this kind of business, the saying “Customer is King” definitely applies. It is their satisfaction that always matters. It is satisfaction that will keep them coming back for more. Achieve that satisfaction by providing outstanding customer service every visit.

To your dollar store success!

Your Dollar Store Business Can Be a Million Dollar Business is a post from: Opening a Dollar Store

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One of the often overlooked opportunities by those who start a dollar store is workforce development and empowerment. This lack of attention can occur for many different reasons. In some cases the new business owner has little prior business management experience. In other cases the new business owner may lack prior employee management or leadership experience. In still other cases it may be due to the desire to get involved in everything associated with the business; the owner wants to do everything including setting all direction and making every decision. Don’t let this happen to you. Become an empowering leader in your dollar store business.

Empowering your workforce starts by making a commitment to training before you even start a dollar store. You are committing that all employees will have the required training and all of the necessary tools to successfully perform their work. With training and tools in-place you can rest assured you have taken the right first step to prepare your employees for success.

Be sure you establish clear boundaries for your employees as a part empowering them. They must know exactly how far they can and cannot go when it comes to decision making and working without seeking specific guidance or permission. When you begin your dollar store business be sure you think through the consequences of this decision. After all, the more empowered your employees become the less you need to be involved in routine daily decisions.

Start with small tasks and build from there. A perfect first step for your dollar store business might be to establish clear expectations regarding daily break and lunch schedules for example. Then allow your employees to actually schedule the breaks and lunches themselves. Double check to make sure they are following whatever guidelines you have established.

Instill the habit in yourself to see and then praise good performance from the very day you start your business. Be sure to consistently recognize and reward desired performance. It doesn’t take a raise or a company party to make employees feel that you are aware and that you appreciate their good efforts. Feedback needs to occur even if the accomplishment is as simple as an employee properly taking the small first steps in a new job assignment.

Finally, when you start a dollar store be sure to make a commitment to continually grow and challenge your employees. This should be a never-ending effort. Remember that as employees gain more and more training they are able to contribute more and more to the success of your dollar store business.

To your dollar store success!

Don’t Overlook Workforce Empowerment When You Start a Dollar Store is a post from: Opening a Dollar Store

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The importance of locating honest, reliable, customer oriented dollar store suppliers for your merchandise cannot be understated. In fact many who start a dollar store without considering the need for top-notch vendors soon discover the many repercussions associated with obtaining their dollar store merchandise from less than dependable suppliers. The impacts of this run cross the entire business. In this article I will reveal the positive impact a well-chosen supplier can have on your business.

#1) Business costs are less with the right suppliers in-place. The suppliers you seek offer competitive pricing on the products they sell at wholesale. They will also offer weekly or monthly specials. Many will also offer closeout pricing on package change, special purchases or overstock items as well. They operate on a tight margin just like you, and they do everything possible to turn their on hand merchandise so fresh new items can be added to their inventory.

#2) Speed of service is critical from the day you start until you retire. Once you make a purchase you will have paid for the dollar store merchandise involved. Yet likely that merchandise is sitting in a warehouse many thousands of miles from your store. Your money is spent, and now you must be able to depend on the items being quickly pulled, palletized and shipped to you. Every day of delay costs you money, and reduces already tight margins. Your dependable supplier will see to it that your items are pulled and shipped quickly.

#3) Commitment to you and the success of your business. While almost every one of the dollar store suppliers you speak with will claim to really care about the success of your business, only a few will really demonstrate that in their actions and deeds. You will learn this the hard way in some cases after you start a dollar store and find your telephone calls are ignored, you aren’t provided with the best sales, and you are treated poorly in general. Stop dealing with companies that treat you poorly instantly. Move your business to those who value you and your company.

#4) Honest, reliable suppliers will always work to be honest and fair with you. They will make sure you receive the same buying opportunities as other customers. They will be fair in communicating special deals on merchandise. They can be depended upon to treat you just the way they treat the huge retail chain that purchases much more dollar store merchandise every week.

To your success when you start a dollar store!

4 Reasons to Locate Honest, Reliable Dollar Store Suppliers is a post from: Opening a Dollar Store

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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. Your store must act almost as if it were a magnet that brings shoppers back for more purchases time and again. With competition coming from so many other retailers this is truly a challenge that must be overcome. In this article I present 6 powerful steps to creating a store that brings customers back.

#1) Know your competition when opening a dollar store. It takes little work, but it is important to know exactly where your competition is coming from. While most store owners only focus on other dollar stores, it is important to look further. Look at discount retailers, retailers that have added dollar departments, and even major online dollar stores. You must know both the strengths and weaknesses of your competition. You can then match them at their strengths, and stand at the head of the pack against their weaknesses.

#2) Invest in customer service. Customer service just doesn’t happen. It isn’t without a cost. It requires proper staffing decisions, employee training, and continual reinforcement. When opening a dollar store become your company’s role model of customer service. Become the customer service cheerleader for your store. Recognize and reward employees who excel at providing an outstanding experience for your shoppers.

#3) Create an atmosphere that makes shoppers stick around. Freshly painted walls, a clean and color coordinated floor, lots of dollar store merchandise that customers want and need, excellent, attention grabbing signage, music, and friendly employees all come together to create just the right environment in your store. Shoppers will spend more time in your store and they will look forward to returning more often.

#4) Change it up. That’s right; one place you can stand apart is by continually shopping for, buying and displaying unbelievable bargains. Don’t stick to buying only from regular dollar store merchandise distributors. Add liquidators and closeout companies to the list. Look for the items that will make your store stand apart from all of the competition.

#5) When opening a dollar store it is important to become a marketer. You may have only one store, but that is no reason to allow your name not to become a household word with prospective shoppers. You must position your one store as the store shoppers know and visit. Join local business groups. Advertise in the local newspaper. Swap promoting each others’ business with other appropriate businesses.

#6) Sell the positive. Never allow a shopper to have a negative experience while in your store. This is challenging to accomplish, yet it must be done. Make sure every shopper feels they are welcomed and appreciated. Make sure the items found in your store include some real gems that aren’t just the standard dollar store merchandise found in competitor stores.

To your success when opening a dollar store!

How to Stand Out From the Trees When You’re Lost in the Retail Forest is a post from: Opening a Dollar Store

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Now more than ever when starting a dollar store it is important that your have a clear, accurate and exact understanding of your customers. You must thoroughly know their likes and dislikes, as well as their needs and wants. There can be no question about the dollar store merchandise they seek. Now is a time when you even need to understand the frequency of their demand and the visits they will make to your store. Now is a time to align the merchandise in your store to your shoppers.

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. In fact one of the best ways to build dollar store sale levels and ultimately profits when starting a dollar store is to carry exactly the items your customers want and need.

This strategy does require some effort to first fully understand their needs, and then to locate the perfect products. But the payoff is big. In the long term, prospects for success are much brighter when your store is the perfect source of those items. In fact while other retailers that are failing to make this important link begin to falter, your store will excel.

Let’s look at an example of this alignment of products to shoppers. For example, if you have many vacationers stopping in to shop, be sure you add the right merchandise. If you are close to camping and fishing, then add fishing gear, rope, clothes line, clothes pins, matches, flashlights, tarps and other items that will appeal to campers. Food items such as ‘just add water’ instant foods will likely be hot sellers as well.

Here’s another example. If you are starting a dollar store close to a bingo parlor, focus on the in and out, quick purchases of these customers. They will come in before sessions start, and return to your store again as they leave to go home. Bingo markers, snacks, beverages and puzzle books will certainly appeal. Jewelry and key chains designed around a bingo theme will be another hot merchandise group. Many of these shoppers will have only minutes to run into your store and pick up the items they seek. Be sure to maintain a good stock of them close to the cash registers to expedite payment.

No matter what the situation, your store will have very specific customers with very specific needs and wants. Invest the time to clearly understand exactly what those needs and wants are when starting a dollar store. Then be sure to carry the dollar store merchandise that will be in-demand with these shoppers. Always keep the hottest selling items in-stock and available for purchase. That is a formula for success in every economic situation.

To your success when starting a dollar store!

Align Your Dollar Store Merchandise to Your Shoppers is a post from: Opening a Dollar Store

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There is a strong loyalty to the dollar price point among shoppers entering a dollar store. Finding all of the dollar store merchandise to be priced at $1 has historically been a great motivation to bring them in. Then the day of the dollar plus store came. With that change came some confusion and resistance from many previously dedicated shoppers. It was almost as if they felt cheated by store owners who faced every higher prices for merchandise, freight and almost everything else associated with there business operation. For those selling dollar plus items there are some steps to help ease the pain for shoppers. In this article I present 4 such tips.

Tip #1) It is important to differentiate the items that are selling for over one dollar from those selling at the dollar price point. It is important to keep dollar items together in their departments. Keep all items selling in excess of a dollar clearly distinctive from the dollar price point merchandise selling in your store. Eliminate confusion for customers. Otherwise they will likely hesitate to make any purchases at all while in your store.

Tip #2) Add distinctive price tags to all items selling for over one dollar. Add brightly colored, easily read tags. Make the prices for all over one dollar items very obvious. If you’ve done a good job of segregating merchandise you can still get away with leaving one dollar items un-priced. However all items selling for over one dollar fall into this category.

Tip #3) Build dollar plus into your store name. Make sure your business name reflects the business you are in. If you sell items for $1 and more, than make sure your name reflects exactly that. Names like ‘Only $1′ or ‘Nothing But $1′ and the like will certainly lead to confusion and problems when your dollar store merchandise in fact sells for more than one dollar.

Tip #4) Bring in dollar store merchandise that will be in great demand. Make sure the items selling for more than one dollar are strongly desired by your core shoppers. Have a store filled with items that customers will value no matter what the final pricing.

Taking these simple steps can make it much easier on both your customers, and your employees. Everyone will clearly expect and clearly see which items sell for which prices. Products are those most wanted and needed by shoppers. It is easy for cashiers and other store employees to know exactly how much various items sell for.

To your dollar plus store success!

4 Tips to Dollar Plus Store Success is a post from: Opening a Dollar Store

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