Virtually all who open a dollar store worry to some degree about whether they will actually achieve success with dollar stores. Most worry about the question of success right up until the time the store opens for business the very first time. Then as more and more shoppers parade through the entry, most breathe a sigh of relief and move on to worry about the day to day challenges before them. Often it is as if they are lulled into the assumption all will be fine with their business.

And things seem to be going okay. Customers continue to come back. Sales are slowly marching upward most days. Wholesale suppliers are shipping merchandise to their commitment. But there still seems to be something missing. For some that something is called profit. Sure sales are inching upward, but the mountain to be climbed is looming. To achieve profitability sales need to grow dramatically, and costs must decline just as dramatically.

It is then that these new store owners realize action must be taken if they are ever to achieve success with this type of business. After all, while there is a reserve to keep things going, it is not endless and will run out at some point. And ever though sales are moving in the right direction, the pace of sales growth is not meeting plan. On the other end, many of the costs are running higher than projected.

The cost of goods sold seems to be almost out of control. The products are great, and shoppers love them, but in the end wholesale pricing is not affording a reasonable profit.

So what should these new store owners do if they want to achieve success? Maybe it is time to admit it was a mistake and cut the losses. Or maybe there is another way. Possibly there is someone out there who can provide some great ideas about how to turn things around.

Fortunately there are many who can help. There are a variety of options to learn how to grow sales faster and how to cut costs to the right levels.

* Proven business experts - often well-known business experts offer training programs, seminars and other opportunities to learn. Don’t forget to read about them as well.

* Dollar store experts - there are a remarkable number of proven dollar store experts available to help. Some are consultants, others have written about the ‘how to of dollar stores’ and others provide training programs.

* Training programs - training opportunities abound. While not all are specific to dollar stores, many offer great general business and retail business training. These are available at colleges, trade shows, and through seminars.

* Previous dollar store owners - locate a previous store owner and you may have a goldmine of expertise. Make sure they were successful, and their values align with your own. Then, if they are willing, start asking your questions.

* Existing dollar store owners - many store owners are concerned that all dollar stores succeed. Find those with that philosophy and you will have someone who can provide an almost limitless supply of knowledge and experience.

If you are working to achieve success with dollar stores, don’t feel you must suffer through the ups and downs of learning as you go. There are knowledgeable experts to help. All you need to do is to recognize you need help, ask for the help, and then listen, learn and apply what you discover to your business.

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