One of the big fears for many dollar store owners is associated with the big-box competitors. In fact those who own a dollar store must take steps to maximize profits while facing the growing threat from these major players. One strategy to address this threat is to add the right $1 plus merchandise to the mix in your store. In this article I present a strategy to add profit, sales and to compete successfully with other stores all at the same time.

* Keep a good selection of core consumables at lower prices to compete head-on and to keep attracting shoppers back for return visits. If these items have historically been priced at $1 in your store do everything possible to maintain that pricing, especially if your biggest competitors continue to hold the line at that price.

* Be selective about what you purchase and where you purchase it. If you own a dollar store one of the keys to long-term success as a dollar store owner is to develop a reliable set of wholesale dollar merchandise suppliers. These suppliers need to deliver the items your shoppers seek at the time they are needed. The pricing needs to be competitive and quality cannot be sacrificed just to cut a penny or two off the wholesale dollar merchandise prices you pay.

* Add closeout and liquidation items to the mix when possible. If you are a dollar store owner you cannot afford to find one or two key wholesale dollar merchandise suppliers and then close your eyes to other buying avenues and opportunities. While your core suppliers are critical to success, you must be creative in your buying. Look to closeout and liquidation companies as one option for finding treasures your shoppers will scoop up when they arrive.

* Prominently display high-value items. When you own a dollar store your goals is to make sure every shopper sees the high-value products whenever they visit. Place these items on end caps and other high-traffic display areas in your store. They will purchase them. Seeing these items will also bring shoppers back to check for the next great bargain you have found for them.

If you own a dollar store it is important to never allow the competition to dictate your success. You must be on-guard and creative as you seek the best ways to win the race. Adding dollar plus items is one way to increase profits. Be sure to maintain a good selection of $1 items. In fact 65% or even more of the merchandise in your store might remain at $1. This balance opens the door for creative buying and superior merchandising. As a dollar store owner it is all about leveraging buying and merchandising to attract shoppers and build sales ever-higher.

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