Are you about to undertake a dollar store start up? If so your mind is probably spinning as you begin to consider all the things you don’t know about how to open a dollar store. You know there will be dollar store costs. Yet you wonder exactly how much cash will be required to successfully open and grow your dollar store business. Of course you know there will be a need for dollar store merchandise. But then you don’t know where the reliable suppliers are located. For that matter, you probably aren’t even sure how much dollar store merchandise costs or how much to purchase. The list just keeps getting longer.
Yet there are steps to help your quickly and successfully open a dollar store. Read on as I present 4 of the most important steps to take as you prepare to start a dollar store.
#1) Read and study everything you can find about how to open a dollar store.
Learn everything possible about the dollar discount industry before your dollar store start up. Read books. Subscribe to industry newsletters and magazines. Invest time to find those who know exactly how to start a dollar store and who write articles and books on the topic.
#2) Attend training and seminars about how to open a dollar store.
One of the best sources for this information is major dollar discount industry trade shows. Often the bigger shows offer seminars and training on best known methods or emerging new technologies. These sessions can be invaluable to you. While there, don’t forget to meet suppliers and existing store owners. They can both be great sources of information as well.
#3) Treat your dollar store start up as if it were a project.
Develop a checklist of all the steps you need to take as you move toward your dollar store grand opening event. Place all of the major actions in chronological order on your project list. Make sure to manage each step. Don’t allow delays in one step to cause problems for another. For example, don’t place huge orders for dollar store merchandise until you have a signed lease and are ready to start receiving pallets of dollar store merchandise.
#4) Complete all of the preliminary actions before moving on to other actions.
Be sure you have a compete business plan, all required funding and a signed lease before you let the clock start on your dollar store grand opening event.
To your dollar store start up success!
Learn more about how to open a dollar store here.