Are you opening a dollar store? Certainly the most challenging task you face early in the process is finding just the right location. While there might be many retail spaces available, be sure the final decision you make is for a space that truly meets your needs. Don’t just jump at the first location that’s the right size. Investigate to make sure the location is perfect for your new business. The reward for all that effort will be a greater likelihood of success. You will be stacking the deck in your favor. Since location is so important to your long-term results, that’s exactly what you need to do.

Talk to your local Chamber of Commerce before opening a dollar store. You’ll find your local Chamber of Commerce can provide lots of information and details about the area they serve. They may be able to provide great demographics information. They’ll have information about businesses in the area. Just put together your list of questions and let them help you. While you are there, strongly consider joining. Become an active member and meet other business people in the community.

Obtain the traffic count data for streets directly surrounding your proposed business. Often state or local agencies have traffic count information available. It’s vital to know how many vehicles pass the proposed location on a daily basis. Each of those passing vehicles represents a potential shopper. The more traffic the better when you have easy entrance and egress.

Speak with others doing business in the immediate area about opening a dollar store. Those in business are a great resource for information about the local area. They’ll know the information you really want. They can provide informal information about crime in the area, shopper habits, and about neighboring business. You may even stumble into someone who would gladly sublease at lower payments.

Check with local law enforcement regarding crime statistics. Local law enforcement is such a great resource. They will be able to help you with crime data. In many cases they’ll also gladly provide help to ensure you reduce risk of crime in your store.

If you are opening a dollar store be sure to ask your prospective landlord for the demographics, traffic counts and other information you seek. Often they or their Commercial Real Estate Broker will have developed a complete information package about the property in question. Information generally included will include statistics about the space and the surrounding area, demographics, traffic count, as well as details about the local area.

To your success opening a dollar store!