1:49 PM Your Dollar Store Business is a Work in the Making |
One of the challenges for those who undertake a dollar store start up is determining the very best methods of operation for their new business. Most about to start their dollar store start up think finding the perfect location is the biggest challenge. While this is an extremely important step in the start-up process, there is much more to do. Achieving dollar store success also requires identifying the dollar store merchandise that is most popular with prospective shoppers. It is locating the most reliable dollar store suppliers to obtain those in-demand products. The list just keeps growing from there. #1) Stay in touch with your customers. Your customers can be a wealth of valuable information. Always ask shoppers about dollar store merchandise they want and need, yet you do not have available in your store. Just a simple вЂdid you find everything you wanted’ during the checkout process can reveal a great deal of information. #2) Routinely invest time to identify and screen potential dollar store suppliers. During your dollar store start up the focus is locating suppliers that can quickly and accurately process large orders of dollar store merchandise to support your new store. Once your dollar store business is open and operating the next area of focus is obtaining the latest hot-selling products and reducing the cost-of-goods-sold for products in your store. Both of these actions will likely require locating and adding some new dollar store suppliers to the mix. #3) Read industry publications such as magazines and newsletters. One of the quickest and easiest ways to stay in-touch with the major happenings in retailing and specifically dollar discount is to read business and industry publications. Look to the experts to provide information about hot sellers, new retail and dollar discount trends and general data about the state of the industry. #4) Attend industry events. Get connected with other retail business owners, vendors and experts by attending the best industry events. Attend top dollar store trade shows and the accompanying seminars, industry training and informational events as well as retail events. To your dollar store business success! Find out how you can open your own dollar store business. Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer. |
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