|
|
 |
|
|
You Must have Format Clarity when Starting a Dollar Store by Robert Hamilton
|
|
|
You Must have Format Clarity when Starting a Dollar Store |
|
|
|
|
|
Business,Small Business
|
|
|
If you are starting a dollar store the days of only having a one-dollar-price-point format option are long gone. Today there are more format options than many can imagine. In fact, for the new entrepreneur who is about to undertake a dollar store startup, understanding the options and then clearly defining the format for their store have become critical steps in the preplanning process. Making this decision is required before a final business plan can be complete. Even more important to you as a leader is the fact that without a clearly understood store format you will find some decisions difficult to make. If you are unclear about the format, image the confusion for your employees and your customers. Start by examining the format options available. In today’s marketplace the dollar format has stretched to include dollar-price-point, dollar-plus (Dollar-plus now includes a variety of one-dollar and over, as well as various single higher price points such as five-dollar only, ten-dollar only, and many other variations.), and even just bargain centers, and closeout stores. The list goes on from there. Your challenge when starting a dollar store is to determine which of these or even a different hybrid format to implement. If you have another idea, explore the viability of your own preferred option. As noted, many are coming up with their own hybrid formats. Many retailers selling items for well over one-dollar have added dollar aisles in their store. Other one-dollar-price-point merchants are adding sections with varied over one-dollar items to their store. Still others are staying true to a one-dollar format and adding a dollar-plus area focused on a single product set. Be sure to examine all the ramifications of the final plan. For example, what does this mean to your dollar store startup costs? It is important there are no added costs associated with the format that remain hidden until the cash that isn’t in your forecast is required. Are there reliable dollar store suppliers ready with the merchandise you will require? What could be worse than having a great format only to find the suppliers you assumed could supply products aren’t able to meet your expectations? Then a long, tedious search will need to be undertaken before anything else can happen. Is there special equipment, licenses or training required for your chosen format? Clearly define the final format prior to moving on with starting your dollar store. With the decision made, go to work on your business plan. Once your plan is completed and you have dollar store startup funding, it’s time to start working on your dollar store startup itself. To your success when starting a dollar store! Learn how you can Start your own Dollar Store Business.
Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.
Related Articles -
starting a dollar store, dollar store startup,
|
Rate This Article  |
|
|
|
|
|
Do you Agree or Disagree? Have a Comment? POST IT!
| Reader Opinions |
|
|
|
|
|
|
|
|
|
| Author Login |
|
|
 |
Advertiser Login
ADVERTISE HERE NOW!
Limited Time $60 Offer!
90 Days-1.5 Million Views
|
|
TIM FAY
After 60-plus years of living, I am just trying to pass down some of the information that I have lea...more
|
|
|
|
|
GENE MYERS
Author of four books and two screenplays; frequent magazine contributor. I have four other books "in...more
|
|
|
|
|
LAURA JEEVES
At LeadGenerators, we specialise in content-led Online Marketing Strategies for our clients in the t...more
|
|
|
|
|
MICHAEL BRESCIANI
Rev Bresciani is the author of two Christian books. One book is an important and concisely written b...more
|
|
|
|
|
STEPHEN BYE
Steve Bye is currently a fiction writer, who published his first novel, ‘Looking Forward Through the...more
|
|
|
|
|
LEVAL AINAH
I am an internet marketer and also an educator. My goal is to help others who are looking to improve...more
|
|
|
|
|
PAUL PHILIPS
For more articles, blog messages & videos and a free e-book download go to www.NewParadigm.ws your p...more
|
|
|
|
|
ALEX BELSEY
I am the editor of QUAY Magazine, a B2B publication based in the South West of the UK. I am also the...more
|
|
|
|
|
DONNIE LEWIS
I'm an avid consumer of a smoothie a day living, herbs, vitamins and daily dose of exercise. I'm 60...more
|
|
|
|
