Are You the Right Person to Open a Dollar Store?

Those in the business know it is absolutely fun and rewarding to open a dollar store. However, it takes a special person to excel. After all, there are long hours and the work can be very strenuous at times. And of course, there are many risks when you are in this business. These include major competitors with seemingly bottomless pockets to stand behind them, and difficulty locating the right products at the right prices to allow profits. Yet with good management, they continue to thrive and the owners are happy they chose this direction for their own business. Even today, many are examining this business opportunity. Many are choosing to start a dollar store of their own.

So, why are there so many opening dollar-store businesses now?

Limited barriers to entry
It is fairly easy to open a dollar store. There are no major barriers to getting started. For example, there are no formal education requirements. There are also no technical skills or training required to reach success. There is no need to relocate across the country to start your own business. This business is easy to operate with a little training and experience. Opening a dollar store can be completed quickly too. The only real barrier is gaining access to the cash required. Yet when compared to other businesses, even this amount is small.

You are the boss
For many it allows them to fulfill their dream of being their own boss. Finally, they can fire their boss and open a store of their own. No more being told what shift you will work and what work you will do; and all for someone else. Now the work you perform is for yourself. You are the decision maker for your own business. There is a special pride only known to those who own their own business.

Dollar store puts the fun back in business
Opening a dollar store is fun and exciting. The daily operation is challenging and yet rewarding. There’s new merchandise arriving all the time. There are customers to meet and help with their purchases. You will be able to see quickly the results of hard work.

There are challenges
While the barriers to entry are fairly limited for those opening a dollar store business, there is another side to the discussion. You need to address business challenges. You are the business manager and there are difficult business decisions to make. You will need to focus on the day-to-day operation of your business. There will be long hours and frustration as your family eagerly awaits a vacation that must be postponed because of business problems. Finally, as with all new business there are financial risk to be understood and resolved.

To your success when opening a dollar store!

4 Important Uses For End Cap Displays of Your Dollar Store Merchandise

Have you ever imagined what it would be like to own a busy dollar store? If you are about to start a dollar store one of the keys to achieving ever-growing profits is the sales generated from the end cap displays in your store. It takes a combination of aggressive merchandising, proper merchandise selection and focused attention on maintenance to achieve sales that even approach their potential. But when everything comes together the sales can be quite impressive. For more on this important topic read on. In this article I present 4 important uses for the displays in your store. We focus specifically on the types of merchandise to always display first.

Use #1 – Display the newest and hottest merchandise

End caps are the perfect location to introduce your shoppers to the latest, hot selling items that arrive at your store. Since it provide better exposure for these items, watch as your sales and profits climb when you bring the latest hot-seller into your store for the first time. When you start a dollar store just be sure to bring in adequate quantities to completely fill and replenish the displays. A fully stocked end cap will outsell a partially filled display every time.

Use #2 – Display seasonal merchandise

Shoppers are often looking for items as each new season approaches. Use your end caps as a means of communicating the arrival of the items they seek. Dollar store merchandise to display includes spring, summer, fall, autumn and winter time arrivals, back to school merchandise, and more. Not only will a properly stocked end caps help maximize sales of these items, but they will also create additional sales as shoppers look for other related items in your store.

Use #3 – Display holiday items

Watch your holiday merchandise sales sizzle when you start a dollar store. Always fill end caps with the new arrivals for each holiday of the year. Properly stocked and promoted end caps can lead the way to record sales levels and profits for your store year after year. Flex the number of displays filled with holiday merchandise by the total sales generated during that holiday. For example Christmas usage should be significantly greater than the number used to display Mother’s Day or Father’s Day merchandise.

Use #4 – Display special one-time purchases

When you start a dollar store you will soon discover that your shoppers are eager to find new items in your store during each and every visit. As a result you must always be on the lookout for great bargains. Use your end caps to displays these unbelievable bargains and watch the excitement. Your sales and profits will continue to climb as shoppers return more frequently in the hope of locating one more item that is not normally sold by dollar stores.

End cap displays do require extra attention. Given the huge volume of sales, they must be straightened frequently throughout the day. Make sure there are attention-grabbing signs posted on all displays. Never allow them to run low on merchandise. Then watch your profits climb.

To your success when you start a dollar store!

5 Basics of an E-Commerce Business

What Is E-commerce?

Put simply, E-commerce means the exchange of goods and services over the World Wide Web. It can include any business transaction done between individuals and business, whether buying or selling of traditional or digital goods, or transmitting funds for services.

Is it right for me?

On the plus side, e-commerce businesses require minimal capital and effort while enabling you to reach a much wider audience. On the negative side, you need to be able to update your online business with the fast-changing demands of the e-commerce economy.

Before you consider jumping on the e-commerce bandwagon, you need to consider the following:

1. Niche:

With millions of web pages and more being added every minute, your online business can drown away into nothingness, unless you find a niche for yourself. Whether you are a musician, caterer, writer or an artist, there is demand for your services, but to be successful you need to concentrate your energies on your chosen niche.

2. Marketplace:

Once you have decided your niche product, you need to decide where to sell it. You can either choose to sell your products on an online marketplace (similar to your neighbourhood supermarket) or set up your own blog or web site to sell it (think of it as an independent store). Either way, you need to make sure that it is easy to browse and provides a smooth shopping experience.

3. Payment Process:

All of us have waited in long lines at a supermarket at some point of time. E-shoppers however lack the patience to do so, which is just one of the reasons why they shop online. If your payment process takes ages, or if it isn’t secure, you will lose customers, money and worse than that ‘trust’ and unlike the real world, you will never be able to mitigate the effects of even one negative review. If you decide to sell through an online marketplace like eBay, your worries about payment processing are taken care of by them, but if you are selling through your own blog or Web site, then you must invest in a reliable shopping cart software/vendor.

4. Customer Support and Delivery:

The cliche Customer is King applies much more to an e-commerce business model than to a traditional business model. Online shoppers are technology savvy and research thoroughly before buying products. One unsatisfied customer, one negative review is all it will take for you lose a lot of future business dollars.

5. Marketing:

Growing an E-commerce business takes an entirely different marketing approach. You will need to be savvy about Digital Marketing Techniques, Search Engine Optimization and keep up with online trends to drive traffic to your online store and convert them to customers.