Almost everyone you know would say that running your own business and being self employed is the best thing that can ever happen. Then the one business people see as the easiest to start is a retail store and in particular a dollar store. Normally even relying on personal savings can be used to start this kind of business. It really looks like the ideal solution to the issues of job scarcity that is going on right now.
Obviously the biggest attraction here would be the fact that the owner is his own boss and gets to take home the lion’s share of the profits and may also choose to plow some of it back to grow the business. It’s all left to the imagination what the owner may do to boost the business.
Dollar stores being the best option to many are nowadays seen springing up in most places. They are the easiest to start with moderate capital layout required to make it work quite comfortably. The main aim is to make loads of cash.
If it is the dollar store for you, the next thing is to make a list of the items you need to stock. Go over this with a lot of keenness as you will not want to omit anything your customers would need. Again the type of stock will determine the kind of customers that get attracted to the store. This is the backbone factor for any such business. Here is how to do it.
There is what you call essentials that are the necessary grocery every home must stock up on so these will sell pretty fast. They consist of toiletries, soaps, and other cheap clothing.
It would be a big decision but you will have to add to the list of essentials by stocking some of the not very necessary but easy on the eye goods which when the customers see they find it difficult to resist.
The best thing is to go out and check what other shops around have. Another way is to do a small market research or survey by way of fliers to know what exactly they need.
With your list ready, the next move would be to go to the suppliers whom you have selected very carefully indeed as this is where another problem may lay. Get the ones with easy trade terms and affordable stuff. In a one dollar store, it is quite important to get the right prices and choice of goods.