Reasons to Consider Opening a Dollar Plus Store

For those examining the potential of starting a dollar store there are many, many strategic decisions to be made. Each of those decisions inevitably affects the final overall success of the business. Dollar store costs and ultimately dollar store profits ride in the balance as the final make-up of the business is determined. One of the most challenging decisions involves determining whether you are opening a dollar plus store or you will stay with the tradition everything is only one dollar format. In this article I will examine some of the reasons this might be the right time to open a dollar plus retail business.

Reason #1) As your dollar store costs continue to increase for everything from merchandise to freight, rent to payroll, and almost everything else, the tradition dollar only format doesn’t provide the room required for adjusting your retail prices to reflect the increases you are experiencing. It traps you into a set price and your dollar store profits are squeezed – potentially over time to the point where none remain.

Reason #2) Dollar plus format enables you to generate much higher average sales per item sold. In a dollar only format the sale price of a single item averages $1. Yet in the dollar plus format, your average sale can be much higher. Depending on your final decision regarding the types, brands and overall quality of items sold, your average sale price per item can amount to $2, $3, or even $5 or more.

Reason #3) If your average shopper purchases 6 items, your total sale is $6.00 in a dollar only format store. Yet in the dollar plus format, even if the average number of items purchased is reduced to 4 items with an average sale price of $3 your average sale is $12. In fact you could have a reduction to 2 items per sale and still sell exactly the same amount in gross sales. Imagine the reduction in dollar store costs associated with labor if you sold 1/3 less items through your store. Many of your other expenses will also drop based on less merchandise being handled.

Reason #4) In the dollar only format if your cost of goods sold is 60%, your gross profit is 40-cents per item sold. Maintaining the same 40% gross profit, but with dollar plus sales changes the number of items required to achieve the same total gross profits. In fact, your average gross profit per item on a $3 average sale becomes $1.20. Build sales in a dollar plus store and you have much greater leverage to build your dollar store profits as well.

All of these reasons combine to make opening a dollar plus store a viable format option worthy of consideration. There are no guarantees when you open a business. Do your research. Study the marketplace. Analyze the data. Make the decision that works best for you and your specific situation. Just remember to consider dollar plus as you go through the decision making process. Your dollar store costs and your dollar store profits ride in the balance.

To your dollar plus store success!

Dollars From Home With an Online Business

Working from home sweet home gives the average head of household the unique change of producing home dollars for the family under matchless working conditions and privileged environment.

A home based online business has a lot of appeal for many people that sincerely would like to dedicate a full time schedule to make an honest attempt to achieve financial freedom, or as a part time to bring in some extra income.

The likelihood of earning those sweet home business dollars has been greatly increased by the development of existing online technologies and the advantages achieved by the introduction of new Internet technology and its applicable marketing techniques.

The natural appeal of starting an online business resides in big part on the many advantages it offers to the potential home worker. Any person able to become a home worker experiments an absolute change in its lifestyle, starting with the working atmosphere. No face to face encounters with yelling bosses, frustrated and/or uncooperative coworkers and demanding costumers. The desperate attempts at punching in and out on time have totally disappeared; the annoying obligation of keeping rules ranging from neatness to break times is not longer required, much less enforceable, unless of course they are self-imposed.

The ever increasing burden in time and money that commuting to and from work represents, has been normally replaced by short walks inside familiar walls and the occasional stretch. No more gas money nor traffic jams; less expenses, and more time with loved ones. These are definitely some advantages that any home worker takes into consideration when planning how to start a home based online business.

The Internet is undoubtedly the biggest ally the work from home business entrepreneur has in reaching the dreamed goal of financial freedom and its manifested reality in the form of running streams of home business dollars.

This online wild horse has to be tamed though. Loose and out of control could run anybody over, and is of no advantage. It becomes a noble ally after being tamed and harnessed while maintaining all its natural explosive force. Any online business once changed from a wild state to a controlled one, becomes a real source of power capable of generating thousands of dollars from home.

Unfortunate for the fainted of heart, there is only one way of taking the first step, you have to step into the corral … and close the gate behind you. In the form of hope, there is an alternative to this option, the careful observation of how it’s done by people who stepped in before you.

Thus the appropriate advice for the online business entrepreneur that wants the extra income from home, should be the encouragement of learning all the possible angles and absorbing every bit of knowledge and information available on this home based business, before embarking in the untried conquest of home dollars and financial freedom.

The potential results, at financial and psychological levels, that could be obtained by starting an online business outweighs by far the initial cost resulting from any combination of money, time and effort.

Although the task remains a difficult one, as a closing and relaxing reflection for the reader consider this … How do you call the only place where you can earn home dollars in the comfort of your underwear …home sweet home ?

Copyright © F. Prida . All Rights Reserved.

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.