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When first opening a dollar store there’s not much doubt that where to find the right dollar store merchandise is question #1 in most owner’s minds. Most new business owners don’t know where to look for the very best suppliers. They also don’t know the right questions to ask once they locate a prospective supplier. Fortunately the hunt is easy. There are many quality suppliers available. It is just a matter of knowing where to start the hunt. In this article I present 4 key sources for your merchandise. These categories will each open the door to hundreds of potential suppliers for your business. Source #1) General dollar store merchandise suppliers. When opening a dollar store here’s the place to go for most of your core product needs. A reliable general merchandise supplier can be the ticket to quickly and easily securing most everything you need to open your store. They are also the best choice for routine product replenishment orders. Source #2) Specialty product suppliers. Some departments are best stocked with merchandise from specialty suppliers. Just a few examples to consider include household cleaners, candles, party supplies, greeting cards, costume jewelry, toys and some health and beauty items. While you may look to general suppliers to fill in when items run low, these specialty suppliers can often provide a bigger selection at very competitive prices. Source #3) Liquidation and closeout companies. Most who are opening a dollar store never think about the potential benefits of purchasing from liquidation and closeout companies. They fail to realize they can stock their store with items that typically sell for much more than a dollar. Yet these companies can sell to you for pennies on the dollar. Wisely using liquidation and closeout companies can result in incredible buys for your shoppers and solid dollar store profits for you. Source #4) Closing retailers and wholesalers. In today’s economy there are many businesses closing every week. While this is a tough experience for these companies to face, they are often very eager to closeout all of their remaining merchandise and equipment quickly so they can close the doors for the last time. This helps them not only avoid added operating expenses, but also takes them away from the emotion associated with their closing enterprise. In these situations you may come across items that you typically pay much more for than your dollar store merchandise. These items are often sold for a few pennies on the dollar. The business owners are just happy to have it gone. To your success when opening a dollar store! 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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