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If you are about to open a dollar store, then it's time to get creative when it comes to purchasing the dollar store merchandise required to stock your new business. In fact the need to continually work at reducing the cost of products you sell will never go away. Always be on the lookout for new, low cost dollar store suppliers. The simple truth is the better the job you do at driving excess cost from your merchandise the more likely you are to achieve profits for your business. Idea #1) Buy your dollar store merchandise by the semi-load. Your general suppliers will be eager for these sales. They will gladly build pallets of the very items you need to meet customer demand. And of course you will save money on the merchandise and the freight when you buy using this strategy. Idea #2) Buy an existing store. When you open a dollar store get the word out that you are willing to buy the dollar store merchandise from stores that are reducing their size, or even closing down. Just get in before all the best items are sold. And remember you deserve a discount as there will be labor required to box and transport the merchandise. There will also be a need to sort items once they arrive at your store. Finally, there will be shop worn and damaged items that cannot be sold in your store at all. However a well negotiate deal will benefit the seller by allowing a quick business closure. Your bottom line will also benefit as you see profits grow from this technique. Idea #3) Become the manufacturer. This strategy takes less cash than you might think. Just be sure you focus on only the very hottest selling items. Avoid seasonal items, items that have peaked and have falling sales, and all others items that aren't the hot selling staples for your business. Continue to purchase those items from your established dollar store suppliers. It will take a little legwork to locate your manufacturer, and to negotiate the price. Start by attending trade shows that are featuring manufacturers and their product displays. Make this idea work and your profits will quickly grow. Idea #4) Cut transportation costs. This can be accomplished in a variety ways. Start by negotiating freight on all dollar store merchandise you order. Next examine the huge discounts associated with shipping by the container or via railroad. Finally, begin working with other companies shipping into your area to share freight costs. Start your negotiations with suppliers, but on to the transportation companies themselves if that doesn't work. Don't become discouraged if it takes a little time before you begin to see your freight costs going down. Always remember the impact of cost cutting to your profits makes the time and effort well worth it. To your success when you open a dollar store! Learn how you can Start your own Dollar Store Business.
Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.
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