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Opening a dollar store and then growing that business requires the owner and manager to successfully do many things. Each of those individual efforts is critical to overall success. Together they combine to determine the ultimate level of success achieved. One of the most critical pieces of the puzzle is determining the right products to carry and then maintaining adequate inventory levels so the most in-demand products are always available to meet customer needs. No matter what else you may do in your store, it is critical for you to carry the products your customers want and need. Your customers expect you to offer the basic consumables they seek on a routine basis. They reward you by returning time and again to purchase them whenever there is a need. Of course, they also make other purchases while in your store. You’ll learn soon after opening a dollar store that one of the best ways to say ‘thank-you’ for shopping with us is by carrying the products most in-demand at all times. When opening a dollar store one of the biggest challenges is locating suppliers of name brand merchandise that can be sold at the dollar price-point. While it takes time and effort to locate these products, having them in your store will pay dividends. Attend trade shows, speak with local suppliers, and ask all of your regular product suppliers about name brand products for your store. While the investigation will lead to some dead-ends, there will also be some great discoveries. Those name brand products you do locate will create a buzz with your shoppers. Another often overlooked product category is impulse items. Learn the preferences of your shoppers and bring in impulse items that meet their needs. Don’t neglect the old standby items such as chewing gum, candy and flashlight batteries. Add some more unusual, but hot sellers and you have a winning combination. You’ll be amazed at the sales volume a simple display of the right impulse items can generate. Be sure to rotate your merchandise to maintain excitement and to maximize your sales. Successfully opening a dollar store requires a good understanding of your shoppers. With that knowledge you are equipped to bring in exactly the products they want and need. Sales will add up quickly when the right product mix is available and well-displayed. Give it a try. To your dollar store business success! 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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