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Almost every entrepreneur who has opened a dollarstore has at one time or another considered adding a dollar plus section to their store, or even switch the entire store to dollar plus. Yet for one reason or another many just can’t take the important step to actually take action. Some fear loss of shoppers to stores that retain dollar only pricing. Others are unsure what steps to take as they actually begin starting a dollar plus store within their existing store. In this article I cover 5 key steps in the process of starting a dollar plus department in your store. #1) Change your store footprint. Designate a specific area for dollar plus merchandise. This is where you will begin starting a dollar plus store within your existing store. Ideally the area will be enclosed away from dollar price point items. This can be done by adding short, temporary walls. You can also simply move gondola fixtures to create an enclosed area for dollar plus items. #2) Create easily read signage for the designated area. Use larger sized font. Clearly communicate the merchandise in this designated area is dollar plus. This helps to reduce shopper confusion about pricing. It also warns those with no interest in over one dollar items to stop and stay in the main store area. #3) Make the opening of the dollar plus area an event. Be sure to capture shopper dollar plus merchandise requests even before you open. Add those items to the initial inventory if possible. Begin word-of-mouth promotion long before you actually open the area. Drop small printed flyers in shoppers merchandise bags. Build excitement by keeping the new area blocked from customer admission until the designated date and time. #4) Promote the grand opening and the growth of the dollar plus area. Conduct a drawing for valuable gifts just as you did for the grand opening of your original store. Hand out balloons and other free prizes to visitors during the grand opening timeframe. These promotions are in addition to all advertising and promotions you are doing to continue the growth of your dollarstore. The exception, of course, is if you plan to reformat the entire store to dollar plus soon. #5) Your dollarstore sales can remain strong even when starting a dollar plus store inside your existing business. Help alleviate shopper fears by acknowledging and continuing to aggressively promote dollar price point items. Keep all the most in-demand items in stock. Maintain your good reputation by staying focused on the continued growth of your dollar price point business while testing the waters for over a dollar. To your success starting a dollar plus 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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