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Have you made the decision to move forward with opening a dollar store? If so, you have likely developed a long list of challenges that must be quickly addressed. Your list will include more items than you ever imagined would be required just to start your store. Undoubtedly the task list will include identifying reliable suppliers and then creating and submitting your first dollar store merchandise orders. Yet after opening your store you soon realize locating reliable suppliers is just the first step. There is also the challenge of negotiating super prices. In fact the importance and potential that growing your business can have on long-term success is directly tied to your buying abilities. First you need reliable suppliers for your store merchandise. Next your reliable suppliers must be very competitive in their pricing. But as a standalone business there is only so much negotiating power available to you. That’s where it is important to remember that there is strength in numbers when it comes to buying products from distributors and wholesalers. In fact, when opening a dollar store, one rarely used method for leveraging the strength of numbers to purchase merchandise is to form a merchandise buying group. This simple idea could provide higher profits for all who participate. When you are opening a dollar store those higher profits are one of the keys to your success. The same holds true for every other dollar store around. Why not band together and save money for everyone? There are many variations to this idea. You could come together and agree to simply split orders across an agreed number of stores. One or more of you could form a wholesale distributor business. Then you could buy, hold and resell the dollar store merchandise to others as they need it. You could even open sales up to other retailers not in your alliance. Still another variation would be to come together and provide each member with discounts in the form of rebates for the purchases they make. Rebates could be distributed at the end of each year. If you are opening a dollar store there are many other variations to this idea. While many dollar store owners will feel they do not wish to participate for a variety of reasons, some will be willing to give it a try. With a little time, effort and promotion others will join over time. After all saving money on dollar store merchandise is critical for business success. Give it a try. To Your Dollar Store Success! Want the best ideas to earn from your dollar store business? Check out "Tactics to Add Streams of Income to Your Dollar Store Business" at www.OpeningADollarStore.com.
Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.
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