Having a small dollar store will line up a lot of opportunities for you. With little investment funds required, a store of this kind will bring in a lot of profits for you. Plus, you can open it for only two or three days in a week, which is very perfect if you do not have much time to spend. Here is a guide to help you open your very own mini dollar shop:
- Reserve a space to open your dollar store in. The best places to search for a space for your store are in indoor swap meets. These are previous locations of big department stores. Find out what you need from the management to open a store. Make sure you make a reservation before you start with the other steps.
- Apply for a tax identification number for your dollar store business. This is necessary to help you purchase wholesale products without having to pay taxes for the purchase. Instead, your customers will be the one to shoulder a sales tax that can you can pay periodically to the department of revenue. It is very easy to get this identification number and more often than not, getting one is free.
- Find a good supplier for your dollar store merchandise. It is best that you find a wholesale supplier of dollar store merchandise. Take note that it is necessary for you to purchase a good number of products so you can take advantage of a lot of discounts in your purchases from the supplier of your choice. In case you cannot find a direct supplier, you can find a store that offers basic one dollar items. Ask the manager to add your orders into his orders to his supplier in a price that is reasonable. However, make sure you find a store that will not treat you as a competitor in the field.
- Set up your store to prepare it for opening. Depending on your budget for the business, you can use your old furniture to display your items or you can buy new or old shelves and tables. Make sure that you arrange the store very well giving attention to displays, aisles, and doorways.
- Stock up your store with your items. Organize all the items you have for sale. It is a good idea to keep the same things together in one shelf or table not only for your convenient but also for the customers to be guided when shopping in your store.
- Open your small dollar store and get good impressions from customers. Take note that your prices must be kept at one dollar all the time. However, from time to time, you can hold specials or discounts to customers. Also, make use of displays or signs so you can encourage more people to come in and visit your store. Serve the customers with a big and genuine smile all the time so you will have them for the rest of the life of your dollar store.
Even if your store is just a small one, it does not mean that it will do not much for you in the end. If you make sure all things are taken care of, you can expect that this store will bring in a lot of profits and more business opportunities for you. Once you managed your dollar store well, you can upgrade your store and even its services not only to your advantage but also to the benefit of your valued customers.