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Sales management is a key activity when opening a dollar store. Prior to actually opening your store specific sales goals should have been established. As the store is opened and business operations grow your actual sales should be compared to those projected sales. Hopefully the result will be higher than anticipated sales. But what about situations when sales fail to meet projections? What happens if sales are lower than planned?

The best place to start is with the assumptions that were used to establish the projected sales figures. Examine each of the assumptions and make sure it actually works in the real business environment. At times those assumptions won’t all be valid after actually opening a dollar store.

If your business assumptions were incorrect, make the appropriate adjustments and then change your business operation to match the actual situation. This is generally fairly quick and easy since the incorrect assumptions will be obvious after actually opening a dollar store. In most cases this is not where the problem will be found however.

Next examine the location and the traffic at that location. In some cases this will be the source of the problem. However neither of these should emerge as the problem if investigative due diligence was properly performed before selecting the location for opening a dollar store. It is still important to double check that there isn’t new or different data to be considered however.

Generally when opening a dollar store there will be other specific issues driving a sales shortfall. Those issues may include the lack of key merchandise, an inadequate advertising/ marketing program, poor customer retention, new competition, or other underlying business issues. The correct issue needs to be identified and than appropriate fixes must be identified and implemented.

Are you opening a dollar store? If so take the time to establish sales goals. Monitor actual results against those projections. If sales are less than targeted take the time to investigate and fix the issues that are causing sales shortfalls.

To Your Dollar Store Success!

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