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We’ve all heard that location, location, location is the critical factor when you start your dollar store business. There is a list of critical ingredients that define the perfect location. For many that list includes the requirement that there be a major retailer as the anchor. Yet with changing economic times, what was once the right major retailer may not remain in that position. In fact, it may become a marketplace in which only those retailers who have established themselves as that final destination location will continue to thrive and grow.

The time is right for the intelligent retailer to develop strategies that will turn their store into a traffic magnet. That transition starts with inventory. Build a product inventory that makes your store stand apart from the crowd. A fully stocked store is step number one in making your store the destination that people want to visit. Be sure that there is a good selection of products across every product category. Even more important is to make sure that adequate inventory is maintained so that your store never runs our of the basic commodity products customers routinely purchase.

Don’t compromise on the quality of the products that you sell. While there might be an extra five or ten percent profit in lower quality, always ask yourself if that extra profit is worth selling inferior products. In fact a good policy is not to sell anything that you wouldn’t use yourself. Never sell anything that you can not wholeheartedly stand behind when asked about it.

A neat, clean and well-lit store will make shopping a pleasure for every shopper who walks into your store. Implement operating procedures that ensure the store is always clean with merchandise picked up and properly placed on display shelves. Replace burned out lighting immediately. Add lighting to dark areas of your store. Set your goal to maintaining a store that appears ready for an industry magazine cover photo at all times.

Who can forget customer service? In fact the cornerstone of success is outstanding customer service. Well trained, friendly, smiling employees who focus on always providing the best in service to every customer who enters your store will bring shoppers back. There is nothing more frustrating to shoppers than to wait for help in answering a question. After waiting several minutes they are informed the person they waited for cannot answer even the most basic of questions. Every employee should know the basics about merchandise locations, pricing, and selection.

Establishing the goal to make your store the shopping destination for every shopper is a long term strategy. However, with a strong commitment and focused effort this is a very realistic goal. The changes you make to transition your dollar store business can position it to thrive no matter what the changes in the shopper preferences and patterns in the future.

To your dollar store business success!

Are you interested in opening you own dollar store? Check out “A Beginner’s Guide to Opening a Dollar Store at http://www.OpeningADollarStore.com

Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer. http://www.marketingsuccesscenter.com