When you open a dollar store one of the ongoing challenges becomes continually reducing the costs associated with the business. One of the biggest impacts to overall profit comes from reducing the cost of goods sold. Even a 1¢ reduction across all of the items that are purchased during a year can amount to thousands [...]
Posts Tagged ‘Opening a Dollar Store’
Opening A Dollar Store – Reduce Cost-Of-Good-Sold
November 18th, 2008 
davidguide Are you an entrepreneur who is opening a dollar store? Then never lose sight of the importance of cost reduction to the success of your business. Cost reduction should take place from the day you start your planning. One of the most important areas for focus is the Cost-Of-Goods-Sold.
Cost-of-Goods-Sold which includes product, freight, shortages, product [...]
Opening a Dollar Store – Why Promote Your Store
November 18th, 2008 davidguide When opening a dollar store entrepreneurs are often overwhelmed by the large amount of traffic that appears as soon as the store opens for business. Those same entrepreneurs often become complacent and assume that since sales start so strong they will just continue to grow without effort being placed on marketing the business. Soon however [...]
Opening A Dollar Store – Assemble Your Due Diligence Team
November 18th, 2008 davidguide Are you considering opening a dollar store? If you are planning to purchase an existing store, there are some suggestions to consider. Every potential business buyer is strongly encouraged to start by identifying and utilizing a team of experts.
Your team of experts should include both an attorney and an accountant or CPA. The attorney should [...]
Opening A Dollar Store – Tips Regarding Low Profit Merchandise
November 3rd, 2008 davidguide One of the biggest challenges that faces the entrepreneur who is opening a dollar store is making a profit on the tight margins found with many products. In fact, almost all of the day-to-day necessities are in huge demand, yet they come with very little profit. The smart store owner knows that the balancing act [...]
Expect the Best When Opening Your Dollar Store, But Budget For the Worst
November 2nd, 2008 davidguide We’ve all heard it before; opening a dollar store is a sure bet. Much of this comes from inexperience experts and authorities who are mainly examining the results of the large dollar, discount retailers. For those who are opening their first store, don’t let this sway you into making a bad decision. Recognize that opening [...]
Posted in Budgeting Finance, Business Plan, Retail Store Set Up 
Tags: Opening a Dollar Store 
No Comments »Opening A Dollar Store – How Shopping Patterns can Help You
October 27th, 2008 davidguide Are you considering opening a dollar store? If so here is a secret that I learned the hard way. In fact this secret was learned only after totally stocking a new store from top to bottom and then finding that shoppers were unhappy with the way merchandise was displayed in the store. That customer dissatisfaction [...]
