5 Dollar Store Success Secrets

One of the challenges faced by those who own a dollar store is staying on track with the proven actions that have resulted in success for their business.  With all the different aspects of the business tugging at them for time and attention, for many the core success actions that were initiated during the dollar store start up soon drop by the wayside.  Don’t allow yourself to fall into the same trap with your dollar store business.  Stay focused on success.  Maintain the tried and true actions no matter how easy it might be to let them fade away.  In this article I present 5 dollar store success secrets that should always be supported.  These actions represent an important part of the entire success formula for your business.

#1) You must continually build dollar store sales volume for your business.  
When you own a dollar store it is important to establish sales goals for your store.  The first milestones should be established during your dollar store start up.  Then as one sales goal is achieved, new and higher goals need to be established.  Actions to achieve each of your sales goals must also be defined and implemented.

#2) Offer only quality dollar store merchandise in your store.  
While inferior dollar store merchandise might be available for lower dollar store cost of goods, the few pennies in lower price simply isn’t worth the decrease in sales you are likely to face.  Shoppers are looking for good quality at reasonable prices.  Offer a few name brand dollar store merchandise items spread throughout your store.  Then fill in the rest of the selection with good quality products.

#3) Focus on dollar store cost reduction from your dollar store start up onward.  Those who own a dollar store will be challenged to reduce dollar store costs for as long as they own their store.  Focus on payroll, rent and cost of goods sold first, as these typically represent your highest spending categories.  In fact the dollar store costs associated with dollar store merchandise will always be your best opportunity to really impact cost for your store.  

#4) Keep your shoppers happy.  
That will keep them coming back to your store.  They will return more frequently.  They will spend more while visiting.  This starts with the shopping atmosphere you create.  Next enters carrying the exact products your shoppers need and want.  Finally comes providing outstanding customer service to each and every person entering your store.

#5) Never allow the quality of customer service to diminish.  
When you own a dollar store make customer service the number one focus for every person working in your store.  Make sure to provide solid orientation and basic training regarding good customer service practices.  Then recognize and reward those who put their training to work for your business.

To your dollar store start up success!


By Anonymous

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