If you are preparing for a dollar store startup, spend a little extra time determining the right size for your stockroom.Â Many make the mistake of adding too much storage space for the size of the store they plan when they open a dollar store.Â Before you set the final dimensions of this space in stone, it is important to remember there really isnât a need to have too much space for this purpose.Â If you can afford the extra dollar store merchandise grow your dollar store profits by expanding the sales floor area instead.Â Â After all, there is generally lots of extra space for storage of excess merchandise if the right steps are taken.
During your dollar store startup you are in learning mode.Â This learning will continue even after you open a dollar store.Â A good portion of the learning is associated with learning about the dollar store merchandise that will be most in demand with your shoppers.Â It is about discovering the dollar store merchandise your customer must have available in your store at all times.Â Do not over-buy during this timeframe.Â Avoiding buying mistakes will help build dollar store profits for your business.
But donât stop after you start a dollar store and start to feel as though you are beginning to gain an understanding of the demands of your shoppers.Â Take the attitude that even though tying up your money in inventory is a necessity for success and profits, the goal is to maximize inventory turns.Â It is to adopt the attitude that your dollar store suppliers are not only your merchandise suppliers, but also your warehouse.Â Â Â
When you open a dollar store create space for the excess dollar store merchandise you purchase overhead on all gondola display fixtures.Â This should be completed during your dollar store startup so overhead storage space is available if and when it is needed.
During your dollar store startup determine the minimum amount of stockroom space required for back stock.Â Use that space as secondary storage.Â Make your primary excess inventory storage space directly overhead on your gondola fixtures.Â Not only will this provide the opportunity for the added dollar store profits associated with more sales floor space and reduced investment in inventory, but it also creates more sales as excess inventory can be viewed and pulled down into display areas whenever you walk the floor of your store.
To your success when you open a dollar store!