If you are starting a dollar store you are about to discover the huge amount of money that goes into first purchasing your initial dollar store merchandise, and then all the replenishment orders that follow.Â In fact, your dollar store costs are almost driven by this one activity.Â It is extremely important to focus on merchandise cost reduction from the very first order you submit to your dollar store suppliers.Â This is so important that it is advisable to invest a little time every week in reducing these costs.Â Read on as I present one of the most important actions to take to reduce your dollar store costs.
It is easy to get into the habit of ordering and reordering your merchandise from the reliable dollar store suppliers you have dealt with previously.Â Are they willing to help reduce your dollar store costs by cutting their wholesale pricing or helping with freight?Â If not, keep your store stocked by ordering from them.Â However, start looking for an equally as reliable replacement offering better pricing on the products you seek.
Focus effort on locating new, lower cost dollar-store suppliers. When starting a dollar store, schedule an hour or more every week for this search every week.Â Start with Internet searches for potential new suppliers.Â Make a number of phone calls to new, potential suppliers every week during this scheduled time. You will find many great ideas by using directories of dollar store wholesale suppliers. Â
Be sure to attend dollar store trade shows.Â When starting a dollar store make a commitment to attend at least one per year.Â Not only will you have the opportunity to reduce your dollar store costs by purchasing products at trade show special prices, but you will also discover some new merchandise suppliers that turn out to be gems for your business.Â You will be able to meet them in person and you can actually examine the dollar store merchandise they sell.
When you do locate new potential dollar store suppliers always start with a small, experimental order.Â Make sure they ship exactly the dollar store merchandise you thought you purchased and their delivery time is reliable.Â A supplier focused on customer service is a great find.Â Also, check the pricing results in the savings you planned.Â If they meet your criteria, then submit a follow-up order to keep the merchandise rolling in.
To your success when starting a dollar store!