You may have an existing business which is not doing too well or you simply want a change of environment. Possibly it is not an option to simply close down and simply walk away. Instead, you are considering the options to change the format of your business. Specifically, you are thinking about changing your business over into a dollar store.
If you have a small grocery or convenience store, then this can easily be an option to consider. Not only would the swap to dollar store be manageable, but operating your own dollar store business can have many other benefits too.
First of all, it would bring new types of shoppers into your store. These discount shoppers will be looking for a bargain, so you can help them save more money. If you provide good deals on the dollar store merchandise you offer, and a great customer experience, customers will be much more inclined to return in the future. The more returning customers you have, the more you can depend on sales to increase.
When you change your retail operation to a dollar store business, you will have to switch the type of merchandise you offer. This means finding a whole new set of dollar store merchandise suppliers. If you previously operated a retail store, then you know how important your suppliers are to your success.
Therefore, you need to make sure that you find great suppliers to buy your dollar store merchandise from. Not only do you want dollar store items at fair prices, but you want them delivered in a timely manner too. Find suppliers that will help support speedy delivery of the items you purchase. It is even better if they help you save on freight costs with prepaid freight, freight caps, or even help negotiating freight.
The type of merchandise you carry is very important. You want to keep core consumables stocked in your store since your new target market will be looking to routinely buy them. These are items which are vital for every household such as detergent, soap, paper products, and beauty products. If you do not carry them in your new dollar store, then you will definitely be in trouble.
In addition to core consumables, your new dollar store business should also look to sell newly released products, seasonal goods, and hot impulse items. You will have to keep your eyes and ears open in order to find out about them. You can come across them being advertised on television and radio. It is also a good idea to go to trade shows occasionally since are a great way for you to find out about new products to offer in your store.
It is not that difficult to change your retail business into a dollar store. Get new fixtures, signs, and dollar store merchandise suppliers and you will be well on your way.