How to Select a Dollar Store Location

A dollar store franchise is an excellent business opportunity. One key factor to the success of a retail sales business is location. Most dollar stores that operate in the United States don't advertise. They don't need to advertise because their customers know what they sell and at what price. Ensure the success of your dollar store by selecting a location that gets the traffic to come to you.

Instructions

Difficulty: Moderate

1. Read the franchiser's Universal Franchise Offering to determine if you must use their site location services (for a fee) or if you have the right to select your retail location using their guidelines and your preferences.
2. Review local business news to learn about current and planned development in your area. Positive developments that can improve traffic and your success include residential construction, convention facilities and new business or commercial space.
3. Get neighborhood demographics from the United States Census Bureau. The average income of today's dollar store shopper is over $70,000 per year. Find out where your customers live, work and shop.
4. Survey other business owners about customer traffic near potentially suitable properties. The ideal dollar store location already has high traffic businesses in or near the same location.
5. Consider properties within 10 to 30 miles of your potential customers. Estimate your preferred maximum daily commute time before selecting potential locations.
6. Contact commercial real estate brokers about available properties. Consult your chamber of commerce to get information about any business tax incentives in the cities you are considering.
7. Compare parking space, ease of access from major roads, traffic, leases, services, utilities and amenities before selecting your location. Confirm the daily auto and public transportation traffic estimates with your local state highway department engineers.

Tips & Warnings

• It takes more time to contact shopping center property management companies directly than to have a broker do the legwork.