How to open a Dollar Store

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By waiting4rain
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open a Dollar Store

Dollar Stores are very popular and almost recession proof. If you want to open a small business of your own, consider opening a dollar store.

Difficulty: Moderate

Instructions

Things You'll Need:

Storefront
Merchandise
Local licenses and permits
Tax ID Number

Step 1

The location of your dollar store is not as important as you might think. Everyone wants a bargain so you may do really well, even off the beaten path. If you're going to rent a retail space for your dollar store, choose a place that has high traffic - busy street - and parking. Locating near a laundromat or grocery store are also good.

The size of your dollar store can be very small to quite large. If you think you won't be able to fill the store with merchandise at first, plan on creating temporary walls to make the space smaller until you can afford more inventory. A large open, and mostly empty store is not good for making people think they should shop at your store.
Step 2

Shelving can be elaborate and expensive or very simple and inexpensive. I used to shop at a dollar store that had no shelves. All the merchandise was displayed on tables. The tables were the fold-up kind that are about 3'x6'. Some of the merchandise was actually still in the boxes it was shipped in with the top cut off so you could see inside. Hand printed signs hung from the ceiling over different products to help you find what you wanted. It was very effective.
Step 3

Buy the merchandise through a reputable dollar store supplier. Google 'dollar store supplier' to find wholesalers online. To get the best deal you may have to buy a pallet of dollar store items. A large truck will bring the items to your store but you'll have to be on hand to offload the merchandise. Ask before hand if they will lower the pallet to the ground - some will and some won't and some charge extra. If it's on the ground you and your helpers can hand cart it in batches to your storage area.
Step 4

You will need licenses and permits to open a store in most locations. Ask your local government what sort of license you need to open a retail dollar store. Also ask how to get a Tax ID # so that you can buy wholesale. Many wholesalers won't sell to you at all unless you have the Tax ID number.
Step 5

Plan ahead and order holiday items so that you can take advantage of major shopping days. If you have high visibility on a busy street you may be able to get away with store front advertising only.