How to Open a Dollar Store Business

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To open a dollar store business, check out the logistics of the business, decide whether to buy an existing business or open a brand new store, develop a marketing plan, and research information on the business. Know how to appeal to your customers before opening a dollar store with advice from a business professor in this free video on small business.

Part of the Video Series: How to Open a Small Business
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Video Transcript

Hi, my name is John Niemira. I wanted to talk to you today about opening a dollar store business. Dollar store businesses nowadays are becoming very very popular. I'm not sure if it's the economy or if just people really want to get a good deal on what they buy. I'm sure it's a little bit of both. Opening a dollar store business, you want to first check in to the logistics of the business. Are you going to buy and existing dollar store business and just expand it? Or are you going to start fresh from the ground up? I have found out in my experiences, buying an existing business can sometimes be better, can cost you more in the beginning but you have a basic customer. You have a business that's been established in there. It's probably a business that needs expansion and cleaning up, needs a new marketing plan and maybe some new funds put in to it. But which either way you decide to go, whether you're going to start fresh or buy existing, know the market, know your customers, know what your competition is doing. How are you going to know that stuff, getting on line and doing some research, seeing a business broker, seeing what these businesses have been doing, who they're catering to, what their strength and weaknesses and what can you bring to a company like this, to expand it, to make it successful. Biggest thing I can tell you with my experience is know your business, know your company and know your customers. If you need anymore information on this subject or any other subject in the business field, my email address is jniemira@gmail.com.

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