| Opening a dollar store comes with its fair share of | | | | rationalize there will be time to catch-up later. Yet, not |
| problems and challenges. At times it may seem as if | | | | having the valuable information provided by 'the |
| everyone, everywhere are all working against | | | | numbers' really limits your ability to properly manage |
| everything you are attempting to accomplish. Yet | | | | your business. You are making decisions without the |
| frequently the problem is not the actions of others, it is | | | | very data that is required. |
| the business owners themselves. For one reason or | | | | Mistake #3 - Improperly handling dollar store |
| another they take shortcuts or fail to take the required | | | | merchandise during low-inventory situations |
| actions to keep their store sales and profits climbing | | | | The ebbs and flows of the dollar store merchandise in |
| ever-higher. These mistakes certainly cost the | | | | your store will amaze you. Starting a dollar store puts |
| business sales. In the most extreme situations | | | | you into a high-volume business requiring solid |
| mistakes can literally contribute to the failure of the | | | | merchandise strategies. But don't stop there. When the |
| business. Read on as I present 4 mistakes to avoid | | | | on-hand inventory drops, it is time to apply techniques |
| when opening a dollar store. | | | | such as shortening peg hooks, spreading merchandise, |
| Mistake #1 - Becoming a hands-off owner | | | | and emptying your warehouse of all inventories. These |
| Opening a dollar store is an exciting time with many | | | | actions come together to help reduce the out of stock |
| tasks. Yet the excitement and pride of becoming a | | | | appearance you would otherwise have in your store. |
| business owner lead some to conclude they can step | | | | Mistake #4 - Not focusing on customers first |
| back and enjoy the rewards of owning a business. For | | | | What a mistake! Your customers represent the very |
| others it is the constant pressure associated with | | | | lifeblood of your business. Without them you have no |
| multi-tasking from one thing to another, or even the | | | | sales, no profits, and no business. Do everything |
| problems of running a business. Whatever the reason, | | | | possible to provide outstanding customer service to |
| stepping back too soon leaves your store in jeopardy. | | | | each and every shopper entering your store. This |
| It is like a rudderless ship in stormy seas. Take charge | | | | includes smiling, greeting shoppers, thanking everyone |
| and manage your business properly. | | | | for coming to your store, and being available to |
| Mistake #2 - Not keeping your books current | | | | answer questions when they arise. Don't forget to |
| There are so many things to do when you own a | | | | seek feedback from customers and then implement |
| business. For many one of the least exciting is | | | | the best feedback into your store operation. |
| associated with maintaining current books. They simply | | | | To your dollar store success! |