Are you about to start opening a dollar store? If so never underestimate the importance and potential that growing your business can have on long-term success. Invest the time to develop a plan to grow your business beyond the sales that come to that single store. Also invest the time to develop a plan for quickly and painlessly selling large quantities of merchandise.
After opening a dollar store you will find that you have large quantities of some items. They might be there for many reasons, but the bottom line is that you have cash invested in merchandise that needs to be sold quickly. Locate sources to sell those large quantities of overstock and slow selling items. There will also be times when larger quantities of items are purchased than can be sold by your store alone, again another outlet for sales is required. Finally there may be a situation in which a quick source of cash is required to handle a major unexpected bill.
Opening a dollar store requires some creativity in dealing with challenges such as dealing with overstock merchandise. Often there will be liquidators or distributors in the local area who will accept larger quantities of merchandise. If they won’t buy your overstock items outright work to establish an exchange for merchandise that will sell in your store. As a last resort you might also consider consigning the merchandise with one of these businesses. Be sure that the business is trustworthy, the compensation for selling is understood and that there will be immediate payment when sales are made.
When opening a dollar store be sure to look to other dollar and discount stores as an outlet for higher quantities of merchandise. Often the merchandise that you have in high quantities will be exactly the merchandise that these other retailers are seeking to buy.
No matter the reason, if you are opening a dollar store it is worthwhile to establish a means of liquidating overstock items. While discounts may be required to make the sale, those discounts are better than having a stock room that is filled with obsolete merchandise that won’t sell at any price.
To Your Dollar Store Success!
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