How to Capitalize on a Stressful Economy when you Own a Dollar Store

<h1>How to Capitalize on a Stressful Economy when you Own a Dollar Store</h1>Author: <a title="Bob Hamilton" href="http://www.articlesbase.com/authors/bob-hamilton/15344.htm">Bob Hamilton</a> Those who own a dollar store can testify to the impact today’s economy has had on retail businesses.  Where once shoppers abounded, for many it has now become a challenge to generate more traffic and to grow dollar store sales.  As the field of competitors shrinks those remaining are aggressively working for their piece of the sales pie.  It is the smart dollar store owner who realizes steps must be taken to first maintain current sales, and then to grow sales to new levels.  Even more important is to take the steps necessary to build sales at a time when shoppers are seeking bargains such as those offered by dollar stores.   In this article I present 3 tips to help you capitalize on today’s marketplace. Tip #1) Stay customer focused.  If there is only one tip you plan to use when you own a dollar store, this is the one.  Now is the time to provide outstanding service to each and every person entering your store.  Greet them with a smile, ask if they need help, and thank them for coming into your store.  But don’t stop there.  Ask if they found everything they were seeking.  Ask if there were items they wanted and could not find; then add those to your selection as the feedback grows. Tip #2) Build sales with low cost bargains.  Purchase high quality, yet low cost dollar store merchandise.  Bring in more bargain priced surprises.  Since it is becoming a huge challenge to maintain dollar store sales and profits, start looking for new, different sources of dollar store merchandise for your store.  Look to closeout and liquidation companies as potential sources for new and different dollar store merchandise for sale to you at only pennies on the dollar. Tip #3) Make it fun to shop in your store.  Hold more events.  Give away freebie items.  Add frequent shopper rewards and discount programs.  A small investment to make these happen will differentiate your store from all other dollar stores.  That same small investment will help motivate shoppers to return more frequently.  It is a small investment that will help build your dollar store sale levels at a time others are struggling to stay even. Each of these tips will help make your store stand out from the crowd.  Each will add more excitement to shopper visits.  They combine to create a store shoppers will want to come to; and of course if you carry the right dollar store merchandise, you will see your dollar store sale levels grow.  Give these tips a try.  You will be glad you did. To your success when you own a dollar store!About the Author: Learn how you can Start your own <a href="http://www.openingadollarstore.com/">Dollar Store Business</a>. Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.
Article Source: <a href="http://www.articlesbase.com/">ArticlesBase.com</a> - <a href="http://www.articlesbase.com/small-business-articles/how-to-capitalize-on-a-stressful-economy-when-you-own-a-dollar-store-1410665.html" title="How to Capitalize on a Stressful Economy when you Own a Dollar Store">How to Capitalize on a Stressful Economy when you Own a Dollar Store</a>

Those who own a dollar store can testify to the impact today’s economy has had on retail businesses. Where once shoppers abounded, for many it has now become a challenge to generate more traffic and to grow dollar store sales. As the field of competitors shrinks those remaining are aggressively working for their piece of the sales pie. It is the smart dollar store owner who realizes steps must be taken to first maintain current sales, and then to grow sales to new levels. Even more important is to take the steps necessary to build sales at a time when shoppers are seeking bargains such as those offered by dollar stores. In this article I present 3 tips to help you capitalize on today’s marketplace.

Tip #1) Stay customer focused. If there is only one tip you plan to use when you own a dollar store, this is the one. Now is the time to provide outstanding service to each and every person entering your store. Greet them with a smile, ask if they need help, and thank them for coming into your store. But don’t stop there. Ask if they found everything they were seeking. Ask if there were items they wanted and could not find; then add those to your selection as the feedback grows.

Tip #2) Build sales with low cost bargains. Purchase high quality, yet low cost dollar store merchandise. Bring in more bargain priced surprises. Since it is becoming a huge challenge to maintain dollar store sales and profits, start looking for new, different sources of dollar store merchandise for your store. Look to closeout and liquidation companies as potential sources for new and different dollar store merchandise for sale to you at only pennies on the dollar.

Tip #3) Make it fun to shop in your store. Hold more events. Give away freebie items. Add frequent shopper rewards and discount programs. A small investment to make these happen will differentiate your store from all other dollar stores. That same small investment will help motivate shoppers to return more frequently. It is a small investment that will help build your dollar store sale levels at a time others are struggling to stay even.

Each of these tips will help make your store stand out from the crowd. Each will add more excitement to shopper visits. They combine to create a store shoppers will want to come to; and of course if you carry the right dollar store merchandise, you will see your dollar store sale levels grow. Give these tips a try. You will be glad you did.

To your success when you own a dollar store!

Learn how you can Start your own Dollar Store Business.
Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.

Rate this Article:

0 / 5 stars - 0 vote(s)

Re-Publish

Article Source: http://www.articlesbase.com/small-business-articles/how-to-capitalize-on-a-stressful-economy-when-you-own-a-dollar-store-1410665.html

Article Tags: dollar store sale, own a dollar store, dollar store merchandise

Related Videos
Related Articles
Ask / Related Q&A

Play

Samsun Application Store - Review

Play

Sony Reader Daily Edition Review

Play

Photography Gift Stores

Play

Storing Fresh Herbs

Play

Using the iPhone Application Store

Latest Small Business Articles
More from Bob Hamilton

Cheap Wholesale Jewelry

By: Winni | 26/12/2009
For your jewelry business, or for an add-on to an excising shop in a complimentary product area, or for a niche internet site you have in mind, you may be searching for the best cheap jewelry wholesale available.

Tips for Selecting the Best Merchant Account Provider

By: Chris Martin | 26/12/2009
Once you have determined your merchant services needs, start looking into costs and fee structures. The first piece of data you should examine is the discount rate attached to the merchant services plan. This rate is the percentage of each transaction amount that will be paid to your credit card processing company.

Simple Credit Card Processing Solutions

By: Chris Martin | 25/12/2009
Touch tone technology can be used either in or out of a company’s office. This technology allows credit cards to be processed over any touch tone telephone or cell phone. Some companies may prefer to utilize point of sale software, which can be integrated with most computer systems or networks. POS software allows the business to manually enter credit card information and receive acceptance notification via a phone line and modem.

Last chance - investment allowance ends 31 December

By: Dana Bennett | 25/12/2009
Last chance - investment allowance ends 31 December If you run a small business with a turnover below $2 million, you only have a few weeks left to take advantage of the Government's 50% investment allowance. The same deadline also applies to the 10% investment allowance for businesses with turnover above $2 million. As you no doubt already know, for small businesses the investment allowance gives you a 50% extra deduction on assets that cost more than $1,000 (GST ex) assuming th...

Managerial or Cost Accounting

By: geetha | 25/12/2009
There are two types of accounting one is Financial Accounting and the other one is Managerial Accounting or Cost Accounting. “Financial Accounting” mostly deals with projecting the financial status of a company to the shareholders, creditors outside an organization. So this can be considered to be more useful for a larger organization.

Essential steps to starting a small business

By: Chukwuemeka Fred Agbata Jnr. | 24/12/2009
Taking steps to starting a small business will certainly be determined by your readiness and your willingness to take the risks involved. The most important thing here is to know the kind of business you are venturing into and how much capital is involved in the starting-off processes. Some of the essential steps to starting a small business are highlighted below;

Why Do Stickers Look Beautiful And Attractive?

By: Sara Criss | 24/12/2009
Stickers have become the most popular products in the world of printing today. These are generally used for an extensive range of purposes including marketing, business promotion, charity campaign, leisure, social, economics, cultural, political, and religious purposes.

Women Business Grants Getting Approved Easily Everyday

By: Gregory G Grundl | 24/12/2009
Women going into businesses are increasing steadily every year. Women own more than 9 million businesses in the U.S. today. Financing of new and existing women owned businesses is greater than ever. Women business grants are much easier to get if you have a good software system to guide you through the process.

Be Selective about Tasks Left Undone During your Dollar Store Start Up

By: Bob Hamilton | 24/12/2009 | Small Business
In an attempt to move forward and meet your planned opening date you may have decided to leave some tasks hanging incomplete until your store is open and operating. After all, there will be time later; right? Wrong. Those who know how to open a dollar store know the truth. You will be busier than ever once your store is open and operating.

How to Open a Dollar Store with the Right Dollar Store Fixtures Layout

By: Bob Hamilton | 24/12/2009 | Small Business
Are you trying to understand how to open a dollar store? If so you are probably working to gain as much information about the dollar discount industry as possible. You are likely examining everything you can locate about the specifics of preparing and then opening your store. One of the critical steps you may have discovered is associated with the final layout of the dollar store fixtures in your store.

Never Lose Sight of 1st Impressions when you Open a Dollar Store

By: Bob Hamilton | 24/12/2009 | Small Business
It is really amazing the impact small things can have to the overall success of your dollar store start up. Who could ever imagine how dollar store sale levels can be influenced by the small things like store cleanliness, organization and even the first impression a prospective customer has as they walk through the front door.

3 Powerful Steps to Help Achieve your Dollar Store Sales Goals

By: Bob Hamilton | 24/12/2009 | Small Business
When you start a dollar store do not allow the growth of your sales to slow down. Take sales building steps during your start up. Keep customer traffic numbers increasing. Grow the average sale size for your store. Take steps to continually grow sales to ever-higher levels.

5 Important Steps When you Outsource for your Online Business

By: Bob Hamilton | 19/12/2009 | Outsourcing
Outsourcing should be one of the secrets to making money online. In this article I present 5 steps when outsourcing for your online business.

Don’t Jeopardize Internet Marketing Success with Information Overload

By: Bob Hamilton | 19/12/2009 | Online Business
When the goal is to learn everything required to achieve Internet marketing success you are working to learn everything about an entire business industry. It is similar to going to college for years and years to gain a business degree and then a specialty. You must take the time to turn this gigantic industry into something more manageable unless you have many years to invest before starting.

Using an Outsource Resource Made Easy

By: Bob Hamilton | 19/12/2009 | Outsourcing
Let’s remove the mystery surrounding the use of outsourcing in your business. This isn’t a process that takes lots of training or experience to successfully use. In fact, the results achieved using your first contractors can be every bit as powerful as the tenth time you make use of a contractor.

6 Easy Tips About Selecting the Right Outsource Resource

By: Bob Hamilton | 19/12/2009 | Outsourcing
To maximize your success, there are certain steps you need to take to choose the right contractor. In this article I present 6 easy tips about selecting the right outsource resource.