Saturday August 9, 2008
This website was created as an aid for those who want to start an independent Discount Retail Store, i.e.. Dollar Store, 99 Cent Store, Dollar Plus Store, Discount Party Store, Discount Gift and Greeting Card Store, etc.
This information is Free so please share the wealth, however any duplication in any form must be approved in writing by ( ME ) , I don’t want any individual or organization selling my research when they can get it for FREE. This is a non- sponsored site. I will not accept money to list your web site or company information. If any link is not working please report it, so it can be fixed. Also there are, links throughout the page and they are all included at the bottom.
Franchise vs. Independent
Franchises and Independent services for Dollar store (s), 99 cent store (s), Dollar Plus, Under a Dollar and other discount merchandise store (s). Will offer many services, there are several questions you need to ask yourself. What services do I want to do myself? What am I getting and how much control do I have? How much will it cost me? What is the upfront cost? Where is the company based at? Are they regulated by state or federal laws? For the (U.S.A. and Canada). You can check the Better Business Bureau. So please do not be fooled by those catch phrases like (Turn Key), with enough money anything is turn key. Or brand name that they can deliver ( see Product info ). Also check the contracts that each make you sign.
Franchises have a name, which you as a store owner can use for a fee, you will pay for that name, and also you will not have total control of the store, such as your inventory. When you place an order for your items, all will have to be ordered from the franchise. Also you may have to pay royalties for those sales of such. Some franchises may say that they have buying power.
Independent Service varies from company to company. Some companies offer the same and more than Franchise do, with out the franchise name and costs. And in this type of industry the store name has hardly or no effect at all. The U.S. and Canada are too Big of a country where a name has meaning unlike other franchises like the fast food industry. However Independent services are here today and gone tomorrow. Also ask them if once the store is set up, can you start buying from the wholesaler direct? And what support do you get. Will this cost extra? Some companies are International and are doing very well.
Location, Location, Location
This is very important, you must know the amount of traffic that will be going through the store, and also the demographics. Many companies can help you with this, some even have a license real estate broker, this is important, because those shopping strips and zone permits can get tricky and its better than having a company that work with a Real Estate agency, because now you have a 2nd company in the loop.
Financial HELP
For some great Business advice check out http://www.score.org/ they have been around. Also to get a loan you need a good Business plan, some companies will do this for free just to get your business.
Store layout and POS system.
The layout of a store is important. Did you know in a study 93% of people that walk into a store tend to go to right side ! and a lot of the extras purchase is just impulse buying. A lot of products you purchase will give you free stands and display material. Also to maximize profit, it’s good to have a POS System (Point of Sales), to see what will work for you. Remember it’s your store so you can set a minimum limit for credit card purchases, just by posting a sign at the cash register ( $20.00 minimum on credit card purchases ).
My email address is mailto:stterk@yahoo.com
ver. 3.1 copyright by Terk !!! 2006