There are so many questions and so little time to research for the answers. Many are easy to handle. However, many important questions drive other decisions about your new business. One of the biggest questions you’ll have when starting a dollar store business in today’s environment is whether to open a dollar-only store, or whether to go to a dollar-plus store format. The answer to that one question drives startup actions ranging from finding the best location for your store, to what dollar store merchandise to stock in your store. Of course, there is also the concern about how to communicate the store format to all shoppers so they are hesitant to add items to their final purchase.
Price tags are necessary if you are selling dollar store merchandise over one dollar. If you are carrying dollar store merchandise priced above $1, then be sure you use price tags on all items. Shoppers are not going to hunt down someone to ask about the price of items in your store. Make it easy for them to see the price. If you fail, watch as sales just do not occur for your business.
Build trust and sales by adding in-store signs to merchandise. Reinforce pricing by adding signs to all end cap displays, and other key locations throughout your dollar store business. It’s worth adding signs on walls to communicate your format as well. Do everything you can to make your format clear and the exact price of items clear as well.
Do everything possible to make your shoppers aware of your store format when you open a dollar plus store. Use signs and price tags to reflect pricing. Build the concept into your business name. Even though you may think the shoppers understand, you will find many have questions. Also, make sure your employees are saying hello and asking for question whenever they are on the sales floor. Many shoppers will decide not to make a purchase rather than asking if they are unsure of the price of dollar store merchandise in your store.
To your dollar store business success!
Find out how you can open your own dollar store business.
Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.