Small Dollar

Small Business Advantages when Opening a Dollar Store

For those opening a dollar store there is often worry and concern about the competition.  The growth of huge national dollar/discount chains, with what seems to be bottomless pockets for financing, strikes fear into many.  These concerns and the risks attached are certainly valid.  Yet there are many reasons being a small player in a big, growing market isn’t all that bad.  In fact, for those who know their own strengths and the strengths associated with being a smaller dollar store retailer, there is an opportunity to leverage those strengths and achieve greater levels of success. In this article I will examine some of the advantages of being a small business.

To start, small businesses are capable of providing levels of customer service the big players can only dream about.  Virtually everyone in retailing realizes the importance of providing outstanding customer service.  Yet, even though this is clearly understood the larger the company the less the control over the actions of their individual managers and employees.  While the corporation and its top management may be unequaled in their commitment to customer service, all it takes is one manager or employee at an individual store to wreak havoc.    

As a small dollar store business owner you have the opportunity to take advantage of this in your business.  Hire for competency in communication and customer service.  Train every new employee regarding expectations associated with customer service.  Train every new employee regarding how to turn those expectations into extemporary service.  Become a role model of outstanding customer service.  Reward those employees who deliver great customer service.

When opening a dollar store you will discover small dollar store businesses are well positioned to quickly respond to market changes.  While there are many advantages to being a big corporation, one area where there is a gap in most cases is quickness of response.  As a result, when changes take place you can quickly respond while your big competitors will take longer.  You don’t need major corporate approval or to wait until the directive comes down.  You can collect the data once you recognize there is a change.  Then you can immediately formulate and implement a response that strengthens the market position for your dollar store business.   

No matter whether it is new buying trends and bringing in the best dollar store merchandise, hot new dollar store merchandise coming to the market, or almost anything else, your dollar store business is well positioned to quickly take advantage.  

When opening a dollar store make the most of the strengths associated with being a smaller business.  Continually be on the lookout for opportunities.  Buy the right dollar store merchandise to keep your shoppers excited and coming back more frequently.  Continually respond to marketplace changes to keep dollar store sales and dollar store profits humming right along.  Above all else, treat your customers the right way all the time.  Make them feel as if your store is really their store. Do everything to make each shopper feel special every time they walk through the front door of your dollar store business.

To your success when opening a dollar store!

About the Author

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

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