By IvyLee Rosario
When considering opening a dollar or discount store, there are a few things that you need to keep in mind to ensure the success of your business. Michael Sheena, Director of Operations at International wholesale highlights what it takes to thrive in the discount industry. âToday, owning a store is not the same as it used to be. Customers are spoiled with options, âSheena said. “So if anyone is going to open their own store, they have to realize that it’s not just ‘I’m going to open a dollar store, everything costs 50 cents and I’m going to sell it for a dollar “it is not that simple.
A few things to remember when starting out in the dollar and discount industry are location and knowledge of the business. âThey need to have a better understanding of the business before they open up. You’re not just going to open up and the day you open your doors, people will just start to come in and buy everything, âSheena said. âThe better the location, the more traffic you will get. The better your store is organized, the more people will remember it. There are a lot of things you can do to get people to come back to your store. To keep customers coming back to your store, you must always have items in stock that sell quickly, have aggressive pricing, and provide the highest quality customer service.
If you are looking to break into this industry, Sheena advises starting with a discount store rather than a dollar store. You will get a better return on your investment and you will not be limited by the dollar price. In addition to building your store outside, you should also be careful about what products you plan to carry. International Wholesale focuses on consumables, namely food, health and personal care, cleaning products and disposables. âThese are the items that bring people to dollar stores,â Sheena said. âPeople come over there for these items, especially the cleaning products. If the store is open and it lacks categories or doesn’t look good, it won’t be as appealing to customers.
New store owners should also keep an eye out for suppliers who will provide them with the right products and skills to be successful in their business. âOur website is very easy to navigate,â Sheena said. “I think we’re the only people in the industry that you can actually get a shipping estimate from our website, you can pay for your order on our website, you can file a claim on our website, everything what you need as a store owner is correct there. ” Suppliers should also help you prepare orders, Sheena said, find the right products to sell in your specific store, and keep you up to date with upcoming new products.
âYou have a chance that people will come and be impressed with your store. If you don’t have the right mix of products the first time people come there, âsaid Sheena,â if nothing impresses them, they don’t need to change the way they shop. We want to change the way people shop.