For those who own a dollar store that's small in size the impact of skyrocketing dollar store costs means dollar store profits are much more difficult to achieve. While a small store may have seemed like the right choice when first opened, now the need to aggressively grow sales is bigger than ever. Yet the room required to add merchandise in support of higher dollar store sale levels just isn't there for those with small, limited space. That little store presents a challenge. Fortunately relocation isn't necessarily the only solution. There are other considerations before looking to rent additional space or even a new location. Read on as I present 4 tips to build smaller store sales.
Tip #1) Tighten up the rows - Tighten up the displays. There is a fine balance when taking this step. Make things too tight and shoppers will find it very difficult, if not impossible to move quickly throughout the store. You'll likely lose some dollar store sales as a result. Start by examining the percentage that actually use the shopping carts in your store. This becomes the percentage that will be most affected by your decisions. Consider purchasing smaller carts to replace full size carts if you currently use them in your store. No matter what; if you own a dollar store be sure you are going to gain enough space to warrant any narrowing of store aisles.
Tip #2) Add display shelving to all unused areas in your store. Really look for opportunities. Just make sure every move really makes sense for your store and your shoppers. Examine opportunities to replace temporary displays with permanent gondola shelving. Next examine replacing card racks with spinners and then adding regular gondolas. While there are some dollar store costs, this opens up more permanent display area for your business. If the space isn't working all the time, it has dollar store costs attached. That is currently space that is not regularly making you money and dollar store profits.
Tip #3) Raise the height of your gondola shelving. It might have been nice to start with 4-foot tall gondolas, but now it's time to raise the height. If you are able to add 2-feet in height to your 4-foot shelves you in essence have added 50% to your display area. In some cases you will be able to minimize cost by purchasing only extensions, braces and shelves to achieve your goal. If you must replace the entire unit, look for used fixtures rather than buying new. This will minimize costs and it will mean dollar store sales and dollar store profits in the future.
Tip #4) Stack up merchandise - even clear to the ceiling for some lighter items. Add top shelves to the gondolas in your store. Then start displaying merchandise on top. When you own a dollar store this may be something you are hesitant to try. Yet there will be added sales levels even though the items are stacked so high. Long term that means added possibilities for dollar store profits.
To your success when you own a dollar store!
Find out how you can open your own
dollar store business.
Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.
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