Ride the Coattails of Your Neighbors when Opening a Dollar Store

Give me a break! It's hard enough opening a dollar store without paying attention to the neighboring businesses that surround you. After all, every new store needs to quickly grow dollar store sale levels if they are to survive. Every new store is also in a race to achieve dollar store profits as quickly as possible. So who has the time to be looking and watching what everyone else is doing? The smart dollar store owner is the one who is watching and investigating. The smart dollar store business owner is the one who goes out and meets the neighbors and works to coordinate promotional efforts with them.

Initially after starting a dollar store business you will find your store is generating little traffic of its own. Likely your dollar store sale levels are almost scary they are so low. And your dollar store profits probably seem like the unachievable dream. If you held a grand opening event there are likely a few shoppers coming back specifically because of your store. Sure there will also be a few who notice your business as they are driving by. However, initially a high percentage of your traffic is there simply because they do business with a close by retailer.

Ride the coattails of your neighboring retail businesses? Yes; that's exactly what you should be doing when first opening a dollar store. Select a few close-by companies that draw your target demographic and start looking for their advertising and promotions.

Better yet work to gain access to the management of these retail operations and then ask about upcoming events. Investigate actually coordinating sales and other events in the future. No matter what, use these events as the opportunity for you to gain increased traffic to your store. Of course, higher traffic will mean increased dollar store sale levels for your dollar store business.

When opening a dollar store use the promotions of local retailers as a means of making others aware your store exists. Hold visible sidewalk sales in conjunction with their events. Be sure there is a sign-holder standing and pointing the way to your store. Above all be sure your employees are well trained and provide memorable customer service to the many first time shoppers who stop in to see your store. Of course while they are in your store they will pick up a few items to purchase. Your dollar store sales and your dollar store profits will both increase as a result. Give it a try.

To your dollar store business success!

Want the best ideas to earn from your dollar store business? Check out "Tactics to Add Streams of Income to Your Dollar Store Business" at www.OpeningADollarStore.com.
Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.