Location is More Important Than Ever When You Start a Dollar Store

It is all about finding the perfect location when you start a dollar store. We've all heard it before. However in today's tough environment those words couldn't be truer. This is not the time to make compromises when it comes to making your final decision and signing the lease on a location. In fact in today's environment there are some criteria that can no longer fall down the list as you examine potential locations. The price you pay if you do allow yourself to make the wrong concessions could be business failure.

If you are about to start a dollar store this is a time to consider some things that weren't nearly as important in previous times. For example, cost conscious shoppers are concerned about the convenience of the location. Many will be hesitant to spend the extra money to drive to an out of the way location where your business sits alone. They prefer a location that is quick and inexpensive to get to. Even better is a location where they can take care of several errands all at the same time.

In today's marketplace it is imperative that your store be easily seen from the street. When you first open a dollar store you will quickly discover the fact that passers-by must be able to easily see your store. There are only seconds for this to happen. Thus it is also important to have signage that is visible and easily spotted by prospective shoppers.

Costs associated with repairs and start-up can become a show stopper in today's retail business environment. Make sure to negotiate not only the costs, but also the timing for work completion. After all, every day your grand opening is delayed after the targeted date, the greater the amount of lost sales and costs for overhead will be to you.

This is a whole new business world. While many big businesses and credit grantors are tightening up on their standards, you must find a landlord or property manager who recognizes the perils of starting a new business today. They must be willing to negotiate with you, and help you initially with smaller or deferred payments as you start a dollar store. The deal needs to be fair for both sides, but it will take some compromises to achieve the equity you seek. Fortunately there are many companies that recognize the situation and are willing to do what is required to bring a good tenant into a currently vacant space.

To your dollar store success!

Bob_Hamilton

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