Many who start a dollar store never stop to examine the dollar store profits they make on their dollar store merchandise until well after they are in business. Their store layout is based on what they or someone else perceive as the best for their circumstances. Yet in todays competitive retail environment this may not be the right approach to maximize profits. Since profit is the number one motive for most business owners to start and operate their business, why not focus on profits as you prepare your store layout? If you are already in business, consider making tweaks in merchandise location to help grow sales of the highest profit items in your store. Just the one simple action of focusing merchandising on the popular, highly profitable merchandise in your store can have a huge impact on your business profits.
Start by evaluating the profitability of the dollar store merchandise carried in your store. Focus on the standard items you carry as a mainstay of your business. Examine the cost of goods for each item to determine where your greatest profits are generated. This will take some time and effort, but every good manager wants to know the cost of goods sold in their store.
When you start a dollar store work and rework your store layout to place the everyday items offering the highest dollar store profits right out where they will be seen. Place high profit departments like greeting cards and party goods in the line of travel immediately after customers enter your store. But there is more. In addition to prominently placing your highest profit items in their department, use end caps, bulk lobby displays, and proper signage to highlight them. Take the little steps to make shoppers aware these items are in your store.
Add hot selling, higher profit margin dollar store merchandise to your best selling impulse merchandise locations. This is another step that yields higher profits for your business. While not all merchandise fits this plan, rotating high profit margin items into impulse locations like around cash registers and in your store lobby adds variety to your store while generating extra sales and profits.
Dont cut down on the consumables and other popular dollar store merchandise as a part of this strategy when you start a dollar store. Items used everyday may not provide high dollar store profits, but they do create traffic for your business. These are the items that people need and will come into your store time and again to purchase. Even though profit margins are tight, they must be in-stock to bring shoppers back more frequently.
To your success when you start a dollar store!
About The Author
Learn how you can Start your own Dollar Store Business at www.openingadollarstore.com. Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.
There are so many occasions that call for a nice greeting card. For many people receiving a greeting card that shows how much someone cares, or wishes them well can be as appreciated more than any gift. The flowers may die within a week, but a greeting card can be saved forever. The greetings cards industry is big business, with the average greeting card costing over $2.00 these days. That can add up to a lot of money over the course of a year. Anniversaries, birthdays, Mother’s Day, graduation, not to mention holiday cards. Most of us find ourselves sending dozens of greeting cards every year.
The more economical way to send greeting cards is to create your own at home, using your computer and printer. A package of card stock can be purchased fairly inexpensively and can be used to make hundreds of greetings cards.
Another advantage of making your own greetings cards at home is the level of personalization you can achieve. There are a number of free software programs that you can download that have hundreds of different templates that can be personalized any way you like. Most of these programs are very easy to use.
One of the most popular ways to personalize greetings cards is to add your own photograph. This can be especially great for holiday greetings cards. You could gather your entire family together for a “photo shoot” then use that shot to create personalized greetings cards to send to all your family and friends.
The best of the free greeting cards creation software also have templates for creating matching gift tags and even envelopes, for a real pulled together look that would cost a lot more in the store.