| One of the biggest challenges associated with starting | | | | a specific product, or whether it us across your entire |
| a dollar store is maintaining the correct inventory level. | | | | store. |
| Even more important is maintaining the correct | | | | In many cases the answer will be as simple as there |
| inventory level of the right dollar store merchandise. It is | | | | has been a sales decline for a specific product group. |
| easy to end up with thousands of dollars tied up in | | | | In other cases it will be a mismatch between your |
| inventory that is comprised of everything your | | | | merchandise selection in the buying process. You have |
| shoppers are not buying. In the meantime you are | | | | selected products that just don't appeal to your |
| faced with a lack of cash to replenish the hot selling, | | | | shoppers. When starting a dollar store this is a mistake |
| profitable items. At the same time you begin to see | | | | you just plain don't want to make. It signals a lack of |
| cash flow dwindle and paying the monthly expenses | | | | understanding of the needs and wants of your |
| become ever more difficult. | | | | shoppers. |
| Don't allow this to happen to your dollar store business. | | | | When starting a dollar store be sure you quickly |
| Maintain good control over your dollar store | | | | become aligned to your shoppers. Know the dollar |
| merchandise inventory. Manage the sales of the hot | | | | store merchandise they want and need. Then provide |
| sellers and non-sellers in your store. Never allow | | | | those very products in your store. If inventory begins |
| unplanned growing inventory to remain unaddressed. | | | | to climb, be sure to take a hard look at what has |
| Develop a plan of attack to address inventory | | | | happened. Then be sure to quickly take the right steps |
| management across specific departments or even a | | | | to reduce inventory back to planned levels. Even if it |
| few specific items if a problem begins to develop. | | | | takes a major reduction in the selling price of |
| Start by taking a step back to collect and analyze | | | | non-selling merchandise, get that merchandise out of |
| what is happening. Be sure the problem isn't as easy | | | | your store. Breaking even on unpopular items and then |
| as over-buying merchandise when sales can not | | | | investing your money in hot selling merchandise is the |
| support the required sales level. If that's not the issue | | | | best answer. Just remember to avoid repurchasing the |
| move on to examine a possible decline in sales. If this | | | | non-selling items as well. |
| is the problem be sure to look at the details regarding | | | | To your dollar store success! |
| whether it is a sales decline in a single department, only | | | | |