Business Overview

A dollar store is a type of general store that limits its prices. It can sell anything from discounted household goods to party supplies. While the name suggest that nothing can be sold for over a dollar, some stores will make exceptions for certain products while keeping the vast majority of stock at a lower price.

Who is this business right for?

Owners should want to provide budget-conscious shoppers with a safe, spacious, and convenient place to shop. The dollar store can be a community resource that plays a vital role in maintaining a community and helping it thrive.

What happens during a typical day at a dollar store?

The duties of the owner and staff are all tied in with the daily operation of the store. Stocking, selling, managing employees, ordering inventory, and marketing are all tasks that will need attention on a regular basis. Owners should also consistently be looking for new opportunities and avenues to find additional stock at the right prices.

What is the target market?

The target market is anyone who appreciates a good deal. In certain communities, this may mean catering to those at the lower end of the income spectrum. However, the market is open to people of all earning brackets.

How does a dollar store make money?

Dollar stores charge a mark-up on the items they sell. They will typically get inventory by buying large quantities of stock at wholesale prices. By buying products at a deep discount, owners can afford to sell them for a dollar and still make a profit.

What is the growth potential for a dollar store?

Dollar stores are big businesses in many parts of the US. Many people need a store near them where they can buy necessities and luxury items that they wouldn’t have the opportunity to buy at a conventional store.