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3 Steps to Stand Above the Crowd When You Are Opening a Dollar Store

Those who are first opening a dollar store often wonder how they can survive when their competitors have the advantage of already being in business. They fear the competition will receive all the shoppers and the accompanying dollar store profits. Many realize to survive they must have a business plan that includes strategies to make their store special. They must take action to create a store that stands above the crowd. They realize this provides an advantage in the local marketplace when this can be accomplished. To find out more, read on as I present 3 steps to stand above the crowd.

Step #1) Actually go out and examine the competitors in your marketplace. While in their store begin to really look at their stores. Begin to ask yourself questions such as:

• What are the things in their stores that make it a pleasant experience for shoppers?
• What are the things that detract from the shopping experience while shoppers are in the store?

It is worth the time to actually stop after each visit and make notes about what you have discovered. Remember, maximizing your dollar store profits depends on the discoveries you make and the actions you take.

Step #2) While in the stores examine which of the features in their store you want to incorporate in your store. There will be a core set of things that you will want to incorporate into your store. This should include the most important things that set your competitors apart. This isn’t about ‘copy exactly’ - rather it is to incorporate the strengths of those businesses into the overall environment of your store. Once you’ve completed this step don’t forget to include these features into your core business plan and the actual set-up of the store.

Step #3) Finally it’s time to look at all the things that detract from the shoppers’ experience while in your competitors’ stores. These are your opportunities to stand above all of your competitors when opening a dollar store. For each feature that detracts in your competitor stores, you need to define a specific feature in your store to take that negative and turn it into a positive. While this takes a little time and effort, you will end up with a store that doesn’t just meet the competition, but stands apart from the pack - and is positioned to earn dollar store profits.

Your visit to competitor stores will take time and effort. Developing your unique plan will take even more time and effort. Yet if you are opening a dollar store this effort can literally make the difference between earning dollar store profits or not.

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