There comes a time for every small business opportunity owner when something needs to happen to significantly grow sales. Whether it is to help offset slow sales or poor margins for their existing business, or to diversify and then grow business sales to the next level, there is really no time to wait. The time has come to make a move. Those who open a dollar store often end up with the same challenge. They must find a new and different means of building their business. Changes ranging from adding new and different dollar store merchandise to changing the store format are all options. In this article I look at sales growth from a different angle. In this article I present 6 diversification strategies to grow sales.
Strategy #1) Telephone cards ? Many who open a dollar store find simply adding calling cards to the selection offered in their store can significantly increase dollar store sales and profits for their store.
Strategy #2) Check cashing and money orders ? In certain areas the addition of check cashing and money order services can be a real winner. It can be the perfect addition to meet customer needs.
Strategy #3) Full-sized party department ? For those with outstanding greeting card and party department sales this option is really a no-brainer. Just expand an already high-performing department to include everything found in the typical party store. This offers opportunities to grow dollar store sales and profits with an already well-known department. Yet the once small party department becomes a standalone store within a store.
Strategy #4) Coffee shop ? If you have the excess room available this small business opportunity might be perfect. Adding a coffee or snack shop might be the perfect move to add dollar store sales and profits for your business.
Strategy #5) Full-fledged discount store ? With the availability of overstock, liquidation and closeout merchandise you might examine designating part of your store to deeply discounted general merchandise. Or possibly you are ready to make the move and complete a format change for your entire store.
Strategy #6) Mailboxes, postal and shipment services ? In some locations this might be the perfect complement to your current dollar store business.
Each of these offers a modification of a small business opportunity to add to the mix in your store. Thoroughly investigate before moving forward. Each comes with some special requirements. Be sure to check requirements for additional licensing or inspections before starting. Be prepared to fund these as if they were mini-start-up businesses. However the big advantage you will have is the constant flow of traffic you have already coming into your business. And of course when you make the right choice for expansion you will see dollar store sale levels increase for your store as well.
To the success of your small business opportunity!
About the Author
Don?t make the mistakes other make when they start a dollar store. Visit http://www.openingadollarstore.com for an expert?s secrets.
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