Dollar Store Franchise Information – How To Get Started
Dollar Store Franchise Information How To Get Started
In many neighborhoods, whether large or small, the dollar store has become the new shopping center for household goods, clothing, even food. The dollar stores of today offer excellent value and even consumers who have cut back on spending everywhere else often return to the local dollar store again and again. If you're looking for a solid and rewarding investment, launching your own dollar store may be the perfect fit for you. However, you don't have to go it alone; check out dollar store franchise information to find the easiest way for you to own and run a local dollar store.
Why Consider a Franchise?
A franchise in its simplest terms is a way for you to work with an established brand and proven marketing plan to launch your business as quickly and easily as possible. When you choose a franchise and sign their contract, you are agreeing to follow the basic requirements of that brand, like using specific signs and logos, carrying certain items in stock and honoring whatever marketing promotions the parent company creates. What you get in exchange for joining the franchise and paying the associated fees, is access to the substantial support and proven marketing power of the multi-million dollar parent company.
Some dollar stores that are currently offering franchise opportunities include:
Family Dollar
Dollar Tree
Your Dollar Store With More
Dollar Castle
Preparing to Open a Dollar Store
As with any business, you'll need to be prepared in order to be successful. Two key elements in good preparation are having enough funding for your venture and a well-thought out, written business plan. If you don't have any experience with writing business plans, you can easily get some expert advice to help you. Both, the Small Business Administration (SBA) and the Senior Corps of Retired Executives (SCORE) offer free advice and assistance to budding entrepreneurs. You can find these companies and related service providers in your neighborhood by contacting your local Chamber of Commerce.
Once you've got your business plan in place you'll need to work on funding. You'll need to research each company's dollar store franchise information for the amount they'll actually require in start-up funds, but you can expect to need a minimum of $50,000 for this type of business. That may seem like a huge amount of money, however, with a good quality business plan you should be able to get a low-interest loan to cover the majority of your costs.
/>Besides going to banks to get the funds for your business venture, you should also talk to the SBA. They operate several programs that provide low-interest loans for start-up companies; they are especially helpful for businesses owned by women and minorities. I must offer a strong warning though; avoid dealing with any company that is charging a fee for information about free government sponsored business grants. Save your money because these grants don't exist. All government programs geared to small business owners are based on tax credits and loans.
After you have done all the research and chosen a company, you'll have to let the franchise know you'd like to open a branch in your local area. This is important as the company may have a limit on how many stores may serve an area, the distance between stores or other restrictions that must be considered. If a franchise opportunity is available in your chosen, you will be assigned an account manager to walk through the entire process from store set-up, inventory purchase and successfully launching, providing valuable dollar store franchise information.
One last word of caution, before you sign the franchise contract it is important to have your attorney review it. Each franchise has requirements and wording unique to their particularly company, so it's critical you understand all the different contract clauses before you sign anything.
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