If you have a retail business you are always looking for methods for increasing your average sale. The reason is pretty simple, if you have 500 sales a week, and your average sale is
$50, you will gross $2500 a week.
But if you can increase your average sale to $100, and your number of sales stay the same, you will now gross $5,000 a week.
Assuming you are working on a 50% profit margin, your net profit will increase from
$1,250 a week, which is a respectable figure, to $2,500 per week. At this rate, you will earn $130,000 a year. Formerly you were only earning $65,000 a year, so it definitely makes a great difference if you double your average sale.
What if you tripled your average sale?
You would then earn an annual profit of $195,000.
So how do you triple your average your average sale?
You need to give your customer's an overwhelmingly good
reason to spend more money.
Here are some of the most powerful tools you can use to increase your average sale.
Sales Tip #1
Sell complimentary accessories. If your customer is buying a dress shirt, offer him
matching cufflinks, neckties, and pants. Or if you sell non apparel items, such as a cell phone,
offer your customers a car charger, cleaning kit, a Bluetooth headset, and a cell phone case.
The possibilities are only limited by your imagination.
Sales Tip #2
Offer warranties and service agreements. How about a suit store offering a cleaning service? The suit store can make a deal with a local dry cleaner to provide cleaning for its customers. If the customer buys the cleaning offer, the store would give the customer a receipt to
have his suit cleaned, and the dry cleaner would receive a discounted payment from the suit store.
Car dealers make a great deal of money by selling extended warranties and service agreements to their customers. You can implement the same strategy by modifying the offers to your product line.
Donny Lowy runs http://www.closeoutexplosion.com an online wholesale business that focus on brand name prodcuts. He can be reached at 718-389-5502 All of his products are priced 50-90% below wholesale.
You can also search for more wholesale products athttp://www.wholesalequest.com
Discover how to make money in the closeout and wholesale business, visit my personal blog:http://www.wholesalecloseoutsecrets.blogspot.com
Article Source: http://EzineArticles.com/?expert=Donny_Lowy
Tuesday, May 27, 2008
Technology In Retail
Technology adoption in retail and its benefits to SMEs & LS Retail Suite a probable solution
The Retail Market is in a state of explosive growth. One needs to see the mushrooming of malls and shopping complexes in the metros and small towns in India to grasp the enormity of this growth. For many years the retail industry in India has been disorganized and consisted mostly of single- store outlets, a few retail chains and a large number of the friendly-neighborhood "Kirana" shops. These outlets had pre-historic supply chains, inefficient inventory management, very few were customer focused and most were in the small to medium category. The sudden spurt in demand and a greater awareness amongst buyers for quality products and services, created a vacuum that could only be met by an organized retail sector, with fine-tuned supply chains, efficient inventory management and a totally customer focused view that was alien to India.
One of the key factors in achieving an organised and efficient retail operation is the use of technology as an enabler. IT is the key enabler to improving customer satisfaction, operational efficiencies and by extension profitability. A typical pan-national retail operation would have multiple regional warehouses, offices and retail outlets. In such an operation how does the headquarters know the daily turnover at each of its outlets, how does it know which products are selling the most in which region at which outlet, how does one store know if a stock-out item in its own inventory is available at another store location for whom it is slow moving item. Most of these issues can be solved by the appropriate use of technology. The ability to have current information on a real time basis and analyzing that data for better forecasting are some of the payback provided by technology.
Retailers all across the country believe that shrinkage due to inventory recording, handling and administrative errors costs retailer's millions. In an intensely competitive, cost-conscious industry, appropriate IT and telecommunications infrastructure can make a vast difference, and can result in improved productivity and major cost savings through more accurate supply chain forecasting and better inventory management.
For example, given a situation where a retailer wants to increase its loyalty customer base, an organization with relevant IT systems in place, has a ready customer database updated at every purchase, which can be used to send mailers or promotional catalogues. Another example where IT can be beneficial is a store management system that alerts out-of-place or stock-out items. An in-store system that uses magnetic strips or barcodes or RFID to monitor actual versus intended product location on the floor or in the stockroom. By using RFID-encoded shelf edge labels with embedded shelf readers, a grid could be set up for verifying planogram compliance for standard shelving and promotional displays, with a corresponding alert for misplaced items sent to store personnel. Big payoffs could be realized for frequently moved and misplaced items, such as apparel, shoes, CDs and DVDs.
Appropriate investment in technology can impact the business positively through improved operational efficiencies, increased profitability, happier customers and providing a competitive advantage.
LS Retail is an end-to-end retail solution that covers everything from POS to back office and head office. The setup can range from a single store with one POS to a complex, multi-store environment that integrates with your overall business operation.
Landsteiner Strengur is one of the principal companies developing retail and hospitality solutions in the international arena with over 10,500 stores in 130 countries, translated into 30 languages, and is used by customers like IKEA, Adidas, NAAFI, Debenhams, Pizza Hut and Booths Supermarket. An internationally proven retail software solution like LS Retail can provide:
Increased store efficiency
Improved Data Integrity
Streamlined inventory control
Reduced shrinkage, pilferage and losses
Comprehensive business analytics
Reduced paperwork
POS for Multi-tier Retail
Complete integration with backend systems
With LS Retail Suite of solutions, localized for the Indian Industry, one can reduce the total cost of ownership & inventory, improve profitability, recognize current consumer trends and prepare one for changes in both, business and customer behaviour. LS Retail provides the ability to make up-to-the minute decisions with fewer mistakes. LS Retail can.
Article Source: http://EzineArticles.com/?expert=Hukum_S_Negi
The Retail Market is in a state of explosive growth. One needs to see the mushrooming of malls and shopping complexes in the metros and small towns in India to grasp the enormity of this growth. For many years the retail industry in India has been disorganized and consisted mostly of single- store outlets, a few retail chains and a large number of the friendly-neighborhood "Kirana" shops. These outlets had pre-historic supply chains, inefficient inventory management, very few were customer focused and most were in the small to medium category. The sudden spurt in demand and a greater awareness amongst buyers for quality products and services, created a vacuum that could only be met by an organized retail sector, with fine-tuned supply chains, efficient inventory management and a totally customer focused view that was alien to India.
One of the key factors in achieving an organised and efficient retail operation is the use of technology as an enabler. IT is the key enabler to improving customer satisfaction, operational efficiencies and by extension profitability. A typical pan-national retail operation would have multiple regional warehouses, offices and retail outlets. In such an operation how does the headquarters know the daily turnover at each of its outlets, how does it know which products are selling the most in which region at which outlet, how does one store know if a stock-out item in its own inventory is available at another store location for whom it is slow moving item. Most of these issues can be solved by the appropriate use of technology. The ability to have current information on a real time basis and analyzing that data for better forecasting are some of the payback provided by technology.
Retailers all across the country believe that shrinkage due to inventory recording, handling and administrative errors costs retailer's millions. In an intensely competitive, cost-conscious industry, appropriate IT and telecommunications infrastructure can make a vast difference, and can result in improved productivity and major cost savings through more accurate supply chain forecasting and better inventory management.
For example, given a situation where a retailer wants to increase its loyalty customer base, an organization with relevant IT systems in place, has a ready customer database updated at every purchase, which can be used to send mailers or promotional catalogues. Another example where IT can be beneficial is a store management system that alerts out-of-place or stock-out items. An in-store system that uses magnetic strips or barcodes or RFID to monitor actual versus intended product location on the floor or in the stockroom. By using RFID-encoded shelf edge labels with embedded shelf readers, a grid could be set up for verifying planogram compliance for standard shelving and promotional displays, with a corresponding alert for misplaced items sent to store personnel. Big payoffs could be realized for frequently moved and misplaced items, such as apparel, shoes, CDs and DVDs.
Appropriate investment in technology can impact the business positively through improved operational efficiencies, increased profitability, happier customers and providing a competitive advantage.
LS Retail is an end-to-end retail solution that covers everything from POS to back office and head office. The setup can range from a single store with one POS to a complex, multi-store environment that integrates with your overall business operation.
Landsteiner Strengur is one of the principal companies developing retail and hospitality solutions in the international arena with over 10,500 stores in 130 countries, translated into 30 languages, and is used by customers like IKEA, Adidas, NAAFI, Debenhams, Pizza Hut and Booths Supermarket. An internationally proven retail software solution like LS Retail can provide:
Increased store efficiency
Improved Data Integrity
Streamlined inventory control
Reduced shrinkage, pilferage and losses
Comprehensive business analytics
Reduced paperwork
POS for Multi-tier Retail
Complete integration with backend systems
With LS Retail Suite of solutions, localized for the Indian Industry, one can reduce the total cost of ownership & inventory, improve profitability, recognize current consumer trends and prepare one for changes in both, business and customer behaviour. LS Retail provides the ability to make up-to-the minute decisions with fewer mistakes. LS Retail can.
Article Source: http://EzineArticles.com/?expert=Hukum_S_Negi
Three Accessories Your Retail Clothing Store Must Have
Retail clothing is a cut throat business. Your store needs to operate at peak performance to capture market share in your area. Employees perform thousands of small tasks each day, so it is crucial streamlined procedures are in place. Organizing you store so employees can work at maximum efficiency is equally important. These three tools can keep your store running like a well oiled retail machine, and prevent chaotic work flow. Here is how this modest investment can return thousands of dollars.
The hanger stacker is an absolute essential for any retail clothing store. This device is the best way to store extra hangers around your store. Its unique shape can accommodate all types of clothes hangers, and stores them in a way that prevents tangling. Most models can be purchased for less than $20. Place them at discreet locations around your store so employees will never have to go far to find or replace excess hangers. With hangers readily available your staff can remain on the sales floor by eliminating trips to the back room to retrieve and store hangers. Another great spot is behind the cashiers' counters where clothes hangers are constantly piling up from customer purchases. With a hanger stacker you can move hundreds of hangers anywhere your store with ease.
If you are maximizing your stores capacity you probably have garments hung on walls and storage racks in high places. A hanger retriever can save employees hours of time over the course of the day by providing quick access to those hard to reach places. Hanger retrievers can be purchased between $18 to $20 dollars. An adjustable model gives a reach between three and five feet. With a hanger retriever there is no need to clutter your store with step stools and ladders.
The scourge of most fashion outlets is piles of clothes under garment racks. Clothes get bumped as customers move up and down the aisles and can easily fall off a hanger. Items lying on the floor can get walked on, dirty and damaged. This gives an atmosphere employees constantly have to pick up and re-hang items. The use of hanger covers can turn this into a thing of the past. Hanger covers are foam or rubber strips that can be slid on or stuck to any clothes hangers and increase the hanger garment friction ratio. An investment of 15 cents each can save your store thousands of dollars in damaged clothing, and provides a cleaner store presentation. Employees will save hours of labor and have more time to spend with customers.
About the Author: Ron Maier is the President of Everything Hangers, a leading online provider of clothes hangers. For more information, please visit http://www.everythinghangers.com.
Article Source: http://EzineArticles.com/?expert=Ron_Maiers
The hanger stacker is an absolute essential for any retail clothing store. This device is the best way to store extra hangers around your store. Its unique shape can accommodate all types of clothes hangers, and stores them in a way that prevents tangling. Most models can be purchased for less than $20. Place them at discreet locations around your store so employees will never have to go far to find or replace excess hangers. With hangers readily available your staff can remain on the sales floor by eliminating trips to the back room to retrieve and store hangers. Another great spot is behind the cashiers' counters where clothes hangers are constantly piling up from customer purchases. With a hanger stacker you can move hundreds of hangers anywhere your store with ease.
If you are maximizing your stores capacity you probably have garments hung on walls and storage racks in high places. A hanger retriever can save employees hours of time over the course of the day by providing quick access to those hard to reach places. Hanger retrievers can be purchased between $18 to $20 dollars. An adjustable model gives a reach between three and five feet. With a hanger retriever there is no need to clutter your store with step stools and ladders.
The scourge of most fashion outlets is piles of clothes under garment racks. Clothes get bumped as customers move up and down the aisles and can easily fall off a hanger. Items lying on the floor can get walked on, dirty and damaged. This gives an atmosphere employees constantly have to pick up and re-hang items. The use of hanger covers can turn this into a thing of the past. Hanger covers are foam or rubber strips that can be slid on or stuck to any clothes hangers and increase the hanger garment friction ratio. An investment of 15 cents each can save your store thousands of dollars in damaged clothing, and provides a cleaner store presentation. Employees will save hours of labor and have more time to spend with customers.
About the Author: Ron Maier is the President of Everything Hangers, a leading online provider of clothes hangers. For more information, please visit http://www.everythinghangers.com.
Article Source: http://EzineArticles.com/?expert=Ron_Maiers
How to Start A Boutique - Running A Boutique Advice
Running a boutique successfully is all about getting customers and keeping them loyal to your boutique. The following tips will help you do just that.
• Sell quality products: The products you sell should be cost effective. People should feel that the clothes you sell are worth their money.
• Sell at fair price: The price of your products should have an edge over your competitors.
• Offer Excellent Customer Service: This is very important than it appears. Customers prefer friendly shops. Select and train your staff in their business so that they increase customer satisfaction.
An effective marketing campaign is absolutely essential for successful running of a boutique. Plan your advertising to suit the requirements of the target market that your boutique caters to. Marketing means incurred expenses. Make sure they are cost effective.
Professional account maintenance would help you see the financial aspects concerning boutique running more clearly. You can know the ways money go. You would be able to identify revenue-generating measures. Proper account keeping would help you understand and hence avoid financial pitfalls.
An estimation of future expenses and getting ready for them is very important. A festival season may ask for more stock. You need money to purchase that merchandise. So planning your finance well in advance is a must for running your boutique without loss.
Even regular expenses like payrolls needs advance readiness in terms of cash. Expect such requirements and identify the resources. Always be ready with minimum cash both for the usual and unexpected expenses.
As a boutique owner you should know how to handle your daily cash flow. Daily sales record will help you know how well you perform. Running a boutique successfully needs an eye for detail and implementation of some policies. Here are they to help you running a boutique.
• Stock for the Season: Every season has its own market and demands. Identify them and stock your boutique accordingly. Festival season means more sales. Be prepared for that with extra stock
• Avoid Over Stocking: Excess stock means imminent loss. So avoid that. Estimate future sales from past records and buy your merchandise accordingly. Proper amount of stock is very essential for the smooth running of a boutique
Some simple aspects may bring greater success when running a boutique. Get to know them if you really wish to running your boutique profitably.
• Arrange for community events like fashion shows. Even sample sales would attract customers to your boutique
• Maintain customers' mailing list and inform them regularly of the latest fashion trends, special discounts etc.
• Control even minor expenses like electricity
• Be alert to the latest fashion trends.
• Design and maintain an attractive interior. Make regular changes to the looks of your shop while maintaining the feel-good atmosphere.
Running a boutique successfully is as professional as any other business. It needs proper planning and being prepared for it well in advance. With a little knowledge and a little effort you can be running your boutique successfully.
Did you Find this " How to Open a Boutique" Article Helpful? Would you like additional advice on How to Open your very own Boutique? Then You Must Visit http://www.openboutiqueguide.com
http://www.openboutiqueguide.com -learn how to open a clothing boutique. This step by step guide teaches how to start a successful boutique. Discover the secrets of successful shop owners. Start today.
Article Source: http://EzineArticles.com/?expert=Brian_Cliettte
• Sell quality products: The products you sell should be cost effective. People should feel that the clothes you sell are worth their money.
• Sell at fair price: The price of your products should have an edge over your competitors.
• Offer Excellent Customer Service: This is very important than it appears. Customers prefer friendly shops. Select and train your staff in their business so that they increase customer satisfaction.
An effective marketing campaign is absolutely essential for successful running of a boutique. Plan your advertising to suit the requirements of the target market that your boutique caters to. Marketing means incurred expenses. Make sure they are cost effective.
Professional account maintenance would help you see the financial aspects concerning boutique running more clearly. You can know the ways money go. You would be able to identify revenue-generating measures. Proper account keeping would help you understand and hence avoid financial pitfalls.
An estimation of future expenses and getting ready for them is very important. A festival season may ask for more stock. You need money to purchase that merchandise. So planning your finance well in advance is a must for running your boutique without loss.
Even regular expenses like payrolls needs advance readiness in terms of cash. Expect such requirements and identify the resources. Always be ready with minimum cash both for the usual and unexpected expenses.
As a boutique owner you should know how to handle your daily cash flow. Daily sales record will help you know how well you perform. Running a boutique successfully needs an eye for detail and implementation of some policies. Here are they to help you running a boutique.
• Stock for the Season: Every season has its own market and demands. Identify them and stock your boutique accordingly. Festival season means more sales. Be prepared for that with extra stock
• Avoid Over Stocking: Excess stock means imminent loss. So avoid that. Estimate future sales from past records and buy your merchandise accordingly. Proper amount of stock is very essential for the smooth running of a boutique
Some simple aspects may bring greater success when running a boutique. Get to know them if you really wish to running your boutique profitably.
• Arrange for community events like fashion shows. Even sample sales would attract customers to your boutique
• Maintain customers' mailing list and inform them regularly of the latest fashion trends, special discounts etc.
• Control even minor expenses like electricity
• Be alert to the latest fashion trends.
• Design and maintain an attractive interior. Make regular changes to the looks of your shop while maintaining the feel-good atmosphere.
Running a boutique successfully is as professional as any other business. It needs proper planning and being prepared for it well in advance. With a little knowledge and a little effort you can be running your boutique successfully.
Did you Find this " How to Open a Boutique" Article Helpful? Would you like additional advice on How to Open your very own Boutique? Then You Must Visit http://www.openboutiqueguide.com
http://www.openboutiqueguide.com -learn how to open a clothing boutique. This step by step guide teaches how to start a successful boutique. Discover the secrets of successful shop owners. Start today.
Article Source: http://EzineArticles.com/?expert=Brian_Cliettte
How To Open A Clothing Store - Open Up A Clothing Store That Makes A Profit
Profit is the ultimate that is desired of any business venture and a clothing store is no exception. Here in this article you will get to know how to open up a clothing store that makes a profit.
Profit Factors
Profit is dependent on three major factors. They are:
1. At what price you buy
2. At what price you sell
3. To How many you sell
If you get to know to how handle these three important factors successfully you could open up a clothing store that makes a profit.
At What Price You Buy - Purchase Price
The price at you buy your merchandise has to be really competitive. You should do a kind of market survey on who offers what and at what price. You should also consider from where you need to buy. Because merchandise may be cheaper at a far place and the transport cost may outweigh the benefit of lesser price. Also before you open up, you must try to get wholesale license and small business license. Only then you would be able to buy from merchandisers who demand a license. In this way you would be able to settle for best deal. The price at which you buy your merchandise has to be reasonably competitive. Then only you can sell clothes at a fair price that would appeal to the consumers.
At What Price You Sell - Selling Price
Fixing a fair selling price is very important if you want to make profit out of your clothing store. Once you decide to open up a store you should be able to price the clothes you sell. If you want sales to happen fair and competitive pricing is must. If the selling price is more undoubtedly the profit is more. But that profit would be only on paper as a mere number! Too much selling price will not effect any sales at all. So if you want people to buy from the cloth store you open give much consideration to pricing policies and fix a fair and reasonable selling price.
To How Many You Sell - Your Customer Base!
Building a strong customer base is the key to success of any business. By the time you open, you should know how to build a customer base. Here are some ways to help you do just that.
• Employ staffs that are warm and friendly. Also they should be knowledgeable about the clothes they sell. Kind and well-informed employees is an asset to your cloth store. Try to acquire that!
• Start up Advertising: When you open up a clothing store, do not compromise on attention grabbing grand opening with a lot of advertising. This is how you make your presence felt among the consumers.
• Maintain a mailing list: You may be surprised that about 80% of a business usually comes from 20% of the mailing list. So it is essential that you maintain mailing lists and you communicate regularly to those in the lists.
If you could sell clothes at reasonable price to a huge customer base you could confidently open up a clothing store that makes a profit.
Did you Find this " How to Open a Boutique" Article Helpful? Would you like additional advice on How to Open your very own Boutique? Then You Must Visit http://www.openboutiqueguide.com
http://www.openboutiqueguide.com -learn how to open a clothing boutique. This step by step guide teaches how to start a successful boutique. Discover the secrets of successful shop owners. Start today.
Article Source: http://EzineArticles.com/?expert=Brian_Cliettte
Profit Factors
Profit is dependent on three major factors. They are:
1. At what price you buy
2. At what price you sell
3. To How many you sell
If you get to know to how handle these three important factors successfully you could open up a clothing store that makes a profit.
At What Price You Buy - Purchase Price
The price at you buy your merchandise has to be really competitive. You should do a kind of market survey on who offers what and at what price. You should also consider from where you need to buy. Because merchandise may be cheaper at a far place and the transport cost may outweigh the benefit of lesser price. Also before you open up, you must try to get wholesale license and small business license. Only then you would be able to buy from merchandisers who demand a license. In this way you would be able to settle for best deal. The price at which you buy your merchandise has to be reasonably competitive. Then only you can sell clothes at a fair price that would appeal to the consumers.
At What Price You Sell - Selling Price
Fixing a fair selling price is very important if you want to make profit out of your clothing store. Once you decide to open up a store you should be able to price the clothes you sell. If you want sales to happen fair and competitive pricing is must. If the selling price is more undoubtedly the profit is more. But that profit would be only on paper as a mere number! Too much selling price will not effect any sales at all. So if you want people to buy from the cloth store you open give much consideration to pricing policies and fix a fair and reasonable selling price.
To How Many You Sell - Your Customer Base!
Building a strong customer base is the key to success of any business. By the time you open, you should know how to build a customer base. Here are some ways to help you do just that.
• Employ staffs that are warm and friendly. Also they should be knowledgeable about the clothes they sell. Kind and well-informed employees is an asset to your cloth store. Try to acquire that!
• Start up Advertising: When you open up a clothing store, do not compromise on attention grabbing grand opening with a lot of advertising. This is how you make your presence felt among the consumers.
• Maintain a mailing list: You may be surprised that about 80% of a business usually comes from 20% of the mailing list. So it is essential that you maintain mailing lists and you communicate regularly to those in the lists.
If you could sell clothes at reasonable price to a huge customer base you could confidently open up a clothing store that makes a profit.
Did you Find this " How to Open a Boutique" Article Helpful? Would you like additional advice on How to Open your very own Boutique? Then You Must Visit http://www.openboutiqueguide.com
http://www.openboutiqueguide.com -learn how to open a clothing boutique. This step by step guide teaches how to start a successful boutique. Discover the secrets of successful shop owners. Start today.
Article Source: http://EzineArticles.com/?expert=Brian_Cliettte
Steps To Finding Dollar Store Business Merchandise Suppliers
Many successful dollar store business owners make it a practice to continually look for new merchandise suppliers for their store. But where do you look to find these new product suppliers? And how can you be sure that they are legitimate companies that will perform as advertised?
They recognize that the dollar discount supplier network is fluid. While there are many well established suppliers, there are also many distributors and suppliers that come and go in the industry. Yet locating a new supplier that performs well can very positively impact the bottom line for the business.
As with all industries, the internet is the place to start. A few searches will yield pages and pages of potential suppliers. Check out their websites, make contact with those of interest and conduct telephone interviews. Ask questions about how long they have been in business. Ask for references. Check out those references. As a dollar store business owner it is your job to be sure that all companies you deal with are legitimate.
Attend industry trade shows to discover potential suppliers. Shows are held throughout the year in locations across the United States and Canada. Visit with prospective suppliers in person. This is your chance to see what they have to offer. This is your chance to conduct face to face interviews with those of interest to you. But don't stop there. Check references before making a final decision, especially when dealing with new companies.
Consider giving prospective new suppliers a smaller 'test' order before committing the time and money required for a large order. By slowly increasing the size of the orders over time you are providing an opportunity for the supplier to demonstrate that they deserve your trust. If they falter during this testing period you have less at risk and can walk away knowing that you did give them a chance to earn your business. If, on the other hand, they perform as expected, you have lost only a little time in the testing process before entering a full-sized order.
You also should always be concerned about the quality of the products that your suppliers provide. Check them out thoroughly before you buy! Follow up and always hold them to those same standards.
To your dollar store business success!
Do you want to learn more about opening a dollar store? See Insider's Guide to Opening a Dollar Store at http://www.openingadollarstore.com.
Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.
http://www.rescue-me-now.com
http://www.MarketingSuccessCenter.com
Article Source: http://EzineArticles.com/?expert=Bob_Hamilton
They recognize that the dollar discount supplier network is fluid. While there are many well established suppliers, there are also many distributors and suppliers that come and go in the industry. Yet locating a new supplier that performs well can very positively impact the bottom line for the business.
As with all industries, the internet is the place to start. A few searches will yield pages and pages of potential suppliers. Check out their websites, make contact with those of interest and conduct telephone interviews. Ask questions about how long they have been in business. Ask for references. Check out those references. As a dollar store business owner it is your job to be sure that all companies you deal with are legitimate.
Attend industry trade shows to discover potential suppliers. Shows are held throughout the year in locations across the United States and Canada. Visit with prospective suppliers in person. This is your chance to see what they have to offer. This is your chance to conduct face to face interviews with those of interest to you. But don't stop there. Check references before making a final decision, especially when dealing with new companies.
Consider giving prospective new suppliers a smaller 'test' order before committing the time and money required for a large order. By slowly increasing the size of the orders over time you are providing an opportunity for the supplier to demonstrate that they deserve your trust. If they falter during this testing period you have less at risk and can walk away knowing that you did give them a chance to earn your business. If, on the other hand, they perform as expected, you have lost only a little time in the testing process before entering a full-sized order.
You also should always be concerned about the quality of the products that your suppliers provide. Check them out thoroughly before you buy! Follow up and always hold them to those same standards.
To your dollar store business success!
Do you want to learn more about opening a dollar store? See Insider's Guide to Opening a Dollar Store at http://www.openingadollarstore.com.
Bob Hamilton is an entrepreneur, author, writer, business consultant and trainer.
http://www.rescue-me-now.com
http://www.MarketingSuccessCenter.com
Article Source: http://EzineArticles.com/?expert=Bob_Hamilton
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