If you are fed up of your 9 to 5 job and planning to start your own business, think about a dollar store. It offers you an opportunity to earn lots of dollars. All you need to do is to use your savings and apply for a bank loan to start a dollar store. Here, you will need up to $100,000 or more to purchase a franchise. In addition to this, you need to obtain a vendor’s license while opening a store and pay sales taxes on intrastate customers.

To make a better investment decision, here you will find helpful tips to open your own dollar store:

• Count the number of dollar stores in your area. Determine if there is a need for another store. Consider a location where there is no or less competition to get a maximum number of customers and earn profits.
• Make a decision whether you want to purchase a franchise. Look for the websites for franchisers. If you do not want to buy a franchise, start your business from scratch.
• Find the right wholesale supplier for your store. Make a list of top suppliers in your region and call them. Choose the one that offers extensive product lines so that you can get several solutions as well as services at one source.
• Obtain a list of retail prices from several wholesale suppliers.
• Choose the location wisely. It is highly suggested to choose a location in a high-traffic area, like near a strip mall.
• Work with your spouse or relatives than hiring employees early on. If needed, you can hire one or two employees who can run shifts.
• Order products from your wholesale supplier. Set up your store with cabinets, shelving units, and in-store signage. Place all the products on the shelves. Make arrangements of cash registers and office computer, printer, and fax machine.

Follow all the steps to start a new dollar store. Fortunately, there are a number of sources from where you can get excellent assistance to start a new store. From setting up to layout, merchandise stocks to key operations, they provide complete guidance to open your new store and a training session after ward.

If you want to be your own boss, buy dollar store merchandise from the right provider along with complete store fixtures. Do research online and approach the one that fits your needs and requirements.

Author’s Bio: This article is all about tips to open a merchandise store.