If you are about to start a dollar store you undoubtedly are concerned about where you will purchase your dollar store merchandise. For some this is such a big worry that they fear their new dollar store business will fail due to a lack of quality, reputable dollar store suppliers. In reality those concerned entrepreneurs aren’t far off the mark. Without the right merchandise it is impossible to satisfy the needs and wants of your customers. Fortunately there are many excellent sources available with just the right products for your business. It’s just a matter of finding them and then establishing a solid working relationship. But first you need to determine which types of suppliers fit your long-term business strategy. In this article I help establish the types of suppliers to consider for your business.
Establish 2-3 primary dollar store suppliers. Look for larger general merchandise suppliers that can provide all the basic essentials to stock your store. These companies are located across the country, so be sure to look at major supply centers nearest to you to minimize freight costs. Interview until you locate companies with the right products, good pricing and a focus on providing good customer service.
Next identify your specialty merchandise suppliers for your dollar store business. Some of the key dollar store merchandise categories where this is needed include snacks, jewelry, beverages, greeting cards, and gift bags and gift wrap. These companies focus only on a specific set of products. As a result you will generally find they are very in-touch with the marketplace and the needs and wants of the consumers in that marketplace. Make use of your general dollar store suppliers to back-up your specialty suppliers if required.
Identify 1-2 back-up suppliers for general dollar store merchandise. Your dollar store business can’t afford to lose sales if one of your primary suppliers doesn’t live up to its promises. Always have 1-2 other general suppliers identified to step in and quickly replace existing suppliers should there be problems.
Continually be on the lookout for new, better dollar store suppliers to support your dollar store business. This isn’t a task to perform only when you start a dollar store. You need to continually work to locate new, better, lower-cost suppliers for your business. Sure, this takes time and effort. However by investing to research potential new suppliers you will periodically find a real winner. They will be reliable, lower cost, and their products will be of even higher quality than those you currently carry.
To your success when you start a dollar store!
