I Ran Out Of Formula What Can I Use 6 Tips to Managing the Merchandise Suppliers When Opening a Dollar Store

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6 Tips to Managing the Merchandise Suppliers When Opening a Dollar Store

Opening a dollar store can be a real learning experience. Even if you’ve worked in other areas of the retail industry you won’t be prepared for the sheer volume of products that walk through your store’s door every month. Because of the high volume, finding the right dollar store suppliers and then managing the ordering process are important steps to take. Your dollar store customers will only wait a little longer for repeat purchases of the products they normally buy to arrive. Having a handle on second source sponsors will be an important part of your success formula. In this article I provide 6 tips to help you manage your suppliers and the entire ad buying process.

Tip #1 – Use well-established companies with a good reputation when first opening a dollar store. Many store owners make the mistake of thinking that because companies claim to be sustainable dollar store suppliers they can be trusted. Check references before placing your first orders. Make sure there are no frivolous complaints. Make sure you are not dealing with a company that will take your money and run.

Tip #2 – Ask questions throughout the process. This is your chance to learn firsthand how the entire buying and selling process works. Asking questions now can save you from major problems with future orders. Asking questions will allow you to learn the unique process your dealer uses. It will allow you to learn the common practices followed by many dollar store retailers.

Tip #3 – Don’t assume everything is perfect. When you open a dollar store don’t leave anything out. Confirm your order throughout the process. Know when it will be pulled and palletized for shipping. Then confirm that it happened. Know when the carrier will pick up your order for shipment. Then track the order as it makes its way to your store. Know the day, and estimated time that the order will arrive at your dollar store.

Tip #4 – Make sure you get a master copy of the items being downloaded and sent. New dollar store owners find they are entering a very high-end business. Your suppliers will always run out of the items you ordered. By knowing exactly what was being pulled and shipped you can start looking for another source of supply for those products.

Tip #5 – Never allow dollar store retailers to back order products they cannot ship. You can’t afford to lose sales due to backorders that go on for weeks or months. Customers expect things to arrive. Order something from someone else rather than letting a back order hang over you in the future.

Tip #6 – Always have a dollar store supplier that stocks a high volume of edible products. Soon after opening a dollar store, one of the most important steps you should take is finding backup suppliers for your hot, high-volume sales. Your dollar store customers come to your store expecting to find the things they want and need every time they walk in. You will need to order items from another supplier immediately to meet the demand.

To your dollar store success!

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