Articles by Bob Hamilton on ArticleSnatch.com

Mortgage Foreclosure is a Real Lose-Lose Situation

Tue, 15 Apr 2008 00:00:00 -0400

As the number of homeowners who are facing or are already into the mortgage foreclosure process increases, the reality of this bad situation strikes home. This is no longer an event that happens to total strangers. For many it is now happening to friends, family, neighbors or even themselves. They are faced with the reality that they may lose their family home. We all lose when mortgage foreclosure occurs. For the homeowner there is the feeling of fear, guilt, and anxiety. There is the realization that mortgage foreclosure could mean the loss of their prized family home. There is also jeopardy to personal finances that will face them for many years to come. For the lender that is involved in mortgage foreclosure there is the loss of still another mortgage loan and the steady stream of income that repayment meant. Instead there will likely be a sale of a property at a price that is significantly below the amount that was loaned. For the community where the house is located there is the impact on home values and desirability of the neighborhood. **End Summary** Topics: real estate]]> foreclosure]]> short sale]]> mortgage foreclosure home]]>]]> About the Author: ]]> $$bio_HTML$$

Make Money on eBay - Finding a Small Focused Product Niche

Tue, 24 Apr 2007 00:00:00 -0400

Finding the right product niche is critically important to long term business success. When successfully completed, this single action can result in the ability to make money on eBay. Yet what are the right steps to take in identifying that right niche for a specific eBay business. An eBay business that is focused on a specific niche market will be addressing a need for a product or service that is likely not being addressed by all of the mainstream suppliers. In a market niche an eBay seller might establish a niche market by specializing in baby bottles and bottle nipples rather than offering general baby products for example. A smart, smaller seller can make money on eBay by establishing themselves in these small specialized market niches. There is a huge strategic advantage to being alone in a market niche. Other smaller eBay sellers may not even be aware of your particular niche market. Larger sellers likely won't want to bother with a small, focused market niche. **End Summary** Topics: Make Money on eBay]]> Product Niche]]>]]> About the Author: ]]> To read my free e-report "Dropship Facts" check out www.onlineauctionsmadesimple.net Bob Hamilton is an entrepreneur, writer and consultant. Bob sold his brick and mortor store to sell on eBay and has been helping others to get started on eBay ever since. http://www.openingadollarstore.com

How to Make Money Selling on eBay - Success is in the Buying!

Tue, 24 Apr 2007 00:00:00 -0400

Do you want to know how to make money selling on eBay? While there are many components that all come together to create a profit, one stands high on the list. That is the purchasing of resale products that sellers complete. It is the results of the buying that a seller does to obtain items to resell on eBay at a profit. If a seller is simply getting the same items at the same price as all other eBay sellers that likely isn’t enough to achieve success. It certainly isn’t enough to achieve the level of success that most seek. That leaves lots of competitors trying to figure out how to make money selling on eBay with little chance of rising above all of their competitors. The successful seller will be the one who is able to buy the same items at the lowest price. That is the seller who knows how to make money selling on eBay. That is the seller who will still make a profit even when selling on eBay at lower prices. That is also the seller who is devoting time and energy to locate the best possible deals. **End Summary** Topics: How to make Money on eBay]]> Buying Success]]>]]> About the Author: ]]> To read my free e-report "Dropship Facts" check out www.onlineauctionsmadesimple.net Bob Hamilton is an entrepreneur, writer and consultant. Bob sold his brick and mortor store to sell on eBay and has been helping others to get started on eBay ever since. http://www.openingadollarstore.com

Amake Money on eBay - Problem-Filled Weeks!

Mon, 23 Apr 2007 00:00:00 -0400

Have you ever had one of those weeks where every day just seemed to be filled with new problems and issues? No matter what you try those problems just seem to stack on top of the previous days problems. Finally you feel like that is no way to get out from under everything that you are facing. Yet to amake money on eBay requires that you somehow dig your self out from under all of the problems and issue and move forward. Don’t let the problems get you down. Every business faces problems and challenges as a part of being in business. What is important if you hope to amake money on eBay is to fix the problems that need fixing and then to move forward with your other business activities. There are a few things that you can do to help work your way through one of those problem-filled weeks. Start by addressing problems that affect customers first. Customers are the way that you amake money on eBay. If they have problems or concerns, those are a top priority. They should be addressed promptly. **End Summary** Topics: Amake Money on eBay]]>]]> About the Author: ]]> To read my free e-report "Dropship Facts" check out www.onlineauctionsmadesimple.net Bob Hamilton is an entrepreneur, writer and consultant. Bob sold his brick and mortor store to sell on eBay and has been helping others to get started on eBay ever since. http://www.openingadollarstore.com

How to Make Money Selling on eBay - Are Sales Going Down?

Mon, 23 Apr 2007 00:00:00 -0400

If you are among the many who are just starting to learn how to make money selling on eBay then you probably have not run into the problem of having a sales decrease yet. However at one time or another most sellers do run into this problem. There will likely be little warning when it happens. All of sudden you will begin to see the sales of your key product decrease. As with all businesses you can expect some sales fluctuation on eBay. But how do you handle sales declines that just don’t return to previous levels? You want to know how to make money selling on eBay, yet no matter how hard you try sales just stay lower. When this happens it is time to conduct research. It is time to really examine the product that you are selling. Possibly that product has just run the product life cycle. If that is true both sales prices and sales totals will continue to decline. It may be a slow decline, but if you want to know how to make money selling on eBay begin to look for other options. **End Summary** Topics: How to Make Money Selling on eBay]]> Sales]]>]]> About the Author: ]]> To read my free e-report "Dropship Facts" check out www.onlineauctionsmadesimple.net Bob Hamilton is an entrepreneur, writer and consultant. Bob sold his brick and mortor store to sell on eBay and has been helping others to get started on eBay ever since. http://www.openingadollarstore.com

Opening A Dollar Store - Assemble your Due Diligence Team

Mon, 23 Apr 2007 00:00:00 -0400

Are you considering opening a dollar store? If you are planning to purchase an existing store, there are some suggestions to consider. Every potential business buyer is strongly encouraged to start by identifying and utilizing a team of experts. Your team of experts should include both an attorney and an accountant or CPA. The attorney should be an expert in business law, and franchise law if franchises are being examined. The accountant or CPA should be an expert on business accounting, preferably in the discount retail trade area. Other experts could include trusted advisors, bankers, consultants and industry experts with appropriate credentials to add value in examining the specific business that is of interest to you. All of them come together to provide you the right support as you are opening a dollar store. Use your expert team to complete the development of your investigative due diligence process and questions. Plan beforehand; identifying exactly which team members will be doing which tasks to support the process. This is especially important at key decision-making points during the process. Opening a dollar store doesn’t need to be too overwhelming. **End Summary** Topics: Opening a Dollar Store]]> Due Diligence]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - What is Dollar Cost Averaging?

Mon, 23 Apr 2007 00:00:00 -0400

Are you considering opening a dollar store? If so, one of the areas of focus for you as you work to keep costs under control will be the cost of the goods sold. Merchandise costs are often the single largest expense for a dollar store. Knowing what dollar cost averaging is, and how to best use it can be a powerful tool for the entrepreneur whose goal is to reduce those costs. So exactly what is dollar cost averaging? Dollar cost averaging is simply taking the average total cost of all items purchased in a specific interval. It might be for one order, for one week, one month or one year. The total cost is divided by the total number of items that the store received for that amount of money. For example, let’s assume that you paid $100.00 for an order of toys. There were 200 items in the order and the freight was prepaid by the distributor. In this example divide $100.00 by the 200 items for an average cost of good sold of $0.50 for that order. While items within the order may have ranged from $0.35 to $0. **End Summary** Topics: Opening a Dollar Store]]> Dollar Cost Averaging]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - Put Dollar Cost Averaging to Work

Fri, 20 Apr 2007 00:00:00 -0400

One of the biggest challenges for every retailer who is opening a dollar store is to continuously lower the cost of goods sold. One way to accomplish this important task is by using dollar cost averaging. In fact, dollar cost averaging can be a powerful management tool for those who are opening a dollar store. Dollar cost averaging is simply the process of averaging the cost of goods sold across a specific interval. It might be a single order or the orders for a week, month or a year. In fact to be most effective, retailers who are opening a dollar store will likely use dollar cost averaging across many of the above intervals. If you are opening a dollar store consider using dollar cost averaging for every order that you complete. If you have established cost of goods sold goals, you can then see what impact each order will have on achieving that goal. Next roll the orders together on a weekly basis and average across the week. Are you still on track to hit your goal? If so, the orders across the week were inline. **End Summary** Topics: Opening a Dollar Store]]> Dollar Cost Averaging]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - Examine the Books Before Purchasing an Existing Store

Fri, 20 Apr 2007 00:00:00 -0400

The financial records of an existing store can tell you more about that store’s history than any other piece of information. If you are considering acquiring an existing store your means of opening a dollar store don’t discount the importance of seeing those financial records. They can unlock good news and bad news about the business you are considering. Financial records can disclose unexpected sales increases and decreases. They can raise questions that a prospective owner must have answered before an informed decision is made. For example, what if the books show that sales dropped significantly during the holidays? That drop needs to be compared to prior year sales as well as previous month sales. Then there are questions to be answered. Why the drop? Was there inventory to support higher sales? What advertising and promotion was done? Were there traffic changes (Road work, changes in auto traffic flow, etc?) associated with the slowdown? Was there a change in tenants within the local area (Did a major anchor close or move?)? Did sales return to prior levels after the holidays? What about store personnel; were there changes? Did store hours change? **End Summary** Topics: Opening a Dollar Store]]> Existing Store]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - Start a Buying Frenzy

Thu, 19 Apr 2007 00:00:00 -0400

Are you opening a dollar store? One of the most obvious things about retailing is that the more people that you have in your store, the more sales you will make. It is more than just more people equate to more sales. We found that there was also an increase in the size of the sales and the percentage of shoppers who made purchases when huge crowds were present. These increases seem to come from buyers jumping on the bandwagon after seeing other shoppers getting good deals. It is almost as if they fear missing out on the best deals. It is as if people are thinking that if those buyers are buying that product it must be good and I had better make a purchase too! If you are opening a dollar store you want to create that kind of buying frenzy in your store. Yet few dollar store owners take specific actions to increase traffic and to generate the resulting sales. They make the commitment to opening a dollar store, and then they decide to simply wait for customer traffic to arrive. Waiting isn’t the answer. **End Summary** Topics: Opening a Dollar Store]]> Buying Frenzy]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - Business Management can be Demanding

Thu, 19 Apr 2007 00:00:00 -0400

Are you opening a dollar store? Your business will be different and unique from all others. Running that business will be both challenging and rewarding. Successfully managing that unique business will require a unique set of leadership and management skills. Are you prepared for the challenge? If not, prepare before you start! Do you have the training and skills that are required to successfully handle all of the human resources requirements associated with opening a dollar store? Are you up to speed on all of the reporting and record keeping laws and regulations associated with having employees? Do you have the training and experience to successfully hire, train and supervise your employees? If not be sure to look for training before you start. There are many sources of information and training. State and Federal information is a phone call or a click away. Business organizations often provide training and updates to members. Local colleges are another great source. How about general business management; do you have training and experience in business operations? Can you lead your business forward strategically? Are you ready to manage the day-to-day operations of your business? **End Summary** Topics: Opening a Dollar Store]]> Business Management]]> Management]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - Plan to Create the Right Shopping Environment

Thu, 19 Apr 2007 00:00:00 -0400

One of the things that every entrepreneur who is opening a dollar store can do to help set their stores up for success is to create the right shopping environment in their planning. It is to take all of the steps necessary to make visiting and shopping in your soon to open store a pleasant experience for every shopper. In that way everything will be in place to maximize the number of return shoppers from the very first day the store is open for business. There are several keys to creating the right shopping environment. Each can have a huge positive impact if you are opening a dollar store. In this article we focus on store layout and lighting. Start with planning the store layout. If you are opening a dollar store it is important for store security that employees are able to easily see down all aisles. The easiest solution to that is to run the gondolas from front to back of the store. Some retailers run the shorter gondolas at the front of the store from side to side as well. **End Summary** Topics: Opening a Dollar Store]]> Shopping Enviroment]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - Rewards of Business Ownership

Wed, 18 Apr 2007 00:00:00 -0400

There are many potential rewards associated with opening a dollar store. However, with those rewards come many risks as well. It is important that the entrepreneur who is opening a dollar store carefully determine what those rewards are in their case and then compare the rewards to the many risks that will also be faced. So what are some of the rewards associated with opening a dollar store? The rewards can include the potential for monetary profits. There is also the freedom associated with working for yourself, and the pride associated with owning your own business. Among the biggest rewards for many is getting rid of the 9-to-5 J-O-B and the boss that comes with that J-O-B. All of these rewards and more are attainable if you are opening a dollar store. Well run dollar stores can be profitable. Owning and operating your own business does offer a degree of independence. You can definitely determine what you do and when you will do it. (However, never lose sight of the fact that mistakes can affect business performance. **End Summary** Topics: Opening a Dollar Store]]> Business Ownership]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - Retail Hours are Demanding

Wed, 18 Apr 2007 00:00:00 -0400

Are you considering opening a dollar store? If so, never discount the demands that are associated with having a business that operates during retail hours. As with almost all retail businesses long hours and varied hours, including evenings and weekends will be required of the independent owner-operator. In fact retail stores are typically open 10-12 hours per day, often seven days per week For most who are opening a dollar store retail hours will mean that they can expect that they will need to work ten to twelve hours per day, seven days per week during the start up phase of the business. If you are in a shopping mall of any kind your actual hours of operation will be dictated for you. During the start up and early growth phases of you business you can expect that as the owner you will need to be on-site or readily available to help your new employees as they learn your policies and procedures and the demands of their specific jobs. Phone calls can and will come before during and after store hours. This is all just a part of the challenge of opening a dollar store. **End Summary** Topics: Opening A Dollar Store]]> Retail Hours]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - Some Big Store Disadvantages

Wed, 18 Apr 2007 00:00:00 -0400

If you are opening a dollar store carefully consider the advantages and the disadvantages associated with the actual size of the store that you will open. While there are many advantages to opening a store that is larger in size, there are also many disadvantages as well. These disadvantages need to be carefully considered before a final decision is made. While I am an advocate for opening the largest store possible. However it is important that those who are opening a dollar store move forward with care. The added challenges that come with a larger store are doable for most. However those challenges need to be recognized and plans for handling each one needs to be developed. If you are opening a dollar store it is important to recognize that larger stores are more difficult to manage. That management challenge will be associated with virtually every aspect of the business. There will be more employees to hire, train and supervise. There will be more merchandise to order and then reorder. There will be more stock work and merchandising to do. Opening a dollar store that is larger in size also requires a higher initial cash investment. **End Summary** Topics: Opening a Dollar Store]]> Big Store]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - The Risks of Your own Business

Wed, 18 Apr 2007 00:00:00 -0400

Are you considering opening a dollar store? If so, have you examined all of the risks that you will face by starting a business of your own? Have you determined that those risks are simply outweighed by the rewards of business ownership? Most true entrepreneurs carefully analyze the situation. After that analysis they determine whether they will or will not be able to overcome the risks. Finally they assess whether the rewards outweigh the time, effort and money that is required to address the risks. They determine that they can and will be a success in their operation. As with owning any business, dollar stores involve both risks and rewards. Just what are the risks associated with opening a dollar store? The personal risks can include personal sacrifice, cash investment, personal guarantees on financing, hours and hours of hard work and more. Business risks include those associated with competition, financing, and management of the business. Careful examination and analysis of the risks is required of the entrepreneur who is opening a dollar store. All potential risks need to be identified and then strategies for minimizing those risks need to be developed. **End Summary** Topics: Opening a Dollar Store]]> Business]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Make Money on eBay - Higher Fuel Costs can mean Higher Sales!

Wed, 18 Apr 2007 00:00:00 -0400

Often there are marketing opportunities that a seller fails to recognize. If that opportunity is not recognized there is little chance to use that opportunity to the seller’s advantage. Yet had that opportunity been recognized it may have meant that the seller can make money on eBay. One of those market opportunities has been emerging over the last many months. That opportunity; fuels costs! For some sellers higher fuel costs can be an opportunity to make money on eBay. Fuel prices continue to creep ever higher and higher. As they continue their incredible climb use the opportunity to grow your sales and to make money on eBay. Here is a chance to save shoppers from having to make that $10.00 or $15.00 trip to purchase the very same or at least similar item as you sell on eBay. There are a couple of ways to remind prospective buyers of the potential savings. Add a comment to your item listings. You could also consider trying a sub-title on your auction listings. In either case simply add a brief statement about saving money on fuel by buying from you. **End Summary** Topics: Make Money on eBay]]> Higher Fuel]]> Fuel Costs]]>]]> About the Author: ]]> To read my free e-report "Dropship Facts" check out www.onlineauctionsmadesimple.net Bob Hamilton is an entrepreneur, writer and consultant. Bob sold his brick and mortor store to sell on eBay and has been helping others to get started on eBay ever since. http://www.openingadollarstore.com

Opening A Dollar Store - Become a Distributor too!

Mon, 16 Apr 2007 00:00:00 -0400

If you are opening a dollar store there need to be business plans for the future. Those plans need to include plans for sales growth of the store. Plans to grow the business through opening new stores or through diversification of the business also need to be considered. If growth through diversification is being considered, examine becoming a wholesale distributor. Becoming a wholesale distributor offers many advantages to an existing retail business. Many of these advantages are achieved by adding extra quantities to purchases that are made with your existing suppliers. Larger purchases will often mean lower prices per item. Many of the wholesalers you buy from offer price breaks as the quantity of an item purchased increases. Those lower prices equate to a lower cost of goods sold for your retail store. If you are opening a dollar store you know that the cost of goods sold is generally the largest single cost for a dollar store. Larger purchases will often mean more products being shipped at the same time. Generally larger shipments come with lower per item freight costs. **End Summary** Topics: Opening a Dollar Store]]> Distributor]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - Don't Forget the Routine Maintenance

Mon, 16 Apr 2007 00:00:00 -0400

Successfully opening a dollar store requires an entrepreneur who can multi-task. It also requires an entrepreneur who can step back and see the reality of the day. At times all of the tasks that are required to continue the growth and forward movement of the store can pull the concentration of the owner and manager away from routine maintenance. Yet those routine maintenance tasks are critical for achieving daily sales performance. Normally a well run store will have routine schedules for cleaning/sweeping the floors, washing the windows at the front doors, and cleaning around the checkout area. Yet if you are opening a dollar store there are other key areas of store maintenance that should not be overlooked. These may require some level of expertise to complete or they may be difficult to access. Yet the maintenance must be done to keep the right shopping environment that brings customers back time and again. Lighting is a key example. Dim and burned out lights should be replaced immediately. The impact that a dimly lit store has on sales is significant. Burned out lights also give shoppers a poor first and last impression as they look at your store. **End Summary** Topics: Opening a Dollar Store]]> Routine Maintenance]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - Bigger Store Advantages

Mon, 16 Apr 2007 00:00:00 -0400

There are many theories about the right size for your first dollar store. If you are opening a dollar store I recommend that you open the largest store possible. However, I also caution that it is critical to have adequate funding to properly operate a larger store. Opening a dollar store requires more money than one would think. While the total investment in inventory will likely be smaller than opening a retail store in another product line, replenishment is a much bigger investment than would be expected. Not having backup cash available for replenishment merchandise can doom your store to failure. The presence that a larger store makes can create a buzz in the community. The larger size allows the store to carry a much wider assortment of products. It is also possible to carry a wider range of items in both brands and features within a product category. This creates the opportunity for more sales. Opening a dollar store with a larger retail sales floor positions the small entrepreneur to more successfully compete head-on with major national chains. Larger stores almost eliminate the competition associated with smaller locally owned dollar stores. **End Summary** Topics: Opening a Dollar Store]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - First Steps to Take

Mon, 16 Apr 2007 00:00:00 -0400

There are so many things to do as a part of moving toward opening a dollar store. Without taking the right steps, your successful start-up will be much more challenging. If you have made the decision to open a dollar store be sure that you don’t forget these steps. If you are opening a dollar store one of the first steps to take is to determine the size of store that you plan to open. That is important information for many reasons. Knowing the target size of your store will enable you to: · Establish funding requirements for the venture. Don’t forget that there is a need for operating capital to support payroll, rent and utilities payments, replenishment merchandise orders for the first 2-3 months (at least) and other costs of operating your business. · Establish initial inventory requirements. There may be some items that you will or will not be able to carry based on the size of the retail sales floor. · Establish support area requirements. **End Summary** Topics: Opening a Dollar Store]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - Are You Cut Out to be a Business Owner?

Fri, 13 Apr 2007 00:00:00 -0400

Many people desire to work for themselves. They long for the many benefits that can come with business ownership. Yet those same people fail to take the time to really understand what it takes to be the owner your own business. Opening a dollar store is no different. There are some real benefits, but there are also some major costs associated with become self-employed. Even more important there are specific skills required to achieve success. If you are considering opening a dollar store take the time to understand exactly what will be involved in that decision. Seriously examine your strengths and weaknesses. Be sure that you are ready to undertake the dollar store ownership adventure. There are two very different skill sets that business owners must bring to their business. If you are opening a dollar store you will find that one of the two skills sets can be covered by others. You can hire employees or retain experts to help. The second skill set rarely gets properly covered if the entrepreneur doesn’t possess that skill set. Every business has a core requirement for strategic leadership. **End Summary** Topics: Opening a Dollar Store]]> Business Owner]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - Tips on Investigative Due Diligence!

Fri, 13 Apr 2007 00:00:00 -0400

If you are opening a dollar store you may locate an existing business, a business opportunity or a franchise as an option. It is true that some businesses represent very good opportunities for everyone who is involved in the transaction. In the end, everyone comes out to be a winner. In other cases however there is a more one-sided outcome. There is only one real winner. Usually, that winner is not going to be you, the buyer. Worse yet, some franchises and business opportunities are just plain bad ideas that don’t work for anyone who is involved. Ultimately, no one wins in this type of transaction. If you are considering opening a dollar store be sure that you have not made a mistake. Be sure that you are going to come out a winner. Before you invest your hard earned money in any business, it is imperative that you have been thorough in your investigative due diligence. Make sure that you have invested the appropriate amount of time, effort and resources to ensure that you have asked the right questions. **End Summary** Topics: Opening a Dollar Store]]> Due Diligence]]> Investigating Due Diligence]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - Basics of Purchasing an Existing Store

Fri, 13 Apr 2007 00:00:00 -0400

If you are considering opening a dollar store one of the thoughts that may be going through your mind is to buy an existing store. You are thinking that you can just reopen that store under your own business name and the money will soon be rolling in. However there is more to it than that. While purchasing an existing store can save much time and trouble the old adage warning that the buyer should beware comes to mind. Be sure that you enter the purchase with your eyes wide open and only after conducting thorough due diligence in advance. The last thing you want after opening a dollar store is to find a long list of surprises and unexpected problems. Be sure that you consult with an attorney and a CPA before signing any paperwork and contracts. Make sure that they are up to speed on the retail industry. Consider these professionals to be an investment in your future success after opening a dollar store. In most cases there will be a specific reason for the sale. It may be that a new competitor has opened down the street and sales are down. **End Summary** Topics: Opening a Dollar Store]]> Existing Store]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net

Opening A Dollar Store - How to Minimize Inventory and Maximize Sales

Fri, 13 Apr 2007 00:00:00 -0400

One of the challenges that every entrepreneur who is opening a dollar store faces is having the right amount of merchandise in-stock and ready for purchase. Even more important is the product mix to meet the wants and needs of the customer. Many owners invest their merchandise inventory dollars in low-cost items rather than creating the right mix of products. It is important to remember that the right mix will keep their shoppers excited and coming back time and again. If you are opening a dollar store don’t make the mistake of tying up all of your merchandise inventory dollars in low-cost items. While the store may look fuller, many of the low-cost items are slow selling. Your goal needs to be to achieve as many inventory turns during the year as possible. Slow selling items simply won’t achieve that goal. Inventory turn occur when the right products to meet customer needs and wants are in-stock. The right way to maximize sales is to create a mix of products across your store. **End Summary** Topics: Opening a Dollar Store]]> Minimize Inventory]]> Maximize Sales]]>]]> About the Author: ]]> Do you want to own your own Dollar Store? Visit www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net