| When opening a dollar store it is important to make | | | | development of your business plan you will be able to |
| sure all of the critical business requirements have been | | | | create a comprehensive list of funding requirements. |
| documented. For example, the total amount of funding | | | | Double check your business plan funding requirements |
| must be calculated. Knowing this one piece of | | | | against your store opening requirements checklist to |
| information allows you to move forward and actually | | | | validate the numbers. |
| take the necessary steps to locate and collect the | | | | Step #3) If you are opening a dollar store be sure to |
| funds required to successfully open and operate your | | | | be conservative in developing your cash requirements. |
| store. Skipping any of the critical steps, or | | | | Judge your funding numbers so they include a margin |
| miscalculating the correct requirements can prove to | | | | for error. Error to the side of having too much financing |
| be fatal to your business after it opens. In this article I | | | | rather than not enough. It is better to have a little cash |
| help you get started in your preparation as I present | | | | left over as your business starts generating profit |
| 1st steps 1st when opening your store. | | | | rather than being unable to continue the sales growth |
| Step #1) Create a store opening requirements | | | | required to achieve profitability because you lack |
| checklist. That's right, develop your own checklist. You | | | | funding. |
| will know many of the initial requirements such as | | | | Step #4) Check and double check your list. While this |
| finding a location, negotiating and signing a lease, | | | | list doesn't include all of the critical steps you will need |
| registering for a business license, and ordering | | | | to take for successfully opening a dollar store, it will |
| merchandise. However as you continue to prepare to | | | | help you take the right initial steps. Continually add to |
| start your search for the perfect location you will find | | | | the checklist as new requirements emerge. Don't be |
| new and important things to add. Conduct a little online | | | | afraid to ask other store owners or experts for ideas. |
| research for ideas and support. Make it a living | | | | Don't forget to consider costs during the first full year |
| document so it grows as you make those discoveries. | | | | of operation. It is better to have cash allocated for |
| Step #2) Develop a first-pass funding plan for your | | | | your store opening left over rather than to run short |
| business. Once you've developed you initial store | | | | and jeopardize your entire business. |
| opening requirements checklist, start to work on the | | | | To your dollar store success! |
| business plan for your store. As you work through the | | | | |