5 Keys To Finding The Right Location When Opening A Dollar Store

One of the biggest challenges associated with opening a dollar store is finding just the right location. First you need to consider the demographics of the area you have in mind. Then you need to examine the daily traffic counts around your store. Next you need to examine traffic patterns in and out of the parking lot. And of course the proposed contract and accompanying costs must be carefully weighed against potential earnings. And the list goes on from there. To help you get started, in this article I present 5 keys to finding the right location when opening a dollar store.

1) A Clearly visible storefront is important when you are opening a dollar store. Be sure you store is facing a high traffic count thoroughfare. This is important to gain the attention and visits from those driving past the location. So be sure to personally check to make sure your proposed store is easy to see when passing by.

2) Easy entry and exit to your store’s parking lot is critical to success. Don’t expect nearly as many shoppers to come if they must drive through a maze of streets, or back-track to enter the parking lot. You want both easy entrance and egress.

3) Be sure the other tenant businesses are a good complement for your store. Ideally other businesses will draw shoppers with a strong interest in purchasing from your store. Speak with other business owners if you don’t know the demographics of their shoppers. Most are eager to have fellow tenants who can all work together to achieve business success.

4) Easy, convenient parking helps. When opening a dollar store you’ll soon find shoppers who drive their car to your store prefer to park immediately in front of your store. Look for a location that offers an abundance of parking close by your store.

5) A final consideration if you are opening a dollar store. Make sure your lease payment/rent will be in-line with current economic conditions. A second-tier location with a first-class lease payment is a formula for failure. Be sure you are familiar with the going rates in your area. Make sure your lease payments are in-line with everything the location offers. Consulting a commercial real estate expert for help can often be valuable. See your attorney before completing the deal.

To your dollar store business success!