and weaknesses? How can you keep their strengths from impacting your business? How can you capitalize on their weaknesses to further build your business? Knowing about and thoroughly understanding competitors is key to long term success after opening a dollar store.

After opening a dollar store it is important to know if there have there been major changes within your store’s drawing area. Are there more residential properties in the surrounding are

Are you opening a dollar store? If so always remember that it is quite easy for those who are very close to a business to lose sight of exactly what is happening with that business. It is very easy for a business to get out of control and for unexpected consequences to result.

Make it a practice to routinely examine the different components of your business. For example examining traffic and surrounding area demographics on a routine basis is important after opening a dollar store.

Have there been significant changes in traffic flow into the store, flows on main streets and into the parking lot? Are traffic counts on major thoroughfares that surround your business the same or higher? Is there still the same easy access in and out of the area around your store? Have parking space numbers changed? Is it still easy for your customers to find parking that allows them to quickly run in and purchase a needed item? These are all important after opening a dollar store.

How about tenant businesses in the immediate area? Have there been any significant changes especially with surrounding anchor businesses? Do the surrounding businesses remain complementary to your store? Have new and different businesses been added? Are there products that you need to add to better accommodate those new businesses? Are products that you have been selling now being sold by a competitor? These too are important questions to ask on a routine basis after opening a dollar store.

Have any direct competitors entered into your close proximity? Who are they? (Investigate the company to understand their business strategies.) Are they a one-dollar-price-point store, a dollar-price-point store, a deep discounter, or other competitor? How many square feet of sales area do they have in their store? What are their strengths and weaknesses? How can you keep their strengths from impacting your business? How can you capitalize on their weaknesses to further build your business? Knowing about and thoroughly understanding competitors is key to long term success after opening a dollar store.

After opening a dollar store it is important to know if there have there been major changes within your store’s drawing area. Are there more residential properties in the surrounding are

ant after opening a dollar store.

Have there been significant changes in traffic flow into the store, flows on main streets and into the parking lot? Are traffic counts on major thoroughfares that surround your business the same or higher? Is there still the same easy access in and out of the area around your store? Have parking space numbers changed? Is it still easy for your customers to find parking that allows them to quickly run in and purchase a needed item? These are all important after opening a dollar store.

How about tenant businesses in the immediate area? Have there been any significant changes especially with surrounding anchor businesses? Do the surrounding businesses remain complementary to your store? Have new and different businesses been added? Are there products that you need to add to better accommodate those new businesses? Are products that you have been selling now being sold by a competitor? These too are important questions to ask on a routine basis after opening a dollar store.

Have any direct competitors entered into your close proximity? Who are they? (Investigate the company to understand their business strategies.) Are they a one-dollar-price-point store, a dollar-price-point store, a deep discounter, or other competitor? How many square feet of sales area do they have in their store? What are their strengths and weaknesses? How can you keep their strengths from impacting your business? How can you capitalize on their weaknesses to further build your business? Knowing about and thoroughly understanding competitors is key to long term success after opening a dollar store.

After opening a dollar store it is important to know if there have there been major changes within your store’s drawing area. Are there more residential properties in the surrounding are

e a needed item? These are all important after opening a dollar store.

How about tenant businesses in the immediate area? Have there been any significant changes especially with surrounding anchor businesses? Do the surrounding businesses remain complementary to your store? Have new and different businesses been added? Are there products that you need to add to better accommodate those new businesses? Are products that you have been selling now being sold by a competitor? These too are important questions to ask on a routine basis after opening a dollar store.

Have any direct competitors entered into your close proximity? Who are they? (Investigate the company to understand their business strategies.) Are they a one-dollar-price-point store, a dollar-price-point store, a deep discounter, or other competitor? How many square feet of sales area do they have in their store? What are their strengths and weaknesses? How can you keep their strengths from impacting your business? How can you capitalize on their weaknesses to further build your business? Knowing about and thoroughly understanding competitors is key to long term success after opening a dollar store.

After opening a dollar store it is important to know if there have there been major changes within your store’s drawing area. Are there more residential properties in the surrounding are

sold by a competitor? These too are important questions to ask on a routine basis after opening a dollar store.

Have any direct competitors entered into your close proximity? Who are they? (Investigate the company to understand their business strategies.) Are they a one-dollar-price-point store, a dollar-price-point store, a deep discounter, or other competitor? How many square feet of sales area do they have in their store? What are their strengths and weaknesses? How can you keep their strengths from impacting your business? How can you capitalize on their weaknesses to further build your business? Knowing about and thoroughly understanding competitors is key to long term success after opening a dollar store.

After opening a dollar store it is important to know if there have there been major changes within your store’s drawing area. Are there more residential properties in the surrounding are

and weaknesses? How can you keep their strengths from impacting your business? How can you capitalize on their weaknesses to further build your business? Knowing about and thoroughly understanding competitors is key to long term success after opening a dollar store.

After opening a dollar store it is important to know if there have there been major changes within your store’s drawing area. Are there more residential properties in the surrounding area? Have residential areas been traded for commercial areas? Has the make-up of your immediate customer base changed in any way?

Invest the time to really collect sound data about all of the pertinent traffic and demographics questions for your location. Carefully analyze that data for changes since opening your dollar store. Use that data to make adjustments to your business operation. To Your Dollar Store Success!