You Cannot Hide from Competition when Opening a Dollar Store

Unless you are starting an entirely unique business you will have competition of some sort.  This is certainly true when opening a dollar store.  It is important for you not to try to run and hide from your competition.  They will always be there whether you are willing to acknowledge them or not.  You can actually use them to your advantage too.

First, you need to track down your competitor's stores.  Take a look inside the store yourself and see how they are running their operation.  You will want to see how their store compares to yours.  Examine them for various strengths and weaknesses.

For example, look at how they treat their customers and see if they provide great service.  How clean is the store kept?  How much parking space is there for their customers?  There are many different variables you need to take into account.  Going on these spy missions is incredibly useful before even opening a dollar store.

It is helpful to take a notebook with you so you can jot down some ideas.  You will want to match your competitor's strengths whatever they may be.  Once you negate the advantages they have over you, you will be much better positioned to compete with them.

When you start a dollar store you will also need to take advantage of your competitor's weaknesses.  If they do not offer great prices, then you should have little problem undercutting them.  If there is not much space for parking try to find a location offering plenty of parking spaces.  Whatever area the competition is lacking in you will want to do better and let your customers know how you stand out.

Before you start a dollar store you will want to examine as many competing stores as you can.  Start with the surrounding area then work your way out.  You may even decide it is a good idea to ask the owners for helpful advice.  For example, some may be willing to tell you who they get most of their merchandise from.  Some may not be willing to offer much help, but there is certainly no harm in asking.

When opening a dollar store it is important for you not to try to run and hide from your competition.  Look at their operation and see how it is run.  Try to match or even overcome their strengths while making sure you take advantage of their weaknesses.  Once you do you will have a much better chance of success.