What are the steps needed to open a dollar store business if it is not a Franchise?
To make the process straight forward, here is a simple
STORE PLANNING CHECKLIST.
It will ensure that you do not forget anything when
getting started with a new dollar store.
These are things that are needed and typically need to be completed BEFORE a store rental lease is signed and commenced:
A) If you do not have the funds, obtain adequate financing with a Business Loan. A well laid out Business Plan will be needed to secure a traditional or non-traditional loan.
B) Determine what type of company you will be using for your business? Will it be a Corporation? An Incorporation? Or a Limited Liability Corporation (LLC)?
C) Select a Store Name “Winner”. You must make sure it is freed up in your county and/or state to register it.
D) When the company has been formed, get a TAX ID or Employer Identification Number, Permits.
E) Location, Location, Location! Get the best place possible before any leases are signed. Have a professional from Buckstore Inc. do a Feasibility Study and Business Plan if necessary for a Loan.
F) Next step… Lease negotiation and then lease is signed and keys delivered.
G) Review all the business insurance available to you, based on your location store size.
H) Hiring employees is not an easy task, and it is very important and must done, see all your options on how to
I) Store planning ideas can help you stay ahead of the game.