MONEY MANAGEMENT

How To Start A Variety Store With Dollar Tree Products

How To Start A Variety Store With Dollar Tree Products
How To Start A Variety Store With Dollar Tree Products

How To Start A Variety Store With Dollar Tree Products

Many Items You’ll Stock To Be Successful Can Be Found At Dollar Tree At Prices Close To Wholesale

If you live in a rural area without a general store, start a variety store with Dollar Tree products to help your community and boost your income.

Starting a mom and pop variety store is easier and cheaper than starting a convenience store.

With the right amount of effort, as well as planning and research, you can either:

  • Create your own variety store business from the ground up
  • Buy Into an existing franchise

A better pathway and opportunity into serving your rural area without a dollar store is to provide affordable items that you source from Dollar Tree with a small markup.

Small markups between 10 and 20 percent could add up to a nice income.

In many rural areas, there are old, roadside stores that are abandoned, which could be converted into a viable variety store.

Approach the owner about renting or buying it.

The reason why this is such a great idea, you won’t be starting your business as competition to an existing convenience store.

Better yet, go into a different rural town to start a variety store where there is a huge need and demand for certain goods.

If you have always wanted to get into retail, then this is a good way to find out if this is the right business for you.

I know for a fact, that many small variety store operators source dollar items and re-sell them at a small markup.

Why do you think all of the one dollar products at dollar stores sell out faster than others?

For example, if a gallon of bleach cost $1, you can re-sell it for $1.50.

To me, starting a variety store in a rural area where most people don’t have cars or access to get everyday supplies, seems like a lucrative option.

You can even start a variety store without electricity, gas and water until you can afford it.

It has been done!

Operate your store only during daylight hours.

In spring and summer, you can sell fresh produce from local farmers, which will give you an advantage in your community.

Also, go to bread outlet stores in the big city to buy fresh baked goods to re-sell in your store—at a discount.

What To Stock That Local Customers Need And Want?

Visit the nearest Dollar Tree to study their inventory, taking note of which products are out of stock, more often.

Use the dollar store to help you research what is not being provided in your rural area to assist you in knowing what inventory you NEED to supply.

If you are in a rural area that has any type of high ethnic population, think about catering to them.

Have a section of your variety (convenience) store dedicated to the local ethnic group.

Calculate how much money you need for the initial start-up costs.

Try to keep start-up costs as low as possible by bartering for rent, using a family-owned property, etc.

Source your stock in bulk when available in large quantities at Dollar Tree.

Set up an accounting system that you can operate yourself.

Owning and operating your own variety store business means that you’ll be responsible for such things as collecting sales tax, paying yourself a livable wage ($10/hour in a rural area), as well as quarterly business taxes.

Go to your nearest Goodwill to seek advice and/or assistance about setting up an accounting system.

If you can run a thrift store, you can start a variety store with Dollar Tree products.

When you are able to buy bulk closeout goods (that you believe will sell), offer local residents and organizations a discount on items in your store to help as an incentive to driving traffic to you.

Use a box to collect data by asking your customers what they need the most.

Need Traffic For Your Rural Variety Store?

In the information and technology age, every business needs to be on the Internet.

Here are the best ways to get the word out, however, you must focus on local promotion at first.

Your website does not need to be fancy, just functional and affordable.

Therefore, I recommend Income Activator, which I used to create and host RuralMoney.com.

They have simple templates and affordable yearly hosting.

Should you contact them, tell them that Tonza referred you!