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Old 04-14-2014, 03:34 PM
 
2 posts, read 1,104 times
Reputation: 10

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Hello: Hungry for your advise and it will be appreciated a lot.
I am opening a 1000 sf dollar store from buck company in northern Virginia. The total cost is $40000.00 for package + rent, which I don't know yet but will be higher as compared to other states. The profit margin is 40% in which I have to take care rent, payroll, utilities, and others. After everything I can guess it will around 20%. No financing available from the buck company at this time.
Please educate me, 1- Can I survive under that of 20% of total profit. 2- Is it a good idea to open a dollar store at this time in 2014....3- short term and long term goals. 4- Hot products to buy from buck store Inc. or other suppliers. 5- any other advise you can think about.............
Thank you
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Old 04-14-2014, 05:12 PM
 
Location: Tampa, FL
2,164 posts, read 1,408,658 times
Reputation: 1975
Sorry, I don't know anything about opening a business, but I know someone who does:
DaveRamsey.com
He's one of the smartest guys out there. I wish you lots of luck with your endeavor.

Last edited by Starr.R; 04-14-2014 at 05:12 PM.. Reason: fix link
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Old 04-14-2014, 06:00 PM
 
3,062 posts, read 6,999,657 times
Reputation: 3679
You may want to post this in the business section of the forum. But I did just read that some dollar stores are hurting. People are buying more food instead of the other goods at a dollar store. Food has lower profit margins than the paper goods and cleaning products at those stores.
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Old 04-14-2014, 07:50 PM
 
2 posts, read 1,104 times
Reputation: 10
Default Dollar Store

Thank you. I like your advise
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