I want to open a dollar store in MA. All I hear are pros, no cons, like how easy and profitable dollar stores are if you have a great locations. What are the cons that are never mentioned by dollar store developers in owning a dollar store?
First, let me congratulate you on looking beyond the hype. I read on one 'dollar store developer' website that they could help anyone open a dollar store. No experience required. The only thing required from you is hard work and customer satisfaction. That sounds easy enough, doesn't it? If only it were that simple!
You didn't mention if this would be a dollar store franchise or an independent store, but the pros and cons of opening a store are very similar from one type of retail business to the next. Retail stores require a large initial outlay of capital for inventory, store fixtures and advertising. Many small business owners try to do everything on their own in the beginning and find that working 60- to 80-hour weeks can quickly drain all creative energy.
The dollar store model has become quite popular over the last decade and like all good retailing trends, the dollar store craze will eventually taper off. We're already seeing other retail segments, including drug stores and supermarkets, adding dollar store goods to their product lines in order to retain the value-conscious consumer.
Whatever you decide to do, good luck and may the choice you make be the right one for you.