2 Simple Steps to Manage Sales When You Own a Dollar Store

One of the most frustrating problems faced by those with dollar stores is rebuilding sales to previous levels. It is hard to know where to start. It is hard to know what to do. Yet with a little data gathering a very effect strategy can be developed. By taking a few quick steps those who own a dollar store can quickly know the right actions to take. In this article I present 2 simple steps you should take immediately if sales drop off. These same steps will provide the data you need to zero in on the best actions to grow sales to new higher levels.

Step #1) Track and examine your dollar stores sales on a by-hour basis. If you own a dollar store it is important to continually monitor the performance of your store. One of the best pieces of data you can collect is by-hour sales. Be sure to also examine the number of transactions per hour to gain an understanding of variations in the size of your average sale. Collect this data 7 days per week. Armed with this information you can begin to develop a picture of exactly how sales roll into your store.

If times are really tight the most obvious use for low or no sales information is to reduce store hours. Why pay payroll, utilities and all other expenses associated with opening your store if there is one hour not generating sales? If cost cutting must occur and your lease allows you to make the change, consider temporarily reducing store hours. Of course you’ll need to ratchet them back up during the holidays. If you’ve had a recent unexpected drop in sales, add in information about staffing during the hours you are seeing the decrease.

Step #2) The second step to actually start physically working the slow times yourself. Those with dollar stores know this is one of the best ways to really begin to grasp the specifics associated with any change in by-hour sales. There are many benefits associated with your presence.

First there is the potential for a payroll reduction during the hours you actually work the sales floor. Even better news; your payroll goes down, but your staffing doesn’t. You are simply temporarily replacing an employee yourself. Those who own a dollar store know one of the best ways to discover the real answer to questions is speaking with customers. Your mission is to do exactly that. Find out all the details they are willing to share. Owners and managers of dollar stores can then use that information to determine the appropriate next steps to rebuild sales or cut costs.

To your dollar store success!