General Advice For Possibly Starting Up A Business?

>>2862776
Why don't you go work at a Dollar Tree or something?

>>2862776
Step 1: Hire me
Step 2: ???
Step 3: profit???

>>2862776
Serious response. In order for your business to even function, there has to be a demand for inferior goods. Your target audience will have to be low income neighborhoods. Once you find a potential market, that is when you can actually consider other things that you'll need to run your business.

I personally have little knowledge on purchasing wholesale items to stock your store. All I know is that you need to find reliable suppliers, and keep track of which goods sale more commonly (along with offering a variety of goods). I cannot recall what these plans are called, but based on precious research that I've made, convenience stores have some sort of organization for their goods that supposedly increase sales. I'm assuming popular goods are placed through the midsection of a shelf, lesser but essential goods at the bottom, etc. I'm also sure this has a lot to do with the size of the goods.

You should also look into all the legal things that you have to get out of the way. Such as registering your business with the state, I'm pretty sure you need a license for selling wholesale goods. You'll need to charge local taxes which can vary depending on your location (state, federal, county, city, special taxes).

>>2862784
>>2862793
The idea of owning a Dollar Store is appealing to me, I already do work at one.

>>2862809
previous not precious*

>>2862809
Thank you, I'll copy/paste this into my notepad.

>>2862776
Can you be more precise on what you want to know? Starting a dollar store is no different then any other retail business.
Find best location
Understand the best and most in demand items to stock
Find cheapest suppliers for that stock

And for gods sake don't buy your stock from another middle man wholesaler. Source your own products so you have more profit.

These dollar stores would need to move massive amounts of product to make even semi reasonable profits. Think about that before you choose that line of business.

>>2862821
That's the thing, I don't know what I want to know. This is a whole brand new thing for me. Also this is the stock website I mentioned:
http://www.dollarstoremerchandise.com

>>2862809
Has actually helped out a bit.

I'd say it's best to simply work your way up in the store you are currently working in, although I'd strongly recommend you take management courses. I'm currently a dual major for a BA in management and either financing or accounting (most of the courses overlap, so I just call myself a dual-major as there is a small amount of differences). I'm aiming more for real estate management (renting, buying, selling, etc. properties), although I have tried to set up online dropshipping businesses, but the tax firms that I contacted never responded.

Getting back on topic, I would only establish a dollar store from scratch if there is little to no competition relative to your locale (in my city, there are tons of dollar stores, some are less than half a mile apart). Make sure you are targeting lower-income areas, trying to establish a dollar store at a mid-to-upper class area will probably not be the best idea You are trying to gap the demand that people in your area need, typically lower-income neighborhoods lack businesses that provide tons of goods (in one place), you are are essentially trying to help others for a profit, via providing convenience.

>>2862821
I'm not familiar with the profit-margins of dollar stores, but I'd assume it isn't much. Although that also depends on the area, what I consider to be a little, could actually be a lot where the cost of living is cheaper.

>>2862776
What is your starting capital?

>>2862776
join this discord and say your the dollar guy, and i'll try and help you out
https://discord.gg/quWPY82