The Dollar Store Franchise: A Recession-Resistant Opportunity?

The Dollar Store Franchise: A Recession-Resistant Opportunity?

Are you considering investing in a Dollar Store franchise? As a commercial contractor, we’ve renovated our fair share. Here’s our take on investing in dollar stores, as a business opportunity.

Dollar stores have been gaining popularity in recent years, and for good reason. These stores offer a wide range of affordable items, making them an attractive option for budget-conscious shoppers. If you’re considering investing in a dollar store franchise, here are some things you should know.

The right franchise

Firstly, it’s important to understand that not all dollar stores are franchises. In Ontario, for example, Dollarama and Dollar Tree are corporate-owned stores only, while others such as Your Dollar Store and More, Great Canadian Dollar Store, and Buck Or Two offer franchise opportunities. When researching different franchises, be sure to compare them to see which one works best for you.

The cost of opening a dollar store in Canada can vary widely depending on the franchise selected.

  • The size of your store location and the leasehold improvements required are the two main factors that will determine the level of your investment.
  • The franchise fee will depend on the franchise you invest with.

Make a plan

Once you’ve found a franchise opportunity that interests you, it’s time to start planning.

  • Creating a business plan is crucial to your success. It helps you determine your goals and how to achieve them.
  • Find a suitable location for your store (your franchise will often help you find a location and storefront).
  • Renovating your store is an essential step. It helps create an inviting atmosphere for customers. Working with a contractor who has experience renovating dollar stores can be extremely helpful during this process.
  • Stock your store with inventory. Again, the franchise you choose will assist you with this with a preferred vendor list.

Quick tips for investors

  • Compare franchises to see which works best for you. Franchises have different levels of investment.
  • Connect with other franchise store owners to learn more about their experiences (at least 4).
  • Ask: who holds the lease?
  • Determine what leasehold requirements are needed to open a store.
  • Work with a contractor with experience renovating dollar stores.

In conclusion, investing in a dollar store franchise can be a worthwhile opportunity for those looking for steady growth performance over the long term. When you’re ready, contact us to review your leasehold improvement requirements. We have the knowledge and experience to renovate your dollar store and protect your investment.

Call Now Button