Businesses like the Dollar Tree Franchise and similar retail franchises are popular for both bargain shopper consumers and potential franchise owners. These stores tend to be in smaller communities that aren’t suited to bigger discount retailers. Dollar General now states that 3 in 4 Americans live within 5 miles of one of their locations, and they’re just one of many such retail chains.
Discount or “price-point” retailers remain relevant to consumers and are significantly less prone to seeing sales eroded by ecommerce businesses. As a type of franchise to own, however, it’s important keep in mind that dollar stores have many of the same characteristics of other non-food retailers.
Startup costs in retail are higher than, for example, some home services franchises that can be operated from a home office. Location is critical, and for dollar stores that means choosing a site in a smaller and often lower-income community that may be a bit of a commute for some owners. Finding, training, and retaining employees in retail can be challenging as well. However, the successful franchises in the retail category (or any other) will have demonstrated that they have proven systems in place to help franchise owners through operational issues that are often more difficult to navigate for independent businesses.
Consider all your options when exploring franchises to buy. Think about what your life will be like as an owner/operator of different types of franchises. There are many other factors you can evaluate to help you decide which businesses may be the right franchise for you.
Categorised in: franchising trends