The Hidden Value a Trade Show Can Have For Your Dollar Store Business
Many who own a dollar store business fail to realize the powerful impact that attending one or two trade shows per year can have on their business. Sure, they realize the obvious benefits of viewing merchandise in-person. They even recognize that there are some great show special priced items to be snapped up before others find them. These store owners recognize the value of meeting other store owners as well. However they fail to realize that trade shows are an opportunity to take their business to a whole new level of operation. They don’t recognize the value of soliciting ideas and best known methods of operation while they are there.
Many who attend trade shows have two tasks on their agenda. The first is to quickly visit the suppliers they already know and deal with. These entrepreneurs recognize that saying hello and chatting for a few minutes helps to strengthen the ties and relationships they have already established. They also know that there are some products they routinely purchase that will be specially priced. This is a chance to stock up and to cut the cost of goods sold on those staple items. With those tasks out of the way, those store owners are ready to rest and relax for a few days before returning to the hustle and bustle of the retail world.
While both of these outcomes are important, there is much more to be achieved before abandoning the trade shows. Their dollar store business has much more to be gained by spending a little extra time at the show. You are probably saying well that’s right. Store owners need to take the time to examine other potential suppliers that they can add to their list. It might even be worth submitting a sample order to see if the supplier can deliver as is being committed at the show. And of course a sample order is the opportunity to test whether the products will even sell in your store!
But there is still more to be gained. Many of the larger trade shows offer training seminars. Any topic that offers the opportunity to cut cost, to improve operational efficiency, or to increase sales is worth attending. These seminars can provide ideas that spark significant increases in the performance of your dollar store business. But there is even more!
Trade shows are a great opportunity for dollar store business owners to meet new marketers and other store owners who are setting record performance levels. Take your business cards with you. Pass them out. Gather their business cards. Talk with those store owners and seek to understand the breakthrough ideas that they are using in their business. Collect all of the information possible. If an idea is worth the time and expense ask about visiting their store. A $200 flight to visit a store that turns out to provide $1,000’s in extra sales and profits quickly pays for itself.
Continually ask questions of vendors, other dollar store business owners, and lecturers at training sessions. See what changes are possible to make in your store. See what changes are projected to be coming to the marketplace in the near future. Use trade shows as your opportunity to take your business to the next level of performance.
To your dollar store business success!
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