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Opening a new discount store

  • 15-08-2012 6:17pm
    #1
    chargerman
    Closed Accounts Posts: 152 ✭✭


    Hi All,
    I am thinking of opening a new discount store in my home town. I have excellent experience in retail management. Just wondering if anyone has any advice on costs and other advice in general

    Cheers


Comments

  • #2
    highlandseoghan
    Registered Users, Registered Users 2 Posts: 456 ✭✭highlandseoghan


    Can you go into more detail about what costs you are looking for?
    Is it a big town what sort of population?

    Discount stores / 2 euro stores are doing huge business at the moment and sales are going very strong for the past 3 years.


  • #3
    chargerman
    Closed Accounts Posts: 152 ✭✭chargerman


    I was looking at a unit so know what rent to expect, I have experience doing wages so know what to expect there too. Did a provisional order for stock - so again prepared there. Just don't know how much it would cost for the likes of shelving, security, and dont know what other costs I am forgetting about. I know I will have rates too


  • #4
    highlandseoghan
    Registered Users, Registered Users 2 Posts: 456 ✭✭highlandseoghan


    Is the rent at a good rate? The key to making money will be to negotiate rent as low as you can. You will have commercial rates this will be charged on the size of the unit. You will have electricity and staff wages, (heating, music) will you have heat and music on in the shop.

    Advertising
    Stock
    Shop fit out
    Security / cctv
    Insurance

    The unit that you are looking at presently is it an empty shell or was it a shop previously? If it was a shop you might not have to spend too much if its an empty shell you will need a complete fit out. You can spend as little or as much on advertising it depends on your location. If you have great passing trade you could get away with not spending too much. Shelving and display units could be picked up second hand. At the moment there is good second hand shop fittings going around. Check out adverts, donedeal, buy and sell etc.... Look at shops in your area that are closing down and talk to the owners they might do a deal with you.

    What part of the country are you thinking about opening? Is there any competition near where you are looking at?


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