Provide an overview of your industry. Include reasons why it's a great industry to start a business in today.
A dollar store offers great products at low prices. Why buy a gift bag for $5.99 when you can purchase one at your dollar store for $1.50? Most people are very price conscious today and watch where they spend their hard earned money. Great Canadian Dollar Store is a business that remains healthy in good times as well as in down times.
How has your industry changed in the last 10 years? 20 years?
Product lines have expanded, stores are getting larger.
What trends do you see in your industry over the next 5 years? Next 10 years?
The trend now is for larger stores , but due to increasing occupancy costs, stores may reduce in size in the next 10 years. In the Canadian market, we see stores stocked with more consumables, especially in food and health and beauty item (such as cough/cold medicine, ASA products, allergy medication and vitamins) categories. There will be more brand items that are produced and packaged for the dollar store industry. A variety of fashion items will also become more commonplace (expanded beyond t-shirts, mittens and socks) and will include shirts, shorts, skirts and dresses.
Why do you think your company stands out in the industry?
We have built a national reputation during the past 20 years based on integrity, quality and exemplary support and service to our franchise members and suppliers.
What makes your franchise opportunity more attractive than your competitor's?
The support and guidance provided to our franchise members. "Working together for success", is something we truly believe and practice.
Describe the ideal candidate. Do you think your requirements are any different than your competitor's?
We search for people who are team players, and who are able to work within a proven system. Our franchise members don't necessarily need previous retail experience but our most successful people come to us with good business or management skills, are energetic and success oriented.
What's the strongest skill you require in a candidate?
Desire to succeed, though not really a skill is one of the most compelling attributes.
Describe the working environment of your franchisees (indoors, home office, mobile, etc). Is your environment typical of other companies in your industry?
Our stores are clean, bright and tidy and are staffed by people wanting your shopping experience to be above expectations.
Why has your company been successful?
Sound business practices based on our core values of honesty, integrity, and respect, that along with our excellent management team.
What advice would you give someone interested in buying a franchise in your industry?
Conduct your due diligence, do your homework and research, research, research.
How much experience in this industry should a franchisee candidate have before they consider buying a franchise in your industry?
Strong business management skills are more important than retail experience. The desire to succeed is of the utmost importance.