| Frequently
Asked Questions
Q: What experience
is necessary in order to become a MyDollarstore, Inc. owner?
A: No prior experience is required. The ability to work
hard, to follow a proven successful system, and to treat
your customers and employees, as you would like to be
treated, is required.
Q: Can anyone own a My
Dollar Store franchise?
A: No. All candidates are interviewed and
evaluated.
Q: How much will it cost me to
own a MyDollarstore, Inc. Franchise?
A: Approximately $95,000-$298,000, depending on
store and leasehold requirements.
Estimated
Investment for a MyDollarstore franchise
| Size
Of The Store |
Small
3500 to 5000sq/ft |
Med
5000 to 8000sq/ft |
Large
8000 + sq/ft |
| Franchise
Fees |
$15,000 |
$15,000 |
$15,000 |
| Leaseholds |
0-24,000 |
0-
35,000 |
0-45,000 |
| POS
& Signage |
15,000
- 25,000 |
25,000-
35,000 |
45,000
-55,000 |
| Shelving |
20,000
- 35,000 |
25,000
- 50,000 |
45,000
- 80,000 |
| Inventory |
45,000
-100,000 |
75,000
-100,000 |
100,000
-200,000 |
| |
Total
Investment |
$95,000
- 225,000 |
$150,,000
-250,000 |
$205,000
-298,000 |
Q: How much
money can I make?
As a franchiser,
we are by law restricted to make earnings claims, and
cannot provide information about actual or potential
sales and operating costs. However, we will guide you to
our franchise owners who are willing to share their
financial information with you. Actual numbers will vary
from store to store.
Q:
What is your on-going royalty (franchise service fee)?
My
Dollar Store corporate
receives a 4% on-going franchise service fee based on a
franchise’s monthly gross sales.
Q: What is the
advertising fee?
My Dollar
Store does
not charge an advertising fee. We recommend owners spend
a certain percentage of revenue to market in their local
communities. We prepare a recommended quarterly
marketing plan for owners to implement in their local
market.
Q: What are
your initial fees?
My Dollar
Store initial
franchise fee is $15,000.
Q: How
long is the term of the franchise agreement?
A: Ten years with an option to renew for another
term of ten years for a nominal renewal fee and no
franchise fee.
Q: Can I own more then one
store and what is the cost of the other locations?
A: Absolutely. We encourage existing store owners
to own additional franchise.
Q: Where do I purchase my
inventory?
A: MyDollarstore, Inc.
owners are part of a very special, large wholesale
buying group. Our wholesale division Dollarstore.com/wholesale
deals directly with some of the nation's largest and
best importers and manufacturers of low-priced
merchandise. You can get everything you need for your
store from our wholesale division:
Holiday, Seasonal,
Promotional, Closeouts, House-wares, Toys, Party
Supplies, Cleaning Products, Cards, Balloons, Pet
Products, Baby Products, Ceramics, Candles, Jewelry,
Heath and Beauty Aids, Novelty, Hardware, Electronics,
Hair and Nail Accessories, Sunglasses, Reading Glasses,
Vitamins and Herbs, Snacks and Candy, and much, much
more!
Q: What training will I
require?
A: MyDollarstore, Inc.
will offer on-the-job training in your store or
one of our area franchise stores.
Q: What skills
make a good owner?
Generally, good
management skills, good people skills and good team
building skills combined with the drive to succeed and a
passion for delivering uncompromising customer service
are valuable in managing a My
Dollar Store
Q: Will I receive assistance in
finding locations and negotiating leases?
A: MyDollarstore, Inc.
will approve a location of your choice or help in
finding a location as well as assist you in lease
negotiations if required.
Q: Will I have opening support?
A: MyDollarstore, Inc.
will provide opening support. Two people will be on site
at the end of the construction to set up merchandise and
assist in opening the store.
Q: Will I have layout and
construction support?
A: MyDollarstore, Inc.
will advise, assist and approve your store leaseholds
and layouts.
Q: Can I sell my store?
A: Yes, the new franchisee must be approved
through the same system that you have been through.
Q: Do I receive a protected
territory?
A: Yes, you have the rights to operate the only
My
Dollar Store in a particular area as
defined by the franchise agreement.
Q:
What is the next step for owning a MyDollarstore, Inc.
franchise?
A: Follow these simple Steps:
(1) Have sufficient interest
(2) Have sufficient capital
(3) Print this entire web site
(4) Write a list of questions for us to answer
(5) Contact
us. and request a brochure
(6) Complete net worth statement and return
(7) Complete a personal profile and return
(8) Arrange an interview
(9) Receive franchise agreement..
Request
for Information
We’d like to
share more information with you about the benefits -
short and long term - of owning a My
Dollar Store franchise.
Please contact Director of Franchising, at
(949)261-7488, or complete and
submit
the form online
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© 1996 My Dollarstore, Inc.
All rights reserved. |
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