Start an all-in-one shop
The 1 euro all-in shops in recent years have been a real boom, in fact the shelves offer the possibility to buy thousands of items below cost. Objects for the kitchen, to those of the hygiene of the house and of the body, up to the most strange objects that, in spite of not being of absolute need, considering the price, usually are acquired. In this guide we will understand how to open an all-inclusive shop for 1 euro.
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Why open an all-you-can-eat store for 1 euro?
Generally, this type of activity is related to a franchise, and is based on the internal regulations of each chain when starting the business. Normally, once the store is opened, it is good to try to bring as many items as possible into your own display.
How do you open an all-inclusive store for 1 euro?
Opening an all-euro store is quite easy, in the sense that it is usually franchised.
To open an all-in-one shop you need to have the talent to evaluate and analyse different aspects: it is important, first of all, to have a warehouse, with the help of the sales statistics held by the franchise’s mother company. The exposure of the products in the store, then, plays an important role.
What does it take to open a 1 euro store?
An environment of at least 45 square meters of exhibition space, located in the avenues and streets not necessarily central, but with high pedestrian traffic. It could even be in the shopping malls, but watch out for the rents. A good sign visible to the passer-by is a must.
How much does it cost to open an all-you-can-eat store for 1 euro?
The investment obviously depends on the square meters of the room, from the rent of the same and other factors more or less secondary.
We can say, however, that to start a shop of this type you need at least 25,000 / Euro 30,000. A figure that includes the first delivery of the goods and the preparation of the premises (excluding masonry and other structural changes of the location).
The main advantages of this type of store are the convenience and richness of the offer. You can find everything at low prices.
The defects are mainly the suppliers; these are fundamental. The continuous replacement of products is important to ensure the sale of products exponentially.
Franchising helps in this sense, as it allows you to be part of an initiated and consolidated network. Having a network of suppliers is of strategic importance in the running company.
The choice of the brand you join depends on several factors. The reasons behind the franchise (franchisee) to choose the franchise are different among them, undoubtedly the most important are:
Franchising is a calculated and limited risk investment business.
Use of the sign and a concept already known in the market.
Continuous education, both in the initial part and management.
Transmission of knowledge by the franchisor.
Advantages of having an all-in-one shop
The 1 euro store is famous for the economic threshold that exists at the time of acquiring a product, that is to say the illusion of the economic for the client, stimulating that this one ends up spending much more of his destined budget, representing an excellent margin of profit in the process.
The articles of 1 euro are extremely varied, so you can supply your business on a large scale with a wide variety of items that attract the attention of the consumer and for its economy will most likely buy, so you will always have sales every day.
Many of these items are smart purchases because they solve problems at home and to the consumer for little money. So, many people come to these stores looking for affordable solutions.
Tips for starting an all-you-can-eat store
It is advisable to make your business known, doing good advertising or, failing that, to establish the premises in a central location with a large influx of people, so that the passer-by notices your business and does not resist entering, paying attention to the constant offer of being able to take what he wants for only 1 euro.
The business can be set up in a shopping centre or in a shop overlooking the street, choosing the most frequented for its placement. Ensuring a comfortable and fresh working environment, under the safety and security of a closed location unlike other business models, whose performance is developed in a more open way.
One of these recently successful stores is Dealz, because 60% of the references that occupy its shelves are of well-known brands and have a closed price of 1.5 euros. In this supermarket-bazaar, you can find drinks, food, drugstore, stationery, bathroom, decoration. Therefore
Dealz sells everything but fresh produce.
Muebles Boom, is another successful company in this market with the sale of furniture at one euro a piece, only for the first 250 people who enter the stores every day. And every day in all their stores they place these offers.
Problems that may arise
Because you are working with products that are worth only 1 euro each, you need each customer to carry an average amount of products in order to make a profit, you may end up thinking that you are earning in cents so you must be focused on the economy and the projection of the ledger.
Many items that sell for 1 euro may be of poor quality, so there is the possibility of complaints from customers and possible returns.
Inconveniences that may arise: The competition from this type of business is usually very high, since businesses such as: supermarkets, mini-markets, neighborhood stores and other businesses that have similar items to those we sell. Although we have a substantial point in favor that are the prices, it is important to consider the competition we have to be always at the forefront with advertising, promotions and announcements.
Final recommendation: If you have a franchise, it will indicate the amount of products you can buy according to the level of investment you have, however, the key is to analyze what are the most demanded products in the area where you are to respond to the need properly.