Dollar Stores FAQ
- Can anyone own a Your Dollar Store with More franchise?
- All candidates are interviewed and evaluated. Only the people with ambition to succeed, sufficient liquid assets and who are team members will be chosen. This is to ensure the success of the franchisee and the continued success of the franchisor.
- How much will I need to invest?
- The size of your store location and the leasehold improvements required are the two main factors that will determine the level of your investment. Outlined below are the approximate ranges of investment capital required to open a store.
| Estimated Investment With Your Dollar Store With More | ||||
|---|---|---|---|---|
| Small 2000 - 3000 ft² |
Medium 3000 to 6000 ft² |
Large 6000 to 10000 ft² |
||
| Franchise Fees | $20,000 | $20,000 | $20,000 | |
| Leaseholds | $0 - $81,000 | $0 - $117,000 | $0 - $180,000 | |
| Equip & Signage | $6,000 - $12,000 | $7,000 - $14,000 | $8,000 - $16,000 | |
| Shelving | $12,500 - $25,500 | $25,500 - $40,000 | $40,000 - $60,000 | |
| Inventory | $60,000 - $100,000 | $90,000 - $160,000 | $160,000 - $240,000 | |
| Opening Support | $5,000 - $7,000 | $7,000 - $12,000 | $12,000 - $16,000 | |
| Total Investment | $128,500 - $295,500 | $215,000 - $406,000 | $297,500 - $626,000 | |
- Are there ways to reduce my investment into a new store?
- Your Area Franchisor is very experienced in getting your store opened as cost effectively as possible and they have identified several areas where cost savings can be achieved. The Area Franchisor will work with you and outline several options such as leasing your shelving and exterior signage, doing some of your own leasehold improvements and taking advantage of 90 terms and early payment discounts from suppliers.
- Do you have a financing program available?
- We have partnered with a major Canadian Banking Institute with a proven track record for providing financing to many of our franchisees. Your Area Franchisor can provide you with additional information regarding this program.
- How much is the franchise fee?
- $20,000 plus G.S.T.
- How much are royalties each month?
- Royalties are 4 percent of gross sales (minus taxes) due and payable monthly along with a half percent to the National Advertising Fund (NAF).
- What is the National Advertising Fund?
- The National Advertising Fund or NAF was established to assist franchisees in marketing their store. The purpose of the NAF is to build name recognition, increase store traffic and generate additional sales. We are one of the only dollar store franchises that operate a National Advertising Fund for their franchisees.
- How long is the term of the franchise agreement?
- The franchise term is 10 years, with an option to renew for another 10 year term at a $2,000 renewal fee.
- Can I own more then one store?
- Yes, in fact many of our franchisees own and operate more than one Your Dollar Store with More franchise.
- Where do I purchase my inventory?
- Your Dollar Store with More franchisor will assist in purchasing your opening inventory. You will be introduced to a core group of suppliers who have well established track records for providing the most effective inventory. Twice a year we hold a Trade Show that is exclusively for Your Dollar Store with More franchisees. This is a great time to meet with suppliers and check out the extensive selection of inventory they have to offer.
- Will I receive assistance in finding a location and negotiating a lease?
- Your Dollar Store with More will approve a location for you to choose from or help in finding a location. Once a location is found, we will assist you with the negotiation of your lease.
- Will I have opening support?
- Two experienced professionals are on sight at the end of construction to help you receive and set up merchandise. They remain on site until the store is open.
- What training will I require?
- Your Dollar Store with More provides on site training to franchisees and managers for one week after opening. Once you are operating your store, there will be ongoing support and training provided by the Retail Specialists who will schedule visits to your store throughout the year.
- Will I have layout and construction support?
- Your Dollar Store with More will advise, assist and approve your store leaseholds and merchandise displays.
- Can I sell my store?
- Yes, the new franchisee must be approved through the same system that you went through.
- Will I receive a protected territory?
- Yes, you have the right to operate the only Your Dollar Store with More in any shopping mall, plaza or downtown location in an area that is protected around your store.
- What is the next step to owning a Your Dollar Store with More franchise?
- Contact the Area Franchisor for your region. For a list of our Area Franchisors visit our Area Franchisors listing.