Buying dollar store items can save you even more money.
Whether economic times are good or bad purchasing items at a dollar store can help you save money. Dollar stores traditionally sell a wide variety of products for a buck. You might find discounted party goods, canned items and even a pair of flip flops to wear during the summer heat. A dollar store may also sell items that are slightly higher or lower in price. If you want to open your own dollar store or just sell similar items occasionally without buying them at a dollar store there are many ways to accomplish this task.
Instructions
1. Get a Federal Tax Identification Number. A FTIN is a number given by the IRS and used by businesses. Using a FTIN identifies you as someone who is in the business of buying and selling. Even if you don't plan to sell many dollar store items acquiring one may be helpful when dealing with dollar store wholesalers. You can apply for a FTIN at the IRS website. The number will help you separate out your business and personal expenses and make bookkeeping easier.
2. Buy from wholesalers. A wholesaler is a company that sells items at a discount to suppliers. Wholesale suppliers to dollar stores offer a wide variety of items at as much as a 50 percent discount. Some companies will require you to have a FTIN. Others let all members of the public buy from them.
3. Work with a distributor. A distributor is a company that gathers wholesale merchandise in one place. Working with a distributor can be very useful for the dollar store seller. Products vary greatly. Some wholesalers specialize in food items while others specialize in written material, greeting cards or seasonal items. A distributor may have all these items in one place. While a distributor often has slightly higher prices than a wholesaler, it may be worth it for you if you can save on traveling costs from store to store. Some distributors may also be wholesalers as well.
4. Buy from online merchants. If there are no dollar store wholesalers nearby, you can often buy products from wholesale warehouses online. An online store often has the same merchandise that you would see on the shelves of the store. Some online merchants will ask for a FTIN while others do not. Factor in shipping costs and consider buying in bulk especially if you think an item will sell quickly.
