Pound shops

[Topbanana]

A friend of mine is considering opening a pound shop. Retail isn't my scene, but I think now would be a good time to open one or two.

Does anyone have any experience or knowledge of doing this?

Thanks

[jane p]

we have quite a few already where i live.

[MH1]

99p stores are taking over where I am, so I guess 98p stores is the way to go now :D

[deniser]

All 3 in our town have closed down in the last year. They had been there for years previously. Maybe not such a good business after all?

[PaddyPawsPetServices]

there are 2 of them that I know of in Sittingbourne, weirdly I find Wilkos to still be cheaper!

[silvermusic]

The concept of pound shops is good provided people are paying less than they would, places like poundland tend to get overstocks, bankrupt stock, ends of lines which are being sold cheaper than normal. However, there's too many IMHO that are selling stuff that's either more expensive than it should be to sell it at the magic £1 price or items at which around a pound is the normal price anyway, these tend to be the one's that fail. Poundland in recent years has moved to a mixture of both of these methods.

[scribe]

Definitely not quality gear from pound land!!!!!!!!!!!!!!!!!!

[cal900]

I notice Asda have decided to have 100's of pound items, how can anyone compeat with that......

[.Spiralling.]

We've had several large pound shops over the last few years. They've all closed in the end, although there always seems to be someone ready to give it a go, so a new one always opens somewhere else in town a couple of months later. None of them seem to last more than a few months now.

[Rhyl Lightworks]

I think the present climate is not good for pound shops. When people had money in their pocket, they could fritter away a few pounds on junk. Now they have to be more careful on how they spend their money, and most people realise, in general, that you get what you pay for.

Barrie

[dingbat]

Many open up as pound shops but are no cheaper than a supermarket. And don't think because a store has closed down that they didn't make any money. I knew someone who ran a similar outfit and all he did was get cheap short term rental for vacant shops so had to eventually move on.

[Martin P]

You'd need to have a high t/o. That's what'd put me off. Think realistically how many items you'd need to sell per day/week/month to cover your overheads - on what is probably low margin stock

[glennmid101]

The pound shops in leeds are thriving, we have two in the city centre
There is some tat in the shops, but bargains as well,

[Faith28]

An 89p shop closed locally in ilford but a 99p shop has taken over the old blockbuster video store a couple of years ago. Still there are 2 open in the shopping centre.

I don't go into these stores as it's just a headache for me with 2 kids and cramped isles.