Pound shops

D

Deleted member 38924

• Mar 20, 2009

• Original Poster
• #1

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

 

J

jane p

• Mar 20, 2009

• Original Poster
• #2

we have quite a few already where i live.

 

Upvote 0

M

MH1

• Mar 20, 2009

• Original Poster
• #3

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

 

Upvote 0

deniser

Free Member

Jun 3, 2008

8,081

1,697

London

• Mar 20, 2009

• #4

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?

 

Upvote 0

P

PaddyPawsPetServices

• Mar 20, 2009

• Original Poster
• #5

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

 

Upvote 0

S

silvermusic

• Mar 20, 2009

• Original Poster
• #6

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.

 

Upvote 0

S

scribe

• Mar 20, 2009

• Original Poster
• #7

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

 

Upvote 0

C

cal900

• Mar 20, 2009

• Original Poster
• #8

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

 

Upvote 0

S

.Spiralling.

• Mar 20, 2009

• Original Poster
• #9

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.

 

Upvote 0

R

Rhyl Lightworks

• Mar 20, 2009

• Original Poster
• #10

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

 

Upvote 0

D

dingbat

Free Member

Nov 28, 2006

994

138

• Mar 20, 2009

• #11

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.

 

Upvote 0

M

Martin P

• Mar 21, 2009

• Original Poster
• #12

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

 

Last edited by a moderator: Mar 21, 2009

Upvote 0

G

glennmid101

• Mar 21, 2009

• Original Poster
• #13

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,

 

Upvote 0

Faith28

Free Member

Dec 2, 2005

2,111

150

London

• Mar 21, 2009

• #14

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.

 

Upvote 0