Dollarama Franchise Startup Cost, Revenue and Profit Margin
Are you interested in starting a Dollarama Franchise Canada?
If you are among the many people who have conducted their little research regarding the required startup investment and other requirements to franchise a Dollar store, I suppose you must have realized how relatively difficult and time-consuming it is to find any relevant information concerning how to become a Dollarama franchisee.
You will also realize that most of the information you are looking for is only sparsely available to the general public.
However, in this post, I have compiled all the available details and information regarding the Dollarama Franchise and how you can go about starting your Dollarama Franchise in Ontario, Calgary, Alberta or Toronto. I hope this goes a long way towards giving you a head start.
About Dollarama Franchise Canada
The Dollarama Franchise was first founded in Quebec, Canada by Larry Rossy in the year 1992.
It first started as a unit store and later grew into a private corporation. Today, it continues to grow, having more than 1000 stores in all ten provinces of Canada. Its headquarters is located in Montreal, Quebec, Canada.
The Dollarama Franchise is a company that is traded publicly and the company’s shares trade on the Toronto Stock Exchange as “DOL”. In 2009, it became the largest retailer of products sold for $4 and less in Canada and had since remained number one.
Dollarama for Sale in Ontario
They have their stores in Ontario, Manitoba, Newfound Land, and other areas in Canada. The Dollarama Franchise has its stores located in areas that are easily accessed by people. This gives them a competitive advantage and also provides their customers with easy access to their stores instead of traveling great distances to get to their stores.
They offer a variety of products that range from grocery, kitchen wares, cleaning supplies, gardening equipment, clothes, shoes, and a whole lot of other products. Most of the products offered for sales by Dollarama Franchise are customized products that they get directly from manufacturers. This could be seen as most of their products have Dollarama’s brand name appearing on the product labels.
The Dollarama Franchise was founded based on the increasing demand of people looking to buy quality items or products at a cheap price rate. The Dollarama Franchise is different from other stores that offer products at prices that are not easily affordable by consumers. They offer items or products that are $4 or less in all of their stores in Canada. You could walk into any of the stores and get anything you want at a price rate of $4 or less.
In the initial stages of their business, the Dollarama Franchise offered the sales of almost all their products at a price rate of $1 or less. It was not until early 2009 that they started offering the sales of products at a fixed price rate of $2 or less. One could find products at $1.25 and $1.50.
The positive response from their customers geared them to start offering sales of products up to $3 in August 2012. Customers were able to purchase products at $2.50 and $3. It was in August 2016 that they finally settled at the current $4 or fewer price rates of products.
For payment of purchased items, the Dollarama Franchise currently does not accept credit cards. Payments are accepted only in cash and in Interac debit cards.
In earlier years, payments were only accepted in cash until 2008 where the Interac debit cards became added as a payment option. In 2015, Dollarama Franchise started supporting contactless Interac Flash payment as well.
At present, Dollarama Franchise does not accept credit card payment, but they, however, announced that by the end of the summer of 2018, they would start accepting the credit card as a payment option.
Aside from the sales of regular products, Dollarama Franchise also offers sales of special products on special occasions or festivals such as Halloween, Christmas, and New Year festivals.
The Dollarama Franchise does not currently offer online sales and order, so customers cannot order for products online. But their website can help customers locate the nearest Dollarama Franchise.
The Dollarama Franchise boasts of annual sales revenue of $2.9 billion as of 2016. In 2016, the net income of the company was about $445.6 million. Also in 2016, the number of Dollarama Franchise employees reached somewhere around 20,000.
How Much Does it Cost to Start a Dollarama Franchise?
There is currently no public display of detailed information regarding the required startup investment to join the Dollarama Franchise. If you are so interested in joining the Dollarama Franchise, you will have to request for more information when you contact them to join. You should prepare around $120,000 as of the total investment cost.
Dollarama Franchise Opportunity Benefits and Training
As one of Dollarama Franchise franchisees, there are several benefits you stand to enjoy. One of such key things you stand to benefit as a franchisee is:
• A stimulating and varied working environment, where you enjoy the benefit of developing a set of retail and management skills that will help your business.
Dollarama Franchise Requirements of the Ideal Candidate
The Dollarama Franchise is looking for individuals who are energetic and enthusiastic about joining them.
How to Open Dollarama Franchise
If you are interested in the Dollarama Franchise, there is only one step you simply have to take first, which is to visit their website on www.dollarama.com and request for more detailed information or contact them on the email address available on their website.