Frugal Living Tip: What’s Your Financial Forecast?

09/25/200902/01/2019Leave a comment

Every businessperson should have some method of keeping track of spending to make sure that expenses don’t outstrip income, [b]ut a new web tool called PocketSmith highlighted over at Wise Bread goes beyond tracking past expenditures to actually predict future spending and savings with its forecasting capabilities.

So let’s say you’re hoping to save up for some a big business expansion or remodeling project. PocketSmith will look at your past spending patterns to give you an idea of how long it might take for you to save up the money you need for your big expense.

If you’re not happy with how long PocketSmith predicts it will take you to reach your financial goals, the program lets you see the [im]pact you’d get from tinkering with your current spending patterns.

Do you think a program like this might be helpful for your business? How have you gone about accumulating the cash for major capital expenses?

Small-business Advice: Prudent Discounting

09/16/200902/21/2019Leave a comment

Welcome to the DollarDays Blog! We’re excited to bring you a combination of original features and commentary on the most useful and thought-provoking small-business-related content from around the Internet. Over the next few months, you’ll see us post several stories per week on a variety of topics, including:

Small-business advice
Small-business expert interviews
Small-business profiles
Frugal living tips

Every Wednesday, we’ll also highlight a “Product of the Week,” a special item at an extra-low price from the DollarDays inventory, plus, from time to time, we’ll run special promotions where blog readers will have a chance to win exciting prizes.

Above all, we want this blog to be useful to you. We want it to be a lively community that helps entrepreneurs and businesspeople save money, grow their businesses, get inspired, and have some fun! If you have any ideas on how we can make this blog even better, please don’t hesitate to leave a comment or send us an email.

Meanwhile, for this first post, we’d like to highlight a story we found online at BusinessWeek by Steve McKee that [discusses] the potential downside to discounting. In recessions like the one we’ve been facing, your customers may be strapped for cash, and you’ll be tempted to cut prices to boost sales, but McKee notes that excessive discounting can actually wreck brand value and plunder your profit margins. So how can we discount smartly? McKee suggests limiting discounts to specific time periods or certain customer groups (i.e., students and seniors). Another option, he points out, is to adjust your product mix—carrying lower-priced products but not slashing the prices on your high-end items.

We’d love to hear about your experiences with discounting. How have you used discounts to stimulate sales while protecting your brand and your profits? Or do you have any cautionary tales about the risks of customers who get hooked on discounts and soon refuse to buy anything that’s not on sale?

DollarDays Reports Highest One-month Sales Increase

08/28/200602/22/2019Leave a comment

DollarDays, the Internet’s leading product wholesaler to small businesses and local distributors, today announced the highest one-month sales increase in the company’s history.

DollarDays reports July 2006 revenues increased 96% over July 2005 revenues, setting a new one-month record. In addition, orders increased 80% in July 2006 over July 2005. Over the past year, more than 320,000 new customers have registered on the site.

DollarDays is an online wholesaler that provides more than 30,000 products in small caseloads to help small businesses compete against large retailers and chain stores.

“Small businesses are the core of the American economy, and DollarDays helps these companies succeed,” says Marc Joseph, CEO of DollarDays. “We provide a variety of products at a great value, but we also provide merchandising assistance and overall stellar customer service. We look forward to additional growth as more companies learn about us.”

As a result of its tremendous growth, DollarDays made its debut at No. 158 on Inc. Magazine’s 500 list of fastest-growing private companies.

According to the publishers of Inc., “[T]hese companies are where the action is—they’re leaders with cutting-edge business models whose rapid growth shows that they figured out how to meet the most pressing needs of today’s economy.” In addition, “[D]ata from investment research firm Morningstar shows that only 33 publicly traded U.S. companies show three-year revenue growth higher than the 500th company on this year’s list.”

Earlier this year, […] DollarDays also was named one of 50 second-stage Arizona “Companies to Watch” by the Arizona Small Business Association.

About DollarDays
Founded in 2001, DollarDays is the leading supplier of wholesale goods for nonprofits, businesses and betterment organizations. By sourcing affordable products, backed by exceptional service and meaningful community engagement, we strive to inspire and empower our customers to accomplish their missions to improve the lives of people around the world. Recognized as the City of Phoenix Mayor’s Office “2018 Product Exporter of the Year” and Internet Retailer Magazine’s “B2B E-commerce Marketer of the Year” for 2016 and 2017, DollarDays is headquartered in Phoenix, Arizona. For more information, visit www.dollardays.com.

Survey Results Show Increased Gas Prices Hurting U.S. Small Businesses; Owners Seeing Change in Revenues

06/06/200604/09/2020Leave a comment

More than 85% of small-business owners polled expect a change in revenue as a result of increased […] gas prices, with most of those already feeling the pinch, according to a survey conducted [by DollarDays] throughout the month of May.

DollarDays is a premier Internet-based product wholesaler to small businesses and local distributors. The poll was featured on DollarDays.com and in the company’s online newsletter. The company frequently polls its customers about topical issues.

According to the results, 86% expect a negative effect on their revenue as a result of increased gas prices, with 71% already seeing a change. Eighty-three percent say they are very concerned about how these prices will effect their bottom line, and 86% say it’s getting harder to be a small business.

According to AAA statistics released at the end of May, gasoline prices are at a record $2.93 nationally, 34% higher than a year ago.

“Gas prices are already outrageous, and we’re headed into the summer and hurricane months where prices typically increase, so it’s no wonder that small-business owners are worried,” said Marc Joseph, President and CEO of DollarDays and author of “The Secrets of Retailing…or How to Beat Walmart.” “Small businesses are the backbone of the economy, so we’re helping our clients to better merchandise and market their companies to make up for decreased revenues. It’s a scary time.”

Survey results include:

31% of small-business owners will have to lay off employees if their revenues continue to change, while 64% say they won’t;
5% of employers are offering financial supplements to help their employees as a result of increased gas prices, while 93% aren’t;
55% of the businesses will suffer if tourism decreases, while 43% will be okay; and
71% of small-business owners have changed their personal travel plans as a result of gas prices.

Joseph encourages small retail stores to carry desirable and high-margin items to help increase profit. In addition, he highly suggests that small retailers offer their customers a website where they can buy items so that customers can shop without having to drive.

“Online stores are a great way for consumers to save money since they don’t have to pay for gas to drive to the store,” said Joseph. “It’s also smart for retailers, as they can expand their sales beyond their neighborhood.”

DollarDays Named an Arizona Business to Watch

06/05/200602/22/2019Leave a comment

DollarDays, a premier Internet-based product wholesaler to small businesses and local distributors, was named one of 50 second-stage Arizona companies to watch by the Arizona Small Business Association (ASBA) and the Edward Lowe Foundation, a not-for-profit […] foundation whose mission is to “champion the entrepreneurial spirit.” An award was presented to DollarDays’ CEO, Marc Joseph, at a gala at the Arizona Biltmore Hotel. This is the first time the ASBA has presented “Company to Watch” awards.

“It’s an honor and achievement to be named a ‘Company to Watch,'” said Joseph. “DollarDays is growing rapidly, and, although our customers are worldwide, we’re helping to grow the Arizona economy, and we’re proud of that. We expect continued growth at a record pace.”

“I am pleased and proud to congratulate this inaugural group of 50 ‘Companies to Watch’ in Arizona for 2006. These vital businesses are growing second-stage companies and are key components of the engine that drives our economy forward. They create new, sustainable jobs each year, and they are innovators that are willing to take significant, but calculated, risks to produce new products and services,” said Arizona Governor Janet Napolitano.

The defining characteristics of second-stage enterprises for the Arizona Companies to Watch program are annual revenue or working capital of between $1 million and $100 million, 10 to 100 employees, and the “intent and capacity to grow.” Second-stage companies are past the startup phase; are generally concerned with issues of growth, not survival; and have not yet become large corporations. Such enterprises are important economically because they create a substantial portion of the net new jobs each year.

More than 280 companies were nominated or applied for the award. Of those companies 108 were selected by the Edward Lowe Foundation and ASBA for the next round of judging. In early April, 12 appointed judges selected the final 50.

Grandmothers Also Primary Recipients of Mother’s Day Gifts

05/09/200602/22/2019Leave a comment

Small-business retailers say that grandmothers, not just mothers, are […] beneficiaries of Mother’s Day gifts, and most people buy their gifts the week before Mother’s Day, according to survey results released today by DollarDays.

DollarDays is a premier Internet-based product wholesaler to small businesses and local distributors. The poll was featured on [the company’s website] and gauged the Mother’s Day sales cycle for small businesses.

“The look of a traditional family is changing,” said Marc Joseph, CEO of DollarDays. “More and more people want to recognize those who have had an impact on their lives, regardless if their technical name matches the holiday.”

According to results, 43% of retailers say their customers will buy flowers for their mom or grandma, followed by cards (20%).

The survey also shows that most people buy their gifts in advance. More than half (53%) are buying Mother’s Day items one week in advance, compared to 6% that will buy the day of. In addition, 60% of retailers said Mother’s Day is a profitable holiday for their stores, although not as profitable as Christmas or Valentine’s Day.

Joseph adds, “While many consumers complain about celebrating these ‘Hallmark holidays,’ small businesses reap the rewards and so do our loved ones.”

This survey is part of an ongoing series of DollarDays questionnaires that gauge the attitude, opinion and general business conduct of small retailers nationwide.

Unmarried Couples Buy More Valentine’s Day Gifts Than Married Couples

02/06/200604/09/2020Leave a comment

Small-business retailers say they sell more Valentine’s Day gifts to people buying for their boyfriend or girlfriend, and most of the sales take place the week before Valentine’s Day, according to survey results released today by DollarDays.

DollarDays is a premier Internet-based product wholesaler to small businesses and local distributors. The poll was featured on DollarDays.com and in the company’s online newsletter.

“For years, DollarDays’ sales associates have helped retailers stock their stores with gifts and other Valentine’s Day novelties, but we were curious about their customers’ buying habits,” said Marc Joseph, CEO of DollarDays. “According to these survey results, Valentine’s Day is an important retailing holiday with specific demographics, and carrying unique items geared toward their customer can help stores compete against small and big-box retailers.”

According to results, 56% of retailers say Valentine’s Day is a big selling period for their store, with just over half (51%) saying it’s bigger than Mother’s Day.

The survey also shows that 43% are buying Valentine’s Day items for their boyfriend or girlfriend, compared to 26% for spouses and just 11% for friends. [Sixty-nine] percent of the store customers buy the week before Valentine’s Day.

“These statistics are interesting,” said Joseph. “Waiting until the last minute to buy a Valentine’s Day gift gives the unmarried sweethearts the opportunity to change the recipient of their affection. Retailers need to carry more lighthearted items that don’t put too much love pressure on a couple.”

In addition, retailers note that only 16% of customers complain about having to buy a Valentine’s Days gift compared to 82% who say they actually like shopping for this occasion.

17% stuffed animals
16% gift baskets
15% flowers
13% chocolate candy
11% jewelry
10% adult cards
10% boxed cards for children

This survey is part of an ongoing series of DollarDays questionnaires that gauge the attitude, opinion and general business conduct of small retailers nationwide.

Retail Expert, Author to Lead Entrepreneurship Presentation at Changing Hands Bookstore in Tempe

08/02/200502/22/2019Leave a comment

Retail expert and author Marc Joseph will discuss how small-business owners can compete against big-box retailers when he presents and signs his new book, “The Secrets of Retailing…or How to Beat Walmart” at the Changing Hands Bookstore in Tempe, Ariz., on Thursday, August 11, at 7:00 p.m.

Books will be available at the event for purchase and signing. Changing Hands is located at 6428 South McClintock Drive.

In “The Secrets of Retailing…or How to Beat Walmart,” Joseph details how small businesses can compete and even win against Walmart and other giant retailers that move into their towns. Additionally, Joseph provides expert advice to independent retailers on the nuts and bolts of starting a successful retail chain, from the psychology of buying merchandise and hiring employees to working successfully with vendors and promoters.

“This book is based on my first-hand experience in competing against Walmart and also being a supplier to Walmart,” Joseph said. “When readers complete this book, they will be armed with the information and motivation to not only survive and thrive in the shadow of Walmart, but to go up against any chain store.”

Joseph, who is president of DollarDays, the largest online wholesaler for small businesses and nonprofit organizations, was inspired to write “The Secrets of Retailing” as a result of counseling hundreds of DollarDays customers, most of whom were small retailers worried about facing increased competition from newly opened big-box retailers. Although many small retailers complain that big-box retailers like Walmart lure customers with “loss leader” pricing on some merchandise, Joseph says small retailers can triumph in the long run.

Author Says Retail Businesses Can Beat Walmart, Other Big-box Retailers

03/15/200504/09/2020Leave a comment

Access to smaller quantities and unique products, more personalized customer service, and a controllable overhead are a few of the advantages that can help small retail businesses succeed in a big-box retail climate.

A new book titled “The Secrets of Retailing…or How to Beat Walmart” by Marc Joseph, President and COO of DollarDays, a premier Internet-based product wholesaler to small businesses and local distributors, details how small businesses can compete and even win against Walmart and other giant retailers that come to their towns.

“The Secrets of Retailing…or How to Beat Walmart” hits store shelves in spring 2005 but is now available for pre-publication orders at www.dollardays.com.

“Let’s admit upfront that there may be some truth in the low price complaints for run-of-the-mill goods, because it is true that the giant discounters do buy them at lower prices than any independent can obtain,” said Joseph. “However, when it comes to more specialized and not necessarily more expensive merchandise, Walmart and the other giant discounters are actually at a disadvantage to the small retail store.”

According to Joseph, while Walmart can buy in large closeout quantities, they can’t buy in small quantities, which give independents the huge advantage of selling opportunistic products showing great value. In addition, because of a limited supply of unique and different items, the chains can’t buy them in sufficient quantity, giving the independent a chance to really be different.

Joseph also adds that small retailers can control their overhead and be significantly lower because they do not need to support a whole management superstructure, and it’s easier for them to offer customers personalized service and attention that always beats the impersonal feeling in a chain store.

“None of this is to say that the discounters do not offer serious competition. Of course they do. But then I don’t know of any business, retail or otherwise, that is without competitive pushback,” said Joseph. “The point is that, contrary to the complaints you hear from retailers driven out by Walmart, even the largest, most aggressive discounter is nowhere near strong enough to stop a small retailer if they know what they are doing.”

Joseph says the retailers who have been driven out by Walmart were capitalizing on their local monopoly by selling ordinary merchandise at exalted prices. When Walmart came in, these small retailers were undersold.

Joseph was inspired to write [his book] as a result of counseling hundreds of DollarDays customers, small retailers who worried about facing increased competition when big-box retailers opened in their towns. Although many small retailers complain that big-box retailers like Walmart lure customers with “loss leader” pricing on some merchandise, Joseph says small retailers can triumph in the long run.

“Every chapter in my book talks about the fundamentals of entrepreneurial retailing, whether it is hiring the right people, selecting the right location, working with the right vendors or running the right promotions,” Joseph said. “This book is based on my experiences in competing against Walmart and also being a supplier to Walmart. When you finish this book, you will have that edge to not only survive and thrive in the shadow of Walmart, but to go up against any chain store.”

Joseph often speaks to retail associations about how small-business owners can ensure their own success by applying the principals of entrepreneurial retailing.

As a support system for entrepreneurs, DollarDays offers a program called DollarDays Independent Distributors (DDID) that helps people open their own product wholesaler businesses on the Internet. After paying an annual fee of $199, DollarDays’ professionals set up the independent distributor’s website, where the distributor’s business contacts can order DollarDays’ famous small case-load quantities of supplies. Every time a customer orders, the independent distributor receives a commission of 5%. Based on yearly sales volume, commission earned can increase to as much as 15%.

Online Wholesaler DollarDays Reports 1,000 New Customers a Day

01/04/200501/28/2019Leave a comment

Designed to help small merchants compete with large retailers, online wholesaler DollarDays has gained an average of 1,000 new customers a day, many of them one- or two-person operations, over the past year, the company says.

DollarDays, based in Phoenix, also says its 2004 sales reached a record growth rate of 200% over 2003. The privately held company does not release sales figures in dollar terms.

“This has been an exciting year, and we look forward to beating our own records in 2005,” says Marc Joseph, founder and COO.

In addition to traffic from mom-and-pop merchants, DollarDays is also building its business with entrepreneurs who are establishing new dollar-store locations and with larger retailers who are establishing dollar-store departments within existing stores, the company says.

Original article here:
https://www.digitalcommerce360.com/2005/01/04/online-wholesaler-dollardays-reports-1-000-new-customers-a-day/

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