Dollar Discount Stores vs MyDollarstore Franchise Comparison

Below is an in-depth analysis and side-by-side comparison of Dollar Discount Stores vs MyDollarstore including start-up costs and fees, business experience requirements, training & support and financing options.

Start-Up Costs and Fees

 
Dollar Discount Stores Franchise
MyDollarstore Franchise
Investment $99,000 - $195,000 $95,000 - $298,000
Franchise Fee $18,000 $15,000
Royalty Fee 3% 4%
Advertising Fee - 0
Year Founded 1982 -
Year Franchised 1987 -
Term Of Agreement 10 years 10 years
Term Of Agreement 10 years 10 years
Renewal Fee 33% of current franchise fee nominal renewal fee


Business Experience Requirements

 
Dollar Discount Stores Franchise
MyDollarstore Franchise
Experience - Generally, good management skills, good people skills and good team building skills combined with the drive to succeed and a passion for delivering uncompromising customer service are valuable in managing a My Dollar Store

Financing Options

 
Dollar Discount Stores Franchise
MyDollarstore Franchise
  In-House/3rd Party In-House/3rd Party
Franchise Fees No/No -/-
Start-up Costs No/No -/-
Equipment No/No -/-
Inventory No/No -/-
Receivables No/No -/-
Payroll No/No -/-

Training & Support

 
Dollar Discount Stores Franchise
MyDollarstore Franchise
Training - -
Support Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives -
Marketing Ad slicks -
Operations 10% of all franchisees own more than one unit

Number of employees needed to run franchised unit: 4 - 7

Absentee ownership of franchise is allowed. (99% of current franchisees are owner/operators)

-

Expansion Plans

 
Dollar Discount Stores Franchise
MyDollarstore Franchise
US Expansion Yes -
Canada Expansion No -
International Expansion No -

Start-Up Costs and Fees Mobile

Investment
Dollar Discount Stores Franchise
$99,000 - $195,000
MyDollarstore Franchise
$95,000 - $298,000
Franchise Fee
Dollar Discount Stores Franchise
$18,000
MyDollarstore Franchise
$15,000
Royalty Fee
Dollar Discount Stores Franchise
3%
MyDollarstore Franchise
4%
Advertising Fee
Dollar Discount Stores Franchise
-
MyDollarstore Franchise
0
Year Founded
Dollar Discount Stores Franchise
1982
MyDollarstore Franchise
-
Year Franchised
Dollar Discount Stores Franchise
1987
MyDollarstore Franchise
-
Term Of Agreement
Dollar Discount Stores Franchise
10 years
MyDollarstore Franchise
10 years
Renewal Fee
Dollar Discount Stores Franchise
33% of current franchise fee
MyDollarstore Franchise
nominal renewal fee


Business Experience Requirements

Experience
Dollar Discount Stores Franchise
-
MyDollarstore Franchise
Generally, good management skills, good people skills and good team building skills combined with the drive to succeed and a passion for delivering uncompromising customer service are valuable in managing a My Dollar Store

Financing Options

  In-House/3rd Party
Franchise Fees
Dollar Discount Stores Franchise
No/No
MyDollarstore Franchise
-/-
Start-up Costs
Dollar Discount Stores Franchise
No/No
MyDollarstore Franchise
-/-
Equipment
Dollar Discount Stores Franchise
No/No
MyDollarstore Franchise
-/-
Inventory
Dollar Discount Stores Franchise
No/No
MyDollarstore Franchise
-/-
Receivables
Dollar Discount Stores Franchise
No/No
MyDollarstore Franchise
-/-
Payroll
Dollar Discount Stores Franchise
No/No
MyDollarstore Franchise
-/-

Training & Support

Training
Dollar Discount Stores Franchise
-
MyDollarstore Franchise
-
Support
Dollar Discount Stores Franchise
Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives
MyDollarstore Franchise
-
Marketing
Dollar Discount Stores Franchise
Ad slicks
MyDollarstore Franchise
-
Operations
Dollar Discount Stores Franchise
10% of all franchisees own more than one unit

Number of employees needed to run franchised unit: 4 - 7

Absentee ownership of franchise is allowed. (99% of current franchisees are owner/operators)

MyDollarstore Franchise
-

Expansion Plans

US Expansion
Dollar Discount Stores Franchise
Yes
MyDollarstore Franchise
-
Canada Expansion
Dollar Discount Stores Franchise
No
MyDollarstore Franchise
-
International Expansion
Dollar Discount Stores Franchise
No
MyDollarstore Franchise
-

Company Overviews

About Dollar Discount Stores

Paul Cohen opened the first Dollar Discount Store in Delaware County, Pennsylvania, in 1982. With the help of his family, who had about 40 years of retail experience, he expanded the company into a chain, then began franchising in 1987. Each Dollar Discount Store offers a variety of products, including toys, paper goods, snacks and school supplies, for $1. Stores can also sell more expensive items ranging in price from $1 to $15.

About MyDollarstore

Be independent but not alone. If you’ve imagined running your own business and leaving your job for more independence, putting your valuable experience and skills at work towards your own benefit, exercising your creativity and talent and having an impact on your customers and community, MyDollarstore, Inc. can make those imaginings real. Franchising has become the most popular method for conducting business because you supported by a network of similar businesses and yet independent.
According to the Houston Business Journal (8-17-2000), franchise sales annually by more than 316,000 Dollar Stores retail units in the USA have surpassed $1 trillion.