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Updated RecentlyDollar 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 |
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| 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 |
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| 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 |
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| 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 |
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| 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 |
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| US Expansion | Yes | - |
| Canada Expansion | No | - |
| International Expansion | No | - |
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're 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.