5 minute read
THE JOY OF SAVINGS
Two Dollar Things Plus brings affordable retail to communities around the country. Now the established brand is a hot new franchise opportunity
When times are tight, people look for value for money. When times are good, they look for little extra treats. That’s why the Two Dollar Things Plus retail chain has been growing ever since it first opened its doors in Tokoroa in 2011. Today there are 24 of the smartly-branded stores around New Zealand, and another 7 in Fiji – all company-owned.
Now the company is launching a franchise opportunity to expand the discount variety chain to around 100 high-traffic retail areas all around New Zealand. If the number of existing store managers who expressed interest at a recent meeting is anything to go by, the opportunities are going to be in demand!
Clever strategy
Two Dollar Things Plus has evolved as a one-price retail store. While maintaining the majority of items at the $2.50 level, the business has introduced a ‘super value’ range priced at $5 and $10, covering everyday branded necessities such as cleaning products and hair shampoo. This strategic shift has allowed Two Dollar Things Plus to thrive by offering a broader range of products while remaining faithful to the essence of its original concept.
‘We aim to source products that strike the perfect balance between quality and affordability across a wide range of categories,’ explains managing director Hyun Lee. ‘It means we can offer a range of everyday items that people know and love as well as some bargains to draw people in, and it works. Our stores develop a fan base of local people who know we have a great range of products at a great price.’
That trust is reflected by landlords and mall owners, too, who welcome the quality presentation that Two Dollar Things Plus brings to its fit-outs and merchandising.
Local owners wanted
It’s that local appeal coupled with strong relationships with business partners and suppliers in New Zealand and Australia that has led Two Dollar Things Plus to start franchising after 12 years of successful retailing. ‘We have a proven concept, a growing brand, established supply chains, and we are big enough to import over 60 percent of our product lines directly,’ says Hyun. ‘That makes a big difference to the profit margins that we – and our franchisees – can achieve, and the more we grow, the better the buying power we will have.
‘We decided to franchise because we are very aware of the advantages of having local owners around New Zealand. They know their local markets better than we ever can, know what their customers want and can be more involved in their community. They will be able to recruit and take care of their staff, and be in charge of day-to-day operations.’
We have the experience, you bring the attitude
Two Dollar Things Plus is a sister company of Dollar King, both led by HK Lee (no relation to Hyun), a businessman with a strong reputation as an achiever and creative thinker. They engaged Franchize Consultants, New Zealand’s award-winning specialists, to create a franchise package that could provide investors with a profitable and sustainable business model based upon the company’s long experience.
‘Operating our own stores has given a base of experience from which to build a very solid operation,’ says Hyun. ‘It also lets us spot trends early and trial new ideas before introducing them to the franchisees. We know what to buy, what to display, how to light it and how to teach customer service. Basically, we have the experience, you bring the attitude.’
So what sort of attitude do Two Dollar Things Plus franchisees need?
‘You don’t need a business degree – our people come from all sorts of places and backgrounds – but you do need enthusiasm and attention to detail. You need to be prepared to be hands-on, work in your store and care about how it looks and what you sell. You also need to enjoy the interaction with customers, getting to know them, and getting to know your community.’
Full training and support
New franchisees will benefit from comprehensive training programmes to equip them with the knowledge and skills needed to operate their store successfully. ‘And, once you’re established, our ongoing support ensures you’re never alone on your business journey,’ says Hyun. ‘You’ll also enjoy proven marketing strategies and promotional campaigns to boost your presence in your local community.’
Two Dollar Things Plus stores vary in size according to location and market, with display space ranging from 200 sqm to 500 sqm. ‘That means investment levels vary from around $150,000 to $300,000 plus stock,’ he suggests.
‘So if you’re looking for an exciting and profitable business venture with an established brand and experienced partner, contact us to find out more. Join the Two Dollar Things Plus franchise family and bring affordable shopping to your community.’
Advertiser Info
Two Dollar Things Plus
Contact Hyun Lee
M 021 543 273
lee@dollarkingnz.com
