• Report: #153207

Complaint Review: $1.00 Store Services - Dollar Store Services - JW Imports - $1.99 Jewelry & Boutique

  • Submitted: Wed, August 10, 2005
  • Updated: Tue, May 04, 2010

  • Reported By:Nashville Tennessee
$1.00 Store Services - Dollar Store Services - JW Imports - $1.99 Jewelry & Boutique
4505 W. Hacienda, Ste. I Las Vegas, Nevada U.S.A.

$1.00 Store Services - Dollar Store Services - JW Imports - $1.99 Jewelry & Boutique Ripoff, Corporate Fraud, Overstated Sales Projections, BizFlop Las Vegas Nevada

*UPDATE Employee: ALL CONCERNS ADDRESSED SATISFACTORILY

*UPDATE Employee: ALL CONCERNS ADDRESSED SATISFACTORILY

*Consumer Comment: Same Boat

*Consumer Comment: Contact me please......

*Consumer Comment: Need to get together.

*Consumer Comment: Do your homework before investing

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We own a dollar store. We were set up by a dollar store turn-key company, $1.00 Store Services, Inc. headquartered in Las Vegas, Nevada. $1.00 Store Services, Inc. gets most of their leads from the internet via their website and is linked to countless franchise websites.

We bought in to the package based on financial projections and expected earnings supplied by the company. They also told us to use these projections when preparing our loan proposals and negotiating our lease terms. We have never made anywhere near the projections after being in business for over a year.

We also have contacted various other store owners in several states and they all share similar stories and experiences. We believe $1.00 Store Services, Inc. uses these sales projections as a lure and that they are grossly overstated if valid at all.

Please visit our website for more information about our cause at (link deleted - see below); especially the sections About Us, Profit Potential, and Existing Stores. The Profit Potential section provides hard evidence to substantiate our complaint.

We feel confident we have a case because our website has been up for over a month and $1.00 Store Services, Inc. has not come after us for libel. You can't dispute the truth. However, they have reacted to information on our website with regard to the financial projections. They've changed all their financial data information.

Unfortunately, we've recently confirmed that their salespeople are still quoting these numbers to potential new store owners over the phone. If I had to guess I'd assume when our website came out they consulted an attorney, the attorney told them we had legitimate claims of fraud and then they changed the data.

People have lost everything as a result of false information supplied by this company - their spouses, their homes, their life savings, their health, their retirement. Our hopes and dreams of successful entrepreneurship may have been extinguished by $1.00 Store Services, Inc. but hopefully not in vain. $1.00 Store Services, Inc. shouldn't be allowed to make a fortune off the backs of any more innocent hardworking Americans. Please take our warning seriously!!!

Angela
Nashville, Tennessee
U.S.A.

CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

This report was posted on Ripoff Report on 08/10/2005 12:14 PM and is a permanent record located here: http://www.ripoffreport.com/r/100-Store-Services-Dollar-Store-Services-JW-Imports-199-Jewelry-Boutique/Las-Vegas-Nevada-89118/100-Store-Services-Dollar-Store-Services-JW-Imports-199-Jewelry-Boutique-Ripof-153207. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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REBUTTALS & REPLIES:
0Author 6Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

ALL CONCERNS ADDRESSED SATISFACTORILY

AUTHOR: John - (United States of America)

Subsequent to this posting, our company had the opportunity to discuss with Angela from Tennessee her concerns; all were addressed to her satisfaction.  As the Ripoff Report's guidelines do not permit the removal of a posting (only "updates or rebuttals") and Angela has not posted an update, we have chosen to post the following:

All concerns voiced by Angela from Tennessee were addressed to her satisfaction.

Any financial data that an owner utilizes in assessing the viability of their business or in seeking funding is reviewed and assessed by the owner, and submitted as part of a loan application over their signature.

Location of the store, adequate capitalization, and the dedication and management skills and abilities of an owner are some of the key variables in determining the relative success of any store.  These key variables are all the responsibility and under the control of the owner; especially the decision as to store location.  We can advise, as we did in this case, but we cannot "dictate" that an owner select one location over another.

Our company provides independent-minded business owners with everything they need to enter the dollar store business.  The stores we build are the finest you will find, and the merchandise assortment is second to none, with many categories that are not even found in more "typical" dollar stores.  This owner was thrilled with how her store turned out, stating in her Buildout Release that "...the store is beautiful !"

Our turnkey store packages offer assistance in site location and lease negotiations.  We provide financial assistance, a free business plan, and a variety of funding options to address all financial profiles.  We provide all the equipment, fixtures and inventory to completely setu up a dollar store, and of course all the labor and a professional Buildout Supervisor to direct the work.  We offer a minimum of 8 weeks of training, including the option of classroom training in our corporate offices.  Every store owner has full access to our supplier network and our newsletter, which provides weekly updates on new merchandise from over 50 suppliers, located nationwide to ensure short delivery times, and minimal freight cost.  Every item offered to our stores is hand selected by our staff of buyers at the suppliers' warehouses; then the price of each is negotiated face to face.  Most suppliers also offer freight concessions and in some cases free freight to our stores, as well.

We are proud that we have opened over 2,000 stores since 1995, and accept over 500 applications and deposits every year; over 7,000 since 1995!

While there cannot be a guarantee of success in any business endeavor, we believe that our program provides every store owner with the tools to be as successful as possible.  I welcome the opportunity to speak with any prospective store owner regarding our program and of course regarding this posting.  I can be reached at 1-800-829-2915 x 134

Sincerely,

John LaFronz

General Manager,

Dollar Store Services

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#2 UPDATE Employee

ALL CONCERNS ADDRESSED SATISFACTORILY

AUTHOR: John - (United States of America)

Subsequent to this posting, our company had the opportunity to discuss Angela from Tennessee's concerns; all were addressed to her satisfaction.  As the Ripoff Report's guidelines do not permit the removal of a posting (only "updates or rebuttals") and Angela has not posted an update, we have chosen to post the following:

All concerns voiced by Angela from Tennessee were addressed to her satisfaction.

Any financial data that an owner utilizes in assessing the viability of their business or in seeking funding is reviewed and assessed by the owner, and submitted as part of a loan application over their signature.

Location of the store, adequate capitalization, and the dedication and management skills and abilities of an owner are some of the key variables in determining the relative success of any store.  These key variables are all the responsibility and under the control of the owner; especially the decision as to store location.  We can advise, as we did in this case, but we cannot "dictate" that an owner select one location over another.

Our company provides independent-minded business owners with everything they need to enter the dollar store business.  The stores we build are the finest you will find, and the merchandise assortment is second to none, with many categories that are not even found in more "typical" dollar stores.  This owner was thrilled with how her store turned out, stating in her Buildout Release that "...the store is beautiful !"

Our turnkey store packages offer assistance in site location and lease negotiations.  We provide financial assistance, a free business plan, and a variety of funding options to address all financial profiles.  We provide all the equipment, fixtures and inventory to completely setu up a dollar store, and of course all the labor and a professional Buildout Supervisor to direct the work.  We offer a minimum of 8 weeks of training, including the option of classroom training in our corporate offices.  Every store owner has full access to our supplier network and our newsletter, which provides weekly updates on new merchandise from over 50 suppliers, located nationwide to ensure short delivery times, and minimal freight cost.  Every item offered to our stores is hand selected by our staff of buyers at the suppliers' warehouses; then the price of each is negotiated face to face.  Most suppliers also offer freight concessions and in some cases free freight to our stores, as well.

We are proud that we have opened over 2,000 stores since 1995, and accept over 500 applications and deposits every year; over 7,000 since 1995!

While there cannot be a guarantee of success in any business endeavor, we believe that our program provides every store owner with the tools to be as successful as possible.  I welcome the opportunity to speak with any prospective store owner regarding our program and of course regarding this posting.  I can be reached at 1-800-829-2915 x 134

Sincerely,

John LaFronz

General Manager,

Dollar Store Services

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#3 Consumer Comment

Same Boat

AUTHOR: T - (U.S.A.)

I also went through $1 store services for my new business. It opened just last month (oct.). And it is painfully clear that the projections are nowhere close to what was to happen. However, I have been in business befor. I knew what I was getting into. Despite how rosie a picture was being painted by ahhhh SALESMAN! Heres the deal. For $95,900 I got 30k in inventory. 15k in shelving 5k in misc. assets, and the rest I invested in 1 thing. The price breaks, and frieght garrenties made to a much larger company.

Now I will be honest I think almost everyone there needs an education in retail. As part of the package, I was suppose to have a site locator, lease negotiator, a person to get sign quotes, a person to run a grand openning add on time ect. I had to do all of those things. But I did get my merchandise, I did get my vedor list with price breaks, I did get a buildout crew, even though the b\o supervisor knows nothing of merchandising. And I got a wonderful store trainner that helps me learn my vendors. (the only person worth a whistle, Russel Hect.)

I went way out on a limb and added 15k to the package for extra inventory, and in the past 3 weeks have spent all my money earned in inventory as well. It is a long road ahead, I have worked 4 weeks straight, no employees. I have yet to make a dime. But that is business, no matter what a salesman tells you. I did believe it though and banked on it as well. But thats not there fault projedtions are just that. Estimates of the best case. Not in any way specific to you or your location or you demographic. So in essence not real to you in any way. I would love to share my complaints about dss, and there are many. And I am going broke, but I did sign off on every decision, even against there advice on my location, however in my defence there was no alternitive given.

May God bless all of of is this ruffer than anticipated venture.
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#4 Consumer Comment

Contact me please......

AUTHOR: Lindsey - (U.S.A.)

I also was ripped off by $1.00 store services, I have a report on this website. Please contact me. We need to figure out how to get this resolved, maybe we can be of some help to each other. 702-581-7610 Kristian
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#5 Consumer Comment

Need to get together.

AUTHOR: Kristian - (U.S.A.)

Hello Angela,

We were ripped off as well. Please contact me at 702-581-7610. Here is our story (very similar to yours).

Hello,



We and several other people have been financially devastated by a dishonest company here in Las Vegas. I am going to lose my home, my retirement, and all of the things I have worked hard for all my life over dishonest overstated sales projections and pushy sales people at this company. There have been several other people around the country who have been taken advantage of by this company and have also lost everything as a result of false information supplied by this company their spouses, their homes their life savings, their health, and their retirement.

$1.00 store services, is a dishonest and greedy corporation. My husband and I were interested in owning a small business, after looking into many other options, we decided on $1.00 store services, they seemed like a very upstanding operation and the numbers they showed us looked good. Once we had given them our money we had our first meeting with our "new store trainer" Judi. I have been in the retail industry for years and know quite a bit about it, minutes into our meeting I started having doubts (remember they had already taken our money, all $95,000.00 of it plus we had to put up another $40,000.00 for rent and opening costs) what she was telling us was, in my mind, common knowledge and some of her information was actually very wrong. I thought "well, that's ok they seem to be the experts so, I'll go along with it", man was I wrong!!



The store opened without a hitch, we did not see great numbers right away but, I know it takes time to get people to know you are there so I didn't sweat it. Weeks turned into months and I watched our sales plummet. As part of the money we had given them, they found our location and negotiated our lease. We couldn't pay our rent, employees or order new merchandise. My husband set up a meeting with John LaFonz, the general manager of $1.00 store services and they gave us a list of things to try. Here are just a couple: employees need to wear matching shirts (I only had one employee left because I had to lay four of them off) and put balloons on your sign. After that I started to get worried, that was the best information they could supply us with? Still we followed their suggestions and now our sales are lower than ever, we are probably going to lose EVERYTHING we have worked for prior to this; our house, automobiles and our investment property. They will no longer take our calls or give us any sort of refund, their business and people skills are poor at best.



If I had enough time to physically stand outside their business and tell people our story I would and I have the financials to show them. Unfortunately now that we have NO employees I am at the store all the time. I feel weak and sick most of the time and the stress and severity of the situation is threatening my health and life as I know it. PLEASE do not give these people any business or money they are shallow, greedy, unprofessional and uncaring to put it lightly. If anyone is thinking of doing business with them, please contact me and I will tell you everything in detail.

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#6 Consumer Comment

Do your homework before investing

AUTHOR: Joe - (U.S.A.)

I posted this on another one...applies here too:

Just curious...I have heard of this happening to others and can undertand that any business is a gamble, but here's the biggie: Did you do a feesability study prior to going into this or did you just wing it?

Did you do a business plan? Did you have it reviewed by anyone? Did you go to the small business association for help or research? Did you go visit dollar stores elsewhere and talk to owners? Did you go to the county and get a traffic count? Did you do a demographic study? Did you do the math on just how many products you must sell per day or per hour at $1 to make a profit on what slim margins I can imagine the product(s) generate? Did you figure out how much employees cost?

I am sorry to hear of your plight and do feel they have misled you, but you seem to have not done the proper homework that should be done prior to opening a business and risking that much money. If you did, you may well have just taken your money and gone down to the strip and put it all on black. You would have had better odds...I guarantee!

You need to do your own research before plunking down your money...not go off of other people's numbers.

Statistical studies show that 90% of business fail in the first 2 years, and that most of that failure is because of lack of planning and lack of adequate cash flow and reserves. You need to assume a loss for the first 2 years of being in business as a rule. If you weren't ready for that, you weren't ready to go into business of any kind.

Wish you well.
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