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  • Report: #956100

Complaint Review: Dollar Store Services

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  • Submitted: Wed, October 17, 2012
  • Updated: Sun, March 03, 2013

  • Reported By: madowner — Kent Ohio United States of America
Dollar Store Services
5075 West Diablo Drive Law Vegas, Nevada United States of America

Dollar Store Services JW Inmports Dollar Store Services Las Vegas Nevada

*REBUTTAL Owner of company: No authorized to speak on my business

*Consumer Comment: Before Opening A Dollar Store make sure you a lot of money

*Consumer Comment: this is to all dollar store and teen store services the are the same company

*Author of original report: Dollar Store Services

*UPDATE Employee: We provide the tools for each owner to be successful

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  I am writing again because many people have contacted me about my last post and I want to make sure this company is resonsible for the burdens they have decided to place on their store owners. 

Dollar store services is interested in one thing that is getting your money.  After that you are on your own.  They do not help your store succeed after it is open.  I did do research and do have a college degree so I did not jump into this business with my eyes closed.  I did a feasability study and show them a few options for a store front.  They told me where I was going I should do about 900.00 a day in sales well I am lucky to do 150.00 in sales on average.  I have advertised in every genre I could think of radio, newspaper, sales flyers, coupon flyers etc.. All to no avail.. It comes down to basic math.  The Cost of goods (price that you can buy merchandise)  average betwwen 75 and 85 cents then sometimes you have to include freight.  That means in a nutshell you need to pay rent, utilities, employees, and more merchandise with a sales revenue of 15 cents an item.  It is impossible.  It would even be hard to make money in this business based on the 50 cent margin they promise you.  I am urging you NOT to invest in this company and if you do be prepared to fail.  They have opened 2500 stores and from my research they have less than 200 still open and they continue to open more on a daily basis.  They will even give you a credit card to open your business.  That is crazy.  I can tell you the chances of you being successful are none.  I was told after I opened the store that NO ONE has ever taken a paycheck from their store.  If you are thinking about this company as an investment I have one simple task for you when you speak with them ask them for 5 references of store owners that have been in business over 5 years.  They will not have them because they do not exist.  One person called me and I gave him this adive and the sales rep actually laughed at him and said he could not give them those references.  That is becasue they do not exist.  That person callled me back and thanked me for saving him 75000.00.  So if you need to call me please do so on my cell I want this company to stop stealing from people.  Jim Whicker is a multi millionaire who has mad his money by bankrupting people who are will ing to invest in his company.  I know of at least 5 owners that have closed and/ or filed bankrupcy in the last year.  I know several more who are in the process of closing including myself.  My phone is three, three, zero, eight, one, nine, six, zero, three, six.  Thank you Michelle 

This report was posted on Ripoff Report on 10/17/2012 08:30 AM and is a permanent record located here: http://www.ripoffreport.com/r/Dollar-Store-Services/Law-Vegas-Nevada-89118/Dollar-Store-Services-JW-Inmports-Dollar-Store-Services-Las-Vegas-Nevada-956100. 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.

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REBUTTALS & REPLIES:
1Author 3Consumer 1Employee/Owner
Updates & Rebuttals

#1 REBUTTAL Owner of company

No authorized to speak on my business

AUTHOR: Jose - ()

Hector, is making comments regarding my store. He is no owner, and no authorized to speak on my behalf, regarding the business. In many aspects I disagree with him. His comments are simply, his opinions. Thanks

Jose Miranda
Owner
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#2 Consumer Comment

Before Opening A Dollar Store make sure you a lot of money

AUTHOR: Hector - ()

If you're thinking of opening a Dollar Store make sure you have really done your homework in regards to operating cost after the store is open or build-out.  I will advise the prospective owners to demand historical data and references from recently opened stores and if the those stores are performing financially or profitable.  It seems that any kind of actual profitability information is unavailable or hard to get from the store developers or even owners of these types of stores.

The store developers are in the business of selling complete store packages or "turnkey" stores, sure they will give plenty of phone support.  However, as independent owners you'll have "slug it out" to deal with paying rent & labor & other expenses even when the store is not making any profits. Our store was opened on Feb. 16, 2013 in Long Beach, CA approx. 1200 sq. ft , and the daily sales fluctuates between $35-$50 daily (6 days a week).  The owner is not paying it's employees (1) , and is considering filing chapter 7 or 13 bankruptcy already (not even 90 days).   If you don't have funds or money reserved to operate the store, pay employees, buy merchandise, and other expenses for 6 months to 1 year or even longer, then don't get involve in this type of business as it will turn into your worse financial nightmare.   

The financing in our particular case arranged by "Seed Capital" was all a series of credit cards (10) some under the Store LLC and some under the owner personal name.  That fact alone should have given the owner a reason to abandon the project of opening a Dollar Store.  I'm sure that none of the credit cards companies is aware that their credit line is being used to finance the expenses of opening a store or that the applicant applied concurrently to multiple lines of credit ( at $5,000 to $14,000 for each card).  

The training is rather weak in our case just 3 days in Las Vegas, and the tour of a "demo store".
By the way the "demo store" had been open 7 months and is not profitable, per the owner/partner/manager is just breaking even.   You have been warned, don't open a "Dollar Store", unless you're willing to take the risk of having to run an unprofitable store.
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#3 Consumer Comment

this is to all dollar store and teen store services the are the same company

AUTHOR: evelyn martinez - (United States of America)

IF YOU HAVE BEEN RIPPED OF BY DOLLAR STORE SERVICE OR TEEN STORE? THEN THIS MIGHT BE A PONSEY SCHIME YOU NEED TO CONTACT THE FBI SO THEY CAN INVESTIGATE THE COMPANY.
AND THENK YOU FOR LETTING ME KNOW ABOUT THIS COMPANY OR SHOULD I SAY ALLEGIT COMPANY??
BECAUSE I WAS GOING TO USE THEM NOW I AM NOT. AND TO DOLLAR STORE CAMPANY IF YOU WANT ME TO DO BUSINESS WITH YOU?? YOU MUST PROVIDE A COMPANY REPORT FORM THE US, BETTER BUSINESS BUREAL AND A LETTER FOR ALL ASSETS IN YOUR COMPANY BECAUSE IF I GET RIPPED OF I WILL PERSUE LEGAL MATTER AGAINST YOUR COMPANY TO INCLUDE THE FBI TREASERY DEPTAND THE IRS AS WELL YOU HAVE BEEN WARNED..

SIGN NEW YORK CITY!!
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#4 Author of original report

Dollar Store Services

AUTHOR: madowner - (United States of America)

Hello,



I just wanted you to know that yes Dollar Store Services did put up a form letter responce.  If you look back at the claims from many years ago the form letter they put on looks a lot like the previous form letter.  They can not even come up with a new rebuttal.  I love the fact that 6 potential owners have called me and have backed away from opening a store.  I still warn people with a heavy heart.  DO NOT DO THIS!!!! You will be sorry!!!  Ask for references of stores open more than 5 years and see what they say.  It is a scam and I hope to protect you.  Call me if you would like.  I have nothing to hide at this point.  Three three zero 819 six zero three six



Michelle
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#5 UPDATE Employee

We provide the tools for each owner to be successful

AUTHOR: John Lafronz - (United States of America)

Any financial data that an owner utilizes in assessing their potential business or in seeking funding is reviewed by the owner, and submitted as part of their own loan applications.

Location of the store, adequate capitalization, and the dedication and management skills and abilities of an owner are some of the variables in determining the relative success of any store.  These key variables are all the responsibility of the owner, especially the decision as to store location.  We can advise, as we did in this case, but we cannot dictate that the owner select one location as opposed to 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 not even found in typical dollar stores.  
 
Our turnkey store packages offer assistance in providing finance options, site location, and lease negotiation.  We provide all the equipment, fixtures and inventory to completely set 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. A merchandise representative is assigned to every store owner and works to support operations. Every store owner has full access to our supplier network and our newsletter which provides weekly updates on new merchandise from over 85 suppliers.  Every item offered to our stores is hand selected; then the price of each is negotiated.  Most suppliers offer freight concessions to our stores as well.
 
We have opened over 3000 stores since 1995 and there are thousands of stores in our wholesale network at this time any references can and will be provided. 

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 this posting. I can be reached at 1-800-829-2915 x134 and be sure to ask for references.
 
Sincerely,
John LaFronz
General Manager
Dollar Store Services
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