Al Zakhour decided he wanted to open a dollar store when he lost his job at the People’s Bank credit card division last year.
This month that dream came to fruition when he and his wife, Hala, opened Dollar Bargain at 450 Howe Ave. in Shelton.
Zakhour spoke with the Valley Independent Sentinel recently about starting his own business, and the economics of selling items for a dollar.
Valley Indy: What made you decide to open your own business?
Zakhour: I spent 28 years in banking, mostly management. I got into credit card collections, a job that was outsourced and consolidated to Rhode Island. I didn’t want to move out there.
In the beginning, I had trouble finding work. I was either over qualified.
So I said, let me open up my own thing and I’ll be my own boss.
Valley Indy: Why a dollar store?
Zakhour: When I say dollar store, it’s a small one, not the normal 3,000 square foot one.
I have some friends who have liquor stores, delis. They’re not doing too great right now. They were doing well before. But not now.
Opening an extra business to compete, I figured was kind of risky. And one time I saw an article that a dollar store market is really growing.
Valley Indy: What made you pick Shelton?
Zakhour: Shelton technically doesn’t have one. And I want to stay in this area. I’ve been in the Bridgeport area for 38 years.
Valley Indy: What will you sell?
Zakhour: The normal dollar stores around here are 3,000 square feet, and they have a zillion gadgets. Because mine’s smaller, I decided to focus on normal party supplies.
Some of the stuff is more than the normal $1 or $1.50. But most of the stuff is between $1 and $1.50.
Like I’ll have greeting cards, which I will sell for a dollar. But I’ll also have three-dimensional greeting cards, which I’ve never seen in a dollar store. And I’ll sell those for $2.
As far as the other gadgets, I can not have too many of those because I don’t have the room.
I decided to have more things that people downtown would need, like towels and cleaning materials. Things like that.
Also, I’ll have a small section for specialties and gifts. If people downtown want to buy a nice gift or something for their home, such as an espresso coffee set, or a nice vase, I’ll have that.
It’s more than a dollar, but less expensive, and pretty.
Valley Indy: How do you make a profit selling things for a dollar?
Zakhour: That was my first questions, and my first concern.
I’ve looked at the dollar stores around here, and none of them have closed.
It has to be volume. Large volume.
Especially for party supplies. And especially downtown, a lot of people can come here and get things like towels for a dollar.
But it’s all volume. Large volume. And the register has to be ringing for a long time.
This is going to be hard work.
But I expect large volume. I’ve had a lot of people ask me ‘When are you going to open up?’ They’re looking to save.
Dollar Bargains will be open Monday through Saturday, 8 a.m. to 8 p.m., and Sunday 9 a.m. to 6 p.m.