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Operations

Are You Ready to Buy?

  Are you ready to buy a business? In the July issue of Hardware Retailing, we talked with four owners who had recently purchased a business, or are in the process of purchasing a business. They talked about their experiences …

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Stepping In: New Owners Discuss the Challenges of Buying a Business

To view a PDF of the story, click here. Stepping in as the next-in-line owner of his family’s business has added significantly to Pete Klingbeil’s to-do list. One of his tasks was earning the trust and respect of customers who …

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Looking to Expand Your Business?

Many independent home improvement retailers are looking to expand their businesses by adding store locations, which bring new customers, new product mixes and new opportunities. Recent data gathered by the North American Retail Hardware Association (NRHA) shows that more than a quarter of independent retailers plan …

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Using Financial Benchmarking to Grow Profit

Financial Benchmarking

The variance in profit between a typical and high-profit store is $100,000. You have an opportunity to grow your store’s profit by understanding how your business compares to other operations in the industry. “Every business needs to know the benchmarks …

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The Dos and Don’ts of Sharing Political Opinions

No matter what business owners believe about political candidates or causes, they must consider how expressing those opinions–through signage at their stores or in other ways–may impact customers and potential customers. Even the most loyal customers may react strongly to a …

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Spring Training, Hardware Style

The staff at Costello’s Ace, which has 23 locations in New York and two in New Jersey, knows employee knowledge leads to better customer service. So they put together a training event to connect employees and vendors, so employees could …

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Ways to Boost Lumber Sales This Spring

lumber

New home sales have reached a post-recession high, according to newly released data from the U. S. Department of Housing and Urban Development and the U.S. Census Bureau. The data says sales of newly built, single-family homes rose 16.6 percent …

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Five Ways to Do More with Your Community Donations

If you’re like most independent home improvement retailers, you consider yourself to be much more than a mere purveyor of goods and services. Your store is the place where the community gathers; you share your resources to help those around …

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