Business training and a long family history in entrepreneurship still weren’t enough to prepare Margaret Clark for the challenges of passing a business from one generation to the next. The seventh-generation owner of Clarks Hardware in Ellicott City, Maryland, Clark …
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Employing family members can be tricky business. To your benefit, common culture, work ethic, trust and loyalty often run strong among family members who work together. However, having relatives on staff or in leadership can also present a challenge. What …
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You probably always have your favorite hammer, your trusty jigsaw and your adjustable wrench all within arm’s reach, but don’t forget some other critical tools to help your business blow the competition out of the water. Check out this list …
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Click the image above to download a PDF of the story. Many independent home improvement businesses are passed down through generations, but you should have a plan no matter who is taking over. Hardware Retailing developed this list based on …
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Click the image above to view a PDF of the story. Home improvement retailing is a business where there’s a lot of longevity. It’s not unusual to see a business in its second or third generation, with some dating back …
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Click the picture to download a PDF of this story. What will happen to your business when you’re no longer able to run it? The recent Succession Planning Study from the North American Retail Hardware Association (NRHA) takes a look at how …
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A big change is coming to the Lowe’s Cos. leadership team—longtime chairman, president and CEO Robert A. Niblock plans to retire. Today, the 25-year veteran of the big-box company announced his retirement, according to a press release from Lowe’s. The …
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