There are a number of reasons why store owners choose to sell their businesses. They may be ready to retire and don’t have a succession plan or family members willing to take over the business. Or perhaps they are ready to explore new opportunities or lifestyle changes.
There are also buyers looking to acquire established stores. They may be aspiring first-time owners or experienced retailers looking to grow their operation by expanding into new locations or markets. NHPA regularly receives buying and selling inquiries from retailers from the more than 40,000 storefronts it serves in the independent home improvement industry in the U.S. and Canada. For this reason, the association has created a fair and cost-effective solution to give store owners a way to advertise their locations for sale.
The NHPA Retail Marketplace connects buyers and sellers of independent home improvement businesses. Marketplace listings appear in print in Hardware Retailing and online on the NHPA Marketplace page on the NHPA website.
Both public and private listing options are available to retailers. Public listings will allow retailers to advertise their business for up to one year with information, photos and the retailer contact information listed. Private listings will not share photos or critical information, and NHPA will help facilitate any inquiries.
“Retailers contact me regularly asking if NHPA can assist in selling stores. I also have retailers reaching out about acquiring stores but don’t know what’s for sale,” says Dave Gowan, NHPA chief financial officer and executive vice president of business services. “The Retail Marketplace is a way to bring those two groups together—as there is a high likelihood that the buyer of an existing home improvement store is already in the industry either as an owner or an employee looking to own their own business.”