Hardware Retail Franchise Business Plan Leave a comment

Wilusa Magazine polled downtown residents last year. They found that hardware stores are among the top ten necessities to make downtown a great location to live. Downtown is a wonderful place to live and work.

Downtown Indianapolis’ demographics have changed dramatically in terms of home ownership. Today’s hardware store, which is increasingly dominated today by the “big box” stores, is uninviting and often requires a considerable driving distance from downtown Wilusa. Hisarlik can take advantage of this new way of life. Hisarlik Hardware, conveniently located to serve Troas Bay, Sinope Bays, Miletus Squares, and Lycia, as well the entire Arazawa Township area, offers parts and materials as well advice. As soon as a customer enters the store, the focus is on helping them identify what they need and want.

Hisarlik Hardware intends to capitalize on this potential opportunity by offering superior customer service, great product choices, and low prices. The location has been secured to provide excellent traffic and a magnet for the downtown’s only grocery store. The Building Blocksparent organisation will assist in the layout and planning of the store, which will increase sales and give customers the highest level of attention. Hisarlik&#8217s management team is well-versed in all aspects of business, finance, and mechanical operations, which will make the venture a worthwhile investment. The Hisarlik Hardware growth rate is very steady and could grow exponentially with the rise in downtown residential development.

Hisarlik Machinery will create positive cash flow within its first year. Hisarlikwill also generate a net profit within its first year.

1.1 Objectives

This business plan focuses on four key objectives. Three of these are immediate and the other is longer-term.

1. Find out if a downtown hardware shop is feasible.
2. Strategize to open, manage, and grow a successful downtown hardware business.
3. Establish a firm budget to operate and manage the business from concept to start up to operation, with good cash flow and consistent profits.
4. Explore the potential for growth in downtown markets and create new business opportunities.

1.2 Mission

Hisarlik Hardware&#8217’s mission was to create a downtown store that is reliable. This store offers excellent service and has a large selection of home improvement and hardware products. It is customer-friendly.

Hisarlik Hardware caters to downtown residents and property managers as well as contractors, contractors, and suburban commuters. Customers will be loyal to us because we offer great advice, prompt service and friendly staff. We also provide solutions for all their problems.

1.3 Feasibility of the Business

Hector Priamson, Troy Enterprises underwent a lengthy and detailed process to look at potential business ventures that would enable them to start a business and become a long-term success. Retail hardware was discovered as a possible opportunity through this process. To make Hector Priamson’s and Troy Enterprises a success, the following items are deemed #8220;must-have’ items.

1. An industry that is strong, resists economic swings, and allows an entrepreneurial to influence the stores’ results.
2. A market that is able to offer the kind and amount of potential that will enable a store be financially profitable.
3. A location that is easy to find and easy to access. It should also have ample parking. The store must be economically viable.
4. A successful and cooperative “partner”, such as Building Blocks, a national hardware co-operative, that will help research, plan, market, and operate a hardware store.

Blocks provide all of the tools. Hector Priamson possesses both the entrepreneurial, financial and managerial skills that are required to be successful in this field.

Success Keys 1.4

• Home Improvement Industry: Home Improvement has seen a steady increase of 7% each year over the past decade, according the US Department of Commerce. US sales totalled more than $313billion in 2002. While the economy has fluctuated up and down over the past decade, the growth of the hardware industry has continued to grow at the same pace. The rise of the “Big Box” stores has also led to a “Do-it yourself” mentality, which has had a positive effect upon independent hardware shops.
• Position: Troas Marketplace will be the new location for Hisarlik Hardware. Troas Marketplace is a retail and commercial building at the corner E. Anglia St. and N. Umberland St. Troas Marketplace is anchored by Buckbasket Cleaners and Scamander&#8217’s Food Market. It is a big draw. Scamander’s is the only grocery store in downtown Wilusa. This store is located one block away from trendy Wessex Avenue. Troas Marketplace has plenty of parking which is very important in downtown locations. It also offers easy access to N. Mercia St. and E. Anglia St. E. Anglia St. are major eastbound thoroughfares east of downtown.
• Urban Product: An urban store in downtown Wilusa requires a different product mix to one found in a suburban shop. There will be a unique product demand from urban dwellers. Building Blocks will play an important role in determining which products are best suited for urban markets through their IAIS program (Inventory always In Stock). Hisarlik Hardwarewill remain in touch, and be a focus on, the downtown city market.
• Commercial Customers: Hisarlik Hardware will also focus on becoming the hardware products source for every building and business in downtown Wilusa. We will work hard to establish relationships with property managers and service personnel. We also plan to establish a delivery service for the downtown business district, making it even more convenient for customers to purchase the products that they need when they need them. Hisarlik Hardware is convenient and easy-to-use, but it may not be practical for potential customers to leave their offices. There will be an emphasis to establish business accounts for each of these customers to make doing business easy for them.
• Blocks : It can be crucial to have an Blocksco-op to support your efforts to open stores like Hisarlik Hardware. They give you all the tools needed to be successful in the hardware market, including floor plans, marketing, and the systems and instructions required for opening a hardware shop. You can become a BlocksMember (Member in good standing of the BlocksCooperative). This will give you a business in a box’ and allow you to manage your own business. The extensive marketing programs have been developed based on the input of members and are designed to increase sales, traffic, and profits.
• Service and Convenience: Service and Convenience are the keys to success in this business. These are the strengths of independent hardware shops. Easy access and use by customers is essential for a store. Our personnel have experience in high-end client hospitality. This experience will be invaluable for dealing with customers. We will also keep meticulous records about what our customers are looking for and the stock we have.

A delivery program will be created to make it simple for customers to get products from their business without having to leave the office. We will also market to suburban commuters, who can use the convenience of stopping at work to get their products. Happy hour specials to encourage shopping after the five o’clock whistle will be instituted.

All these keys will combine to drive sales and ultimately, net profit.