Thriving in Transition
Made in the U.S. from high-carbon steel, our innovative SpeedGrip™ Tongue & Groove Pliers feature a push button for fast and easy non-slip adjustments and laser-hardened crosshatch teeth that grip stronger and last longer.
CONNECTIONS Follow Us Online
HEADQUARTERS
1025 East 54th St. Indianapolis, Indiana 317-275-9400
NHPA@YourNHPA.org YourNHPA.org
OUR MISSION
The North American Hardware and Paint Association (NHPA) helps independent home improvement and paint and decorating retailers, regardless of affiliations, become better and more profitable retailers.
NHPA BOARD OF DIRECTORS
CHAIRMAN OF THE BOARD
Jared Smith, Jared’s Ace Hardware, Bishopville, South Carolina
EXECUTIVE VICE CHAIRMAN
Craig Bond, Tommy’s Paint Pot, Eugene, Oregon
DIRECTORS
Alesia Anderson, Handy Ace Hardware, Tucker, Georgia
Jay Donnelly, Flanagan Paint & Supply, Ellisville, Missouri
Ned Green, Weiders Paint & Hardware, Rochester, New York
Scott Jerousek, Farm and Home Hardware, Wellington, Ohio
Ryan Ringer, Gold Beach Lumber Yard Inc., Gold Beach, Oregon
Jackie Sacks, Round Top Mercantile Co., Round Top, Texas
SECRETARY-TREASURER
Bob Cutter, NHPA President and CEO
STATE & REGIONAL ASSOCIATIONS
MIDWEST HARDWARE ASSOCIATION
Jody Kohl, 201 Frontenac Ave., P.O. Box 8033 Stevens Point, WI 54481-8033
800-888-1817; Fax: 715-341-4080
NHPA CANADA
NHPA CANADA
Michael McLarney, +1 416-489-3396, mike@hardlines.ca 330 Bay Street, Suite 1400 Toronto, ON, Canada M5H 2S8
CIRCULATION, SUBSCRIPTION & LIST RENTAL INQUIRIES
CIRCULATION DIRECTOR
Richard Jarrett, 314-432-7511, Fax: 314-432-7665
COMING IN DECEMBER
EXECUTIVE STAFF
PRESIDENT & CEO Bob Cutter
CHIEF OPERATING OFFICER & PUBLISHER
Dan Tratensek
CHIEF FINANCIAL OFFICER & EXECUTIVE VICE PRESIDENT, BUSINESS SERVICES
David Gowan
EXECUTIVE DIRECTOR, ADVANCED RETAIL EDUCATION PROGRAMS
Scott Wright, swright@YourNHPA.org
EXECUTIVE DIRECTOR, INNOVATION & ENGAGEMENT
Whitney Daulton
COMMUNICATIONS
317-275-9400, editorial@YourNHPA.org
More Merchandising
Merchandising can make or break a business. Customer loyalty and repeat business are fostered through effective merchandising, which makes shopping simpler for consumers and offers them reasons to return frequently and spend more money. Next month, discover how one operation upholds high merchandising standards across multiple locations and learn from its best practices.
Hardware Retailing (ISSN0889-2989) is published monthly by the North American Paint and Hardware Association, 1025 East 54th St., Indianapolis, IN 46220. Subscription rates: Hardware Retailing (Payable in advance): U.S. & possessions $50/year. Canada $75/year. All other countries $110/year. Single copy $7. The Annual Report issue can be purchased for $30.
Periodical postage paid at Indianapolis, Indiana, and additional mailing offices.
POSTMASTER: Send address changes to Hardware Retailing, P.O. Box 16709, St. Louis, MO 63105-1209.
All editorial contents © 2022 North American Paint and Hardware Association. No editorial may be reproduced without prior permission of the publisher.
REPRINTS: For price quotations, contact the Editorial Department at editorial@YourNHPA.org. Printed in the U.S.
COMMUNICATIONS & CONTENT MANAGER
Melanie Moul, mmoul@YourNHPA.org
ASSOCIATE EDITOR
Lindsey Thompson, lthompson@YourNHPA.org
ASSOCIATE EDITOR
Carly Froderman, cfroderman@YourNHPA.org
RETAIL TRAINING EDITOR
Jess Tillman, jtillman@YourNHPA.org
GRAPHIC DESIGNER
Autumn Ricketts
GRAPHIC DESIGNER
Olivia Adam
DIGITAL MEDIA SPECIALIST
Kevin Trehan
PRODUCTION MANAGER
Austin Vance
SALES & PRODUCTION ASSISTANT
Freda Creech
MARKETING MANAGER
Julie Leinwand
SALES
DIRECTOR OF SALES & SOUTHERN SALES DIRECTOR
Scott Gilcrest, sgilcrest@YourNHPA.org, 317-508-7680
NORTHERN SALES DIRECTOR
Jordan Rice, jrice@YourNHPA.org, 217-808-164
ASSOCIATION PROGRAMS
800-772-4424, NHPA@YourNHPA.org
DIRECTOR OF MEMBER SERVICES & EVENTS
Katie McHone-Jones, kmchone-jones@YourNHPA.org
DIRECTOR OF ORGANIZATIONAL DEVELOPMENT & CONSULTING
Kim Peffley, kpeffley@YourNHPA.org
TRAINING MANAGER & EDITOR
Jesse Carleton, jcarleton@YourNHPA.org
RETAIL ENGAGEMENT SPECIALIST
Renee Changnon, rchangnon@YourNHPA.org
Chief valuation officer Gary Pittsford and three retailers share insights into different paths of business transition owners can pursue when looking at what’s next for their operations.
Family Comes First
It is easy for retailers to become complacent in the plumbing category. McGuckin Hardware shares best practices to encourage improvement and boost sales.
Your Brand Name Connection
Stay Informed
Scan this QR code or visit hardwareretailing.com/november to read these stories and more.
In 2021, the employees at A Few Cool Hardware Stores became part owners of the operation through an employee
Facing the Future
As a business owner, having a comprehensive plan in place for when you’re no longer part of the operation can make the transition less stressful for all parties involved. Check out the online resources below for creating a succession plan.
The Right Docs
Discover the five legal and financial documents you should have on hand at all times, whether you are actively planning for succession or it’s still in the distant future.
Mr. Oswald Talks Succession
Even beloved Hardware Retailing comic character
Mr. Oswald questioned the future of his business. See what he says about business succession in one of his cartoons.
Extra Helping Hand
The North American Hardware and Paint Association (NHPA) offers comprehensive consulting services to help you successfully transition your operation.
Find More Stories Online
TRAINING
Merchandising Insights
NHPA has worked with industry-leading retailers to develop Foundations of Merchandising Management Live!, a two-day, educational experience that will take place on-site at the 2023 National Hardware Show in Las Vegas.
PODCAST A Boost in Business
In this episode, Dan Tratensek and Gary Pittsford discuss how the surge in sales during the pandemic impacted business valuations, planning for retirement and more.
Scan the QR code or visit the website below to listen.
YourNHPA.org/podcasts
CATEGORY Sustainable Solutions
Eco-friendly has infiltrated the plumbing category as consumers look for more green options in fixtures and products. Discover the trending sustainable plumbing solutions to carry in your operation.
stock ownership plan.
COVER STORY
EDITORIALLY SPEAKING
CONNECTIONS
Send Melanie a Message mmoul@YourNHPA.org
Melanie Moul
“If you manage people who do the hiring, be sure to tell them you appreciate the time and effort they put in to staffing your organization.”
Celebrating Growth
I’VE HAD THE PRIVILEGE over the last several years to staff a diverse and skilled communications team. While the task of hiring is daunting nearly every time, whether you’re adding a new employee or replacing someone who leaves, it’s also cause for celebration when the new team member joins your staff.
I didn’t always recognize that celebration, however. Sometimes, when you’re elbow-deep in resumes for people who are unqualified or juggling half a dozen phone interviews trying to keep the details straight, it feels like you’ll never find the right person.
And then one day, the choice is clear.
Then it’s time to send an offer letter, and you wait with baited breath to find out if you’ll be entering a period of negotiations—or worse, receive a decline.
After this most recent hire I made for the team, I emailed the accepted offer letter to our CFO so he could confirm the details and get everything set up with the accounting department. In response, he congratulated me on the new hire. This being my fourth hire for the organization, “congrats” stopped me in my tracks. The stress of this process over the course of six weeks had blinded me to the fact that I had been the sole decision-maker in a significant investment for my team and for the organization as a whole. A member of our executive team offering his appreciation made me think about how important hiring decisions are, regardless of the role you’re filling or their level in the company. If your position requires hiring, let this column be the official “congratulations” for the personnel decisions you’ve made in your career. And if you manage people who do the hiring, be sure to tell them you appreciate the time and effort they put in to staffing your organization.
Hiring, retention and employee engagement are still critical challenges for the industry. Earlier this year, the North American Hardware and Paint Association launched the Hiring Toolkit, a downloadable package of resources that includes job description templates, marketing tools, tips on where to find quality candidates, ideas for incentive programs and more. You can download the complete toolkit—and let us know what toolkits you want to see in the future—at YourNHPA.org/human-resources. Grab it today and be on your way to a celebration.
Melanie Moul Communications & Content Manager
TAKING CARE OF BUSINESS
dant@YourNHPA.org
Dan Tratensek
YourNHPA.org/tcb-pod
“Next year you will have several fantastic opportunities to learn from your peers, explore the latest in products and trends and perhaps go a bit outside your comfort zone.”
Must-Attend Events for 2023
IN THE PAST, I’ve talked about the importance of looking beyond the four walls of your business for insights and inspiration. Even with my constant prodding, I’m sure you might be left saying, “I’m with you, Dan, but how do I start broadening my business view?”
Next year you will have several fantastic opportunities to learn from your peers, explore the latest in products and trends and perhaps go a bit outside your comfort zone.
For starters, begin the new year off right by booking your ticket to Las Vegas to attend the National Hardware Show (nationalhardwareshow.com), which will be held from Jan. 31 to Feb. 2.
Not only is the National Hardware Show (NHS) a great place to see new products, meet with other retailers and take advantage of great educational opportunities, this year it is being held concurrently with the NAHB International Builders Show and the NKBA’s Kitchen & Bath Industry Show. So, it’s like getting to go to three events in one trip.
The North American Hardware and Paint Association (NHPA) has been a huge advocate for NHS for decades, and we couldn’t be more excited for what the show has in store for guests in 2023.
As in the past, NHPA will have a big presence at NHS. In 2023, not only will we be conducting many of our most popular programs like our Retailers’ Choice Awards, but we are also debuting our live Foundations of Merchandising Management Live!t program. This program is focused on helping retailers learn more about the fundamentals of merchandising, vendor relationships, assortment planning and more. The live classes will take place during the first two days of the show, and attendees will have the unique opportunity to learn from industry experts while also getting to experience NHS firsthand. For more information about how to participate in this one-of-a-kind experience, turn to Page 10
While a trip to NHS will help you get your year of broadening your horizons off to a great start, about six months later, you’ll have another opportunity to keep this momentum going.
You’ve probably heard us talk about 2023 NHPA Independents Conference, scheduled for Aug.1-3 in Dallas, but I am strongly encouraging you to mark this must-attend event on your calendars now. During this two-day event, we will be showcasing the latest in industry trends and shining the spotlight on how real-world retailers are using the latest in technology to drive their operations.
But this conference isn’t just about tech. You will also learn from the industry’s Top Guns, be encouraged by the next generation of industry leaders and talk to the entire spectrum of retailers from across the home improvement landscape.
Keep watching this magazine and our newsletters for more information about this event, including some special speaker announcements coming soon.
In the meantime, if you are committed to taking your business to the next level, finding ways to differentiate your operation and making it a successful 2023, you can’t go wrong with putting the National Hardware Show and 2023 NHPA Independents Conference on your schedule.
Dan M. Tratensek Chief Operating Officer & Publisher
We know not just any oscillating blades will cut it in your store. You’re after the performance, sales support, and universal tool compatibility that only comes with a market leader. That’s why Arrow, the leader in heavy-duty staple guns and staples, is changing the landscape in pro-grade oscillating blades with a lineup of blades made from the highest-quality materials and performance features we know your customers demand. Choose from three unique planograms that feature single packs and value-priced multipacks, and take 50% off your first order. Due to high demand, we’ve extended this offer through December 31. But hurry, planograms are limited. Secure yours before it’s gone!
EVENTS Register Today!
Improve your merchandising and assortment planning skills and strategies by attending Foundations of Mechandising Management Live! Visit YourNHPA.org/foundationslive NHPA NEWS
EVENTS
Upgrade Your Merchandising Strategies
FOUNDATIONS OF MERCHANDISING MANAGEMENT LIVE! AT NHS
How can you stay on top of the latest merchandising tactics and best practices for the home improvement industry? NHPA has worked with industry-leading retailers to develop Foundations of Merchandising Management Live!, a two-day, educational experience that will take place on-site at the 2023 National Hardware Show (NHS) in Las Vegas on Jan. 31-Feb. 1, 2023.
The event, exclusively sponsored by NHS, is designed to help both new and experienced personnel responsible for managing merchandising functions at their stores. They will benefit from expert-led course sessions, breakout workshop sessions, networking opportunities and ROI-driven assignments to take back to their stores.
Recent supply chain and inventory management challenges have forced retailers to look at their merchandising management and assortment planning strategies in different ways. The execution of the strategies and tactics learned during this one-of-a-kind event will produce optimal performance of inventory and retail floor space, enhance store appearance and fulfill the retail experience for the customer, consistent with the retailer’s brand.
The program is targeted for buyer and merchant development, as well as higher-level store operations for retailers of different sizes and product focus. It is designed to accelerate the learning curve for all aspects of merchandising management.
COURSE SESSIONS
• Visual Merchandising Standards and Techniques
• Promotional Space Management
• Resets and Remodels
• Assortment Planning and Category Management
• Vendor Relations
• Merchandising Integration With Marketing
• Pricing Strategies and Management
• In-Store Technology and Design Elements
WHAT YOU GET
• Eight in-person course sessions presented by industry experts
• Breakout workshop sessions with your peers
• Guided show floor tours led by former retailers
• Networking opportunities with retailers, instructors and vendors, including the Foundations of Merchandising Management Live! evening reception
• ROI-driven follow-up assignments and a capstone assignment to take back to stores
• A final video call with feedback on the course assignments
• A certificate in merchandising upon completion of the course sessions, post-session assignments and a wrap-up video call
• Continental breakfast and lunch each day
EDUCATION
Explore Our Education Platform
Visit YourNHPA.org/academy for more information on NHPA’s educational offerings.
Did You Listen to These Episodes?
Subscribe and listen to podcasts at YourNHPA.org/podcasts
“Look at your culture, and then think about what your community has in terms of populations that might not be getting jobs, and see if there is something you can do.”
“Don’t be afraid to compete with anybody. Independent paint dealers are as competitive now as ever. I think independent retailers are making a resurgence.”
“The home improvement industry really is a family. No matter where you go across the country or across the world, there is something special about it.”
Schaefer Discusses “Recovery Hardware” and Community
EPISODE 69
NHPA’s Dan Tratensek and Renee Changnon have a conversation with Gina Schaefer, founder and CEO of A Few Cool Hardware Stores, a chain of 12 hardware stores.
TRAINING
Spectrum Paint President Talks Expansion
EPISODE 70
NHPA staffers Renee Changnon and Melanie Moul have a conversation with Travis Detter, president of Spectrum Paint Co., which he co-founded in 1986.
NHPA Tours the International Hardware Show
EPISODE 72
Come along as NHPA associate editor Lindsey Thompson recaps her visit to the 2022 Eisenwarenmesse International Hardware Fair, held in Cologne, Germany.
Refresh Your Merchandising Skills
Visit YourNHPA.org/membership to learn more about Premier Membership courses.
IN THIS ISSUE OF Hardware Retailing, you’ll see examples of some creative ways retailers around the country are merchandising their stores. Effective merchandising is one of the critical operational tasks you have as a retailer; it’s the key to optimizing inventory performance and driving profitability. Every employee will benefit from having an understanding of the foundational principles of effective merchandising. They are on the front lines of helping customers find what they need and keeping displays clean, organized and easy to shop. Give your employees a refresher on what it takes to create effective merchandising with NHPA’s Basic Training in
Merchandising course. Ten modules walk learners through the fundamentals of merchandising, including why it’s important to a business, design principles of different types of merchandising and basic housekeeping that will keep the salesfloor looking good all of the time.
The Basic Training in Merchandising course is available to NHPA Premier Members. Visit YourNHPA.org/membership to learn more. You can also find quick and easy ways to refresh your employees’ merchandising skills with a variety of Trainer’s Toolbox lessons focused on the topic. Find them at YourNHPA.org/merchandising.
Gina Schaefer A Few Cool Hardware Stores
Travis Detter Spectrum Paint Company
Lindsey Thompson NHPA
As a Do it Best member-owner, you can invite your customers to explore the industry’s largest selection of liquid paints, primers, and sundries.
The Color Bar ™ transforms your paint department into an informative, inspirational customer experience that will keep them coming back.
Add product training and support, exclusive brands, and efficient delivery from our warehouses, and it‘s easy to see how Do it Best can establish your business as the first, best and only choice for paint.
Discover how Do it Best can help you become your community’s paint shopping destination. Call us today at 888-DO-IT-BEST (888-364-8237) or visit doitbestonline.com.
TRENDS
OPERATIONS
Money in Movers
Discover why new movers make good customers at hardwareretailing.com/new-movers
HOMEBUYERS IN ON HOMING
CATERING TO CUSTOMERS’ HOUSE NEEDS
IN SPITE OF OTHER economic uncertainties, the housing market has stayed competitive. In this hot market, learning what types of houses are being purchased, who is buying them and their motivation for purchasing allows retailers to target new customers and better understand and serve their current ones.
The average age of homes purchased 2020-2021 2019-2014
19% of homebuyers purchased multifamily homes to take care of aging parents.
29%
34% of homebuyers were single women, the second largest buying group after married couples.
With over 61% of homebuyers purchasing houses over 20 years old, many of these homes will require renovations or future repairs Educate yourself on what types of homes are prominent in your area and stock the right mix of products for home repair, like specialty plumbing and electrical, that meet the needs of those homeowners.
Source: 2022 Home Buyers and Sellers Generational Trends Report, National Association of Realtors® Research Group. of all homebuyers were first-time buyers in 2021, an increase from 31% in 2020.
BUSINESS FOR SALE
Northwest Farm & Home Supply Co.
Location: Lemmon, SD
Gross Revenue: $3.21 million
The main building is a total 27,213 sq. ft. of retail and warehouse space on 4 acres. The main bldg. was constructed in 1994 with additions constructed in 2002 & 2004. Single story with 22’ clear height in 11,459 sq. ft. of lumber warehouse, three grade level doors and two dock height doors.
BUSINESS FOR SALE
Central Vermont Paint, Flooring, and Decorating Business
Location: Vermont
Gross Revenue: $2.82 million
Price: $1.1 million
Full-service decorating store providing flooring, paint, window treatments, kitchen/bathroom remodeling, cabinetry product offerings, design assistance, specialized service, and professional installation.
SEEKING BUSINESSES
The Aubuchon Company
BUSINESS FOR SALE
Home Improvement Supply Store
Location: Missouri
Gross Revenue: $1.04 million
This historic home improvement and hardware store is a staple of its community and operates from its headquarters in Missouri. The Company is a long-standing retailer and installer of consumer and commercial improvement products.
BUSINESS FOR SALE
Hoosick True Value
Location: Hoosick Falls, New York
Gross Revenue: $1.26 million
Price: $1.875 million
This opportunity offers a turnkey sale of a general hardware operation located in northeastern Rensselaer Co., New York. The business serves five towns, southwestern Bennington Co., Vermont, and 25 miles east of Troy, New York.
For our next acquisition, we are looking for:
• Single-store and multi-store hardware operations
• Located in northeast and southeast United States Store size of 5,000-30,000 ft2
• At least $3 million in average store sales
BUSINESS FOR SALE
Private Business
Location: Alabama
Gross Revenue: $2.21 million
Price: $649,000
SEEKING BUSINESSES Bolster Hardware
We are looking for:
• Geography agnostic
• With or without real estate Store revenues of $1.5M+
• We prefer to honor the family name and heritage in the local community by not changing the name
• We prefer to keep all employees as part of the acquisition
PRODUCTS
Retailer Recommendations
Send a note to editorial@YourNHPA.org about products you can’t keep on the shelf. Include your name, your business name and reasons why you love it.
Texture Stencil
MARSHALLTOWN’s Knockdown Texture Stencils make it easy to add knockdown texture to walls or ceilings after patchwork. Made of durable plastic, they’re reusable and easy to clean. The stencils are 8 inches by 10 1/2 inches and include light, medium and heavy stencils to match existing textures.
MARSHALLTOWN marshalltown.com or 800-888-0127
Stainless Steel Wet/Dry Vacuum
The Vacmaster Professional Wet/Dry Vacuum features a 14-gallon stainless steel tank with a push handle and a 6 1/2 Peak HP motor. It includes an on-board hose, cord and accessory storage, nonmarring wheels and locking casters, a 20-foot power cord and a unique flat power head design. It has a 27-foot cleaning reach with a hose and power cord and converts to a blower.
VACMASTER | vacmaster.com or 866-384-8432
Inverter Generator
Yamaha Motor Corporation’s EF2200iS Inverter Generator delivers 2,200 watts of power with a maximum AC current of 18.3 amps at 120 volts using an MZ80 OHV, air-cooled, single cylinder, 4-stroke engine. It can be paired with a second unit to deliver a combined power output of 30 amps. It is capable of running for 10 ½ hours with noise levels of 57-65 dBA and has a CO sensor in its detection and shutdown system.
YAMAHA | yamahamotorsports.com
Mosquito Killer
Spartan Mosquito Pro Tech kills mosquitoes for up to 30 days so users can enjoy the outdoors. It doesn’t require batteries or electricity; just add warm water and shake thoroughly. It kills mosquitoes that may carry West Nile virus, Zika virus, dengue fever, St. Louis encephalitis, Western equine encephalitis and Eastern equine encephalitis. Mosquito Pro Tech is 100% American made and features a 30-day money-back guarantee.
SPARTAN MOSQUITO
spartanmosquito.com or 844-625-2742
“The Spartan Mosquito eradicator is highly effective for mosquito control. I use them in my own backyard, and they are very popular with our customers.”
—Erin Veraguth, Family Center Farm & Home
Smart Door
Masonite®’s M-Pwr™ Smart Door integrates into a home’s power supply and includes LED welcome lighting and a battery backup so it’s always on. An available smartphone app lets homeowners control lights, check if the door is open or closed and customize settings.
MASONITE masonite.com or 800-663-3667
Drain Cleaner Stick
SANI 360° ® Sani Sticks® are concentrated cleaning and sanitation sticks that keep water flowing and pipes odor-free. The sticks can be dropped in the drain once a month and sit in the trap, slowly releasing a blend of enzymes to break down food, grease and other organic materials. Sani Sticks are safe for use on all drains and septic systems.
SANI 360° | sani360.com or 844-531-8908
Blackout Curtains
Eclipse Blackout Collection curtains block 99% of outside light, including harmful UV rays. Patented Thermaback technology also reduces unwanted noise and provides an insulated barrier against summer heat or winter chill. Eclipse blackout curtains are 100% polyester and machine washable.
ECLIPSE eclipsecurtains.com or 800-613-7322
Folding Pocket Knife
Victorinox’s Classic Alox pocket knife features a woven design in five colors. It has five tools: small blade, scissors, nail file, 2 1/2 mm screwdriver and key ring. It weighs less than one ounce.
VICTORINOX swissarmy.com or 800-442-2706
Children’s Table and Chair Set
COSCO’s Kids 2-Piece Table & Chair Activity
Set features a pinch-free design that ensures safe use, a 50-pound weight capacity for the table and a 150-pound weight capacity for the chair. It is durable and easy to clean using a damp cloth and comes in a neutral gray color.
COSCO coscoproducts.com or 800-628-8321
Epicor for Retail solutions equip your team with intuitive tools that streamline operations and drive more revenue and profitability. That’s working with you, for you.
Electronic Building Blocks
E-Blox’s Circuit Blox™ is a 22-piece building block set that includes 50 different projects to teach about electricity, current and voltage. Builders ages eight and up can discover how lights, alarms, motors, switches and more work while building fun projects. E-Blox building blocks are compatible with other building brick sets and are a STEM.org Authenticated™ Educational Product.
E-BLOX INC.
myeblox.com or 855-693-2569
Color-Changing Orb Light With Speaker
Feit Electric’s Colorful Orb LED Light includes a Bluetooth® speaker and remote control. It is water- and dust-resistant and features a variety of color-changing modes, including fading, strobing, music sync and more. It lasts up to four hours on a single charge.
FEIT ELECTRIC | feit.com or 800-543-3348
Weld Shaver
Metabo’s PFM 17 Weld Shaver cleanly removes weld beads in a single step. The one-touch controller allows tool-free setting of cutting depth in 0.1 mm increments, and it features a streamlined, large bow-type handle with toolless adjustment.
or 800-638-2264
Mosquito Trap
INZECTO’S Mosquito Trap provides three months of mosquito control using a micro-dose of insecticides embedded into the interior of the trap. Activated by water, the trap provides a stagnant water environment to attract mosquitos, and the embedded insecticides kill the larvae. The INZECTO Mosquito Trap is EPA-approved.
INZECTO
inzecto.com or 844-944-2601
Gina Schaefer and Marc Friedman, owners of A Few Cool Hardware Stores, implemented an employee stock ownership program, giving employees partial ownership of the company.
NEXT CHAPTER
3 Business Transition Strategies to Explore
BY LINDSEY THOMPSON
Whether planned or unexpected, every business changes hands at some point, and most make a transition several times in the life of the operation. According to the PwC 2021 Family Business Survey , 50% of family businesses expect to increase the diversification of their business holdings in the next five years. While 96% of those businesses expect to grow, only 56% say there is
family alignment on the direction the company should pursue and what growth looks like.
Whether you are looking to exit the industry or dive in deeper, on the following pages, gain insights on business transition strategies from Gary Pittsford, chief valuation officer for Creative Planning. Plus, see the paths three retailers took for business transition to learn best practices for writing your next chapter.
Draft the Right Docs
Learn the documents you need for a smooth business transition experience at hardwareretailing.com/succession-documents.
Pass Down to Family
According to the 2020 U.S. Census, there are 73 million baby boomers in the country and by 2030, all baby boomers will have reached retirement age. In the next decade, home improvement operations run by baby boomers will see significant turnover, and one path they can embrace is handing the business to a family member. This is the route Jack and Pam Stevenson of Stevenson’s Ace Hardware in Crawfordsville, Indiana, took last year when they sold the business to their son, Skylar Stevenson. The Stevensons were working on a three-year transition plan with Pittsford’s consulting company, but the timeline accelerated when the building the Stevensons leased went up for sale.
“An investor was looking seriously at buying the building, so I knew I either had to buy it myself or risk not knowing the future of the business,” Skylar says. “I worked closely with my banker at Live Oak Bank, and he advised me to not only buy the building but the business as well.”
Skylar chose a stock purchase of the business. The deal was closed in 95 days, much faster than the three-year plan the Stevensons had anticipated. Skylar says his parents assisted him with the financing to help the contract come together.
For the Stevensons, being transparent and open was key to the transition going smoothly.
“The more you can keep everyone informed that might someday be possibly involved or have a financial stake, even if it’s an unspoken stake at the time, the easier and smoother the process will be,” Skylar says.
Skylar also suggests clearly communicating with your customers about the transition process. The Stevensons used a local marketing company, which developed messaging the store used to communicate the transition.
“Pass the Torch” communications were sent to customers through email, in-store signage and on social media.
“Even with all the messaging we did, there was still some confusion as to when my parents would actually step down from the store, so I think the more precise and clear you can be with customers, the better,” Skylar says.
Skylar says his wholesaler and the North American Hardware and Paint Association (NHPA) were also instrumental in the transition process. During the transition, Skylar was participating in NHPA’s Retail Management Certification Program, which was helpful in preparing him for ownership.
“Ace made it a smooth transition from my parents to myself,” Skylar says. “And all of my classmates in the NHPA program were really encouraging, checking in with me to see how the process was going.”
(Photo on left) Skylar Stevenson (right) took over ownership of Stevenson's Ace Hardware from his parents through a stock option purchase. (Photo on right) During the transition, Skylar received encouragement from fellow NHPA students.
While the Stevenson’s transition worked out despite the tight timeline, Gary Pittsford, chief valuation officer for Creative Planning, recommends having an exit or transition plan in place three to five years before the owner plans on retiring. Making this plan early also protects the business in case of the unexpected death or disability of the owner.
And planning shouldn’t stop with the owners. When the next generation comes into a leadership role, they should be thinking about their own succession plan, Pittsford says.
“Young retailers may not know who they will sell their business to in 20 years, but they should manage their business to make it financially strong,” Pittsford says. “From age 40 to 60, if retailers watch the financial side of their business and keep it strong, their succession plan will be easier to implement when they are ready to sell.”
One way to remain strong financially is to think outside the business. Pittsford says he has seen many business owners take any profits from the business and put them right back into the operation, which is a good business practice. But he also advises that some of those profits go toward investments outside the business, such as in the stock market, an IRA or 401(k), real estate or other assets.
“So many retailers take the money they make and buy more inventory or a truck or forklift or whatever they need for the company. When they go to sell, all of their assets are tied up in the business,” he says. “When they want to sell, the owner has to get the highest dollar they can for the business in order to have enough money to live on in retirement. I recommend spending 10 to 20 years before retirement investing in the business, but also putting money in other areas so you’re diversified.”
Sell the Operation
With the boom in business in 2020 and 2021, many retailers are flush with cash and are looking to expand their retail footprints through acquisitions of existing home improvement businesses, which is great news for retailers wanting to sell.
Jorge Morgado and Mario Tedeschi, the owners of Allied Flooring, Paint and Design, went the acquisition route to grow their business and in the process kept another family-owned business running. The operation acquired Budget Cabinet Sales, a locally owned business adjacent to one of its stores in Agawam, Massachusetts. Allied Flooring, Paint and Design also has a location in East Longmeadow, Massachusetts.
“Each of our locations offers different types of products and services, allowing us to better serve our customers’ wide variety of needs,” Morgado says. “We always strive to be a one-stop shop for our customers.”
BUYING NEXT DOOR
Jorge Morgado and Mario Tedeschi, the owners of Allied Flooring, Paint and Design, purchased the neighboring cabinetry business.
Staying true to that business model, the acquisition of Budget Cabinet Sales provided Allied customers with another layer of products and services. Morgado says he saw other retailers diving into kitchens and thought it would be a good fit for Allied.
“Because Mario is friends with the Lloyd family, who owned Budget Cabinet, we knew they would be selling the business. We started communicating with them about buying about nine months before the acquisition,” Morgado says. “We are always thinking of the one-stop shop environment, and this deal gives our customers at Agawam the ability to buy paint, flooring and cabinets in the same parking lot.”
As you walk through buying another business, Morgado recommends preparing for the emotional side of the deal. He says it’s helpful to acknowledge and honor the history of the company you're buying. While their way of doing business may not align with your own, you can still respectfully appreciate what they’ve built and are willing to sell to you.
Finding Value
Looking to sell? Find out how much your business is worth with valuation services through the NHPA Marketplace. Learn more at YourNHPA.org/marketplace
“Lean into the emotion, because the more you acknowledge what they built and the history around it, the more comfortable negotiations will be,” Morgado says. “We appreciated the model the Lloyd family built and assured them that we would continue that tradition of exceptional customer service.”
While Morgado says they were able to negotiate the company’s value with the Lloyds directly, Pittsford highly recommends going through a formal price evaluation. He says he has many owners who have decided that selling the business is the best option for their operation, but they have no idea what the business is worth. This is where valuation services are important to receive an accurate assessment of your company’s worth. It’s important to rely on consultants and companies that are well-versed in the home
improvement industry who can offer a more accurate value based on nationwide averages and walk you through the selling process. NHPA recently launched valuation services as part of its Retail Marketplace platform. Retailers who are interested in selling can work with Pittsford to get an accurate valuation of their business and list their businesses for sale on the marketplace, which is advertised to retailers throughout the industry who are ready to buy.
“Sellers can take the valuation report to the buyers, and it really helps in the negotiation process,” Pittsford says. “Valuations are also useful for other needs, including determining value for probate if the owner dies or when owners get a divorce.”
Learn more about the NHPA Retail Marketplace and valuation services at YourNHPA.org/marketplace.
Purchasing the cabinetry business allows Allied Paint, Flooring and Design to diversify its product offerings to better serve customers. EXPANDED OFFERINGS
How an ESOP Works
Discover the basic tenets of an employee stock ownership program.
1
Set Up a Trust
The owners set up a trust in the form of a government-qualified pension plan to hold the shares of the company on behalf of the employees. All employees have an account with the trust.
3
Pay Down the Loan
The business pays down the loan using its profits, and once the loan is paid off, those profits are shared with all employees by increasing the ESOP. The ESOP is essentially a long-term retirement plan, where the ESOP holds the shares with an evaluation done by an independent appraiser each year to determine value.
2
Take Out a Loan
If the ESOP doesn't have enough cash to purchase all of the owner’s shares, the trust takes out a loan to purchase, with the value of the shares determined by an independent appraisal. An owner can sell all their shares upfront or a certain percentage of shares at a time.
4
Shares Allocated to Employees
The ESOP shares are allocated to the eligible employees based on several factors, such as years of employment and wages, with each ESOP differing in both employee eligibility and the stock allocation method. When an employee leaves the company, their shares are cashed out, similar to a retirement plan.
In 2021, employees of A Few Cool Hardware Stores gained ownership in the company through an employee stock ownership program.
OPERATIONS
From the Inside
See how two retailers handle internal shrinkage issues from employee fraud to inventory errors at hardwareretailing.com/internal-shrinkage
“Owners need to let employees know when they work hard, whether they are on the salesfloor, working in admin or out in the lumberyard, the value in the ESOP goes up and their financial benefit does too.”
—Gary Pittsford, Creative Planning when the the
Form an ESOP
Another option is an employee stock ownership plan (ESOP), which is a tax-qualified retirement plan regulated by the federal government where the only investments are in that company’s stock. So, if the company does well and the value of its stock increases, the value of the ESOP and each employee’s share of the ESOP increases.
While forming an ESOP isn’t a good fit for all retailers because of the initial financial investment needed and the yearly costs, for larger companies, it can be another option that benefits their employees.
“In an ESOP, every employee in the company has a small piece of that retirement plan,” Pittsford says. “It’s really important that every employee works hard to make the company more valuable or more profitable, because if the company is more profitable, everybody in the company benefits.”
A Few Cool Hardware Stores became employee-owned in 2021 through the development of an ESOP. Gina Schaefer and her husband Marc Friedman started the company in 2003 with one store, and they have since grown the operation to 12 locations in the greater Washington, D.C., area.
Schaefer says she started thinking about their exit strategy early thanks to the recommendations of friends, and she began looking into an ESOP in year 16 of the business.
“Small business owners don’t often spend enough time thinking about what their exit strategy is and how many options we actually have,” Schaefer says. “We love our neighborhoods and our team, and we wanted to make sure that we were creating an ongoing legacy for the neighborhood with our hardware stores.”
The couple does not have kids, so that type of succession was not an option for them, and the business had grown to the point where they didn’t feel they had one person on their team who could buy it. There were no other Ace Hardware retailers looking to buy in their area, and Schaefer and Friedman also didn’t want to sell to private equity.
“The recent political and social strife of the last few years is felt acutely in our area. It was important to us to advocate for and build up our teammates. We felt selling to a private firm would slow the progress we had made growing our culture,” Schaefer says. “So when we laid all of the options on the table, we really liked the idea of an ESOP.”
Once they decided to go the ESOP route, Schaefer reached out to fellow retailers who also have ESOPs and utilized the resources of the Employee Ownership Exchange Network, which works to expand employee ownership across the U.S. through a network of nonprofit state centers for employee ownership.
For an owner, an ESOP is a way to leave the business in the hands of people who helped build it, while unlocking tax benefits for the owner and the business. An ESOP also benefits the employees, giving them a vested interest in the company beyond just a job.
Pittsford says it is important for the owners to convey these benefits to employees frequently and clearly.
“Owners need to let employees know when they work hard, whether they are on the salesfloor, working in admin or out in the lumberyard, the value in the ESOP goes up and their financial benefit does too,” Pittsford says.
Schaefer says those two benefits were incentives for her and Friedman as well.
“Our ESOP consultant said that we would have had to sell the business for 20% more in the open market because of the tax benefits we get from forming an ESOP,” she says.
In August 2022, the ESOP celebrated its first anniversary, and the employees saw firsthand the benefits it provides them, Schaefer says. At her company, an employee is eligible to join the ESOP after one year and 1,000 hours worked.
“We had 165 teammates who automatically qualified when we announced the ESOP in 2021,” she says. “My co-owners received their first ESOP statements a year later and saw how their hard work paid off. We offer them a way to build wealth that they may not have access to at another job.”
OPERATIONS
Doing Displays Right
Discover farm, pet and ranch merchandising display ideas at hardwareretailing.com/fpr-displays
More Merchandising
Less Mayhem
STORE DISPLAYS TO INSPIRE YOUR VISUAL MERCHANDISING
BY CARLY FRODERMAN
Merchandising plays a critical role in the overall success of a business. It improves profitability by generating more margin dollars, controls costs by improving the productivity of the salesfloor and employees and increases sales by making a store appealing to customers.
Good merchandising makes shopping easier for customers and gives them reasons to come back often and spend more money. Hardware Retailing collected photos from stores NHPA staff visited in the past year to highlight how retailers across the country are excelling in their merchandising and spark inspiration in your own operation.
OPERATIONS
Get Creative
Learn how to use creative merchandising to enhance your outdoor furniture at hardwareretailing.com/merchandising-furniture
Improve Your Merchandising
NHPA’s newest program, Foundations of Merchandising Management
Live!, is a two-day educational event sponsored by and held on-site at the 2023 National Hardware Show. This in-person, interactive experience will combine classroom education from industry experts and hands-on learning on the show floor.
NHPA worked with industry-leading retailers to develop this new program to provide attendees with the necessary strategies and skills to successfully improve and manage their merchandising and assortment planning. Learn more on Page 10 or visit YourNHPA.org/foundationslive
Key Takeaways
• Visual merchandising standards and techniques
• Promotional space management
• Resets and remodels
• Assortment planning and category management
• Vendor relations
• Merchandising integration with marketing
• Pricing strategies and management
• In-store technology and design elements
5 Best Practices
From Merchandising Expert Tony Corsberg
Tony Corsberg has over 45 years of experience in home improvement retailing, was vice president of merchandising and marketing at Friedman’s Home Improvement and is a founding member of the North American Hardware and Paint Association’s (NHPA) marketing and merchandising roundtable. More recently, he has been active in the creation of NHPA’s new program, Foundations of Merchandising Management. Hardware Retailing spoke with Corsberg about the five P’s of merchandising
Product
Item selection and product assortment are critical in a well-merchandised store. Without the right products and the right mix of products, the rest of the merchandising will struggle.
Price
Maintaining pricing accuracy and ensuring the price is acceptable to the customers in your market is vital to customer satisfaction. Ignoring this element of merchandising can make the customer less likely to follow through with a purchase.
Presentation
The visual merchandising piece of retail, from store layout and planogramming to defined merchandising standards that are appealing to the customer, is a critical step. The more effective the product presentation, the more likely the customer makes the purchase.
Promotion
Whether it’s the use of store promotional spaces like endcaps and stack outs, in-store signage, print ads, digital marketing or any other effective promotional activities, marketing will greatly improve a retailer’s merchandising performance.
People
Investing in training and ensuring your sales associates are knowledgeable about products and projects is a key differentiator.
Cole’s Hardware’s Mifflinburg, Pennsylvania, location has a cut-to-length tubing display that allows customers to tell employees what length they want and provides a place to store bulky hoses off the salesfloor.
Busy Beaver’s Delmont, Pennsylvania, location stores sheet bulk lumber on rolling carts so customers don’t have to load their own carts and can roll the cart to their vehicle and load it directly.
Carthage Hardware in Carthage, Missouri, utilizes a video demo to further enhance its single-item endcap, allowing customers to see firsthand how the product might be helpful.
Located in Brooklyn, New York, Crest Hardware and Urban Garden Center’s cross-merchandised endcap is well-balanced, fronted and full, and the colorful packaging of the eye-catching products grab customers’ attention.
Busy Beaver’s full and neatly organized dump bins have straightforward and vibrant signage, catching customers’ eyes and appealing to their desire to save time and money.
Family Center Farm & Home’s Ozark, Missouri, location utilizes a stack display, which brings extra focus to the product and sends a message to shoppers that the store has plenty of that product in stock.
E&H Ace Hardware’s Wooster, Ohio, location showcases low-priced items that make good impulse purchases near the checkout area. These items remind customers of something they have forgotten, appeal to a customers’ desire to save money and they create a sense of urgency to buy right away.
Holiday Hype
Download this unique holiday calendar to inspire your customers with some unexpected celebrations and encourage unique merchandising at hardwareretailing.com/merchandising-calendar
Growing Up HARDWARE
BY LINDSEY THOMPSON
(Left to right) Tim, Samantha, Mary and Scott Post own and manage T&M Hardware, which has six locations. FAMILY FIRST
Returning Home
Learn how one retailer returned to her Alaskan hometown to take over the family business at hardwareretailing.com/family-legacy.
T&M Hardware Owners Grow a Family and a Business
Wanting to operate a hardware store that offered more than just home improvement products, Tim and Mary Post opened T&M Hardware and Rental in Ellwood City, Pennsylvania, in 1991 with the mission to serve their community. In the three decades since, the couple has grown the operation to six locations and has raised their four children in the industry.
Samantha Post says she and her three siblings all worked for their parents in the store after school and on weekends when they were teenagers to earn extra money.
After graduating from college, Samantha and her brother Scott worked in the corporate world before returning to positions in the family business. Scott came back to the company in 2012 and Samantha returned in 2013. They both use the real-world experience they gained in their outside careers in their new roles at T&M Hardware and Rental. Samantha is the company’s HR and marketing manager and Scott works as the purchasing and rental manager.
“While I don’t have a formal background in home improvement, you can’t help but learn the ropes (pun intended!) and end up with an MBA when you grow up in a hardware store,” Samantha says.
From Parents to Partners
Like many other family businesses, making the transition from a parent-child relationship to a relationship of business partners took some navigating, Samantha says. She and her brother also had to work through the generational differences between their parents as baby boomers and themselves as millenials.
“We have been able to successfully manage this complex dynamic by ‘staying in your lane’ as we like to say. We try not to take things personally so they don’t affect us as a family outside of work,” Samantha says. “Each of us handles a different aspect of the business and act as the primary decision-maker for our respective areas, but the decision-making process and execution requires us to keep in constant contact with each other.”
Almost daily, Samantha is in contact with not only her parents and Scott, but also her other siblings and their spouses.
ENGAGED EMPLOYEES
Each and every T&M Hardware employee is considered a part of the family and managers are encouraged to adopt an entrepreneurial mindset.
A FAMILY AFFAIR
“It’s really nice because we were lucky to connect with each other once or twice a month when my brother and I worked for someone else,” she says. “Now, we all get to see each other regularly and work together often, which is super helpful, and because we were all raised by the same people, we all share the same work ethic.”
Leaving a Legacy
Family doesn’t stop with those bearing the Post name; every T&M Hardware employee is considered and treated as family, Samantha says. The Posts strive to ensure employees have a healthy work-life balance. For example, if a staff member has a family emergency or other personal need during the work day, Samantha says they always encourage the employee to take care of their family first. The remaining team members step up to operate the store shorthanded and cover their co-workers’ shifts. The Post family also stays up
to date with new babies, school milestones, weddings and other family news.
“We've helped our staff navigate buying homes and vehicles and have helped how we could when employees have lost their spouses,” Samantha says. “When the younger kids who work for us come back to the area, they always stop in to say hello and keep us updated on where they’re at in their lives.”
As part of the family, employees’ voices are heard and also taken into consideration, something that is key to the company’s culture. Tim and Mary started the business because they wanted the opportunity to follow their passions on their own terms, Samantha says. Being able to have their ideas heard and accepted was a big contributor to Samantha and Scott leaving the corporate world and returning to the family business.
Continued on Page 40
Each of the Post siblings worked in the original T&M Hardware store as teenagers to make extra money and are grateful for the legacy their parents have created. (Left to right), Scott Post, Jenna Myers, Samantha Post and T.J. Post
The Future Looks Bright
The Young Retailer of the Year program recognizes retailers under the age of 35 who are making an impact in the industry. Learn more at YourNHPA.org/yroty
“My focus continues to be developing our human resources, automating our operations where applicable and finding creative avenues to sell products online, mainly through social media right now. We just launched our new website, so I’m excited to grow our e-commerce business.”
—Samantha Post, T&M Hardware and Rental
From the Inside Out
In 2019, Samantha Post was named one of the North American Hardware and Paint Association’s Young Retailer of the Year honorees. The honor recognized her commitment to grow her career and her family’s business. When she came back to the family business in 2013, her parents were focused on external growth, so she aimed to improve the operation internally. Samantha improved the company’s marketing efforts, creating a digital advertising strategy and implementing a branding program to connect all six of the company’s locations. Using her background in behavioral sciences, Samantha introduced new hiring tools that aided in retention and reduced turnover.
In the three years since she’s received the honor, Samantha has continued to support the communities where the operation has stores, especially during the challenges that the pandemic brought on in the last three years.
“Our family has done a phenomenal job navigating product shortages, inflation and retaining employees through it all, and I couldn’t be more proud of that,” she says. “My focus continues to be developing our human resources, automating our operations where applicable and finding creative avenues to sell products online, mainly through social media right now. We just launched our new website, so I’m excited to grow our e-commerce business.”
Learn more about the Young Retailer of the Year program and nominate an outstanding and deserving young retailer under the age of 35 at YourNHPA.org/yroty
Samantha Post returned to work full time for her parents’ business in 2013 after spending time in the corporate world.
LEARN ON THE JOB
“We take advantage of every opportunity we can, we have the ability to make decisions and we have faith and trust in ourselves and each other.”
—Samantha Post, T&M Hardware and Rental
Continued from Page 38
While Samantha says there’s a time and place for requiring consistency across all stores, they also encourage store managers to make their own decisions for their stores regarding product mix, in-store sales, staffing and culture.
“Because of our experiences working for someone else, it’s important that our culture provides our teams with the same sense of independence while toeing the line of being a small corporation with our six locations,” she says. “We want them to share in that entrepreneurial spirit without taking on the full risk that comes with being a true entrepreneur.”
The company’s success over the last 30 years and ability to weather a pandemic, product shortages and inflation issues comes down to three key aspects, Samantha says.
“We take advantage of every opportunity we can, we have the ability to make decisions and we have faith and trust in ourselves and each other,” she says. “It’s as simple and as complicated as that for us.”
Samantha says her parents are looking toward retirement and leaving the company in the capable hands of her and her siblings.
“As my father looks to sunset his career in the near future, he is focusing on preparing my siblings and I to carry on the family legacy and incredible business he and my mom have created,” she says. “We know we have big shoes to fill, but we look forward to continuing the legacy they are leaving us.”
Scott Post (right) has learned the ins and outs of the business working with his dad Tim Post on a daily basis.
Perfecting Plumbing
3 Ways to Improve Your Plumbing Category
BY CARLY FRODERMAN
Acore category, plumbing may not be considered the most inspiring area of your salesfloor. However, investing in categories that are regular traffic-drivers can lead to more knowledgeable team members, which creates more satisfied customers and increased sales. Hardware Retailing spoke with Michael Gillette, the manager of plumbing, hardware and fasteners at McGuckin Hardware located in Boulder, Colorado, about how he ensures the store’s plumbing department meets the needs of a diverse set of customers.
RESOURCES
Sustainable Solutions
Discover how to help your customers save money and the planet with sustainable plumbing solutions at hardwareretailing.com/sustainable-plumbing
“Plumbing tape is almost always an automatic add-on.”
—Michael Gillette, McGuckin Hardware
Service and Experience
In the plumbing department at McGuckin Hardware, customers rely on the expertise of employees, which includes a certified master plumber with over 40 years of industry experience and another employee who has been working in plumbing at McGuckin for more than 23 years. Their knowledge, paired with an elite customer service team who is ready and able to answer questions, makes an impression and builds trust, Gillette says.
“Once that trust is built, the next time the customer has a problem, they come back to us,” Gillette says. “We have customers who have learned employee schedules because they appreciate and trust them so much.”
Finding a Balance
McGuckin Hardware serves a variety of contractors and DIYers at different income levels, which makes product mix tricky, Gillette says. The store stocks the basics along with commercial fittings, sprinkler systems and specialized fittings, and he says it is important to sell more than just new parts, but also items for older products like a 50-year-old faucet.
“We are also really special-order friendly,” Gillette says. “If a customer or contractor wants to bring in a specific product or part, and I think there is enough demand, I go ahead and start stocking it.”
Creativity Is Key
While there is little change in the plumbing department and the products aren’t often exciting to customers, Gillette says he and his team make an effort to promote what is new and merchandise it well. Gillette also supports constant experimentation and encourages his team to come to him with new ideas on how to merchandise products and create interesting displays.
“I have one team member right now trying to pitch a bidet Christmas display to me,” Gillette says. “He is still working on selling me on it and fleshing out the idea, but having this openness and idea generation is important and gives us an edge.”
Top Trends
WHAT’S TRENDING IN PLUMBING
While behind-the-scenes plumbing parts and fittings tend to remain consistent, Gillette highlighted a few trends he is seeing.
EUROPEAN FITTINGS
ANTIQUE BRASS FINISHES IN KITCHEN AND BATHROOM FITTINGS
REVERSE OSMOSIS FILTERS
CHECKOUTS
SHARE YOUR IDEAS
Engage With Your Customers
Have an idea? Send an email to editorial@YourNHPA.org to have your story considered for publication.
Much-loved by employees and customers, store cat Morris was accidentally taken from and thankfully quickly returned to Granby Ace Hardware in Granby, Colorado.
COMMUNITY
Home Sweet Home
BELOVED STORE CAT RETURNED TO GRANBY ACE HARDWARE
EVERY MORNING at Granby Ace Hardware in Granby, Colorado, Morris the cat takes on pest duty, ridding the hardware store and the neighboring buildings of mice and other vermin. Morris is more than just an employee serving the customers of Granby Ace; he is a cherished member of the family, says owner Amy Kaplanis.
In August 2022, Morris was patrolling the outside of the store when he was mistakenly picked up as a stray. Thanks to people sharing the news of his disappearance on social media, Morris was returned to the store after a short time and was able to resume his duties as pest control and customer and employee favorite.
“Morris is a member of the family and an integral part of our team,” Kaplanis says. “He listens in to our morning huddles, and during the day you can usually find him on the counter. Customers have to hand products over him because he’s taking up space trying to get belly rubs and attention.”
The day after Morris was returned, the store ran a special promotion where anyone who mentioned Morris received $5 off their purchase.
“We wanted to thank the community because the outpouring of support was amazing,” Kaplanis says. “People shared our Facebook post, and there was a lot of communication around the town. We couldn’t have found him without all the help.”
Guessing Game Giveaways
Offering a fun spin on the typical giveaway, Everson’s Hardware Hank in Waconia, Minnesota, hosted a series of contests where customers had the opportunity to guess how many items were in a jar for a chance to win a pair of tickets to the Carver County Fair. Owner Deborah Everson posted about the contest on the store’s Facebook and Instagram accounts for three days, and for two of those days customers could also submit guesses in the store. Each day featured a different type of item in the jar, including salt water taffy, nuts and cap screws. The guess could not be over, and customers could guess once each on the Facebook page, Instagram page and in the store.
“We’ve done similar contests before, and each time our goal is to support and promote our community and other businesses in the area,” Everson says. “This particular contest promoted our local fair, which is something we do every year that our customers look forward to. It’s a fun way to bring the community together and get people engaged in what we’re doing at our store.”
Employees also took part in their own guessing game. Everson gave each employee a chance to guess the date that construction on the road in front of the store would be completed and the employee who had the closest guess earned a four-pack of Hank’s Beverage Co. Root Beer, a favorite of customers and employees alike that is sold in the store.
Personalized Gift Giving
New for this holiday season, HomCo Lumber and Hardware in Flagstaff, Arizona, offers customers a way to give personalized gifts. The store added a custom engraver that customers can use to create personalized signs, picture frames, plaques and more. Next to the engraving machine is a display of the items that can be engraved for customers to browse. Once a customer chooses an item, they scan it into the machine and use the computer to choose a design template. Then they add the text they want to be engraved on the item and the machine does the rest.
COMMUNITY
Visits With Old Saint Nick
When the pandemic shut down the world, including many holiday events and activities, McCoy True Value Hardware in Indianola, Iowa, stepped up to bring Christmas joy to customers of all ages. In 2020 and 2021, the store hosted a drive-thru event in the parking lot, offering a socially distanced opportunity for kids to visit with Santa, says co-owner Jennifer Pfeifer-Malaney.
“My daughter and her cousins were elves working on toys, we had a drop-off box for letters to Santa and kids could meet Santa and Mrs. Claus at the end of the route,” she says.
This year, the store is partnering with a local radio station and youth foundation and offering kids a chance to share their lists with Santa on air in the mobile Big Red Radio.
“We plan on giving away Santa Bucks, which are $5 gift certificates each child can bring into the store to purchase a gift for someone special in their life,” Pfeifer-Malaney says.
Customers of Everson’s Hardware Hank could win county fair tickets if they correctly guessed how many items were in a jar.
McCoy True Value Hardware employees made the holidays special during the pandemic, hosting a drive-thru Santa event with holiday decor, music and more.
LAST WORD
OPERATIONS
Captivating Customers
Learn how merchandising can shape customer perceptions of your operation at hardwareretailing.com/merchandising-customers
DYNAMIC DISPLAYS
MERCHANDISING TRICKS TO ENHANCE YOUR OPERATION
UTILIZING A FEW simple merchandising tips can give your operation an edge over competitors. Discover three merchandising tricks you can implement in your business to boost sales and encourage repeat customers.
ENDCAPS
Put bulkier items on the bottom with smaller items above to keep the display balanced and appealing to your customers’ eyes.
DUMP BINS
Overflow these bins with products to show you have ample stock, which enhances your price image since consumers generally equate large quantities with low prices.
STACK DISPLAYS
Place these displays in a prominent place in the store, such as a power aisle, to catch customers’ attention and encourage sales.
Efficient Service, Dedicated Operators
COMMITTED TO THE LAST MILE
Our Fleet, Our Drivers
Orgill’s commitment to getting products into your store is paramount. Our modern, private fleet of 400+ trucks are all driven by Orgill employees. Not only do our drivers keep things running smoothly, but our operational model controls our expenses and we pass these savings along to our dealers.
We’ll go the extra mile for you. Contact us today.
Foundations of Merchandising Management Live!
January 31-February 1, 2023
2023 National Hardware Show, Las Vegas
Join us for a two-day educational event for new and experienced staff responsible for managing merchandising at their operations.
NHPA worked with industry-leading retailers to develop this new program to provide attendees with the strategies and skills to successfully improve and manage their merchandising and assortment planning.
Sponsored by and held on-site at the National Hardware Show, Foundations of Merchandising Management Live! combines classroom learning from industry experts and hands-on learning on the loor at the National Hardware Show.
Register to attend the event by January 1, 2023.
COURSE SESSIONS
• Visual Merchandising Standards and Techniques
• Promotional Space Management
• Resets and Remodels
• Assortment Planning and Category Management
• Vendor Relations
• Merchandising Integration With Marketing
• Pricing Strategies and Management
• In-store Technology and Design Elements
