Hardware Retailing May 2024

What does it mean to do it best? It means putting powerful tools to WORK FOR YOU.

Is your buying group more interested in selling products to you or helping you sell your products? At Do it Best, we’re committed to helping you sell to your customers. So rather than just selling you more inventory, we focus on helping you drive sales. Instead of offering a static digital database and warehouse space, we provide a robust ecommerce program and a world-class logistics and small parcel network. And of course, our industry-leading team of experts and proven retail programs are at your service.

Discover the difference a committed co-op partner makes. Call us at 888-DO-IT-BEST or visit doitbestonline.com.

“The partnership that we have formed with their team from the first time we met, has been something special. The hours they spent listening to our needs and creating the ideal ‘stop in shop’ of fasteners was impressive. Their packaging, presentation and selection are the best, without comparison, so the choice was easy- Midwest Fastener”.

Exceeding Expectations. One Fastener Destination at a Time!

* Pictured, Store Manager Alex Wiseman

- Randy Saunders, Owner, Provision Ace Southern Pines

1025 East 54th St. Indianapolis, Indiana

317-275-9400

NHPA@YourNHPA.org YourNHPA.org

The Argument for Growth HEADQUARTERS

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

Ned Green, Weider’s Paint & Hardware, Rochester, New York

EXECUTIVE VICE CHAIRMAN

Scott Jerousek, Farm and Home Hardware, Wellington, Ohio

DIRECTORS

Alesia Anderson, Handy Ace Hardware, Tucker, Georgia

Jay Donnelly, Flanagan Paint & Supply, Ellisville, Missouri

Ash Ebbo, Clement’s Paint, Austin, Texas

Joanne Lawrie, Annapolis Home Hardware Building Centre, Annapolis Royal, Nova Scotia

Michelle Meny, Meny’s True Value, Jasper, Indiana

Michael Sacks, FLC Holdings, LaGrange, 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

Gathering input from around the industry and from retailers of all sizes and affiliations, in next month’s issue Hardware Retailing will share five common growth challenges retailers are facing and the ways fellow retailers are overcoming these challenges to grow the channel.

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, MARKETING, SALES & PARTNERSHIPS

Whitney Mancuso

CONTENT AND PRODUCTION

317-275-9400, editorial@YourNHPA.org

SENIOR CONTENT MANAGER

Lindsey Thompson, lthompson@YourNHPA.org

RESEARCH & ENTERPRISE CONTENT MANAGER

Melanie Moul, mmoul@YourNHPA.org

CONTENT COORDINATOR

Jacob Musselman, jmusselman@YourNHPA.org

GRAPHIC DESIGNER

Autumn Ricketts

GRAPHIC DESIGNER

Olivia Shroyer

PRODUCTION MANAGER

Austin Vance

PRODUCTION & DESIGN ASSISTANT

Samantha Mitchell

SALES & PRODUCTION ASSISTANT

Freda Creech

MARKETING COORDINATOR

Nathan Piper

SALES

NORTHERN REGIONAL SALES DIRECTOR

Karen Hopkinson khopkinson@YourNHPA.org | 419-345-3306

SOUTHERN REGIONAL SALES DIRECTOR

Faith Zucker faith.zucker@YourNHPA.org | 216-316-8203

ASSOCIATION PROGRAMS

800-772-4424, NHPA@YourNHPA.org

DIRECTOR OF MEMBER OUTREACH & 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

CONTENTS

One of seven third-generation cousins involved in the family business, NHPA Top Guns honoree Wendy Stine has set her sights on growth, community and innovation to keep Stine Home + Yard successful for three more generations and beyond.

26 OPERATIONS

Build a Sales Culture

Get everyone in your company in the selling mindset. Learn how retailers are using training, collaboration and incentives to create an environment where sales can flourish.

In August, the independent channel will come together in Marco Island, Florida, for the Independent Home Improvement Conference and fun, sun, education and networking and social opportunities.

46 MARKET REPORT

Big Box, Big Risks

Don’t put risk assessment on the back burner. Dig into the risks from national chain annual reports and learn how you can approach risk management using a big-box playbook.

Staying up to date with training is one key to successfully selling in the builders hardware category. See other ways to find success in this department from a well-versed retailer.

What does it mean to do it best?

It means putting powerful tools to WORK FOR YOU.

Is your buying group more interested in selling products to you or helping you sell your products? At Do it Best, we’re committed to helping you sell to your customers. So rather than just selling you more inventory, we focus on helping you drive sales. Instead of offering a static digital database and warehouse space, we provide a robust ecommerce program and a world-class logistics and small parcel network. And of course, our industry-leading team of experts and proven retail programs are at your service.

Discover the difference a committed co-op partner makes. Call us at 888-DO-IT-BEST or visit doitbestonline.com.

“Well-trained employees need to understand that focusing on the customer means thinking about solutions, not transactions.”

Be That Trusted Adviser

LAST FALL, my wife and I started planning for our first overnight backpacking trip. We needed packs, so we headed to our favorite store for outdoor gear. As backpacking newbies, we quickly discovered we had a lot to learn.

Over the next hour and a half, a sales associate methodically explained what to look for in a pack, guided us through trying on different models and patiently answered lots (and lots) of questions. Since he had used the gear himself, he passed on first-hand experience about what to expect on the trail. I could just as easily have been talking to a long-time friend rather than someone I’d just met.

While we walked into the store with the intent of only looking around, we each walked out with an armload of camping gear.

You may have heard the term “trusted adviser” talked about in outside sales theory. At the risk of oversimplification, in a nutshell it describes the type of relationship a buyer has with a seller. At one end of the spectrum, you, the seller, are a vendor. Customer needs item A and you provide it. A simple transaction.

At the other end of the spectrum, you’re a trusted adviser. The customer has a need. They’re not sure what they’re looking for, but they know you have a solution. There’s a trusting, loyal relationship between customer and adviser. Earning that trust may not come overnight, but once it does, you have a lifelong customer.

Getting employees to understand the difference between being a vendor and an adviser is not necessarily an intuitive leap. You can teach product knowledge. You can teach basic sales techniques. But then they need to take the next step. Well-trained employees need to understand that focusing on the customer means thinking about solutions, not transactions. That may take some coaching, and they’re not going to learn sales in a vacuum. They need to be part of an entire business culture that’s focused on providing solutions, not just products.

This month, on Page 26, we address the idea of a culture of selling. It’s when everyone in your business is actively involved in creating sales and working toward the same goals. Employees in this culture should become trusted advisers, not product vendors. It’s exactly the kind of service we received while shopping for backpacks, and I hope it’s the kind of service your entire staff is giving every day.

Jesse Carleton Training Manager & Editor

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“Today, as growth is harder to come by and retailers need to maximize every customer engagement, training your employees on how to sell is more important than ever before.”

Revolutionizing Retail

WHILE IT SEEMS LIKE IT WAS JUST YESTERDAY, nearly two decades have passed since a young Dan Tratensek, with a head full of ideas and topped with wavy brown hair, set out to prove a long-held hypothesis here at the North American Hardware and Paint Association.

Together with a team of association researchers, we wanted to lend credence to the idea that even a minimal amount of training can have a big impact on a retail operation. For this experiment, we would focus on sales training.

The concept was that we would choose a certain number of retail stores. Our staff would visit half of the stores and provide their employees with about an hour of training on selling skills. We would cover the basic concepts like how to ask probing questions, how to engage in suggestive selling and the basic principles of add-on selling.

After we delivered the training, we would monitor subsequent sales in the control group versus the group where we delivered just a minimal amount of sales training. We were pleased to see that the results proved our hypothesis. Even with just a minimal amount of training in how to sell, employees were able to make a considerable impact on sales productivity with their newfound knowledge. This impact was immediate.

At the time it was also interesting to learn what almost seemed like a dirty little secret in most independent home improvement operations. The average employee receives little to no training on how to sell.

Sure, the average retail employee might learn systems, procedures and even some product knowledge, but the front-line individuals you count on to drive growth in your business likely haven’t received any training on selling the products you stock.

Today, as growth is harder to come by and retailers need to maximize every customer engagement, training your employees on how to sell is more important than ever before.

In this issue we talk about building a culture of selling, which is important for driving your operation forward. One big component of that is training your team on the “blocking and tackling” of how to sell.

As you read through this issue and hopefully get inspired about how to grow your operation with a new outlook on sales, use that inspiration as a catalyst to get your team prepared with the tools they need to sell more effectively day in and day out.

Dan

M. Tratensek Chief Operating Officer & Publisher

The Industry’s Benchmarking Tool

Don’t miss your chance to access industry resources to benchmark your business.

Buy your copy of the 2023 Cost of Doing Business Study at YourNHPA.org/codb.

Meet Dave

Before joining the North American Hardware and Paint Association (NHPA) over a decade ago, Dave owned and operated one of the largest Wendy’s restaurant chains in Indiana. His experiences as a small business operator inform his decisions and leadership strategies as chief financial officer and executive vice president of business services for NHPA.

One key deliverable of his role today is leading the development of the annual Cost of Doing Business Study, a comprehensive benchmarking tool the association has been publishing for over 100 years.

EXPERT INSIGHTS

Time for a Wake-up Call

Throughout this month, you’ll see real-life ideas that address the culture of selling in the home improvement industry. But, what about those considering selling their business?

Whether it is now or in the future, every business that doesn’t fail will change hands no matter what. What will be the value of the business when it does?

You obviously want the value to be as high as possible, but in my conversations with hundreds of retailers, most have no idea what their business is worth, with most overvaluing themselves.

I know, I know, this store is your baby and you built it into what it is today, but the fact is that outside of you and your family, nobody cares.

Nobody cares that you swept the floors as a toddler for your grandparents or that you stocked shelves as a teenager for your parents. Nobody cares that you didn’t want anything to do with home improvement throughout your adolescence, but something drew you back to town to take over as a fourth-generation retailer.

“You need to value the business based on performance and not on emotion.”

Above all, nobody cares what you need monetarily to live on once you sell the business. It’s not a slap in the face to all the great retailers in our industry and the incredible stories of perseverance for generations. It’s a subtle wake-up call that when you sell your business, it’s a business transaction, plain and simple. You need to value the business based on performance and not on emotion because the reality is that the buyer will only be looking at performance.

We partner with the people at Creative Planning through the North American Hardware and Paint Association (NHPA) Retail Marketplace to provide discounted valuations and an opportunity to sell your business through the NHPA website. They can help you clean up your balance sheet and income statement using the Cost of Doing Business Study as a measuring stick and identify “add-back” expenses the company pays for the benefit of the owner. Doing these basic things will help you maximize the value of the business and arm you with the knowledge of what your business is truly worth.

Visit YourNHPA.org/marketplace for more information about selling your business including valuations, business loans and retailer listings.

Dave Gowan Chief Financial Officer and Executive Vice President, Business Services North American Hardware and Paint Association

RETAIL

OPERATIONS

OPERATIONS

Spot the Shoplifter

Training your team to know the signs of shoplifting is a key component of loss prevention. Head to YourNHPA.org/trainers-toolbox to download the Featured Resource worksheet for ways to recognize shoplifting.

Meet Jim

Jim Close is a loss prevention professional with 24 years of experience working with independent home improvement retailers. Prior to working in loss prevention, Jim was an investigator with a major metropolitan law enforcement agency. He also teaches loss prevention in NHPA’s Retail Management Certification Program, and he helped develop NHPA’s Loss Prevention online training program.

The ORC Solution Is in the Details

If you are in the retail business, then you do not need me to tell you shoplifting is on the rise. You are most likely feeling the financial pain it causes. As discussed in my previous column, shoplifting is now outpacing internal theft as the primary driver of shrink. Retailers reported $112 billion in losses in 2023, and 37% of that was due to shoplifting.

Compounding the issue is the fact that the number of shoplifters who are engaged in organized retail crime (ORC) has risen sharply in the past three years. According to the National Retail Federation, ORC is the large-scale theft of retail merchandise with the intent to resell the items for financial gain. For years, this type of shoplifter has focused their attention on big-box retailers, but we now see this type of activity in the convenience hardware space. Unlike the big-box retailers that have loss prevention teams that deal only with ORC, individual hardware store owners most of the time are not equipped to deal with this type of shoplifter.

This type of thief is not deterred by good or aggressive customer service. They have a goal in mind and will accomplish that goal regardless of your deterrent techniques. Some are so brazen that they will load up carts of merchandise and will walk out the front door. Their intention is to build up as much inventory as possible to sell on platforms such as Facebook Marketplace and eBay.

If this type of shoplifter is not deterred by prevention techniques, then what are your options? When deterrence fails, your efforts should shift to documenting the incident in as much detail as possible, including filing police reports for every theft. This step is particularly important in ORC cases. What many business owners are unaware of is that law enforcement has access to a national database of police reports and can search keywords looking for matches. I was involved in two recent cases where local police departments were able to identify and arrest members of ORC rings because of details provided in the police reports. For example, in one case, the detective searched for DeWalt, white Honda and green coat. The search returned links to 10 police reports each with different degrees of information about the thief. The details provided were enough to clearly identify those involved, and led to an arrest of the perpetrator who was responsible for stealing $8,000 worth of merchandise from several hardware retailers.

With shoplifting on the rise, don’t turn away from the time-tested, effective deterrent of customer service to thwart shoplifters. When those efforts fail, use the power of documenting the loss and involving law enforcement every single time.

RETAIL INNOVATION

Browse NHPA’s technology resources for best practices, insights, guides and more at YourNHPA.org/tools-and-guides/technology

Meet Adam

Adam Gunnett started with Busy Beaver Building Centers in 2015 as an IT specialist, eventually serving as director of IT and then director of IT & marketing, where he skillfully merged the technical aspects of IT with the creative demands of marketing. Most recently, Adam was promoted to director of IT & business intelligence. In this role, he integrates IT solutions with business intelligence strategies, aiming to optimize operational efficiency and market impact. Adam has been pivotal in fostering a technology-driven environment at Busy Beaver. His approach ensures the staff at Busy Beaver are equipped with cutting-edge tools, enabling them to focus on delivering legendary customer service and reducing time spent on manual, repetitive tasks. This evolution in Adam’s career highlights his adaptability, technical prowess and visionary leadership in the ever-evolving landscape of IT and business intelligence.

CONNECT

Email agunnett@busybeaver.com

LinkedIn Adam Gunnett

RETAILER INSIGHTS

Opening Lines of Communication

In the bustling arena of retail, communication is a cornerstone for success. At Busy Beaver, while we’re embracing sophisticated technologies like electronic shelf labels (ESLs) and autonomous robots, we’ve realized that true innovation often lies in refining existing processes, particularly in communication.

Traditionally, email has been a mainstay in corporate communication but has shown limitations in the fast-paced retail environment. The formal structure and propensity of emails to accumulate hinder the responsiveness required in retail. Such delays in communication can lead to missed opportunities and inefficiencies, impacting operational success and customer satisfaction.

To tackle these challenges, we have turned to Zipline, a communication tool tailor-made for the retail sector. The tool’s waterfalling communication model allows managers to assign tasks and relay updates seamlessly, ensuring clear and consistent communication across the team, thereby boosting productivity. In tandem with Zipline, text messaging has become an integral part of our communication strategy. Its directness and conciseness are perfectly suited for the retail setting, where conveying time-sensitive information swiftly is essential.

This transformation in retail communication is reminiscent of the shift in media consumption from physical media to streaming services. For over a decade, the complete DVD collection of “Friends” sat largely unnoticed in my brother’s living room. However, in 2015, when “Friends” became available on Netflix, the series experienced a resurgence in popularity. My niece, who had previously shown little interest in my brother’s DVDs, became thoroughly obsessed with the show, binge-watching it multiple times on the streaming platform.

The contrast between the two mediums is striking. Watching a DVD involves a tangible effort: selecting a disc, placing it in a player and navigating the episodes. On the other hand, streaming services like Netflix offer a level of convenience and immediacy that has transformed how we interact with media. With just a few clicks, entire seasons of a show are instantly accessible, making it easier for new audiences to discover and engage with content.

This story exemplifies the impact of choosing the right medium for communication. Just like streaming has rekindled interest in older TV shows and movies, adopting platforms like Zipline and text messaging has rejuvenated how our employees interact with and process information.

The success of these solutions exemplifies how the medium of communication can significantly influence engagement and effectiveness. Zipline’s user-friendly approach ensures crucial updates are readily accessible, facilitating swift and informed decision-making among retail staff. Complementing Zipline, the use of text messaging for urgent communication leverages a familiar medium, ensuring effective dissemination of information. Innovative communication tools are redefining the standards of collaboration in the retail sector.

Adam Gunnett Director of IT and Business Intelligence Busy Beaver Building Centers Inc.

Marketing That Works

Discover marketing insights and resources to get the word out about your operation at YourNHPA.org/marketing-guides

Meet Austin

With an authentic and contagious enthusiasm and unrivaled data knowledge, Austin Diehl leads the team at Randy’s Do it Best Hardware as their director of retail operations. He was promoted to this position after serving as a store manager for nearly three years. Though the operation experienced a major store fire in 2022, Austin found ways to keep employees staffed at other stores, led the rebuild of the store in a new location and implemented efficient ways to operate the store.

RETAILER INSIGHTS

Market Yourself First

In the world of retail marketing, it’s easy to fall into the trap of barraging our customers with emails, social media posts and paid advertisements talking about our latest product or sale. You have probably heard the phrase, “Be the loudest in your community.” If you have not heard of it, no, it’s not going outside and screaming at the top of your lungs to buy your stuff. Loudness refers more to the frequency with which consumers have your marketing put in front of them. If you have given a major retail chain your email, you know exactly what I’m talking about. Three emails, two text messages, a location-triggered app notification and a message delivered by carrier pigeon is just too much contact for one day.

Consumers are becoming desensitized to this type of blast ad marketing and are more likely to delete or scroll past your content than to read it. I am not saying we should abandon marketing our products and services, however, we must change how we approach marketing. Consumers have countless options of places to buy the products they are looking for, so it’s about standing out in the sea of choices. One way you can stand out is by communicating your brand to potential customers through your marketing campaigns.

People are buying brands, not products. They want to know your mission, vision, values and what you stand for. This is especially true in the younger generations that will be aging into our industry very soon. They want to connect with your employees. They want to know what is going on in your business and are interested in events you are participating in. Every business has a story, and the sooner you put your story out there, the sooner you will start to build a brand following.

This does not have to become a production, and you are not scripting a show. Just shift some of your focus to creating content that is people-focused rather than product-focused. You can even get your team involved. Not only will you benefit from more creative input, but your team will become more engaged in the business.

We have just recently created a Google Sheets sign-up for employees who want to be featured in our marketing. Even if they do not want to be featured, they can also make suggestions of material they think might do well. When executed correctly, you should have a balance of product and service-related content and brand-building content that is woven together. This will increase the visibility of each piece of content you create.

EDUCATION

Premier Leadership

Grow as a leader through NHPA’s Retail Management Certification Program. Apply by June 1 at YourNHPA.org/rmcp

How can I keep my team motivated this spring when it gets so busy?

Whenever I think of the busy spring season, I think about how much time we prepare for it, but it never truly feels like enough time. I used to joke that after Memorial Day we only have 364 days left to plan for the next Memorial Day.

Physically it feels like you decided to start working out again and literally every muscle in your body is sore. By the end of May we are picking up steam, and by July we are wondering where the time went. With so much to do during that time, it can be very hard to keep up team motivation.

My advice is to be open and honest during those busy times. Share the victories and talk through the hard days. I remember so many Saturdays when I was mentally and physically exhausted, but I took the time to high-five every team member and thank them for their incredibly hard work that day. Acknowledging the tough moments along the way can help humanize the experience and draw the team closer. If I mess up, I share it with the team and what I learned from it. By doing so, I hope they will feel free to do the same. Don’t forget to celebrate your victories along the way as well.

When motivating the team, set some goals you can achieve together. I love to set challenges to keep

ourselves motivated, whether that be for net sales, average ticket, customer count or number of items sold. On one of my favorite spring Saturdays, I challenged my team to break a sales record—everyone gave it everything they had, and we reached the goal!

The next day we challenged ourselves again, and this time we put that “record” number to beat behind a picture frame that said, “Break glass when you reach this goal.” We all celebrated as we cracked that hammer into the glass that same day.

Lastly, make sure to spend time with your team one on one to ensure they are doing OK. Ask them what will motivate them on the hard days, what tools can be of support to them and how you can be there for them. Don’t be afraid to share what motivates you too, as we are all in this together. Hang in there and enjoy every moment of spring—it will be gone before we know it.

Now, let’s go out and make a difference in someone’s day today!

Kim Peffley Director of Organizational Development & Consulting North American Hardware and Paint Association

Kim Peffley is the director of organizational development and consulting with the North American Hardware and Paint Association (NHPA). With 30 years of retail experience, her management and leadership knowledge enables her to offer professional training covering many aspects related to effectively leading a team in a home improvement retailing environment. Peffley leads retailers through comprehensive organizational change to improve internal communications and create stronger teams.

—East coast store owner with two stores

Bytes and Bolts: Building Your Cloud

Allowing You to Build a Better Experience for You and Your Customers

he role of technology in running a business is critical. In today’s market, where customer data is crucial to personalizing customer experiences, independent retailers require a reliable partner to help them compete with big-box retailers. For hardware retailers, it’s a complex and highly demanding new world. Data breaches can cause significant financial and reputational damage if organizations fail to safeguard customer data. The proliferation of technology has forced retailers to seek solutions that integrate seamlessly. Add labor shortages to the mix and business owners face an even more complex challenge.

With disruptions increasing the need for business continuity in retail, cloud technology is becoming a significant driver of change. Rapid acceleration of cloud business solution adoption is happening across retail; 46% of retailers have now shifted to cloud for all or most of their business processes, while 24% are using a balance of cloud and on-premises solutions.

Hardware retailers can cut costs drastically and free up staff because you no longer must purchase, update and maintain servers, software and networking equipment. And you don’t need to worry about power requirements, storage capacity and computer hardware.

Cloud computing gives retailers of any size the ability to increase capacity and apply new capabilities quickly and affordably. It improves flexibility and control, too. You decide who has access to which data and applications and how data is shared throughout your organization. Process streamlining and task automation free up staff to work on higher-value tasks. Cloud solutions harmonize data from core operations in-store

and online, and across multiple locations, into consolidated views. Advanced analytics through artificial intelligence and machine learning sharpen decision-making in core operations, including inventory, supply chain, pricing, orders, margin management and sales forecasting.

From adding users to increasing bandwidth or boosting storage capacity, cloud capabilities help retailers stay ahead of the game. In the fast-changing retail world, cloud helps you adapt. As the most experienced retail software provider, Epicor Software Corporation is a dedicated partner that provides businesses the capabilities they need to focus on creating the customer connections that set independent retailers apart. Epicor retail management solutions go beyond helping businesses get the job done—it helps accelerate retail growth and profitability with future-ready technology that helps brands expand their reach while also protecting their business from disruption.

Scan the QR Code to take advantage Epicor’s services today!

For more information, contact retail@epicor.com

OPERATIONS

Making Retention a Sticking Point

As you onboard new staff during the busy season, make a plan to keep them. Download the NHPA Employee Retention Starter Kit to help at YourNHPA.org/retention

TRENDS

GAUGING

EMPLOYEE ENGAGEMENT

IN THE MOST RECENT Gallup employee engagement survey, respondents reported a decline in access to training, less connection to their organization’s mission and infrequent praise in the workplace. Since 2020, the number of workers who say they know what’s

*highest level since 2007

expected of them has dropped by 10 points. Review data highlights below and get some action items with tools and programs from the North American Hardware and Paint Association to learn how you can take action to avoid disengaged employees and burnout.

“This last year, I have had opportunities at work to learn and grow.”

As of February 2024, this metric has reached its lowest point since January 2011, with only 31% of respondents reporting they strongly agree.

Take Action

Reach out to NHPA Member Services at nhpa@YourNHPA.org or 800-772-4424 to determine your membership status and take advantage of more than 240 online training modules to set your team up for success.

“The mission or purpose of my company makes me feel my job is important.”

This metric is the lowest it’s ever been since the survey started in 2007. Explaining to your team how their role supports the company’s mission is critical to retention.

Take Action

Explore NHPA’s development programs to help you establish your mission statement, core values and a strong company culture. Visit YourNHPA.org/ development to learn more.

“In the last seven days, I have received recognition or praise for doing good work.”

After reaching historic highs in early 2020, respondents reporting recognition for a job well done within the previous seven days is at an all-time low after a brief uptick last year.

Take Action

Make a plan to recognize the efforts of your team on a regular basis. For guidance on how to make your feedback authentic, review the Words of Affirmation guide at YourNHPA.org/affirmation

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 why you love it.

Gourmet Brownie

The Kitchen Sink brownie is a blonde brownie mixed with rainbow sprinkles topped with M&Ms® and mini chocolate chips and baked on top of a fudge brownie. All Killer Brownies are made with clean ingredients like hormone-free butter, natural flavors, unbleached flour and sustainably sourced cocoa.

KILLER BROWNIE | killerbrownie.com

Angle Grinder

The M18 FUEL™ 4½-inch/5-inch Dual-Trigger Braking Grinder provides greater control through dual trigger activation, permanent side handle and AutoStop™ kickback control. The braking grinder’s dual-trigger activation requires two hands for operation and the permanent side handle allows for 15 positions, improving control and accessibility.

MILWAUKEE TOOL | milwaukeetool.com

Ladder Accessory Holder

The Monkey KLAMP is the only patented universal ladder accessory that makes ladder jobs safer, faster and easier by allowing users to maintain three points of contact. With the Monkey KLAMP, the user can complete tasks without having to balance unsafely or go up and down the ladder to grab their tools.

MONKEY RUNG PRODUCTS | monkeyrung.com

Hemp Wood Wax

Clapham’s Hemp Wood Wax is a food-safe wood finish that uses hemp oil instead of mineral oil, resulting in a petroleum-free wood finish product that brings out the colors and unique features of the wood it’s applied to. It is suitable for salad bowls and butcher blocks and can be used as a cutting board wax, on wooden spoons and as a food-safe countertop finish. Because of its natural processing and food-safe ingredients, it is also the perfect furniture finish for children’s wooden toys and cribs.

CLAPHAM’S | claphams.com

Door Security System

The Masonite Performance Door System with M-Protect Multipoint Security Lock is an innovative exterior door system that offers homeowners superior protection with four times more impact resistance than standard deadbolt locks as confirmed by certified third-party testing. The door system fits a variety of handlesets and is compatible with electronic deadbolts.

MASONITE | masonite.com

“These knives are high quality at a good price point. They offer many different types of blades for any type of situation ranging from meat cleaving to fish cleaning.”

—Jay Simpson, True Value of Rock Hill

Utility Knife

The TRUEBLADE is a lightweight, everyday carry knife with a 2 ¾-inch partially serrated, black oxidized, 420-grade stainless steel blade. The handle is crafted from a stainless steel frame with anodized aluminum scales to keep its design lightweight and minimal. This knife features a pocket clip, making it the perfect job site companion.

TRUE TOOLS & BLADES

true.acgbrands.com

Toilet Flange Repair Ring

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Hardware Retailing_Ratchet Straps.pdf

1 3/26/24 3:10 PM

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Hardware Retailing_TD 4 Packs.pdf 1 3/26/24 3:11 PM

Tape Measure

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Door Drying Rack

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TRAINING

Start With the Basics

Give your employees an understanding of retail sales fundamentals with NHPA’s Basic Training in Selling Skills course. Learn more at YourNHPA.org/membership OPERATIONS

Getting Everyone to Sell

Address Your Culture to Drive Higher Profits

BY JESSE CARLETON

If you think of sales as the engine that drives your business, then every employee is a moving part in that engine. But they’re not merely “cogs in a wheel,” because if anyone fails to do their part, the entire apparatus will stall.

In fact, employees with a cog-in-a-wheel mentality—the feeling that what they do on a day-to-day basis doesn’t matter—can actually do a lot of damage. Disengaged employees may deliver poor customer service, which kills sales. Your business will flourish when you build a culture where staff takes ownership of their roles and understands the importance of their contributions.

A culture of selling is one where everyone in the business, from leadership to front-line associates, all actively work together to meet the same goals of customer satisfaction and sales growth.

If that sounds like a slice of retail utopia, it’s not as out of reach as you might think. Hardware Retailing spoke with three retailers who are engaging their teams in achieving sales goals. Their insights offer practical steps for creating a culture of selling where all employees are customer focused, collaborating and contributing to the overall growth and success of the business.

Establish Clear Goals Using KPIs

One basic component to establishing a culture of selling is to understand what you want to achieve and why. Identify the big-picture challenges your company faces and then create specific goals to solve them.

At Bill’s Ace Hardware in Arlington, Virginia, Sean and Allison Ploskina utilized organizational development services from the North American Hardware and Paint Association (NHPA) to address training.

Kim Peffley, NHPA director of organizational development and consulting, helped them address challenges they identified when they took over the business in 2021. A period of prosperity during 2020 and 2021 had the unfortunate side effect of sidelining some of the customer service and training best practices that made the business successful in the past.

“We wanted to create an effective framework of communication and training between management and our staff so everyone had clear expectations and resources were available to meet those expectations,” Sean says.

Effective Sales Tools

Regular training equips employees at Bill’s Ace Hardware with the confidence they need to sell.

To

business.

The Ploskinas say it’s important to have clear and achievable goals where each individual understands their contribution. Using metrics from key performance indicators (KPIs), they created weekly scorecards with performance goals, such as average ticket growth, reward scan rate, shrinkage and team training completion rates.

All employees see some version of the card. Front-line sales associates see a scorecard with average ticket size and scan rates of customer loyalty cards, as the Ploskinas have used these numbers to create employee incentive programs. Managers see a more complete version of the scorecard, as they have the biggest responsibility in meeting those goals. The Ploskinas check on progress during regular calls with their general manager.

With clear goals in mind, measuring success is easy; either you hit the goal or you didn’t. However, everyone needs to know how they can influence the outcome. The Ploskinas say it’s especially important for store managers to understand their level of accountability.

“Coaching is directly tied to sales,” Sean says. “The more coaching the staff received from our general manager, the better sales were. Once he understood that he can directly influence these KPIs through his interaction with staff, customer count and overall sales went up. Thanks to a consistent dialogue and accountability with our management team to focus on specific KPIs, we are seeing great results in the revenue for further investment back into the business.”

Create Goals for Employee Behavior

At Hill Country Paints, with locations in Waco, College Station and three in Houston, Texas, employee development manager Steven Hill faces the challenge of growing sales and attracting new customer segments amid heavy competition. A culture of selling will play a large role in moving the business forward, he says, as it will foster engagement, positive attitudes and a sense of shared responsibility. Engaged employees will build loyal customers, which build

“Coaching is directly tied to sales. The more coaching the staff received from our general manager, the better sales were.”

—Sean Ploskina, Bill’s Ace Hardware

sales through repeat business and differentiates Hill Country Paints from neighboring big boxes.

“Engaged and satisfied employees are more likely to perform well,” Hill says. “I measure engagement through employee surveys and track employee development through indicators such as training performance and certifications they’ve achieved.”

The survey includes questions such as, “What are your short-term and long-term goals as an employee of a retail paint store? List at least one goal for each category and explain how you plan to achieve them,” and “What are the resources or support that you need to improve or develop in your job? List at least three resources or support that you think would help you achieve your goals and explain how they would benefit you.”

Knowing an employee’s goals and training needs helps build their engagement, which in turn builds a positive culture.

“Any training we do must address culture. Culture has to be second nature to everyone in the company,” Hill says. “Our staff needs to have a positive attitude and sense of belonging with the company as a whole and with their co-workers.”

Continued on Page 32

increase employee engagement, Steven Hill (left) prioritizes training in every aspect of the

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OPERATIONS

Increase Transaction Size

Find more ways employees can help boost your average ticket size at hardwareretailing.com/employees-transaction-size.

Energize Sales:

6 Ways to Involve Employees

Incentives provide a learning opportunity and build excitement and engagement for staff. Use them to encourage the behaviors you want your employees doing to drive customers back into the store. Here are some practical solutions for encouraging employees to improve their selling skills.

Loyalty Program Scan Rates

To boost participation in their loyalty club last year, the Ploskinas from Bill’s Ace Hardware offered rewards to employees who met monthly loyalty goals and gained more than 2,000 new members. They coach staff how to promote the value of the program and tactfully ask customers to sign up.

5-Star Reviews

Many customers turn to social media before visiting a business. In the store, the Ploskinas post QR codes linking to the store’s Google review page, and employees ask customers to offer reviews. If a customer calls out an employee in a positive review, the Ploskinas give that employee $20 cash.

Add-on Sales Contest

To drive up average transaction size, the Ploskinas issued an impulse item challenge. Each employee chose an item to display around the sales counter. The employee who chose the highest-selling product received a cash incentive. Sean says the challenge drives average ticket growth and encourages staff to learn more about the products in the store.

Featured Products Challenge

When the Ploskinas were trying to close out a line of grills, they offered employees a $100 bonus to everyone who sold one. The investment in an incentive is worth the inventory space and cash it will free up. And major sales offer an opportunity for employees to practice add-on selling.

Social Media Promotions

When Sherfick opened H&H Hometown Hardware in late 2023, he profiled each employee on the company’s social media platforms. Then he had each employee select an item to promote on social media. Initial posts received a lot of attention, even without paying to boost the content. Sherfick now uses a curated selection of items and scripts for a streamlined approach.

Nonprofit Donations

Sherfick asks employees to choose a local nonprofit organization and during a promotional period, proceeds from the store’s sales will go to that nonprofit. Knowing where some of the proceeds are going gives staff an extra incentive to sell.

OPERATIONS

Culture of Selling Basics

Kim Peffley explains the essential points of getting everyone involved in the sales process at hardwareretailing.com/about-selling-culture

Continued from Page 28

Develop Consistent Training

Consistent and regular training is another key component of a culture of selling. A well-rounded approach will include customer service skills and product knowledge. Additionally, managers must understand how to coach and lead.

At Bill’s Ace Hardware, the Ploskinas used formalized training from their wholesaler and NHPA alongside coaching and incentives.

“To reach our sales goals, we prioritize training toward an identified area of opportunity for our team each month, such as product knowledge, customer service or continuous improvement in technology platforms,” Allison says. “We provide clear objectives and offer incentives for those who meet or exceed the goals for improvement.”

As with any team, some people need more time to learn, which provides opportunities for coaching.

“We identify areas for coaching early in an employee’s training, using that time to show that the selling behaviors that drive results are within their control and rooted in the coursework they’ve already taken,” Allison says.

Teach Solution-Based Sales

When teaching selling skills, be prepared to challenge preconceived notions employees may have about selling.

“When I first got into sales, I hated being called a salesman because there’s some stigma that comes along with that,” says Grant Sherfick, owner of H&H Hometown Hardware in Shoals, Indiana. “But the more experience I got, the more I learned it was all about attitude.”

Sherfick wants his staff to have the right attitude toward selling and realize that being a salesperson shouldn’t have negative connotations. Selling isn’t merely about creating a transaction; it’s about helping people solve a problem. Instilling that idea is key to employee development.

“We’re in the business to sell, but we also have an opportunity to help people,” he says. “Sales can be positive and rewarding.”

Sherfick begins employee training by emphasizing that sales is part of everyone’s job description, no matter their role in the business. He uses online training from his wholesaler and from NHPA to teach product knowledge and selling skills while supplementing it with real-life examples. If he’s helping a customer, Sherfick will bring another employee alongside to listen in and understand how to conduct the sale.

“We emphasize a solution-based approach to sales,” Sherfick says. “Listen to the customer, find out what problem they’re trying to solve and have a conversation with them. As you help them find a solution, you begin to open up opportunities for add-on sales.”

A solution-based approach to selling isn’t always intuitive, either, he says, so it may take some coaching, demonstration and trial-and-error for employees to become proficient.

Selling Solutions

is all about helping customers solve a problem.

Cultivate the Sales Mentality

To encourage a culture of selling at Hill Country Paints, Hill starts by teaching employees to ask good questions. While it sounds simple, employees often don’t ask questions beyond the standard greeting of “How may I help you,” or “What project are you working on today?”

Those opening questions should only be the beginning of the conversation with both retail and contractor customers.

“Don’t let a customer come and order a gallon of paint without asking if they have everything they need for their job,” Hill says. “These aren’t hard sales questions; you’re just taking an interest in what the customer is doing.”

Grant Sherfick teaches employees that good customer service

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OPERATIONS

Strengthen Your Sales Culture

NHPA’s Kim Peffley can offer customized advice on creating a culture of selling in your own operation. Learn more at YourNHPA.org/development

Hill demonstrates for employees how even if the customer adds a single brush to the sale, it makes a difference in the margin and overall profit. Like Sherfick, Hill says employees may need to be coached and have a firsthand look at the sales process before they fully understand it.

“For them to understand, sometimes it takes that lightbulb moment when they finally make the connection between the relationship they’re building with the customer and sales,” Hill says. “That’s the difference between hearing us talk about a culture of selling and actually seeing it in action.”

Even with all of the right training in place, sales can be difficult, Hill admits. He says it’s important to teach them to handle those difficulties and persevere.

“I give employees some advice my wife gave me, which was that to be successful in sales, you have to cultivate grit,” he says. “Customers will tell you ‘no’ a lot more than they’ll tell you ‘yes.’ Talent alone won’t bring success, you’ll need some grit. When you get a negative response, don’t take it personally. Use it as an opportunity to learn.”

Encourage Collaboration

If sustaining a culture of selling is a collective effort among all staff, then collaboration and communication are essential. Technology, as well as basic interpersonal skills, are tools managers can use.

The Ploskinas live four hours away from their store, making it especially important they are intentional with their communication. They use organization software Trello to provide news updates and tasks to every team member.

“As soon as one of our employees logs into their Trello account, the first thing they see are Bill’s Ace Hardware’s core values. Putting the customer first is at the top of the list,” Sean says. “Employees all know what’s important, and we look for any way we can reinforce that.”

Allison also holds one-on-one Zoom calls with each of their employees once a month. Conversations are meant to be casual and wide ranging, from talking about their personal life to specific challenges they may be having at the store.

“We’ve received some good signals in these calls about areas of the business where we need to give more focus or aspects we need to change,” she says. “We also make sure to thank the team for what they’re doing and reinforce that we’re helping them reach their full potential in their work.”

Get Employee Buy-in

Any effort to create a culture of selling, whether through communication or training, must be undergirded with collaboration. Hill wants every employee to be trained on every aspect of the business, which includes giving front-line employees a basic understanding of the operational side of the business. Even if they’re learning a skill they won’t use all of the time, they are getting a fuller picture of how the business works. That training helps them understand the “why” behind what they do.

“It doesn’t cost you anything to be nice to someone or give a compliment, but it has a huge impact on them.”

—Steven Hill, Hill Country Paints

“Once employees understand why we do what we do as an organization, when they buy into the value system, they are motivated and excited to work here,” Hill says. “That excitement translates into sales because when customers see happy, knowledgeable employees, that becomes the main differentiating factor between us and the competition.”

He says it’s also important to seek input from employees and let them know you value their opinions. Allowing employees to express opinions and be creative fosters the sense of collaboration and collective effort important to a culture of selling.

Especially among veteran employees, introducing a new idea or recommending training may be met with resistance. Hill asks them to approach the company’s directives with an open mind, and he promises to do the same with any ideas they might have.

“I’ll ask that if they don’t agree with what we’re asking, they try it first in earnest, and if it doesn’t work, we may change tactics,” he says. “We want employees to feel they’re empowered to do their jobs and have the freedom to give input. We want them to use their own expressions of creativity and personality to enrich the customer experiences, because this will help make everyone better.”

Thank Your Employees

Finally, if you want to create a positive culture where everyone is engaged and selling, thank them for their hard work. Simple gestures of appreciation will go a long way towards reinforcing good behavior. Meaningful gestures could be a verbal thank you, a handwritten note or providing lunch on a day that is busier than normal.

Hill urges his managers to understand that employees are their most important resource; they’re the ones often going home late or getting to the store early to get a job done. It’s important for managers to show their appreciation. Even veteran employees will appreciate a supportive word.

“It doesn’t cost you anything to be nice to someone or give a compliment, but it has a huge impact on them,” he says. “I’ve seen firsthand how the employee’s attitude and energy level changes with just a simple thank you and good job.”

Stine Home + Yard president Wendy Stine (center) honors her family’s legacy while looking toward the future.

Family First

SERVICE RUNS DEEP

Family Legacy Drives Top Guns

Honoree Wendy Stine

BY LINDSEY THOMPSON

While Wendy Stine jokes that she was born into this business, it isn’t far from the truth. As part of the third generation to lead Stine Home + Yard, Wendy has the home improvement industry in her blood. She has been working in the Stine stores since she was a teenager and currently serves as president of the company, which has 12 locations in Louisiana, one in Natchez, Mississippi, and a distribution center in Abbeville, Louisiana.

Wendy’s dedication to her family’s operation and its employees and customers is just one of the reasons why the North American Hardware and Paint Association (NHPA) named her one of its 2024 Top Guns Awards honorees.

OPERATIONS

Automated Efficiency

To improve efficiencies and allow employees more face time with customers, Stine Home + Yard rolled out autonomous robots in several of its stores. Learn more at hardwareretailing.com/stine-robots

For 18 years, the Top Guns Awards program has recognized innovative, passionate retailers who are leading their operations and the independent home improvement industry at large with strategic investments focused on preserving independence and growing the channel. This award recognizes individuals as representatives of their operations who, through the work of engaged, dedicated staff, are making marks in their local communities.

Now part of an exclusive group of independent retailers, Wendy says she is honored to be named a Top Guns honoree and looks forward to tapping into the experience and knowledge of the other honorees.

“I appreciate organizations like NHPA that are introducing companies like ours to the rest of the channel of independents,” Wendy says. “We’re not afraid to ask others what makes them successful and what they are doing that could help us improve. I encourage everyone to reach out to the honorees and learn what they’re doing that could improve your business as well.”

Continuing a Legacy

In 1946, Wendy’s grandfather J.W. Stine and his best friend J.C. Carlin returned to Sulphur, Louisiana, from World War II as decorated combat pilots and started Starlin Construction Co. The partners amicably parted ways six years later, and J.W. went into the lumber retail business, opening Stine Lumber. He welcomed his six sons into the business throughout the 1950s. Now, Wendy is one of seven cousins in the third generation who are currently involved in the business, carrying on J.W.’s legacy.

Her foray into the family business started early, and Wendy remembers being dropped off at the store on the weekends when it was closed to clean the offices, bathrooms and kitchen with her sister.

“Then we got ‘promoted’ to do inventory and count the nuts and bolts because nobody else wanted to do that,” Wendy says. “I worked my way through the store, working as a cashier, salesperson, store manager and then eventually joining our corporate office.”

Being able to carry on her grandfather’s dream of building a company that is respected by the community is what drives Wendy. She loves interacting with employees and customers, and champions a culture of safety, fun, innovation and support.

When thinking about those people in her life who have influenced her career and contributed to her successes, Wendy says her grandfather comes to mind first. He passed away in 2020 at the age of 102, and Wendy treasures having him as a mentor for many years. She is also grateful to have worked with her father and five uncles throughout her career.

“They each created their own sector within the business in which they excelled,” Wendy says. “I’ve been fortunate to be able to work alongside and learn from each of them.”

STINE HOME + YARD

Established in 1946

12 locations in Louisiana

1 location in Mississippi

“The best piece of professional advice I have been given is to stay humble and always remember there is no I in team.”

—Wendy Stine, Stine Home + Yard

Throughout her career, Wendy has seen a number of successes, but one of the highlights came when she was director of merchandising. A majority of the stores are located in southern Louisiana and often in the crosshairs of hurricanes. When storms hit the area during her time as director of merchandising, Wendy says she had to secure inventory as quickly as possible and get the products in the stores that customers needed. Sometimes that meant setting up a temporary store in the parking lot of a grocery store to sell generators and gas cans; other times it was creating a drive-through on the outside of a damaged store to continue getting products in customers’ hands.

“When Mother Nature visits us, we have chaos,” Wendy says. “But I like to be under pressure, and I work better under pressure, so those are always challenging and fun times for me.”

Wendy says she was also privileged to oversee another hurricane-related disaster in the U.S. Virgin Islands. Federal Emergency Management Agency (FEMA) contractors had trouble securing inventory for the renovations and asked Wendy and Stine Home + Yard to step in and help. Thanks to strong relationships with vendors, Wendy was able to obtain inventory stateside and shipped products to the contractors.

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INDUSTRY EVENTS Celebrate With Us

Meet the Top Guns Awards honorees at the Independent Home Improvement Conference. They will be recognized at a reception on Aug. 29, sponsored by the National Hardware Show. Learn more at ihiconference.org

“We set up mini stores there equipped with our point-of-sale system so the FEMA contractors could successfully manage their jobs. We relocated several Stine managers and team members to Miami and the islands to oversee day-to-day operations,” Wendy says. “It was fun and challenging all at the same time.”

Core Values Lived Out Loud

With a focus on competitive pricing, Wendy has helped Stine Home + Yard compete with the big-box stores. The operation’s relationships with vendors has led to increased buying power and a focus on carrying quality brands has gained customer loyalty with DIYers and contractors, Wendy says. The business also has an entire team dedicated to the professional contractor side with inside and outside sales members.

But Wendy says exceptional customer service is the cornerstone of success. Stine Home + Yard leadership has been reminding employees of the importance of offering great customer service and engaging customers. For the last few years, Wendy has been emphasizing customer service as an integral part of company culture.

“I think it all comes down to our people. It is what differentiates us from our competition,” she says. “We’re large enough to compete, but we’re small enough to care. We remind our associates they have to make a positive impact on our customers every single time.”

Safety is a Stine Home + Yard core value, which means it is a key element in the company culture. Wendy says in the past year, company leadership has started recognizing teams that have no Occupational Safety and Health Administration violations by treating them to a barbecue luncheon.

Wendy says they also want their employees to have fun. Through the Stine Bucks program, employees are awarded for activities like faithfully showing up to work each day and being recognized by a customer. They can then use the Stine Bucks to purchase different items.

Wendy also created Culture Club, where once a month, store managers report to the rest of the management team about the employee engagement activities taking place in their stores, such as ice cream sundae parties and snow cone days. One store even bought a foosball table for the break room and hosts foosball competitions. These monthly conference calls with all Stine managers help keep employee engagement top of mind for the leadership team. The meetings also provide helpful ideas managers can duplicate in their own stores.

“Our stores are fairly large, so we have associates who don’t know each other and may not work with each other even though they’re in the same building,” Wendy says.

“These activities are allowing employees to get to know one another and have fun together.”

Community is another Stine core value, and Wendy says she makes certain the company is making a positive impact whenever it can. Donations and volunteer time don’t just come from the corporate level; team members in each of the stores are also encouraged to participate.

To engage its employees in community endeavors, Stine created its “Helping Hands” volunteer organization, which reaches out to provide volunteer assistance to a variety of organizations like the Muscular Dystrophy Association, area food pantries and children’s programs. Wendy created a Stine’s Helping Hands newsletter that is delivered quarterly to employees and highlights what the program has been doing and the ways it has helped the community.

Personally, Wendy participates in several local events and serves on several boards.

“One group I am passionate about is the St. Jude Dream Home Giveaway,” she says. “It’s been a very rewarding experience to help raise money for children battling cancer.”

Innovating for the Future

With over 75 years of history behind it, Stine has avoided complacency and embraced innovation to stay relevant for customers. Wendy says innovation can be tricky and costly, but it has been a part of the company’s strategic plan for many years.

“We’re always looking at technology and how it can benefit us, and we’re not afraid to do our research,” Wendy says. “You can’t get stuck with what you have. I am consistently doing my research and seeing what’s available to help us grow.”

Stine recently upgraded its point-of-sale system and added autonomous robots to the stores to improve price tag accuracy, detect out-of-stock products and see gains in operational efficiencies and productivity. The company has a retail website for customers and is in the process of creating a website exclusively for contractors that will include pro pricing and templates for them to be able to quickly and easily shop.

Whether it is on the pro or retail side, having an online presence is crucial to compete against big-box and online retailers, Wendy says.

“We have to continually meet the shopping demands of our customers,” she says. “In today’s world, e-commerce is one of those demands. Whether you manage your own platform or partner with your distributor, it is extremely important to provide an easily accessible online experience for customers.”

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Sun and sand meet education and networking at the 2024 Independent Home Improvement Conference (IHI Conference). This groundbreaking event brings together the esteemed legacies of the North American Hardware and Paint Association (NHPA) and The Hardware Conference.

Business Pleasure

Don’t Miss the 2024 Independent Home Improvement Conference

Taking place Aug. 27-29 at the exquisite JW Marriott Marco Island Beach Resort, this must-attend event will feature unparalleled networking opportunities, prestigious award ceremonies and cutting-edge educational sessions based around the conference theme of Retail Operations and Innovation (ROI).

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INDUSTRY EVENTS

INDUSTRY EVENTS

Book Your Trip Now and Save

Registration for the 2024 Independent Home Improvement Conference is open!

Save on early bird tickets and hotel rooms by registering today at ihiconference.org

On Track for Helpful Takeaways

During the IHI Conference, attendees can participate in morning breakout sessions, featuring four education tracks, and gain best practices and practical knowledge they can take back to their operations. The tracks include technology; marketing, merchandising and advertising; retail operations; and employee engagement. On the main stage each afternoon, keynote speakers and retailer panels will share insights on change leadership, creating growth, customer service, employee retention and more.

Read the Q&A with Al on the next page and tune into the June and July issues of Hardware Retailing to hear from Arthur and Daniel.

BUSINESS

Meet the Keynote Speakers

PLEASURE

Al Comeaux

Change agent and former executive at Travelocity, GE and American Airlines

From cutting his teeth as a high schooler working at an independent hardware store to leading Fortune 500 companies as a senior executive, Al Comeaux draws on decades of experience researching, leading and championing organizational change from the inside out. Today, Al helps leaders steer their organizations successfully through change.

Arthur Greeno

Chick-fil-A owner/operator in Tulsa, Oklahoma, author and Guinness World Record holder

Despite facing numerous challenges as a child, Arthur Greeno has found success as an entrepreneur and philanthropist in Tulsa, Oklahoma, with 36 years of experience. At just 22 years old, Arthur owned and operated two Chick-fil-A restaurants. As a result of his investments in company culture and his dedication to his team, his restaurants have an average staff tenure of six years.

Daniel “Rudy” Ruettiger

Former University of Notre Dame football player and inspiration for the movie “Rudy”

As the son of an oil refinery worker and third of 14 children, Rudy rose from valleys of discouragement and despair to the pinnacles of success. It took years of fierce determination to overcome obstacles and criticisms, yet Rudy achieved his first dream—to attend the University of Notre Dame and play football for the Fighting Irish. Rudy’s life story is immortalized in the blockbuster film “Rudy”.

Sun, Sand and Strategy

Mastering Change: Cultivating Mindsets for Lasting Success

What’s in the Sauce? Customer Service Secrets from Chick-Fil-A

Unleash Your Inner Rudy: Embrace Resilience and Make Every Second Count

The IHI Conference is not just about business; in between conference events, attendees will be able to enjoy the beautiful beachfront property, pools, golf and all that Marco Island has to offer. Along with stunning accommodations, the JW Marriott Marco Island Resort offers fun activities, including parasailing, wave runner tours, dolphin watches, banana boat rides and Everglades excursions.

HORIZON HORIZON CHANGE ON THE

Meet Keynote and Change Leadership Expert Al Comeaux

Before he serves as keynote speaker at the Independent Home Improvement Conference, Al Comeaux shares with Hardware Retailing insights from his extensive experiences on why change leadership is important.

Hardware Retailing (HR): How did you become interested in change management and change leadership?

Al Comeaux (AC): During my time in corporate communications, I was involved in some change efforts, and I started wondering why I was failing at change. I came to understand that leaders are good at solving problems, but those problems don’t always involve people. We’re used to solving problems by ourselves, and we have to suddenly change our mindsets and remind ourselves that this is a problem I shouldn’t solve by myself.

HR: Why is it important to include others in change and problem-solving?

AC: Change and problem-solving see benefits when there is more than one idea present. When you involve your people and the change is not just your idea, but their idea too, it makes the change more likely to happen. When you involve others, it might not go exactly how we want, but it's more likely to happen and we are more likely to see the fruits of the change.

HR: One of your tenets is that organizations don’t change, people do. What do you mean by that and how can organizations embrace it?

AC: When it involves people, if our people don’t change, there is no change for the organization. We have to get people to want to change for there to be change. The way we’ve always done something is tried and true. And so when we tell our people that the way we’ve always done it is not the way we’re going to do it anymore, we’re upsetting the values they hold. As leaders, we need to be able to explain the why and the how of the change to bring our people on board to achieve our goals.

HR: The theme of the Independent Home Improvement Center is Retail Operations and Innovation (ROI). How does change leadership fit into this concept?

AC: I’ve seen so many great innovations never happen because the people leading those efforts didn’t go and ask people to modify their great ideas that they’re so excited about. We get so excited about our innovation but we can get stuck in wanting it exactly the way we want it. We have to open up to the fact that it might not work because we don’t know everything and be willing to bring people along to make that change possible.

DON'T MISS AL’S PRESENTATION | AUGUST 28 @ 12:45 P.M.

Mastering Change: Cultivating Mindsets for Lasting Success

If your past initiatives or new programs have failed to gain traction, you’re part of a common struggle. Shockingly, around two-thirds of change endeavors collapse annually, causing businesses staggering losses of $2 trillion. Why does this happen? Renowned speaker Al Comeaux pinpointed a critical factor: we often approach change with our default mindsets, failing to recognize the unique leadership mindset it demands. Without embracing change, businesses risk stagnation and irrelevance. In this keynote, Al draws from his extensive career, beginning at a hardware store and spanning leadership roles at Travelocity, GE, Sabre and American Airlines, to delve into the transformative mindset essential for navigating change successfully and propelling businesses forward.

AUGUST 27-29 | MARCO ISLAND, FL

Registration is now open for the 2024 Independent Home Improvement Conference (IHI), where the NHPA Independents Conference and The Hardware Conference will converge for an unforgettable experience at the JW Marriott Marco Island Beach Resort in Florida on August 27-29.

AT A GLANCE

3 Days of Education + Networking

3 Industry Awards

4 Breakout Education Tracks

Channel Partner Exhibits + Presentations

Beachfront Property + 3 Pools

Golf, Tennis, Excursions

And More!

Get the scoop on how the big boxes fared in 2023 and additional insight into their risk assessments in our annual report recap at hardwareretailing.com/reports

8 Themes of Big-Box Risks RESEARCH

WHY IT?

Approach Risk Mitigation

Like the Big Boxes Do

BY MELANIE MOUL

It’s annual report season, which means analysts and investors are poring over 10-Ks and other government filings to see who met expectations in 2023, who fell short and what’s to come in 2024.

As an independent home improvement operator, you may not need to report your financials to the Securities and Exchange Commission like your big-box competitors, but you should have a process in place to address financial performance, operational performance and operational risk.

Every publicly traded company in the U.S. is required to assess its potential risks and report them in its financial filings. In an analysis of the risks big boxes included in their 2023 annual reports, themes certainly emerged. To help you navigate a risk assessment in your operation and to break down some of the common big-box risks, Hardware Retailing spoke to Scott Reynolds, president and CEO of American Hardware & Lumber Insurance.

Each company organizes and categorizes risks a little differently, but these are some common themes that emerged from 2023 big-box annual reports.

Changing consumer needs [

Breaking Down Risk

At its core, Reynolds says risk mitigation is an evaluation of whether a business occurrence is insurable or non-insurable. What makes the difference is whether there is an accident or “incident of peril,” he says.

“Every business faces a whole host of risks, and those risks can hit the bottom line,” he says. “It may result in an injury to a customer or an employee, it could be a marketplace downturn or a competing store comes in.”

Some of the risks big boxes identify in their annual reports have many layers, and some of those layers are insurable while others are not.

For example, risk in the supply chain is very broad. Reynolds says if your distributor runs out of product and can’t deliver your order, that’s an uninsurable risk. But, if there is a fire at the distributor’s warehouse that prevents you from receiving your order, that’s potentially insurable.

“You may have a valid business interruption claim covered on your property policy because fires are covered peril, even if it didn’t happen to your store,” he says.

A Matter of Policy

One risk area Reynolds says has grown significantly in recent years is cybersecurity and technology. He says just 15 years ago, cybersecurity insurance coverage wasn’t common, but now every big-box company certainly has insurance coverage, internal staff and likely an external service provider to address cybersecurity incidents.

“Not too long ago, cybersecurity just wasn’t a concern,” he says. “Now it’s taken on a life of its own, and there’s specific insurance available for cyberthreats and cybersecurity.”

Reynolds says small business operators often overlook this coverage because they don’t think their operations are at risk. The truth is, threat actors have started targeting small- and medium-size businesses because they are less likely to have protective systems in place.

Another policy area that Reynolds says only about 10% of small business operators have is employment practices liability insurance. This type of coverage protects a business in the event of a lawsuit from a current or former employee.

“A store owner tends to rely on their workers’ compensation insurance or their general liability

“Every business faces a whole host of risks, and those risks can hit the bottom line.”

—Scott Reynolds, American Hardware & Lumber Insurance

insurance, but that coverage doesn’t apply if there isn’t an accident,” he says. “So if an employee broke their arm or was exposed to disease or something like that, yes, that would be covered. But if you wrongfully terminate someone, there was no accident, nobody’s hurt. If they file a claim and you don’t have the employment practices liabilities policy, you could be on the hook for attorneys’ fees and potentially damages.”

All Hands on Deck

The first step to mitigating risk in your operation is to involve all critical decision-makers in risk assessment. Reynolds says he recommends having several key people involved in the process: the business owner, the IT manager, the risk manager and an insurance agent.

Reynolds says he understands that many small business operators may not have those specific roles.

“Internally, in many cases for a small business, one person is going to have all those jobs,” Reynolds says. “In these cases, I recommend bringing in the store manager because two sets of eyes is better than one.”

Reynolds says if you have never performed a risk assessment for your business, you can ask your insurance agent for a template. Completing the risk assessment template will help you determine where you may need additional insurance coverage or make you aware of potential safety gaps.

Another tool you can use to get the entire team involved in risk assessment is to perform a SWOT—strengths, weaknesses, opportunities and threats—analysis. Reynolds says including additional team members in this exercise can be fruitful.

“I love SWOT analysis,” he says. “When you bring in a sales associate or anybody in your organization, it’s highly likely that you’re going to hear about things that you hadn’t even thought about. It’s good to bring them in.”

Scott Reynolds is the president and CEO of American Hardware & Lumber Insurance (AHLI). He is responsible for the overall operations of AHLI and Member Insurance Ltd. Reynolds brings over 35 years of insurance industry experience in numerous senior level roles. Prior to AHLI, Reynolds was the president of United National Group, a specialty insurance company that focuses exclusively on the program market.

CATEGORY SPOTLIGHT

RESOURCES

Achieve Successful Employee Training

Learn five ways to improve your training process to grow and develop employees and keep them engaged at hardwareretailing.com/training-tenets

KNOW HOW TO GROW

CONSTRUCT YOUR BUILDERS HARDWARE CATEGORY WITH KNOWLEDGEABLE EMPLOYEES

BY JACOB MUSSELMAN

When Dave Thompson purchased Main Street Ace Hardware from its former owner, Floyd Craft, he didn’t plan on making any changes to the Bowling Green, Ohio, store, which has been in its same location since 1987. But with every acquisition, change is inevitable, and for Thompson changes meant diving into building hardware and finding ways to educate his new employees on how to sell it and customers on why they should buy from him.

Thompson’s foray into building materials began at 18 years old when he started his own construction company straight out of high school.

“Initially, my goal was to become an architect,” Thompson says. “But after I graduated high school, I realized that field involved a lot of sitting and schooling. I loved the math and design aspect of architecture but I wasn’t good at sitting still, so I took a different avenue and became a contractor.”

store for 36 years.

As Thompson grew his construction business, he naturally got into real estate, going on to purchase multiple residential and commercial properties. It was through his involvement in commercial building ownership where he met Craft.

“Floyd was ready to sell, but his family didn’t want to take over the store from him,” Thompson says. “I purchased a building from him a few years ago and from that transaction, he recognized that he and I are very similar people and came to me with the proposal to buy his business.”

The deal was finalized in January 2023, with Thompson taking ownership of the store, and keeping all 11 of its employees, including longtime manager Carol Tolles.

One major change Thompson made when assuming the owner role was evolving his SKU selection to include additional building materials. The transition into building hardware and materials was prompted by a multitude of factors, from customers requests to having the prior knowledge to feel comfortable about breaking into this category. Thompson noticed a significant number of customers coming to the store for flooring, faucets and knobs and began restructuring his store based on his customer’s wants and needs.

Optimizing Builders Hardware

Follow these best practices to help sales grow in the quiet but powerful builders hardware category.

KEEP THE AREA CLEAN

Keeping this category well organized is crucial. Not only does a messy department make customers reluctant to shop at your store, it can also be a physical danger. Be sure items are front facing and fully-stocked and keep small parts organized in a way that customers can easily find what they need.

COUNT YOUR ACCOUNTS

If your business offers sales accounts to contractors and maintenance professionals, do a semiannual review of those accounts to be sure your professional base is growing. Analyze the types of industries you serve and scout for new opportunities in and around your community.

HIGHLIGHT FINISHED PROJECTS

Builders hardware supports larger pieces, so many of your customers may be proud of a DIY project they’re just about to finish. Encourage their creativity! Ask them to send finished photos of their projects. With their permission, you can post those photos to your company’s social media accounts to inspire other shoppers.

Dave Thompson bought Main Street Ace Hardware from Floyd Craft, who owned the

5 Stats That Prove the Value of Employee Training

Lorman Education Services, a provider of online training and continuing education for professionals, released “39 Statistics That Prove the Value of Employee Training,” which highlights why employees left previous positions for new opportunities with better ones. Here are five takeaways from the report.

59% of workers are willing to learn a new skill or re-train in order to remain employable.

74% of employees say a company would be more appealing if it offered additional skills training to its staff.

61%

Retention rates rise of employees claimed they had no workplace training and that most of their skills were self-taught.

76% of adults in the U.S. seek career development opportunities when considering job opportunities.

30-50% for companies with strong learning cultures.

Source: 39 Statistics That Prove the Value of Employee Training, Lorman Education Services

“We’ve moved to a point where we’re selling things I know how to install with my background in construction,” Thompson says. “We’ve been expanding our building hardware category from where it was under previous ownership and finding success there.”

With the change in product selection at his store, Thompson has been heavily involved with his employees, teaching them what they need to know about the new SKUs in their store, as he has a wealth of knowledge from his years as a contractor.

Having been in the business for over 28 years, Thompson understands that his employees won't learn everything they need to know about the building materials category overnight. But, he's dedicated to helping them grow and is focusing on the best ways to work with Tolles to educate employees.

Thompson says when he considers a new product, he’ll review with Tolles on how to install it and share anything else she may need to know when training their employees on it.

When an owner or manager is thinking about bringing in a new product in the building hardware category, Thompson recommends bringing in a few pieces at a time to give your employees time to spend with the new SKU.

“The biggest tip I’ve learned is understanding that everybody is different, and everybody has different levels of knowledge and desire,” Thompson says. “When we added building hardware, my team accepted it, even though it wasn’t an original part of the store they all were so knowledgeable about.”

Thompson has his employees utilize training offered through his co-op in addition to his in-store training.

Installation Initiative

Main Street Ace Hardware offers a variety of building hardware products and with all of them, Dave Thompson is able to offer installation in addition to the sale.

“If somebody wants to buy siding from us, they can purchase it from us directly and install it themselves, but we’ve started offering to install it for them for a fee,” Thompson says. “It’s a missed opportunity in many stores. I’ve been in small business all my life, and I know service is a huge deal. Offering installation has allowed us to be a full-service home center instead of being known for just selling nuts and bolts.”

INNOVATIVE PRODUCTS FOR YOUR EVERYDAY HOME PROJECTS

“The biggest aspect of being successful in educating employees in the building hardware category, and any category, is having the desire to be knowledgeable,” Thompson says. “You have to have the desire to want to learn and finding motivated employees to train can be a tough situation, and that goes for both older and younger generations.”

Thompson says the transitioning of his store stems from his desire to serve a contractor, or extreme DIYer, instead of a retail customer. The employee education Thompson has implemented has been key to reaching and satisfying this new customer segment.

“A lot of big-box stores have high turnover rates, and not all of their employees have the specific knowledge on building hardware,” Thompson says. “It’s always an option to go to one of those stores, but what makes us different is the product knowledge. Our customers want to support local businesses, and I’ve brought in materials they use on the job site.”

“The biggest aspect of being successful in educating employees in the building hardware category, and any category, is having the desire to be knowledgeable.”

—Dave Thompson, Main Street Ace Hardware

WHOLESALER CENTRAL

OPERATIONS

Celebrating 100 Years

Ace Hardware 2024 Fall Convention | August 8-10 | Chicago

Ace Hardware Unveils Loud Mouth Barbeque

ACE HARDWARE HAS announced the launch of Loud Mouth™ Barbeque, a revolutionary lineup of barbecue sauces and seasonings aimed at redefining the grilling experience. Because Ace has long been a destination for all things barbecue, it’s fitting the retailer has introduced its very own line of barbecue products developed specifically to ensure that every bite is unforgettable.

Crafted with quality ingredients and packed with bold flavors, each Loud Mouth Barbeque product in the lineup is carefully designed to leave a lasting impression on even the most discerning palates, says Brian Wiborg, senior vice president of merchandising.

“As we proudly launch Loud Mouth Barbeque, we’re not just introducing a new product—we’re igniting a flavor revolution in the world of barbecue,” Wiborg says. “We aim to be the barbecue destination in all the neighborhoods we serve, and our decision to develop Loud Mouth Barbeque was reinforced by the desire for bold, high-quality barbecue products at an affordable price point. We’re excited to provide our customers with a flavorful adventure they’ll want to embark on again and again.”

The full line-up of Loud Mouth Barbeque products includes two barbecue sauce flavors—Boom Shaka-Laka, an apple habanero, and Kaa-Blamo!, which is hot and spicy. The product line-up also offers five seasonings: That’s Poppin’, a savory blend; Mmmm Baby!, an all-purpose rub; Whoa There!, a smoky sweet bub; Uhh-Huh!, a hot n’ sweet rub; and Zowie!, a hot n’ spicy rub.

Ace priced these products affordably without compromising on quality. The barbecue sauces are $8.99 for a 19.4-ounce bottle and the rubs are $6.99 per container, which vary in size by flavor. This commitment to accessibility ensures that customers can enjoy the bold barbecue flavors without breaking the bank.

Ace Hardware is dedicated to helping customers find the perfect products for their grilling needs. Ace carries a lineup of top brands in the department: Big Green Egg, Weber, Traeger, Blackstone and many more to ensure there’s something to suit all grilling methods and preferences. Whether shopping in-store or online, customers can expect knowledgeable staff and fast, convenient shipping options.

INDUSTRY EVENTS

Prepare for the Market

Do it Best 2024 Fall Market | September 6-9 | Indianapolis

Harnessing Data for Success

A GUIDE FOR INDEPENDENT HOME IMPROVEMENT BUSINESS OWNERS

BY NICK TALARICO

Do

it

Best

Executive Vice President of Sales & Marketing

DATA INFORMS. It’s revolutionary. It provides valuable insights that can help independent home improvement business owners personalize the customer experience, increase efficiency and operations and optimize product assortments—ultimately boosting profitability. Data offers a pathway to success for businesses seeking growth and sustainability in an increasingly competitive environment. Here are some practical tips to harness your data for success.

Personalize the Customer Experience

E-commerce provides invaluable insights into customer search trends and participation data, which can help you personalize the customer experience online and in-store. A real-world example: Based on data collected from our e-commerce platform, we discovered that our customers were frequently searching for rental equipment. Using this information, we launched a brand new rental module that has boosted business for our members. Browsing patterns and past purchase histories can also help generate automated product recommendations, optimize inventory planning and marketing strategies—and much more.

Increase Efficiency and Operations

Implementing efficient operational processes is important to the success of any home improvement business, and one key component is having robust inventory tracking software. Using advanced analytics and algorithms from this software, you can enhance operations by strategically

Nick Talarico

Do it Best

selecting SKUs and facilitating purposeful cycle counting. This reduces the time and resources spent on inventory management, ultimately driving profitability and competitiveness. At Do it Best, we employ Tracula, a precision-focused system that maximizes efficiencies by identifying focus areas during inventory cycle counts.

Optimize Product Assortments

It’s no secret: Optimizing your product assortments is a game-changer when it comes to maximizing sales and profitability. But how do you get started? You can leverage analytics from your sales data, preferred vendors and other partners to better understand market-specific sales performance, inventory turnover rates and product trends and preferences. Armed with this information, you can optimize your product assortments, minimize excess inventory and unlock your sales potential.

Undoubtedly, data is a powerful tool for independent home improvement businesses to thrive in today’s competitive market. At Do it Best, we go beyond simply selling products; we help our members grow their businesses. We use co-op analytics plus data from thousands of members and our most strategic vendor partners to develop technology tools that give our members a competitive advantage. By embracing a data-driven approach, you too can enhance your operational performance and customer satisfaction and position your business for long-term sustainability and resilience in the face of evolving market dynamics.

WHOLESALER CENTRAL

Learn More About HDA

Explore Hardlines Distribution Alliance (HDA) offerings at hdaworks.com or contact HDA president Shari Kalbach at shari.kalbach@hdaworks.com or 720-875-2226.

INDUSTRY INSIGHTS

Getting to Know HDA

WHO IS HDA? In April 2022, Distribution America and PRO Group Inc. joined forces to become Hardlines Distribution Alliance (HDA). In the two years since its formation, HDA has harnessed the purchasing power of both groups and has tirelessly worked to streamline merchandising, accounting, marketing and advertising services to offer the most efficient programs to members and partners.

What is HDA’s mission?

Our mission is to continue to build the success of distributors, vendors and independent retailers so they can compete and thrive in today’s challenging marketplace.

Who is part of the HDA network?

HDA has over 60 distributor members, over 400 vendor partners and thousands of independent retailers in our network. Additionally, HDA boasts over $7 billion in purchasing strength, and our distributor members serve all 50 states, Canada, Central America, the Caribbean and Mexico.

How does HDA facilitate partnerships within its network?

HDA hosts two conferences per year: the Group Merchandising Conference (GMC) and the Executive Planning Conference (EPC). Considered by many to be some of the most interactive events in the industry, both the GMC and EPC guarantee one-on-one private meetings between distributor members and vendor partners. In addition, HDA hosts purchasing,

sales and merchandising meetings between member distributor personnel so challenges, best practices and solutions can be shared and implemented to help all entities thrive within the network and the hardlines industry as a whole.

How does HDA build programs with vendors?

Vendor partners work directly with the HDA merchandising team to match them with the right distributor members, build a program that fosters success within the network and helps them utilize advertising and promotional communications to reach multiple audiences. In addition, multiple networking events exist for vendor partners to forge business relationships including the GMC and EPC, distributor shows and digital vendor introductions and spotlights.

What are HDA’s goals for 2024 and beyond?

“HDA continues to make strides in delivering more value to distributor and manufacturer partners. In 2024, we will launch a new portal that provides efficient purchasing tools to all partners, allowing for more robust reporting and automated communications,” says HDA president Shari Kalbach. “As we look ahead to 2025 and beyond, we aim to enhance our pet, farm and ranch assortment to support our large network of distributor members who specialize in that sector. In addition, we will continue to improve existing CRM and promotional systems, allowing HDA to offer streamlined merchandising and advertising services to our network.”

The Retail Marketplace Can Help You

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 and 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

Hoosick True Value

Location: Hoosick Falls, NY

Gross Revenue: $1.26 million

Price: $1.875 million

This opportunity offers a turnkey sale of a general hardware business located in northeastern Rensselaer Co., New York. The business serves five towns and southwestern Bennington Co., Vermont, and 25 miles east of Troy, New York.

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 the Kansas City Metropolitan Area of Missouri. The Company is a long-standing retailer and installer of consumer and commercial improvement products.

BUSINESS FOR SALE

Albrights Hardware & Garden Center

Location: Allentown, PA

Gross Revenue: $1.9 million

Price: $800,000

Albrights Hardware is an established hardware store with strong neighborhood ties and has been a Lehigh Valley staple for over 50 years. The current owners have owned the store since 1992. Albrights serves its loyal customer base by providing quality products and exceptional customer service.

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.

BUSINESS FOR SALE

Private Business

Location: Alabama

Gross Revenue: $2.21 million

Price: $649,000

BUSINESS FOR SALE

Private Business

Location: Pennsylvania

Gross Revenue: $1.6 million

SEEKING BUSINESSES

The Aubuchon Company

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 ft 2

• At least $3 million in average store sales

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

SEEKING BUSINESSES

Gold Beach Lumber Yard

We are looking for:

• Single-store and multi-store hardware operations

• Located in the Pacific Northwest

• Store size of 5,000 ft2-30,000 ft2

INDUSTRY EVENTS

Bringing the Channel Together

See the upcoming industry events where you can engage in product discovery and network with fellow retailers at YourNHPA.org/cal

What You Need to Know in May

Visa, Mastercard Settlement Only a Temporary Fix Say Small Business Groups

Two credit card giants have settled a nearly 20-year dispute with merchants over credit card fees, agreeing to cap interchange rates through 2030. According to the Associated Press, the agreement allows small businesses to have similar bargaining power to large companies in regard to payment processing rates.

Home Depot to Acquire SRS Distribution

The world’s largest home improvement retailer, Home Depot, has entered into a definitive agreement to acquire SRS Distribution Inc., a residential specialty trade distribution company that serves the professional roofer, landscaper and pool contractor.

Nation’s Best to Capture Incremental Purchases With New Upside Partnership

This partnership brings Upside’s cash-back services to 46 Nation’s Best hardware stores across 15 U.S. states, aiming to attract new and occasional customers to Nation’s Best while expanding Upside’s platform beyond food and fuel categories and growing its foothold in Iowa.

DoorDash Announces Partnership With Lowe’s

Marking its first foray into the home improvement category, DoorDash will be partnering with Lowe’s to offer customers on-demand delivery from over 1,700 stores nationwide. Lowe’s products can now be purchased directly on the DoorDash app.

2024 NHS Sends Attendees Home With Practical Takeaways and Renewed Energy

Attendees of the 2024 National Hardware Show (NHS) left Las Vegas with an infusion of positive energy and business relationships. The North American Hardware and Paint Association spent three days at NHS, connecting with independent retailers and recognizing the best products on the show floor.

To read these news stories and other news, visit hardwareretailing.com/industry-news

The Future Is in Good Hands

OUTSTANDING RETAILERS

RECEIVE 2024 NHPA YOUNG RETAILER OF THE YEAR HONORS

The North American Hardware and Paint Association (NHPA) Young Retailer of the Year program, now in its 28th year, identifies and promotes the next generation of aspiring independent home improvement, paint and decorating retailers. It recognizes individual achievement by industry retailers age 35 and younger throughout the U.S. and Canada. Honorees are chosen based on a number of criteria, including professional milestones, community engagement, continuing hardware industry education and extracurricular activities.

Sponsors of the 2024 Young Retailer of the Year program include: American Hardware and Lumber Insurance (AHLI), Pony Jorgensen, Arrow Fastener, Intertape Polymer Group (IPG), Midwest Fastener, PPG and The Wooster Brush Company.

The 2024 Young Retailer of the Year honorees will be recognized on Aug. 28 in a ceremony at the 2024 Independent Home Improvement Conference in Marco Island, Florida. For more information on the Young Retailer of the Year awards program, honorees and more, visit YourNHPA.org/yroty

“The Young Retailer of the Year program highlights the bright future of the independent channel. It’s a privilege to recognize these outstanding young retailers who are making positive impacts in their operations and communities.”

—Scott Wright, NHPA Executive Director of Advanced Retail Education Programs

Pullman Building Supply

Jared Brown, Director of Business Intelligence, The Aubuchon Company

Joel Pletch, Store Manager, Walkerton Home Hardware

Jonathan Jasik, General Manager, Sarasota Paint

Isaac Weber, Owner and President, Lugbill Supply Center

Alexander Ziegenbein, Owner, Gretna Ace Hardware

Lee Heinrich, Owner, H&R Hardware and Lumber

Tyler Garrett, President, CEO and Co-Owner, Moscow &

LAST WORD

ASSOCIATION

The Future Is Bright

Meet the outstanding retailers NHPA is honoring through the Young Retailer of the Year program at YourNHPA.org/yroty

NHPA AMBASSADOR

FAMILY TRADITION

Robin Smith Has Not Stopped Learning Since She Took Over Her Family Business

Why did you agree to become an NHPA Ambassador? What have you enjoyed the most in your relationship with the association? It was an easy decision to become an NHPA Ambassador. I became more involved with the organization when I completed the NHPA Retail Management Certification Program. This opened my eyes to all the resources and connections that were available. Through NHPA, I have been able to gain friends from all over the country who I can lean on for advice. Also, I know I can make a phone call when I hit a problem and someone at NHPA has a solution or can help make a connection to get the help I need.

How do you stay involved in the community?

I am very involved in our community. I actively serve on the board of directors for not-for-profit, chamber of commerce and economic development organizations. We also are heavily involved in our schools and youth sports. Our community supports us, and we support them.

What is the best piece of professional advice you’ve ever been given?

Never stop growing or learning. Needs change for our customer base, so for us to continue to be a shopping destination for our county and surrounding counties, we have to be more than a small town hardware store. By being a part of the independent hardware channel, we have the opportunity to make our store what our community needs while keeping our small town values and hospitality.

What is your favorite part of your job?

I love this career for many reasons, so it is hard to narrow down to just one aspect. We are making a difference in our community. We are not just here to sell products; we are a resource for our county. I enjoy that no two days are the same. Not all days are fun, but the good ones make up for those moments.

NHPA AMBASSADOR About the Program

Smith

What do you do for fun when you’re not working?

With three elementary age daughters, my husband and I are very busy when we’re not at the store working. Our girls are into travel softball and basketball, so we enjoy practicing as a family and attending sporting events.

What is your proudest moment as part of the independent channel?

Our store has received numerous awards and designations that I am very proud of. My favorites have been being named a NHPA Young Retailer of the Year honoree in 2021 and being asked to serve on a retailer panel during the National Hardware Show.

The North American Hardware and Paint Association (NHPA) Ambassador Program brings together a small group of NHPA members from across the industry who are passionate about the independent home improvement channel and have a deep involvement with the association. NHPA Ambassadors help connect their retailer networks to NHPA, encouraging retailers to become more involved with the association’s offerings, like online training, consulting, college-level courses and more.

Robin

Owner Petersburg Do it Best Hardware Petersburg, Indiana

Join the Industry’s Premier Retail Management Program

NHPA’s Retail Management Certification Program is built for owners, managers and key employees in the independent home improvement industry, with a focus on training to grow store sales and profits.

Follow in the footsteps of more than 300 retailers who have graduated from the program. Students on average have earned more than 5X the return on tuition paid after implementing their student projects and putting what they have learned into practice!

Application Deadline: June 1, 2024

These companies have advocated for independent retailers by supporting the program.

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.

Fleet-Service Facts:

• Low flat-rate stop-charges

• Low minimum orders

• No fuel surcharges

• High driver-retention rate

• The lowest net delivery cost in our industry

To find out more, call or visit:

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