sample of a business plan of a hardware

ZenBusinessPlans

Home » Sample Business Plans » Wholesale & Retail

How to Write a Hardware Store Business Plan [Sample Template]

Are you about starting a hardware store? If YES, here is a complete sample hardware store business plan template & feasibility report you can use for FREE . So we have considered all the requirements for starting a hardware store. We also took it further by analyzing and drafting a sample hardware store business marketing plan template backed up by actionable guerrilla marketing ideas for hardware stores. So let’s proceed to the business planning section .

Why Start a Hardware Store Business?

If you are looking for a business to start as an entrepreneur and you know you have an interest in running a store, then you should consider starting your own hardware store business. Although you don’t need a college degree to establish your own hardware store, but you would need some form of informal training.

It would help you to learn how to manage your own store. It is important to point out that hardware store business is one the businesses that can’t go out of fashion because of the role it plays in our society.  The startup capital for this type of business can be considered to be moderate.

As a matter of fact, you can start your own hardware store and then grow it big within a short period of time by reinvesting your profits back to the business. Below is a sample hardware store business plan template that will help you successfully write yours without much stress

A Sample Hardware Store Business Plan Template

1. industry overview.

Stores in the Hardware Stores industry primarily retail a broad range of home renovation equipment and related supplies. Products such as hardware, plumbing, electrical and paint-related tools et al are the most commonly stocked goods you will likely find in a hardware store.

If you are a follower of happenings in the industry, you would have noticed that the industry has steadily improved over the five years to 2017. As the housing market has strengthened and consumer confidence has revived, individuals have started home improvement projects that had been put on hold during the recession.

Low mortgage rates during the period have also encouraged individuals to purchase and renovate new and existing homes. This flurry of construction activity has boosted demand for industry products from both contractors and do-it-yourself consumers. Going forward, revenue generated by the Hardware Stores industry is projected to grow at a slower rate.

The Hardware Stores Industry is indeed a large industry and pretty much active in all the countries of the world. Statistics have it that in the united states of America alone, there are about 19,935 registered and licensed hardware stores scattered all across the United States responsible for directly employing about 148,516 people and the industry rakes in a whooping sum of $24 billion annually.

The industry is projected to grow at 1.3 percent within 2011 and 2016. It is important to state that Ace Hardware, Do It Best and True Value Company have the largest chunk of the available market share in the industry. A recent report published by IBISWorld shows that the Hardware Stores industry has moderate barriers to entry.

The report further stated that high startup costs and the saturated nature of the market may deter new companies from entering the industry. Operators that plan to enter this industry need to consider the capital investment required to establish or purchase a store.

For example, to be eligible to join True Value Company, prospective operators must have a minimum of $150,000 unencumbered cash available for investment, while the total investment to open an Ace store ranges from $823,495 to $1,563,495, depending on store size and other variable factors. Of the total investment, $150,000 to $250,000 cash is needed.

The tough part as it relates to start-up costs most likely are the need to establish a supply of hardware and other related goods from wholesalers or directly from manufacturing companies. This is so because a hardware store business cannot be started without sourcing products for sale.

Regardless of moderate barriers to entry, the competitive nature of the industry makes it very difficult for new operators to break even within a short period of time in the industry.

Lastly, the Hardware Stores industry is pretty much open for aspiring entrepreneurs to launch their business. One good thing about hardware stores business is that the business can be opened in any part of the United States and if proper market survey and feasibility studies are conducted, then you can be rest assured of the profitability of the business.

2. Executive Summary

Mike Mendez® Hardware Stores, Inc. is a standard hardware store that will be located in High Street, Short North Arts District, Columbus – Ohio. We have been able to lease a facility that is big enough (a 4 thousand square foot facility) to fit into the design of the kind of standard hardware store that we intend launching and the facility is located in a corner piece along a major road close to one of the largest residential estates in Columbus – Ohio.

Mike Mendez® Hardware Stores, Inc. will retail products such as hardware, tools, plumbing and electrical supplies, lawn, garden and farm supplies, paint and lumber and other building materials from different manufacturers in the United States and abroad. We are set to service a wide range of clientele in and around Columbus – Ohio.

We are aware that there are several large and small chains of hardware store outlets all around Columbus – Ohio, which is why we spent time and resources to conduct a thorough feasibility studies and market survey so as to be well positioned to favorably compete with all our competitors.

We have an online – service option for our customers, and our outlet is well secured with various payments of options. Mike Mendez® Hardware Stores, Inc. will ensure that all our customers are given first class treatment whenever they visit our store.

We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large our customer base may grow to. We will ensure that we get our customers involved in the selection of brands that will be in our store and also when making some business decisions that directly affects them.

Mike Mendez® Hardware Stores, Inc. will at all times demonstrate her commitment to sustainability, both individually and as a firm by actively participating in our communities and integrating sustainable business practices wherever possible.

We will ensure that we hold ourselves accountable to the highest standards by meeting our customers’ needs precisely and completely whenever they patronize our products. Mike Mendez® Hardware Stores, Inc. is a family business that is owned by Mike Mendez and his immediate family members.

Mike Mendez has a Diploma in Business Administration with over 5 years of experience in the retailing stores industry, working for some of the leading brands in the United States. Although the business is launching out with just one outlet in Columbus – Ohio, but there is a plan to open other outlets in major cities in the United States and Canada.

3. Our Products and Services

Mike Mendez® Hardware Stores, Inc. is in the hardware stores industry to service a wide range of clients and of course to make profits, which is why we will go all the way to make available a wide range of hardware and other related products from top manufacturing brands in the United States and other countries of the world.

Our product offerings are listed below;

• Retailing hardware
• Retailing tools and equipment
• Retailing plumbing fixtures and fittings
• Retailing electrical supplies
• Retailing paint and supplies
• Retailing garden products and equipment

4. Our Mission and Vision Statement

• Our vision is to become one of the leading brands in the hardware stores industry in Columbus – Ohio and in other key cities in the United States of America and Canada.
• Our mission is to establish a world – class hardware store business that will make available a wide range of hardware and other related products from top manufacturing brands at affordable prices to the residents of Columbus – Ohio and other key cities in the United States of America and Canada where we intend opening chains of hardware retail stores.

Our Business Structure

Mike Mendez® Hardware Stores, Inc. do not intend to start a hardware retail store business like the usual mom and pop business around the street corner; our intention of starting a hardware retail store business is to build a standard retail store outlet in Columbus – Ohio.

Although our hardware retail store business might not be as big as Ace Hardware, Do It Best and True Value Company et al, but will ensure that we put the right structures in place that will support the kind of growth that we have in mind while setting up the business.

We will ensure that we hire people that are qualified, honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders.

As a matter of fact, profit-sharing arrangement will be made available to all our senior management staff and it will be based on their performance for a period of ten years or more. In view of that, we have decided to hire qualified and competent hands to occupy the following positions;

• Chief Executive Officer (Owner)
• Store Manager
• Human Resources and Amin Manager

Merchandize Manager

Sales and Marketing Manager

Information Technologist

• Accountants / Cashiers
• Sales Agents / Customer Services Executive

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Grows management’s effectiveness by employing, selecting, orientating, preparation, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• Accountable for fixing prices and signing business deals
• Accountable for providing direction for the business
• Builds, interconnects, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Accountable for signing checks and documents on behalf of the company
• Evaluates the success of the organization

Admin and HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Maintains office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defines job positions for recruitment and managing interviewing process.
• Carries out staff induction for new team members.
• Responsible for training, evaluation and assessment of employees.
• Accountable for arranging travel, meetings and appointments.
• Oversees the smooth running of the daily office cum business activities.

Store Manager:

• Responsible for managing the daily activities in the store.
• Ensures that proper records of hardware and other related products are kept and the warehouse does not run out of products.
• Ensures that the store facility is in tip top shape and goods are properly arranged and easy to locate.
• Interfaces with third – party suppliers.
• Controls hardware distribution and supply chain inventory.
• Oversees the workforce in the hardware sales floor.
• Manages vendor relations, market visits, and the ongoing education and development of the organizations’ buying teams
• Helps to ensure consistent quality of hardware, tools, plumbing and electrical supplies, lawn, garden and farm supplies, paint and sundries and lumber and other building materials et al from different manufacturers are purchased and retailed in good price that will ensure we make good profit
• Accountable for planning sales, monitoring inventory, selecting the merchandise, and writing and pricing orders to vendors
• Manages external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Model demographic information and analyze the volumes of transactional data generated by customer purchases
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assures the completion of development projects.
• Responsible for supervising implementation, advocate for the customer’s needs, and communicate with clients
• Develops, executes and evaluates new plans for expanding sales
• Document all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the company
• Manages the organization’s website
• Handles ecommerce aspect of the business
• Responsible for installing and maintenance of computer software and hardware for the organization
• Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
• Manages the organization’s CCTV
• Handles any other technological and IT related duties.

Accountant/Cashier:

• Accountable for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports; analyzes financial feasibility for the most complex proposed projects; conducts market research to forecast trends and business conditions.
• In control of financial forecasting and risks analysis.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for developing and managing financial systems and policies
• Responsible for administering payrolls
• Ensures compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization

Client Service Executive

• Ensures that all contacts with clients (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
• Finds out the customer’s needs, recommend, select and help locate the right merchandise, describe a product’s features and benefits.
• make suggestions and encourage purchase of products
• Provides information about warranties, manufacturing specifications, care and maintenance of merchandise and delivery options
• Bags or packages purchases
• Responsible for cleaning all the products and the store facility at all times.
• Ensures that toiletries and supplies don’t run out of stock.
• Handles any other duty as assigned by the store manager.

6. SWOT Analysis

Our intention of starting just one outlet of our hardware retail store in Columbus – Ohio is to test run the business for a period of 3 to 5 years to know if we will invest more money, expand the business and then open other outlets all over major towns in Ohio and key cities in the United States.

We are quite aware that there are several hardware retail stores all over Charleston and even in the same location where we intend locating ours, which is why we are following the due process of establishing a business.

We know that if a proper SWOT analysis is conducted for our business, we will be able to position our business to maximize our strength, leverage on the opportunities that will be available to us, mitigate our risks and be equipped to confront our threats.

Mike Mendez® Hardware Stores, Inc. employed the services of a Business Analyst with bias in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that will help us achieve our business goals and objectives. This is the summary of the SWOT analysis that was conducted for Mike Mendez® Hardware Stores, Inc.;

Ability to control stock on hand, experienced work force and having a loyal customer base are some of our core strength. So also, our location, the business model we will be operating, varieties of payment options, wide range of hardware and other related products from different manufacturing brand and our excellent customer service culture will definitely count as a plus for Mike Mendez® Hardware Stores, Inc.

A major weakness that may count against us is the fact that we are a new hardware retail store outlet in Columbus – Ohio and we don’t have the financial capacity to compete with multi – million dollars’ hardware retail store outlets like Ace Hardware, Do It Best and True Value Company and co when it comes to retailing at rock bottom prices.

• Opportunities:

The fact that we are going to be operating our hardware retail store in a corner piece property along a major road close to one of the largest residential estates in Columbus – Ohio provides us with unlimited opportunities to sell our hardware and other related products to a large number of individuals.

We have been able to conduct thorough feasibility studies and market survey and we know what our potential clients will be looking for when they visit our hardware store outlets.

Just like any other business, one of the major threats that we are likely going to face is economic downturn. Another threat that may likely confront us is the arrival of a new hardware store in same location where ours is located. So also, unfavorable government policies may also pose a threat to businesses such as ours.

7. MARKET ANALYSIS

• Market Trends

Recent trends in the hardware industry show that external competition has slightly dampened both industry revenue and profit growth. Hardware stores have shifted business models to deal with heightened external competition and they will continue to be pressured by online retailers and larger home improvement stores. Experts projected that in 2017, the hardware stores industry is expected to profit from growing global economic conditions.

The hardware retail stores landscape has seen tremendous changes in the last 20 years; it has grown from the smaller outlets to a more organized and far reaching venture. The introduction of franchise and online store makes it easier for a hardware retailer to reach out to a larger market far beyond the areas where his physical store is located.

8. Our Target Market

Those who patronize hardware stores cut across all genders above 18 years with the financial means, and who own an apartment or office/business hence the target market for the hardware store business is all encompassing. In essence, your target market can’t be restricted to just a group of people but all those who reside in and around our store location.

In view of that, we have positioned our hardware retail store to service the residents of High Street, Short North Arts District, Columbus – Ohio and every other location where franchise cum outlets of our hardware retail stores will be located.

We have conducted our market research and feasibility studies and we have ideas of what our target market would be expecting from us. We are in business to retail a wide range of hardware and other related products to the following groups of people and corporate organizations;

• Construction and Real Estate Companies
• Banks, Insurance Companies and other related Financial Institutions
• Real Estate Owners, Developers, and Contractors
• The Government (Public works department)
• Schools (High Schools, Colleges and Universities)
• Sport Facilities
• Individuals and households

Our Competitive Advantage

A close study of the hardware stores industry reveals that the market has become much more intensely competitive over the last decade. As a matter of fact, you have to be highly creative, customer centric and proactive if you must survive in this industry.

We are aware of the stiff competition and we are well prepared to compete favorably with other leading stores in Columbus – Ohio and throughout the United States. Mike Mendez® Hardware Stores, Inc. is launching a standard one stop hardware store that will indeed become the preferred choice of residents of Columbus – Ohio and every other location where our outlets will be opened.

One thing is certain; we will ensure that we have a wide range of hardware and other related products from leading manufacturers available in our store at all times. It will be difficult for customers to visit our store and not see the type of hardware they are looking for. Our excellent customer service culture, online store, various payment options and highly secured facility will serve as a Competitive Advantage for us.

Lastly, our employees will be well taken care of, and their welfare package will be among the best within our category in the industry meaning that they will be more than willing to build the business with us and help deliver our set goals and achieve all our aims and objectives. We will also give good working conditions and commissions to freelance sales agents that we will recruit from time to time.

9. SALES AND MARKETING STRATEGY

• Sources of Income

Mike Mendez® Hardware Stores, Inc. is in business to retail a wide range of hardware and other related products to the residents of Columbus – Ohio. We are in the hardware stores industry to maximize profit and we are going to go all the way out to ensure that we achieve or business goals and objectives.

Mike Mendez® Hardware Stores, Inc. will generate income by selling the following products;

10. Sales Forecast

When it comes to hardware retail stores, if your store is well stocked with various types of hardware and centrally positioned, you will always attract customers cum sales and that will sure translate to increase in revenue generation for the business.

We are well positioned to take on the available market in Columbus – Ohio and we are quite optimistic that we will meet our set target of generating enough income from the first six months of operation and grow the business and our clientele base.

We have been able to critically examine the hardware retail industry, we have analyzed our chances in the industry and we have been able to come up with the following sales forecast. The sales projections are based on information gathered on the field and some assumptions that are peculiar to startups in Columbus – Ohio.

Below are the sales projections for Mike Mendez® Hardware Stores, Inc. it is based on the location of our business and other factors as it relates to hardware retail startups in the United States;

• First Fiscal Year: $250,000
• Second Fiscal Year: $450,000
• Third Fiscal Year: $750,000

N.B : This projection was done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and there won’t be any major competitor within our market space. Please note that the above projection might be lower and at the same time it might be higher.

• Marketing Strategy and Sales Strategy

Before choosing a location for Mike Mendez® Hardware Stores, Inc. we conducted a thorough market survey and feasibility studies in order for us to penetrate the available market. We have detailed information and data that we were able to utilize to structure our business to attract the number of customers we want to attract per time.

We hired experts who have good understanding of the hardware retail industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Columbus – Ohio.

In other to continue to be in business and grow, we must continue to sell the hardware and other related products that are available in our store which is why we will go all out to empower or sales and marketing team to deliver. In summary, Mike Mendez® Hardware Stores, Inc. will adopt the following sales and marketing approach to win customers over;

• Open our store in a grand style with a party for all.
• Introduce our hardware store by sending introductory letters alongside our brochure to residents, businesses and other key stakeholders in Columbus – Ohio.
• Ensure that we have a wide range of hardware and other related products from different brands at all times.
• Make use of attractive hand bills to create awareness and also to give direction to our store.
• Position our signage/flexi banners at strategic places around Columbus – Ohio
• Position our greeters to welcome and direct potential customers.
• Create a loyalty plan that will enable us reward our regular customers.
• Engage in roadshows within our neighborhood to create awareness for our hardware retail store.
• List our business and products on yellow pages ads (local directories).
• Leverage on the internet to promote our business.
• Engage in direct marketing and sales
• Encourage the use of Word of mouth marketing (referrals).
• Join local chambers of commerce and industries to network and market our products.

11. Publicity and Advertising Strategy

Despite the fact that our hardware retail store is well located, we will still go ahead to intensify publicity for the business. We are going to explore all available means to promote our hardware retail store.

Mike Mendez® Hardware Stores, Inc. has a long-term plan of opening outlets in various locations all around Ohio and key cities in the United States and Canada which is why we will deliberately build our brand to be well accepted in Columbus – Ohio before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand. Here are the platforms we intend leveraging on to promote and advertise Mike Mendez® Hardware Stores, Inc.;

• Place adverts on community based newspapers, radio and TV stations.
• Encourage the use of word of mouth publicity from our loyal customers.
• Leverage on the internet and social media platforms like YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Google+ and other platforms to promote our business.
• Ensure that we position our banners and billboards in strategic positions all around Columbus – Ohio.
• Distribute our fliers and handbills in target areas in and around our neighborhood.
• Advertise our hardware retail store business in our official website and employ strategies that will help us pull traffic to the site.
• Brand all our official cars and trucks and ensure that all our staff members and management staff wears our branded shirt or cap at regular intervals.

12. Our Pricing Strategy

Aside from quality, pricing is one of the key factors that gives leverage to hardware retail stores, it is normal for consumers to go to places where they can get hardware and other related products at cheaper price.

In view of that, our prices will conform to what is obtainable in the industry but we will ensure that within the first 6 to 12 months, our products will be sold a little bit below the average price of various hardware stores in the United States of America. We have put in place business strategies that will help us run on low profits for a period of 6 months; it is a way of encouraging people to buy into our brand.

• Payment Options

The payment policy adopted by Mike Mendez® Hardware Stores, Inc. is all inclusive because we are quite aware that different customers prefer different payment options as it suits them but at the same time, we will ensure that we abide by the financial rules and regulation of the United States of America.

Here are the payment options that Mike Mendez® Hardware Stores, Inc. will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via credit cards/Point of Sale Machines (POS Machines)
• Payment via online bank transfer
• Payment via check
• Payment via mobile money transfer
• Payment via bank draft

In view of the above, we have chosen banking platforms that will enable our client make payment for our hardware and other related purchases without any stress on their part. Our bank account numbers will be made available on our website and promotional materials to clients who may want to deposit cash or make online transfer for our products.

13. Startup Expenditure (Budget)

From our market survey and feasibility studies, we have been able to come up with a detailed budget on achieving our aim of establishing a standard hardware shop in Columbus – Ohio and here are the key areas where we will spend our startup capital;

• The total fee for registering the business in the Unites States of America – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and other software) – $3,300.
• Marketing promotion expenses for the grand opening of Mike Mendez® Hardware Stores, Inc. in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
• The cost for hiring business consultant – $2,500.
• Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $2,400.
• The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $105,600.
• The cost for shop remodeling (construction of racks and shelves) – $20,000.
• Other start-up expenses including stationery ($500) and phone and utility deposits ( $2,500 ).
• Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $60,000
• The cost for start-up inventory  – $350,000
• The cost for counter area equipment – $9,500
• The cost for store equipment (cash register, security, ventilation, signage) – $13,750
• The cost of purchase and installation of CCTVs: $10,000
• The cost for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound System, tables and chairs et al): $4,000.
• The cost of launching a website: $600
• The cost for our opening party: $7,000
• Miscellaneous: $10,000

We would need an estimate of $750,000 to successfully set up a standard hardware retail store in Columbus – Ohio.

Generating Funds/Startup Capital for Mike Mendez® Hardware Stores, Inc.

Mike Mendez® Hardware Stores, Inc. is a private registered business that is solely owned and financed by Mike Mendez and his immediate family members. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing of the startup capital to 3 major sources.

These are the areas we intend generating our startup capital;

• Generate part of the startup capital from personal savings
• Source for soft loans from family members and friends
• Apply for loan from my Bank

N.B: We have been able to generate about $250,000 (Personal savings $200,000 and soft loan from family members $50,000) and we are at the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the number of loyal customers that they have, the capacity and competence of their employees, their investment strategy and the business structure. If all of these factors are missing from a business, then it won’t be too long before the business closes shop.

One of our major goals of starting Mike Mendez® Hardware Stores, Inc. is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to retail our wide range of products such as hardware, tools, plumbing and electrical supplies, lawn, garden and farm supplies, paint and sundries and lumber and other building materials et al from different manufacturers (brands) a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Mike Mendez® Hardware Stores, Inc. will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and retraining of our workforce is at the top burner.

We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

• Business Name Availability Check: Completed
• Business Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sales (POS) Machines: Completed
• Opening Mobile Money Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Leasing of facility and remodeling the shop: In Progress
• Conducting Feasibility Studies: Completed
• Generating capital from family members: Completed
• Applications for Loan from the bank: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents and other relevant Legal Documents: In Progress
• Design of The Company’s Logo: Completed
• Graphic Design and Printing of Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Purchase of the needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business both online and around the community: In Progress
• Health and Safety and Fire Safety Arrangement (License): Secured
• Opening party planning: In Progress
• Compilation of our list of products that will be available in our store: Completed
• Establishing business relationship with vendors – manufacturers and suppliers of hardware and other related products: In Progress

More on Wholesale & Retail

Starting Hardware Store Business Plan (PDF)

Starting a hardware store business is an incredibly lucrative venture, boasting robust profit margins and a constant demand for its products and services. As the backbone of any community’s building and repair needs, hardware stores serve as essential hubs where customers can find a wide range of tools, construction materials, and home improvement supplies. These stores are more than just places to purchase tools, supplies, and building materials—they are hubs of knowledge, expertise, and essential resources for homeowners, contractors, and DIY enthusiasts alike. In an era of rapid urban development and increasing home renovation projects, the hardware store industry remains resilient and holds significant growth potential.

It is projected that the 21 st century will continue to be characterized by concerted construction activities. That stems, in part, from the projected increase in the global population. Plus, regions that have had mostly archaic infrastructure are being upgraded. Governments and the private sector are stepping up property and infrastructure development projects. Overall, residential, commercial, and industrial domains are experiencing a construction boom. For instance, the most sought-after materials right now are concrete, steel, and wood. All these dynamics are creating a huge market for hardware supplies. Thus starting a hardware retail store is bound to be lucrative owing to the ever-expanding market.  This article will outline how to start the hardware store business, and the hardware store business plan – PDF, Word and Excel.

Market Research

Carrying out market research is essential before starting the hardware store business. Market research involves identifying a market for hardware products and services, including important measurable characteristics. Seek to find out the market size for hardware products and services. Whilst doing that find out the popular products or services being offered. Check out up to date hardware industry statistics to help you in those regards. There are usually major players already operating and you should study them. Find out what kind of hardware products and services they offer. Find out about the market shares they own and control. Take time to also evaluate their customer dynamics. All this will help you zone in on a strategic target market. That is why the other area to look into is consumer attributes. What are the general hardware buying habits of consumers in your intended target market? What do they buy, how often, and how much do they spend on average? What are their source of incomes and their average incomes? Whilst you can get ready-made reports on these details, it would be wise to also conduct surveys yourself. You can unearth more details this way. By putting all these together you get a comprehensive understanding of the market. You should ensure that you have a hardware business plan before you venture into this business.

Location And Premises for a Hardware Store

A significant percentage of the demand for hardware products and services stems from the construction industry. So you can identify a location at or near a steadily growing residential area where people are at various stages of constructing their houses. It isn’t enough to only look at the steady growth of such areas alone. These must be people who generally have substantial income levels such that they can afford to buy your products. So that shouldn’t be overlooked because you might regret it later if you don’t find out about it prior.

Your location must be spacious enough to have parking space that adequately accommodates any type of vehicle i.e. for customers and suppliers. The interior of the hardware complex will also have to be spacious with products well arranged in a way that optimizes customers’ buying experience. The road network surrounding or leading to the complex must be well networked and in good shape to promote ease of access for both vehicles and those walking in on foot. Your hardware store business plan should take into account the cost of purchasing or renting premises.

Permits/Licenses, Insurance & Business Bank Account

It depends on where you will be operating from but a hardware store business has to be licensed. In most cases it starts from the basic business or company registration that is mandatory. Then you will usually need a hardware store license. You will also have to be registered with the applicable revenue authority for tax purposes. Other types of permits or licenses might be needed depending on the nature of the hardware products or services you deal with. There are countless risk factors associated with running a hardware store. Your hardware store would need insurance cover for at least general liability, property, crime, and workers. You can get more comprehensive details from reputable insurance providers. In addition to all this you must open a business bank account for your hardware store. Desist from using your personal bank account for your hardware store operations. Having a dedicated business bank account streamlines taxation and bookkeeping. It also presents an authentic brand image. It shields you from business debt liability thus protecting your personal assets. In cases where you need to apply for funding it increases your chances of being considered. Costs of insurance and licenses should be included in your hardware store business plan.

Products for a Hardware Store Business

There’s a very broad range of hardware products that you can sell in your hardware store. Some of the broad categories are agricultural implements, tool sets, protective clothing, building materials, electrical items, plumbing supplies, ironwork materials. So the range of products you can sell is quite diverse e.g. cement, bricks, paint, steel rods (or bars), pipes, adhesives, timber products, door frames, window frames ceramics, various kinds of associated accessories, water reservoirs, glassware, safety shoes, nuts, bolts, nails, screws, work suits, various assortments of hand tools and so on.

Your product range can start relatively small and grow as you add more products informed by recurring customer needs. Earlier we discussed about doing market research because it greatly helps you in knowing what to put in stock. Obviously your hardware store business plan should include money for purchasing the hardware products. Usually as a business person you might be having financial challenges to startup the business so it would be important to know what’s in demand and start off with that.

Inventory Management

Inventory management (or inventory control) refers to the recording and tracking of hardware stock in your store.  Proper inventory management is key to having a profitable hardware store business. The goal is to maintain an optimum number or amount of all inventory items. You should be able to have in stock what a customer seeks. You should be able to detect in good time hardware items that need to be replenished. If this is not properly done it leads to disruptions in sales thus negatively affecting the profitability of your hardware store business. In this day and age you are better off using inventory management software than using manual approaches. The ideal setup is to have an electronic point of sale system or software (EPOS) for your hardware store business. An EPOS with an integrated inventory management function is the best.

Business Model

The business model is the fundamental framework that outlines how a hardware store operates, generates revenue, and creates value for its customers. In the hardware store industry, the most common business model involves the sale of a wide range of tools, building materials, hardware, and related products to both individual consumers and contractors. This model often relies on maintaining an extensive inventory of products to meet the diverse needs of customers. Revenue is primarily generated through the sale of these products, with profit margins varying based on the type of items sold.

To enhance profitability, hardware stores often adopt a mix of strategies. They may offer additional services such as tool rental, key cutting, paint mixing, or even repair services for certain tools and equipment. These supplementary services not only generate additional income but also create a more comprehensive customer experience, making the store a one-stop destination for various hardware-related needs.

In recent years, hardware stores have also embraced digital transformation by establishing an online presence. This allows customers to browse products, check inventory, and place orders online, which can significantly expand the store’s reach and customer base. Some hardware stores may also explore e-commerce as a complementary revenue stream, allowing them to tap into a broader market beyond their physical location. Overall, the hardware store business model continues to evolve to meet the changing needs and preferences of customers while remaining grounded in providing essential products and services for home improvement and construction projects.

Competitive Analysis

Competitive analysis is the assessment of the differences between your hardware store’s performance and that of its competitors. The goal is to detect and examine the factors that cause those differences. In essence you are studying your competition in order to outsmart them. What you unearth from competitive analysis informs your business strategy. Identify who your competitors are and segment them e.g. primary (major focus), secondary, and tertiary. Assess their place or stake in the market. Then do a comparison of what they offer and what you intend to offer. When doing competitive analysis for your hardware store business, you are not just assimilating information. The thrust is to identify market gaps which will be the openings you need. Lacking in skillsets and experience on the current players can be a market gap. You will also get to notice some outstanding pain points consumers still struggle with. Maybe there could be a hardware niche or niches that are underserved – those are market gaps. Regulatory and legislative aspects can also provide insights into market gaps. The marks of a well done competitive analysis will be you identifying market gaps.

Staff And Management

The effective running of a hardware business requires a significant workforce. As a rule of thumb staffing needs are always informed by your intended scale of operations. Some of the key areas in this business are operations management, supply chain management, financial management and inventory management. You’ll need cashiers/till operators, general hands, supervisors, shop attendants and customer attendants as some of the vital components of your operations management team.

The operations team will be central to overseeing the supply chain and inventory management aspects. You must understand that smooth flow of a hardware store business entails consistent monitoring and evaluation of stocks. There’s also a need for a seamless framework for timeous sourcing and receipt of stock from suppliers. Financial accounting is critically important for a hardware business so as to empirically keep track of all transactions.

A hardware shop business also draws more customers when it offers delivery services. Having marketing agents is also strategic because marketing needs serious attention in light of the existence of competitors. As you can see, synching and optimizing all these components together requires a strong and dedicated team. The top management will, depending on scale of operations, constitute of either qualified hired personnel or family members. The hardware business plan should include provisions of salaries for all your workforce.

The major causes of failure of hardware stores include poor financial management resulting in losses. No wonder financial accounting must be thoroughly done when running this business. It’s also encouraged that you conduct stock takes regularly, an exercise that’ll feed into your financial management efforts.

Marketing Plan

Digital marketing must be your biggest focus. Get a website developed for the business to have brand visibility online. Buttress this by setting up active social media accounts on Facebook, LinkedIn, WhatsApp, Instagram and Twitter. Leverage on those platforms’ features such as stories, reels, and status updates to daily send out brand awareness content. Take advantage of print (e.g. fliers, posters, banners) and digital (e.g. e-fliers) media for brand awareness. Aim at exhibiting or being at strategic events such as trade fairs, expos, and the like. Explore options to get featured in strategic publications such as blogs, newspapers, podcasts, radio shows, and so on. Come up with promotionals e.g. discounts. Institute a customer loyalty programme which will be instrumental in boosting word of mouth marketing. Engage social media influencers to tap into large pools of potential customers. Overall, strive to devote at least 5 percent of your revenue towards marketing initiatives. The hardware store business plan should include a proper marketing plan for your business.

Market for Hardware Products

There are several customer sources for a hardware shop. These include building and construction (both new constructing projects and renovations), Do It Yourself (DIY) projects, agriculture industry, electrical and plumbing projects, and maintenance work. Property owners carry out renovations, upgrades, repairs on their properties, and to do that they need hardware products.  Other potential customers for a hardware store business include construction companies, organisations, housing cooperatives, schools, private companies, individuals, farmers and the government.

Keys To Profitability

Starting a hardware store business can be a lucrative venture, but like any other business, success depends on various factors. To ensure profitability in your hardware store, it’s crucial to focus on a few key strategies. First and foremost, effective inventory management is essential. Maintaining the right balance of products, avoiding overstocking or understocking, and regularly reviewing your inventory can help reduce carrying costs and increase your bottom line. Additionally, understanding your target market and offering products that cater to their specific needs and preferences can set you apart from the competition and boost sales. Diversifying your product range is essential. Offering a diverse selection of products, including traditional hardware items, seasonal products, tools, gardening supplies, and home improvement materials, can attract a broader customer base and increase sales opportunities throughout the year. Cost control is another crucial aspect of profitability. Carefully monitor expenses and overhead costs, and regularly review your financial statements to identify areas where you can cut unnecessary spending. Negotiating favorable terms with suppliers, considering bulk purchasing for commonly sold items, can help you secure better pricing on products, increasing your profit margins.

An efficient store layout and visual merchandising are critical. Creating an organized and visually appealing store layout that makes it easy for customers to find what they need can encourage impulse purchases and boost overall sales. Proper signage and strategic product placement can further enhance the shopping experience. Provide exceptional customer service. Customers often return to stores where they receive personalized assistance, expert advice, and a pleasant shopping experience. Well-trained and knowledgeable staff can make a significant difference in customer satisfaction and loyalty. Embracing technology and modernizing your hardware store operations can contribute to profitability. Implementing point-of-sale systems, inventory management software, and an online presence can streamline processes, improve efficiency, and attract a wider customer base. Marketing and promotion are indispensable for drawing customers to your hardware store. Utilize a combination of traditional advertising methods, such as local newspapers and flyers, along with digital marketing techniques like social media, email campaigns, and a user-friendly website. Offering promotions, discounts, and loyalty programs can incentivize repeat business and increase revenue.

Advantages Of A Hardware Store Business

Starting a hardware store business offers several compelling advantages that make it a promising venture in the retail industry. First and foremost, hardware stores benefit from a steady and consistent demand for their products. Whether it’s for routine home maintenance, DIY projects, renovations, or construction work, people rely on hardware stores year-round, providing a reliable customer base that can help stabilize your store’s revenue over time. Providing excellent customer service and a well-stocked inventory can lead to repeat business. Many customers return to hardware stores for ongoing projects, maintenance, or additional supplies. Building a loyal customer base can contribute significantly to long-term success.

Another significant advantage is the diverse product range that hardware stores typically offer. From basic tools and fasteners to power equipment and building materials, these establishments cater to a broad spectrum of customers, including homeowners, contractors, do-it-yourself enthusiasts, and hobbyists. This diversity not only broadens your customer base but also increases sales opportunities, as customers often find a wide array of products under one roof, making their shopping experience more convenient. The business is also very profitable. While individual items may have lower profit margins, hardware stores often make up for it through the volume of sales. High inventory turnover and a consistent flow of customers results in healthy overall profit margins.

Additionally, hardware stores tend to be recession-resistant businesses. During economic downturns, people often prioritize home maintenance and smaller-scale improvement projects, rather than undertaking major renovations or new construction. This inclination toward more modest projects can lead to increased sales for hardware stores, making them relatively resilient in challenging economic times. This stability is a compelling advantage for entrepreneurs looking to invest in a business with long-term sustainability.

Why You Need A Hardware Store Business Plan

A business plan is instrumental in helping you comprehend the profitability of your hardware store business by providing a detailed financial analysis. It outlines the expected revenue streams, including sales projections, pricing strategies, and market demand analysis. Moreover, it delves into the various factors that impact profitability, such as operational costs, volumes sold and markup margins. By quantifying these variables and examining their interplay within the plan, you can gain a comprehensive understanding of the financial landscape, enabling you to make informed decisions, identify potential areas for cost optimization, and ultimately enhance the profitability of your hardware store.

A business plan is also an essential tool for securing funding for your hardware store business. It serves as a detailed blueprint that demonstrates your business’s viability, growth potential, and financial projections to potential investors, lenders, or partners. A well-structured business plan showcases your understanding of the market, competition, and target audience, instilling confidence in financiers about the soundness of your venture. It provides a clear roadmap for how you intend to utilize the funding and achieve your business objectives, giving investors assurance that their investment will be wisely used. In essence, a business plan is your persuasive document that not only attracts financial support but also establishes a sense of trust and credibility, making it a vital tool in securing the funding needed to launch or expand your hardware store.

A comprehensive hardware store business plan is an indispensable asset for those embarking on or expanding their hardware store ventures. It provides clarity of vision, enabling you to define your store’s mission, vision, and objectives clearly. Articulating your business’s purpose and outlining your goals ensures that you and your team are on the same page, working towards a common vision. It also serves as a strategic roadmap, delineating the strategies and tactics essential for your hardware store’s growth and development. This roadmap helps in making informed decisions and acts as a reference point for measuring progress and making necessary adjustments in a dynamic market landscape.

Pre-Written Hardware Store Business Plan (PDF, Word And Excel): Comprehensive Version, Short Funding/Bank Loan Version and Automated Financial Statements

For an in-depth analysis of the hardware store business, we encourage you to purchase our well-researched and comprehensive hardware business plan. We introduced the business plans after discovering that many were venturing into the hardware business without enough knowledge and understanding of how to run the business, lack of understanding of the financial side of the business, lack of understanding of : the industry, the risks involved , costs and profitability of the business; which often leads to disastrous losses.

The StartupBiz Global hardware shop business plan will make it easier for you to launch and run your hardware store business successfully, fully knowing what you are going into, and what’s needed to succeed in the business. It will be easier to plan and budget as you will be aware of all the costs involved in setting up and running the hardware business.

Uses of the Hardware Business Plan (PDF, Word And Excel)

The hardware shop business plan can be used for many purposes including:

• Raising capital from investors/friends/relatives
• Applying for a bank loan
• Start-up guide to launch your hardware retail business
• As a hardware store business proposal
• Assessing profitability of the hardware business
• Finding a business partner
• Assessing the initial start-up costs so that you know how much to save
• Manual for current business owners to help in business and strategy formulation

Contents of the Hardware Store Business Plan (PDF, Word And Excel)

The hardware business plan include, but not limited to:

• Industry Analysis
• Marketing Strategy
• Market Analysis
• Financial Statements (monthly cash flow projections, income statements, cash flow statements, balance sheets, break even analysis, payback period analysis, start-up costs, financial graphs, revenue and expenses, Bank Loan Amortization)
• Risk Analysis
• SWOT & PEST Analysis
• Operational Requirements
• Operational Strategy
• Why some people in the hardware business fail, so that you can avoid their mistakes
• Ways to raise capital to start your hardware store business

The hardware business plan package consists of 4 files

• Hardware Store Business Plan – PDF file (Comprehensive Version – 70 Pages)
• Hardware Shop Business Plan – Editable Word File (Comprehensive Version – 70 Pages)
• Hardware Store Business Plan Funding/Bank Loan Version- Editable Word File (Short version for applying for a loan/funding – 44 pages)
• Hardware Store Business Plan Automated Financial Statements – (Editable Excel File)

The business plan can be used in any country and can be easily edited. The financial statements are automated. This implies that you can change eg the percentage markup, salaries etc, and all the other financial statements will automatically adjust to reflect the change. 

Click below to download the Contents Page of the Hardware Store Business Plan (PDF)

Testimonial 2

Many thanks for your incredibly efficient service and thorough business plan. I am very impressed with the business plan. Before I bought the business plan, I tried to do my own business plan – it was such a nightmare and it turned out badly, also not to mention the stress it caused me. I wish I knew about your website earlier!

Testimonial 7

I found Startupbiz Global online when I was in desperate need of a business plan. I was overwhelmed by the quality of the business plan, it’s comprehensive and well researched! I did not have to wait to get the business plan, I got it instantly after payment. I highly recommend Startupbiz Global, and would happily use them again in the future.

Testimonial 3

I was extremely lucky to come across StartupBiz Global. Their business plan exceeded my expectations, and most importantly I was able to secure a loan from my bank. Thank you guys, now my dreams are coming true!

Testimonial 6

I purchased a business plan from you, and I’m glad to inform you that I was able to get my loan, and I’m starting my poultry farming business on the 1 st of July. This was made possible because of your business plan. Thank you very much, you made my dream come true.

Testimonial 4

The business plan which I purchased from your website saved me TIME and MONEY! The layout of the business plan was excellent. The financial statements were detailed and easy for me to edit. I will come back to purchase another business plan soon.

Testimonial 1

StartupBiz Global provided a very professional and comprehensive business plan which I used for my business. The business plan was easy to edit, and I was able to get the funding which I wanted. I highly recommend their business plans.

Testimonial 8

Just wanted to say I am very happy with the business plan and I will gladly recommend your products, thank you very much and have a great day.

Testimonial 5

I was able to understand the business side of farming because of your business plan. You did extensive research; the business plan was well prepared and fully detailed.  It made everything clear, and I have somewhere to start now. I am confident that I am going to succeed in my business because of the guidance from your business plan.

Get the Hardware Business Plan (PDF, Word And Excel)

Click Buy Now  below to purchase using Paypal, Credit Card, or Debit Card. After you have purchased, you will immediately see the download link for the business plan package on the screen. You will also immediately get an email with the business plan download link. The Pre-written business plan package (PDF, Word, and Excel) costs $30 only!

If you want to purchase multiple business plans at once then click here: Business Plans Store.

The business plan package is a zipped compressed file containing the PDF, Word and Excel documents. To open the package after downloading it, just right click, and select Extract All. If you have any problems in downloading and opening the files, email us on [email protected] and we will assist you.

We wish you the best in your hardware store business! Check out our collection of business plans  , and more business ideas .

Related Posts

Starting Solar Installation Business Plan (PDF)

Guide On Livestock Farming Business Plan

Starting A Security Company Business Plan (PDF)

Profitable Retail Store Business Ideas

Join our mailing list to receive the latest posts and updates from our website.

You have Successfully Subscribed!

• Business Plans Handbook
• Business Plans - Volume 02
• Hardware Store Business Plan

Hardware Store

FICTIONAL BUSINESS PLAN

OSHKOSH HARDWARE, INC.

123 Main St. Oshkosh, WI 54901

The following fictional plan outlines how a small hardware store can survive competition from large discount chains by offering products and providing expert advice in the use of any product it sells. This plan is fictional and has not been used to gain funding from a bank or other lending institution.

EXECUTIVE SUMMARY

The business, goals implementation.

• JOB DESCRIPTION-GENERAL MANAGER

QUARTERLY FORECASTED BALANCE SHEETS

Quarterly forecasted statements of earnings and retained earnings, quarterly forecasted statements of changes in financial position, financial ratio analysis, details for quarterly statements of earnings.

Oshkosh Hardware, Inc. is a new corporation which is going to establish a retail hardware store in a strip mall in Oshkosh, Wisconsin. The store will sell hardware of all kinds, quality tools, paint and housewares. The business will make revenue and a profit by servicing its customers not only with needed hardware but also with expert advice in the use of any product it sells.

Oshkosh Hardware, Inc. will be operated by its sole shareholder, James Smith. The company will have a total of four employees. It will sell its products in the local market. Customers will buy our products because we will provide free advice on the use of all of our products and will also furnish a full refund warranty.

Oshkosh Hardware, Inc. will sell its products in the Oshkosh store staffed by three sales representatives. No additional employees will be needed to achieve its short and long range goals. The primary short range goal is to open the store by October 1, 1994. In order to achieve this goal a lease must be signed by July 1, 1994 and the complete inventory ordered by August 1, 1994.

James Smith will invest $30,000 in the business. In addition the company will have to borrow $ 150,000 during the first year to cover the investment in inventory, accounts receivable, and furniture and equipment. The company will be profitable after six months of operation and should be able to start repayment of the loan in the second year.

The business will sell hardware of all kinds, quality tools, paint, and housewares. We will purchase our products from three large wholesale buying groups.

In general our customers are homeowners who do their own repair and maintenance, hobbyists, and housewives. Our business is unique in that we will have a complete line of all hardware items and will be able to get special orders by overnight delivery. The business makes revenue and profits by servicing our customers not only with needed hardware but also with expert advice in the use of any product we sell. Our major costs for bringing our products to market are cost of merchandise of 36%, salaries of $45,000, and occupancy costs of $60,000.

Oshkosh Hardware, Inc.'s retail outlet will be located at 1524 Frontage Road, which is in a newly developed retail center of Oshkosh. Our location helps facilitate accessibility from all parts of town and reduces our delivery costs. The store will occupy 7500 square feet of space. The major equipment involved in our business is counters and shelving, a computer, a paint mixing machine, and a truck.

Oshkosh Hardware, Inc. will operate in the local market. There are 15,000 potential customers in this market area. We have three competitors who control approximately 98% of the market at present. We feel we can capture 25% of the market within the next four years. Our major reason for believing this is that our staff is technically competent to advise our customers in the correct use of all products we sell.

After a careful market analysis we have determined that approximately 60% of our customers are men and 40% are women. The percentage of customers that fall into the following age categories are:

The reasons our customers prefer our products is our complete knowledge of their use and our full refund warranty.

We get our information about what products our customers want by talking to existing customers. There seems to be an increasing demand for our product. The demand for our product is increasing in size based on the change in population characteristics.

At Oshkosh Hardware, Inc. we will employ three sales people and will not need any additional personnel to achieve our sales goals. These salespeople will need several years experience in home repair and power tool usage. We expect to attract 30% of our customers from newspaper ads, 5% of our customers from local directories, 5% of our customers from the yellow pages, 10% of our customers from family and friends and 50% of our customers from current customers. The most cost-effective source will be current customers. In general, our industry is growing.

We would evaluate the quality of our management staff as being excellent. Our manager is experienced and very motivated to achieve the various sales and quality assurance objectives we have set. We will use a management information system which produces key inventory, quality assurance and sales data on a weekly basis. All data is compared to previously established goals for that week and deviations are the primary focus of the management staff.

The short term goals of our business are:

• Open the store by October 1, 1994
• Reach our breakeven point in two months
• Have sales of $ 100,000 in the first six months

In order to achieve our first short term goal we must:

• Sign the lease by July 1, 1994
• Order a complete inventory by August 1, 1994

In order to achieve our second short term goal we must:

• Advertise extensively in September and October
• Keep expenses to a minimum

In order to achieve our third short term goal we must:

• Promote power tool sales for the Christmas season
• Keep good customer traffic in January and February

The long term goals for our business are:

• Obtain sales volume of $600,000 in three years
• Become the largest hardware dealer in the city
• Open a second store in Fond du Lac

The most important thing we must do in order to achieve the long term goals for our business is to develop a highly profitable business with excellent cash flow.

Oshkosh Hardware, Inc. Faces some potential threats or risks to our business. They are discount house competition. We believe we can avoid or compensate for this by providing quality products complimented by quality advice on the use of every product we sell. The financial projections we have prepared are located at the end of this document.

JOB DESCRIPTION: GENERAL MANAGER

The General Manager of the business of the corporation will be the president of the corporation. He will be responsible for the complete operation of the retail hardware store which is owned by the corporation. A detailed description of his duties and responsibilities is as follows:

Train and supervise the three sales people. Develop programs to motivate and compensate these employees. Coordinate advertising and sales promotion effects to achieve sales totals as outlined in budget. Oversee purchasing function and inventory control procedures to insure adequate merchandise at all times at a reasonable cost.

Prepare monthly and annual budgets. Secure adequate line of credit from local banks. Supervise office personnel to insure timely preparation of records, statements, all government reports, control of receivables and payables and monthly financial statements.

Administration

Perform duties as required in the areas of personnel, building leasing and maintenance, licenses and permits and public relations.

User Contributions:

Comment about this article, ask questions, or add new information about this topic:.

How to Start a Profitable Hardware Business [11 Steps]

By Nick Cotter Updated Feb 02, 2024

Business Steps:

1. perform market analysis., 2. draft a hardware business plan., 3. develop a hardware brand., 4. formalize your business registration., 5. acquire necessary licenses and permits for hardware., 6. open a business bank account and secure funding as needed., 7. set pricing for hardware services., 8. acquire hardware equipment and supplies., 9. obtain business insurance for hardware, if required., 10. begin marketing your hardware services., 11. expand your hardware business..

Beginning a hardware business requires a comprehensive understanding of the market landscape to identify opportunities and challenges. A market analysis will enable you to gauge demand, competition, and potential customer base. Here’s how to proceed:

• Research your target market by collecting data on demographics, spending habits, and needs to understand who your customers are and what they're looking for.
• Analyze local and regional competitors to assess their product offerings, pricing, strengths, and weaknesses to find your unique selling proposition.
• Investigate industry trends and future predictions to align your business strategy with where the market is headed.
• Utilize government and industry reports for statistics and market insights that can help in making informed decisions.
• Conduct surveys, focus groups, or interviews with potential customers to get direct feedback on their preferences and willingness to purchase.
• Assess suppliers and distributors to determine the best partners for your business in terms of quality, cost, and reliability.
• Examine regulatory requirements to ensure compliance with local, state, and federal laws that may affect your business operations.

Are hardware businesses profitable?

Yes, hardware businesses can be highly profitable. When done properly, hardware businesses can earn a significant return on investment with relatively low overhead costs. Successful hardware businesses typically focus on expensive, high-end products with a large market and strong demand, or on niche products with high margins and loyal customers.

Starting a hardware business requires careful planning and a solid business plan. This document will serve as your roadmap, outlining the strategies for success, financial projections, and the structure of your business. Below is a guide to drafting an effective hardware business plan.

• Begin with an executive summary that encapsulates your business goals, target market, and competitive advantages.
• Define your business structure, including ownership, management team, and operational strategy.
• Conduct a market analysis to understand your competition, identify your customer base, and determine market trends.
• Outline your product line, detailing the types of hardware you will offer, your suppliers, and your inventory management system.
• Develop a marketing and sales strategy that includes pricing, promotions, sales channels, and customer service.
• Provide detailed financial projections, including start-up costs, revenue forecasts, profit and loss estimates, and cash flow analysis.
• Address any regulatory requirements, licensing, and insurance needed to operate legally and safely.
• Include an appendix for supporting documents, such as resumes of the management team, legal agreements, and detailed market research data.

How does a hardware business make money?

Hardware businesses make money by selling tools and supplies to their target customers. For example, a hardware business selling supplies and equipment needed for an air duct cleaning business might target professional residential cleaners and commercial building owners. This hardware store could offer a variety of items such as brushes, vacuums, hoses, seals and special chemicals needed for air duct cleaning. With a wide selection of items available at competitive prices, the store would be able to attract customers looking for quality supplies for their air duct cleaning business.

Creating a strong and recognizable hardware brand is crucial for your business success. It's about more than just a logo; it's about building a reputation for quality, reliability, and innovation that resonates with your target audience. Here's how to develop a hardware brand:

• Define Your Unique Selling Proposition: Identify what makes your hardware products stand out from the competition. Emphasize these features in your branding to attract customers.
• Choose a Memorable Name and Logo: Select a brand name and design a logo that is easy to remember, yet reflects the quality and reliability of your hardware products.
• Establish Brand Values and Personality: Decide on the core values and personality of your brand. Are you innovative, eco-friendly, or customer-centric? Let these values guide your interactions and communications.
• Create a Consistent Visual Identity: Use consistent colors, fonts, and design elements across all marketing materials to create a cohesive look that customers will recognize.
• Promote Your Brand Story: Share the story behind your brand, including the inspiration for starting your hardware business and your vision for the future, to create a personal connection with your customers.
• Engage with Your Audience: Build relationships with your customers through social media, customer service, and community engagement to foster brand loyalty.

How to come up with a name for your hardware business?

Coming up with a name for your hardware business can be exciting yet overwhelming. It is important to consider the overall purpose of your business, what type of hardware you intend to offer, and your target audience when selecting a name. Research existing businesses in the industry, as well as potential names to ensure you don't select something that is already in use. When selecting a memorable and catchy name, try to involve a compelling story or feature of the business within it. Lastly, make sure you research potential trademark issues related to the name prior to finalizing it.

Registering your hardware business is a critical step that will legitimize your venture and enable you to operate legally. This process varies depending on your location, but generally involves a few key steps to ensure that your business is compliant with local laws and regulations. Follow these guidelines to formalize your business registration:

• Choose a unique business name and check its availability with your government's business registry to ensure that it's not already in use.
• Decide on a legal structure for your business (sole proprietorship, partnership, LLC, corporation, etc.) as this will determine your liabilities, tax obligations, and the amount of regulatory paperwork required.
• Obtain an Employer Identification Number (EIN) or the equivalent in your country, which is necessary for tax purposes and to open a business bank account.
• Register your business with the local or state government to get a business license or permit, as required for hardware stores. Check for specific hardware business regulations in your area.
• Consider any additional licenses or permits specific to the hardware industry, such as those related to selling certain types of equipment or handling hazardous materials.
• Keep all registered documents and certifications accessible as you may need to present them for various business activities and banking procedures.

Resources to help get you started:

Explore critical resources designed for hardware entrepreneurs looking for market trends, operational best practices, and strategic business growth tips:

• Crunchbase: A comprehensive platform for discovering industry trends and tracking startups and investments. https://www.crunchbase.com
• CB Insights: Offers in-depth reports and analyses on various sectors, including hardware, to understand market dynamics. https://www.cbinsights.com
• Make: Magazine: Provides a blend of hardware project ideas, DIY guides, and business tips for hardware startups. https://makezine.com
• Hackaday: A community and blog for hardware hackers, offering insights on emerging hardware trends, projects, and tips. https://hackaday.com
• Hardware Massive: A global platform and community for hardware startups featuring events, webinars, and networking opportunities. https://hardwaremassive.com
• The Hardware Startup: Building Your Product, Business, and Brand: A book offering strategic advice on launching a hardware startup, from prototyping to scaling. Available on Amazon.

Starting a hardware business involves navigating through various regulations to ensure compliance with local, state, and federal laws. Acquiring the necessary licenses and permits is a critical step to legally operate your business and avoid any potential fines or legal issues. Below is a guide to help you through this process:

• Research local business licenses: Contact your city or county government to determine the specific business licenses required to operate a hardware store in your area.
• Obtain a sales tax permit: If your state collects sales tax, you will need to register for a sales tax permit with your state's Department of Revenue or equivalent authority.
• Check for specialized permits: Depending on the products you sell, you may need additional permits, such as those for selling hazardous materials or operating heavy machinery.
• Apply for an Employer Identification Number (EIN): If you plan to hire employees, you'll need an EIN from the IRS for tax purposes.
• Ensure zoning compliance: Verify that your business location is zoned for retail and specifically hardware sales.
• Comply with environmental regulations: Hardware stores often deal with chemicals and substances that require adherence to environmental safety standards set by the EPA or state agencies.
• Stay informed about renewals: Keep track of when each license or permit expires and the process for renewal to maintain continuous compliance.

What licenses and permits are needed to run a hardware business?

To run a hardware business, you will need to obtain various types of licenses and permits, such as a business license, zoning permit, tax license, special permits for hazardous materials and air quality, building permit, seller's permit, and health and safety permits. Additionally, depending on the type of products being sold, specialty licenses may be required for things like firearms or flammable materials. It is important to research the specific requirements for your area to ensure that your business is in compliance with all local, state and federal regulations.

Starting a hardware business requires careful financial planning and management. A crucial step in this process is opening a business bank account to keep your personal and business finances separate. Additionally, securing the necessary funding to cover your startup costs and operational expenses is vital for the success of your business. Follow these guidelines:

• Research banks that offer business banking services and compare their account options, fees, and features to find the best fit for your hardware business.
• Prepare the required documentation, which typically includes your business registration papers, EIN (Employer Identification Number), and personal identification.
• Open your business bank account by visiting a branch or completing the process online, depending on the bank's offerings.
• Explore various funding options such as small business loans, lines of credit, investor funding, or crowdfunding platforms to raise the capital needed.
• Prepare a solid business plan to present to potential lenders or investors, highlighting your business model, market analysis, financial projections, and how you intend to use the funds.
• Consider the Small Business Administration (SBA) loans or local grants for new businesses, which might offer more favorable terms for startups.

Establishing the right pricing for hardware services is crucial for the success of your hardware business. It's important to find a balance that reflects the value of your services while staying competitive in the market. Consider the following points as you set your pricing:

• Cost-Plus Pricing: Calculate the total cost of providing your service, including parts and labor, and add a markup percentage to ensure a profit.
• Market Rate Comparison: Research what competitors charge for similar services to ensure your prices are in line with the market.
• Value-Based Pricing: Price your services based on the perceived value to the customer, especially if you offer specialized expertise or benefits.
• Volume Discounts: Consider offering discounts to customers who purchase services in bulk or sign long-term contracts, to encourage larger sales.
• Dynamic Pricing: Be open to adjusting your prices based on demand, seasonal trends, or the introduction of new technologies and services.
• Transparent Pricing: Make sure your pricing structure is clear and understandable to avoid confusion and build trust with customers.

What does it cost to start a hardware business?

Initiating a hardware business can involve substantial financial commitment, the scale of which is significantly influenced by factors such as geographical location, market dynamics, and operational expenses, among others. Nonetheless, our extensive research and hands-on experience have revealed an estimated starting cost of approximately $200000 for launching such an business. Please note, not all of these costs may be necessary to start up your hardware business.

Starting a hardware business requires careful consideration when it comes to acquiring equipment and supplies. It's essential to procure high-quality items that meet your customers' needs while also ensuring cost-effectiveness. Below are key points to guide you through this crucial step:

• Research your market to understand the demand for specific hardware products and identify the most sought-after items.
• Choose reliable suppliers with good track records for quality, delivery, and service. Consider establishing partnerships or accounts with wholesalers for better pricing.
• Consider the balance between cost and quality when purchasing inventory. Higher-quality items may offer better long-term value to your customers.
• Invest in a robust inventory management system to track your stock levels, sales patterns, and reorder times.
• Ensure that your storage facilities are adequate to preserve the quality and integrity of your hardware supplies.
• Include essential tools and machinery for demonstrations, repairs, or value-added services you plan to offer.
• Don't forget about office and operational supplies, such as computers, point-of-sale systems, and office furniture.
• Plan for safety equipment to protect your employees and comply with local regulations.

List of software, tools and supplies needed to start a hardware business:

• Hardware equipment (starting from $500 - $10,000 depending on the size of the business and the type of hardware)
• Toolboxes and hand tools (between $50 -$500)
• Workbenches, tables and chairs (around $200-$1000)
• Software for hardware inventory, sales & ordering ($30-$200/month depending on features)
• Computer hardware (between $500 to $3000)
• Software for client management (around $12-$50/month)
• Wireless internet connection ($25-$150/month depending on provider and speed
• POS system with receipt printer, scanner & credit card reader (around $170 - $1000)
• Office supplies & stationery ($50 -$200 depending on quantity)
• Storage solutions (shelves and filing cabinets) ($50 to $500 depending on size and features)

Securing the right business insurance is a crucial step in protecting your hardware business against unforeseen events. It is essential to understand the different types of insurance available and determine which ones are necessary for your specific business needs. Consider the following points when obtaining business insurance:

• Evaluate the risks associated with your hardware business to identify the types of insurance that are most applicable, such as property insurance, liability insurance, or product liability insurance.
• Consult with a licensed insurance agent who specializes in commercial policies to get professional advice tailored to your industry.
• Compare quotes from multiple insurance providers to find the best coverage options at a competitive price.
• Ensure that your policy covers all essential aspects of your business, including inventory, equipment, and potential business interruptions.
• Review and understand the terms and coverage limits of your policy to make sure you are adequately protected against claims or damages.
• Consider additional coverage options such as cyber liability insurance if your business operations involve online transactions or data storage.
• Keep your insurance policies up to date and review them annually or whenever there are significant changes to your business operations.

Now that your hardware services are ready to be offered to the public, it's crucial to get the word out to your target market. Marketing your services effectively will help you build brand awareness, attract customers, and differentiate your offerings from competitors. Here are some strategies to kickstart your marketing efforts:

• Develop a strong online presence by creating a professional website and engaging on social media platforms where your potential customers are active.
• Offer promotions and discounts to first-time customers to encourage them to try your services.
• Network with local businesses and attend industry events to build relationships and gain referrals.
• Invest in search engine optimization (SEO) to improve your visibility on search engines and attract organic traffic.
• Use targeted advertising through Google Ads, social media ads, or local print media to reach potential customers effectively.
• Collect customer testimonials and reviews to build trust and credibility with potential clients.
• Partner with other businesses that offer complementary services to cross-promote each other and expand your customer base.

Expanding a hardware business is a critical step that requires strategic planning and execution. It's an opportunity to build on existing successes and capture new market segments. Here are some key points to consider as you plan to grow your hardware business:

• Assess Market Demand: Research to identify potential new markets and customer needs that your business can fulfill.
• Diversify Product Lines: Explore expanding your product offerings to include complementary goods or services that align with your brand.
• Invest in Technology: Utilize modern inventory management systems and e-commerce platforms to streamline operations and extend your reach.
• Strengthen Supply Chains: Forge strong relationships with suppliers to ensure reliable delivery and competitive pricing.
• Enhance Marketing Efforts: Increase your marketing budget to raise brand awareness and reach a wider audience. Consider online and offline strategies.
• Expand Sales Channels: Look into opening more physical locations or expanding online sales channels to access new customer bases.
• Optimize Operational Efficiency: Review and improve internal processes to reduce costs and improve customer service.

Sample Hardware Store Business Plan

Do you wish to develop a hardware store business plan?

The success of such a great business idea largely rests on a strategy or plan .

The absence of such a plan is bound to affect the business development. As a crucial tool to business success, we’ve provided a template to follow in writing your hardware store business plan.

HARDWARE STORE BUSINESS PLAN PDF SAMPLE

By following the key sections included you’re able to put in place a streamlined plan of action. Of course, your hardware store business plan needs to be implemented in the letter.

Here, we’ll be discussing all of that and more. We welcome you to read on to find such details.

A Good Hardware Store Business Plan Must have these Sections

Before we go any further, it’s pertinent to provide a framework around which the plan will be written. Here, we’re talking about must-have sections that are key to a good plan.

These include the executive summary, company description, and the products & services sections.

Others are the market analysis, strategy & implementation, organization & management team as well as the financial plan & projection sections.

i. Executive Summary

As a brief introduction and summary of your hardware store business plan, this section should be concise enough to grab the attention of your reader.

Here, you want to give them a reason why they should read through your entire plan.

The executive summary clearly defines whether the business idea is viable or not.

More importantly, it provides an implementable plan of action that is systematically followed. To make it quick and easy to read, your executive summary should have an average of one to four pages.

You want your executive summary to make up about 10% of your entire business plan. Within this section are key subsections such as the business name & location as well as the products & services sections.

Others include the mission & vision statements, and the purpose of the plan.

Business Name & Location

What’s the identity of your hardware store business? Of key importance is the name it will go by. Another detail that needs to be included in its location.

With this information, the reader understands your business from very scratch.

Products & Services

Although there’s a product and services section in the wider plan, this must also be included in your executive summary. Now, only the basics need to be captured here.

For a fuller detail of all products and services offered by your hardware store, the reader will need to read the plan.

You’re expected to have worked out all your hardware store products and/or related services well in advance. This may require research on your part. Ensure the basics are captured under this section.

Mission & Vision

This section explains crucial areas of your plan. The mission and vision statements set the performance standards for your hardware store business plan. What more?

They help provide employees with set goals to attain, thus promoting efficiency.

Your mission statement should be action-oriented in nature.

Here, an explanation of your business’s purpose and what benefits it has for clients is provided. It should also include your business’s goals and its core functions.

Your vision statement should give a vivid mental image of your hardware store business. Here, the image of what you intend to be at some point in the future is provided. This is largely based on your goals and aspirations.

Purpose of the Plan

What’s the purpose of your plan? Every business plan has a purpose and yours shouldn’t be any different.

Whatever it is, it must include set strategies and attract investors.

ii. Company Description

The company description section of your hardware store business plan focuses on key areas such as the legal structure, the business’ history, as well as the needs you intend to meet. What more?

Consider including an overview of products and services and also a company growth summary.

Another detail that must be added is your short and long-term business goals. More importantly, you’ll need to show investors your plans for making a profit.

iii. Products & Services

This was earlier discussed as a subsection under the executive summary.

Here, you’ll need to add all the important details like the description of such services and products. Information on the market role of your products as well as its advantages must be stated.

What’s the life cycle of your hardware products? All relevant information on patents, copyright, or trade secrets should be added. Are new products in the works?

Include information on any or other ongoing developmental activities.

iv. Market Analysis

In this section of your plan, you’ll need to show significant industry knowledge.

This level of understanding largely depends on thorough market research. Here, you’ll be providing a representation or sketch of targeted market segments.

A description of the hardware store industry will also be in order. Its outlook, as well as supporting statistics, are also necessary to gain a fuller and more robust understanding of what your business is about.

Also include information on historical, current, and projected marketing data for services and products.

An assessment of your competitors is also in order. Here, you’re looking at their strengths as well as weaknesses.

v. Strategy & Implementation

With the help of an operating plan, you’re able to implement your sales and marketing strategy.

Under this section, you’re looking at costing details, pricing, promotion as well as distribution or logistics. Your strategy and implementation section must also provide promotion details and how your products will enter the market.

How will your hardware store business function? Include details on labor sources as well as the number of employees.

vi. Organization & Management Team

This is the bedrock upon which every business is structured.

Your hardware store business will need an efficient management team in place. Provide details on this by including an organizational chart with key employees highlighted.

There should be additional information on owners, their names, percentage ownership, as well the extent of their involvement. Include a profile of your management team with names, positions, responsibilities, and experience provided.

vii. Financial Plan & Projections

The financial plan and projections section is a crucial component of your hardware store business plan. Here, the help of a financial expert such as a professional accountant is needed.

Details to include are the historical financial data with balance sheets, income statements, and cash flow statements spanning the past three to five years.

There should be realistic prospective financial data. This includes balance sheets, forecasted income statements, cash flow statements, and capital expenditure.

With all of these key sections and details included in your hardware store business plan, your chances for success are greatly improved.

Leave a Comment Cancel Reply

Your email address will not be published. Required fields are marked *

404 Not found

Hardware Store Business Plan

This is a free, printable business plan outlining the necessary services, organization and market strategies for hardware store owners and those working in the retail sector.

Sample text from Hardware Store Business Plan:

1.0 Executive Summary

[COMPANY NAME] will be a sole proprietorship owned by [NAME]. The Company is a start-up as [NAME] will purchase the rights to the existing location for $75,000. Upon purchase of the rights, the Company will demolish the existing structure and build a new State of the Art hardware store.

[COMPANY NAME] will be a standard general hardware store that offers the parts, material, and advice to tackle any home repair, as well as lawn care. The primary focus will be to satisfy the seasonal needs of the area's customers.

The Company will service the hardware and repair needs of the [COUNTY], [COUNTY], [COUNTY] and [COUNTY] County households. The Company would like to increase sales in all market segments above with a concentration of growth in sales to homeowners who do their own repairs.

The focus of this business plan is to put forth objectives to launch operations, work efficiently and effectively, and expand internal operations giving the Company the opportunity to grow with sales growth in the surrounding County areas. [COMPANY NAME] is ready to elevate to the next step. The Company is seeking grant funding in the amount of $600,000. The grant funding will be used to launch operations including purchasing the existing land & business, construction of a new Building and purchasing equipment and displays for the store. Additionally, the Company will purchase the opening inventory, develop a website and launch an advertising campaign.

1.1 Objectives

[COMPANY NAME] has the following objectives.

1. Obtain Grant funding to purchase an existing hardware store and rebuild the retail space.

2. Customer Service - Give our customers the highest quality product and service at a fair competitive price.

3. To create a safe environment for people in the community to come for their hardware store needs.

4. To provide jobs within the community.

5. To successfully manage a hardware store.

1.2 Mission

The mission of [COMPANY NAME] is to offer quality hardware products in a customer-friendly shopping environment. Our customers will get assistance quickly and will leave the store prepared to get the job done right the first time. [COMPANY NAME] will also focus on anticipating the seasonal needs of its customers and providing the best products at competitive prices.

1.3 Keys to Success

The keys to success for [COMPANY NAME] are:

1. Location: [COMPANY NAME] will be assuming ownership of an existing hardware store. The Company plans to demolish the existing building and build a new State of the Art hardware store. We will have an existing base of customers.

2. Seasonal Products: Each season has it own unique demand on a homeowner. [COMPANY NAME] will focus on this pattern and bring in local customers by marketing these items at competitive prices.

3. Repair/Project Resource Area: The first section customers will find when they enter is a repair/project resource area that they can use to plan repairs or projects. There will be a repair/project resource person to answer questions and direct them to the section of store where the needed products are.

4. In-Store Expertise: Store employees will be knowledgeable in home repairs/projects. In addition, the repair/project resource area will be used to conduct short trainings and demonstrations in home repair and home projects.

People who printed this template also printed...

DISCLAIMER: The business plans, templates, and articles contained on BusinessPlanTemplate.net are not to be considered as legal advice. All content is for informational purposes, and Savetz Publishing makes no claim as to accuracy, legality or suitability. The site owner shall not be held liable for any errors, omissions or for damages of any kind.

Copyright © 2011-2024 by Savetz Publishing , Inc. Contact us . Privacy Policy .

Subscribe to the Free Printable newsletter. (No spam, ever!)

This template is easy to download and print. Each free business plan template is available in Microsoft Word (DOC) format, and many of the Business Plan Forms are available in Excel (XLS) format as well. Just choose a business plan template and download it. Open it in Word or Excel (or another program that can display the DOC or XLS format), edit it, and print your personalized business plan.

Collections of business forms are now available as convenient all-in-one downloads. There's a Start-Up collection that’s ideal for new businesses, or choose from: Budget , Theater , Restaurant , Sales , Inventory , Human Resources , Agriculture , Church , Auto , or Real Estate . Each collection is just $27.

Business Plan Forms

General Business Plans

Business Plans for Specific Industries

Business Plan Articles

Business Form Theme Packs

Newest Additions

Search All Business Plan Templates

Search all templates for:

Thank you for your suggestion.

We're always adding new printables, and would love to hear your suggestions. What are we missing?

Submit Suggestion    Close

How to write a business plan for a diy and hardware store?

Writing a business plan for a diy and hardware store can be an intimidating task, especially for those just starting.

This in-depth guide is designed to help entrepreneurs like you understand how to create a comprehensive business plan so that you can approach the exercise with method and confidence.

We'll cover: why writing a diy and hardware store business plan is so important - both when starting up, and when running and growing the business - what information you need to include in your plan, how it should be structured, and what tools you can use to get the job done efficiently.

Let's get started!

In this guide:

Why write a business plan for a diy and hardware store?

• What information is needed to create a business plan for a diy and hardware store?
• What goes in the financial forecast for a diy and hardware store?
• What goes in the written part of a diy and hardware store business plan?
• What tool can I use to write my diy and hardware store business plan?

Having a clear understanding of why you want to write a business plan for your diy and hardware store will make it simpler for you to grasp the rationale behind its structure and content. So before delving into the plan's actual details, let's take a moment to remind ourselves of the primary reasons why you'd want to create a diy and hardware store business plan.

To have a clear roadmap to grow the business

Small businesses rarely experience a constant and predictable environment. Economic cycles go up and down, while the business landscape is mutating constantly with new regulations, technologies, competitors, and consumer behaviours emerging when we least expect it.

In this dynamic context, it's essential to have a clear roadmap for your diy and hardware store. Otherwise, you are navigating in the dark which is dangerous given that - as a business owner - your capital is at risk.

That's why crafting a well-thought-out business plan is crucial to ensure the long-term success and sustainability of your venture.

To create an effective business plan, you'll need to take a step-by-step approach. First, you'll have to assess your current position (if you're already in business), and then identify where you'd like your diy and hardware store to be in the next three to five years.

Once you have a clear destination for your diy and hardware store, you'll focus on three key areas:

• Resources: you'll determine the human, equipment, and capital resources needed to reach your goals successfully.
• Speed: you'll establish the optimal pace at which your business needs to grow if it is to meet its objectives within the desired timeframe.
• Risks: you'll identify and address potential risks you might encounter along the way.

By going through this process regularly, you'll be able to make informed decisions about resource allocation, paving the way for the long-term success of your business.

To maintain visibility on future cash flows

Businesses can go for years without making a profit, but they go bust as soon as they run out of cash. That's why "cash is king", and maintaining visibility on your diy and hardware store's future cash flows is critical.

How do I do that? That's simple: you need an up-to-date financial forecast.

The good news is that your diy and hardware store business plan already contains a financial forecast (more on that later in this guide), so all you have to do is to keep it up-to-date.

To do this, you need to regularly compare the actual financial performance of your business to what was planned in your financial forecast, and adjust the forecast based on the current trajectory of your business.

Monitoring your diy and hardware store's financial health will enable you to identify potential financial problems (such as an unexpected cash shortfall) early and to put in place corrective measures. It will also allow you to detect and capitalize on potential growth opportunities (higher demand from a given segment of customers for example).

To secure financing

A detailed business plan becomes a crucial tool when seeking financing from banks or investors for your diy and hardware store.

Investing and lending to small businesses are very risky activities given how fragile they are. Therefore, financiers have to take extra precautions before putting their capital at risk.

At a minimum, financiers will want to ensure that you have a clear roadmap and a solid understanding of your future cash flows (like we just explained above). But they will also want to ensure that your business plan fits the risk/reward profile they seek.

This will off-course vary from bank to bank and investor to investor, but as a rule of thumb. Banks will want to see a conservative financial management style (low risk), and they will use the information in your business plan to assess your borrowing capacity — the level of debt they think your business can comfortably handle — and your ability to repay the loan. This evaluation will determine whether they'll provide credit to your diy and hardware store and the terms of the agreement.

Whereas investors will carefully analyze your business plan to gauge the potential return on their investment. Their focus lies on evidence indicating your diy and hardware store's potential for high growth, profitability, and consistent cash flow generation over time.

Now that you recognize the importance of creating a business plan for your diy and hardware store, let's explore what information is required to create a compelling plan.

Information needed to create a business plan for a diy and hardware store

You need the right data in order to project sales, investments and costs accurately in the financial forecast of your diy and hardware store business plan.

Below, we'll cover three key pieces of information you should gather before drafting your business plan.

Carrying out market research for a diy and hardware store

As you consider writing your business plan for a diy and hardware store, conducting market research becomes a vital step to ensure accurate and realistic financial projections.

Market research provides valuable insights into your target customer base, competitors, pricing strategies, and other key factors that can significantly impact the commercial success of your business.

Through this research, you may uncover trends that could influence your diy and hardware store.

You might find that customers may be seeking out DIY and hardware products that are environmentally friendly. Additionally, customers might be looking for convenience when it comes to their DIY and hardware purchases, such as products that are easy to install or use.

Such market trends play a significant role in forecasting revenue, as they offer valuable data about potential customers' spending habits and preferences.

By incorporating these findings into your financial projections, you can present investors with more accurate information, helping them make informed decisions about investing in your diy and hardware store.

Developing the marketing plan for a diy and hardware store

Before delving into your diy and hardware store business plan, it's imperative to budget for sales and marketing expenses.

To achieve this, a comprehensive sales and marketing plan is essential. This plan should provide an accurate projection of the necessary actions to acquire and retain customers.

Additionally, it will outline the required workforce to carry out these initiatives and the corresponding budget for promotions, advertising, and other marketing endeavours.

By budgeting accordingly, you can ensure that the right resources are allocated to these vital activities, aligning them with the sales and growth objectives outlined in your business plan.

The staffing and equipment needs of a diy and hardware store

Whether you are at the beginning stages of your diy and hardware store or expanding its horizons, having a clear plan for recruitment and capital expenditures (investment in equipment and real estate) is vital to ensure your business's success.

To achieve this, both the recruitment and investment plans must align coherently with the projected timing and level of growth in your forecast. It is essential to secure appropriate funding for these plans.

A diy and hardware store might incur staffing costs such as salaries for employees, benefits, and payroll taxes. They may also need to purchase equipment such as point-of-sale systems, computers, and payment processing systems. Additionally, they may need to purchase inventory such as tools, hardware, and other supplies.

To create a financial forecast that accurately represents your business's outlook, remember to factor in other day-to-day operating expenses.

Now that you have all the necessary information, it's time to dive in and start creating your business plan and developing the financial forecast for your diy and hardware store.

What goes into your diy and hardware store's financial forecast?

The financial forecast of your diy and hardware store's business plan will enable you to assess the growth, profitability, funding requirements, and cash generation potential of your business in the coming years.

The four key outputs of a financial forecast for a diy and hardware store are:

• The profit and loss (P&L) statement ,
• The projected balance sheet ,
• The cash flow forecast ,
• And the sources and uses table .

Let's look at each of these in a bit more detail.

The projected P&L statement

The projected P&L statement for a diy and hardware store shows how much revenue and profit your business is expected to make in the future.

A healthy diy and hardware store's P&L statement should show:

• Sales growing at (minimum) or above (better) inflation
• Stable (minimum) or expanding (better) profit margins
• A healthy level of net profitability

This will of course depend on the stage of your business: numbers for a startup will look different than for an established diy and hardware store.

The projected balance sheet of your diy and hardware store

The balance sheet for a diy and hardware store is a financial document that provides a snapshot of your business’s financial health at a given point in time.

It shows three main components: assets, liabilities and equity:

• Assets: are resources owned by the business, such as cash, equipment, and accounts receivable (money owed by clients).
• Liabilities: are debts owed to creditors and other entities, such as accounts payable (money owed to suppliers) and loans.
• Equity: includes the sums invested by the shareholders or business owners and the cumulative profits and losses of the business to date (called retained earnings). It is a proxy for the value of the owner's stake in the business.

Examining the balance sheet is important for lenders, investors, or other stakeholders who are interested in assessing your diy and hardware store's liquidity and solvency:

• Liquidity: assesses whether or not your business has sufficient cash and short-term assets to honour its liabilities due over the next 12 months. It is a short-term focus.
• Solvency: assesses whether or not your business has the capacity to repay its debt over the medium-term.

Looking at the balance sheet can also provide insights into your diy and hardware store's investment and financing policies.

In particular, stakeholders can compare the value of equity to the value of the outstanding financial debt to assess how the business is funded and what level of financial risk has been taken by the owners (financial debt is riskier because it has to be repaid, while equity doesn't need to be repaid).

The projected cash flow statement

A cash flow forecast for a diy and hardware store shows how much cash the business is projected to generate or consume.

The cash flow statement is divided into 3 main areas:

• The operating cash flow shows how much cash is generated or consumed by the operations (running the business)
• The investing cash flow shows how much cash is being invested in capital expenditure (equipment, real estate, etc.)
• The financing cash flow shows how much cash is raised or distributed to investors and lenders

Looking at the cash flow forecast helps you to ensure that your business has enough cash to keep running, and can help you anticipate potential cash shortfalls.

It is also a best practice to include a monthly cash flow statement in the appendices of your diy and hardware store business plan so that the readers can view the impact of seasonality on your business cash position and generation.

The initial financing plan

The initial financing plan - also called a sources and uses table - is an important tool when starting a diy and hardware store.

It shows where the money needed to set up the business will come from (sources) and how it will be allocated (uses).

Having this table helps understand what costs are involved in setting up the diy and hardware store, how the risks are distributed between the shareholders and the lenders, and what will be the starting cash position (which needs to be sufficient to sustain operations until the business breaks even).

Now that the financial forecast of a diy and hardware store business plan is understood, let's focus on what goes into the written part of the plan.

The written part of a diy and hardware store business plan

The written part of a diy and hardware store business plan plays a key role: it lays out the plan of action you intend to execute to seize the commercial opportunity you've identified on the market and provides the context needed for the reader to decide if they believe your plan to be achievable and your financial forecast to be realistic.

The written part of a diy and hardware store business plan is composed of 7 main sections:

• The executive summary
• The presentation of the company
• The products and services
• The market analysis
• The strategy
• The operations
• The financial plan

Let's go through the content of each section in more detail!

1. The executive summary

In your diy and hardware store's business plan, the first section is the executive summary — a captivating overview of your plan that aims to pique the reader's interest and leave them eager to learn more about your business.

When crafting the executive summary, start with an introduction to your business, including its name, concept, location, how long it has been running, and what sets it apart. Briefly mention the products and services you plan to offer and your target customer profile.

Following that, provide an overview of the addressable market for your diy and hardware store, current trends, and potential growth opportunities.

Next, include a summary of key financial figures like projected revenues, profits, and cash flows.

Finally, in the "ask" section, detail any funding requirements you may have.

2. The presentation of the company

In your diy and hardware store business plan, the second section should focus on the structure and ownership, location, and management team of your company.

In the structure and ownership part, you'll provide an overview of the business's legal structure, details about the owners, and their respective investments and ownership shares. This clarity is crucial, especially if you're seeking financing, as it helps the reader understand which legal entity will receive the funds and who controls the business.

Moving on to the location part, you'll offer an overview of the company's premises and their surroundings. Explain why this particular location is of interest, highlighting factors like catchment area, accessibility, and nearby amenities.

When describing the location of your diy and hardware store, you could highlight its accessibility to potential customers. You might point out that it is located in a busy area, with easy access to major roads and highways. You could also emphasize the potential for growth and development in the surrounding area. Additionally, you may note the potential for increased foot traffic due to the presence of other businesses in the vicinity. In addition, you could highlight the benefits of its location such as nearby parking, easy access to public transportation, and its proximity to other local businesses. Ultimately, you could emphasize the potential for your diy and hardware store to become a successful venture in the area.

Finally, you should introduce your management team. Describe each member's role, background, and experience.

Don't forget to emphasize any past successes achieved by the management team and how long they've been working together. Demonstrating their track record and teamwork will help potential lenders or investors gain confidence in their leadership and ability to execute the business plan.

3. The products and services section

The products and services section of your business plan should include a detailed description of the offerings that your company provides to its customers. 

For example, your diy and hardware store could offer customer service for specialized projects, such as installation services for products like ceiling fans and window treatments. It could also provide a range of materials for do-it-yourself projects, like paint, tools, and lumber. Finally, the store could offer a variety of home improvement classes, such as basic carpentry, electrical work, and plumbing. These services and products could help customers complete their projects with the right materials and knowledge, providing them with a finished product that meets their needs and expectations.

When drafting this section, you should be precise about the categories of products or services you sell, the types of customers you are targeting and how customers can buy them.

4. The market analysis

When outlining your market analysis in the diy and hardware store business plan, it's essential to include comprehensive details about customers' demographics and segmentation, target market, competition, barriers to entry, and relevant regulations.

The primary aim of this section is to give the reader an understanding of the market size and appeal while demonstrating your expertise in the industry.

To begin, delve into the demographics and segmentation subsection, providing an overview of the addressable market for your diy and hardware store, key marketplace trends, and introducing various customer segments and their preferences in terms of purchasing habits and budgets.

Next, shift your focus to the target market subsection, where you can zoom in on the specific customer segments your diy and hardware store targets. Explain how your products and services are tailored to meet the unique needs of these customers.

For example, your target market might include homeowners who are passionate about DIY projects. These homeowners are looking for high-quality tools and materials to complete their projects. They typically have a budget to invest in the necessary equipment, and they want to buy from a trusted supplier.

In the competition subsection, introduce your main competitors and explain what sets your diy and hardware store apart from them.

Finally, round off your market analysis by providing an overview of the main regulations that apply to your diy and hardware store.

5. The strategy section

When writing the strategy section of a business plan for your diy and hardware store, it is essential to include information about your competitive edge, pricing strategy, sales & marketing plan, milestones, and risks and mitigants.

The competitive edge subsection should explain what sets your company apart from its competitors. This part is especially key if you are writing the business plan of a startup, as you have to make a name for yourself in the marketplace against established players.

The pricing strategy subsection should demonstrate how you intend to remain profitable while still offering competitive prices to your customers.

The sales & marketing plan should outline how you intend to reach out and acquire new customers, as well as retain existing ones with loyalty programs or special offers. 

The milestones subsection should outline what your company has achieved to date, and its main objectives for the years to come - along with dates so that everyone involved has clear expectations of when progress can be expected.

The risks and mitigants subsection should list the main risks that jeopardize the execution of your plan and explain what measures you have taken to minimize these. This is essential in order for investors or lenders to feel secure in investing in your venture.

Your DIY and hardware store faces a variety of risks. For example, you could encounter financial losses due to stock theft or shoplifting. Such occurrences may lead to a decrease in profits, making it difficult to stay in business. Additionally, your store could also be at risk of property damage. Natural disasters like floods, hurricanes, or earthquakes could lead to significant losses if your store’s building or its contents are damaged. It is important to remain vigilant and take steps to mitigate these potential risks.

6. The operations section

In your business plan, it's also essential to provide a detailed overview of the operations of your diy and hardware store.

Start by covering your team, highlighting key roles and your recruitment plan to support the expected growth. Outline the qualifications and experience required for each role and your intended recruitment methods, whether through job boards, referrals, or headhunters.

Next, clearly state your diy and hardware store's operating hours, allowing the reader to assess staffing levels adequately. Additionally, mention any plans for varying opening times during peak seasons and how you'll handle customer queries outside normal operating hours.

Then, shift your focus to the key assets and intellectual property (IP) necessary for your business. If you rely on licenses, trademarks, physical structures like equipment or property, or lease agreements, make sure to include them in this section.

You may have key assets such as the physical location of the store, and any products that you sell. Additionally, you could have intellectual property such as any logos, slogans, or designs that you have created. These might be used to create brand recognition and loyalty among your customers.

Lastly, include a list of suppliers you plan to work with, detailing their services and main commercial terms, such as price, payment terms, and contract duration. Investors are interested in understanding why you've chosen specific suppliers, which may be due to higher-quality products or established relationships from previous ventures.

7. The presentation of the financial plan

The financial plan section is where we will include the financial forecast we talked about earlier in this guide.

Now that you have a clear idea of the content of a diy and hardware store business plan, let's look at some of the tools you can use to create yours.

What tool should I use to write my diy and hardware store's business plan?

In this section, we will be reviewing the two main options for writing a diy and hardware store business plan efficiently:

• Using specialized software,
• Outsourcing the drafting to the business plan writer.

Using an online business plan software for your diy and hardware store's business plan

Using online business planning software is the most efficient and modern way to write a diy and hardware store business plan.

There are several advantages to using specialized software:

• You can easily create your financial forecast by letting the software take care of the financial calculations for you without errors
• You are guided through the writing process by detailed instructions and examples for each part of the plan
• You can access a library of dozens of complete business plan samples and templates for inspiration
• You get a professional business plan, formatted and ready to be sent to your bank or investors
• You can easily track your actual financial performance against your financial forecast
• You can create scenarios to stress test your forecast's main assumptions
• You can easily update your forecast as time goes by to maintain visibility on future cash flows
• You have a friendly support team on standby to assist you when you are stuck

If you're interested in using this type of solution, you can try The Business Plan Shop for free by signing up here .

Hiring a business plan writer to write your diy and hardware store's business plan

Outsourcing your diy and hardware store business plan to a business plan writer can also be a viable option.

Business plan writers are experienced in writing business plans and adept at creating financial forecasts without errors. Furthermore, hiring a consultant can save you time and allow you to focus on the day-to-day operations of your business.

However, hiring business plan writers is expensive as you are paying for the software used by the consultant, plus their time, and their profit margin of course.

From experience, you need to budget at least £1.5k ($2.0k) excluding tax for a complete business plan, more if you need to make changes after the initial version (which happens frequently after the initial meetings with lenders or investors).

You also need to be careful when seeking investment. Investors want their money to be used to grow the business, not spent on consulting fees. Therefore, the amount you spend on business plan writing services (and other consulting services such as legal services) needs to be negligible relative to the amount raised.

The other drawback is that you usually don't own the business plan itself: you just get the output, while the actual document is saved in the consultant's business plan software - which makes it difficult to maintain the document up to date without hiring the consultant on a retainer.

For these reasons, outsourcing the diy and hardware store business plan to a business plan writer should be considered carefully, weighing both the advantages and disadvantages of hiring outside help.

Ultimately, it may be the right decision for some businesses, while others may find it beneficial to write their business plan using online software.

Why not create your diy and hardware store's business plan using Word or Excel?

I must advise against using Microsoft Excel and Word (or their Google, Apple, or open-source equivalents) to write your diy and hardware store business plan. Let me explain why.

Firstly, creating an accurate and error-free financial forecast on Excel (or any spreadsheet) is highly technical and requires a strong grasp of accounting principles and financial modelling skills. It is, therefore, unlikely that anyone will fully trust your numbers unless you have both a degree in finance and accounting and significant financial modelling experience, like us at The Business Plan Shop.

Secondly, relying on spreadsheets is inefficient. While it may have been the only option in the past, technology has advanced significantly, and software can now perform these tasks much faster and with greater accuracy. With the rise of AI, software can even help us detect mistakes in forecasts and analyze the numbers for better decision-making.

And with the rise of AI, software is also becoming smarter at helping us detect mistakes in our forecasts and helping us analyse the numbers to make better decisions.

Moreover, software makes it easier to compare actuals versus forecasts and maintain up-to-date forecasts to keep visibility on future cash flows, as we discussed earlier in this guide. This task is cumbersome when using spreadsheets.

Now, let's talk about the written part of your diy and hardware store business plan. While it may be less error-prone, using software can bring tremendous gains in productivity. Word processors, for example, lack instructions and examples for each part of your business plan. They also won't automatically update your numbers when changes occur in your forecast, and they don't handle formatting for you.

Overall, while Word or Excel may seem viable for some entrepreneurs to create a business plan, it's by far becoming an antiquated way of doing things.

• A business plan has 2 complementary parts: a financial forecast showcasing the expected growth, profits and cash flows of the business; and a written part which provides the context needed to judge if the forecast is realistic and relevant.
• Having an up-to-date business plan is the only way to keep visibility on your diy and hardware store's future cash flows.
• Using business plan software is the modern way of writing and maintaining business plans.

We hope that this practical guide gave you insights on how to write the business plan for your diy and hardware store. Do not hesitate to get in touch with our team if you still have questions.

Also on The Business Plan Shop

• In-depth business plan structure
• Key steps to write a business plan?
• Free business plan template

Know someone who owns or wants to start a diy and hardware store? Share this article with them!

Founder & CEO at The Business Plan Shop Ltd

Guillaume Le Brouster is a seasoned entrepreneur and financier.

Guillaume has been an entrepreneur for more than a decade and has first-hand experience of starting, running, and growing a successful business.

Prior to being a business owner, Guillaume worked in investment banking and private equity, where he spent most of his time creating complex financial forecasts, writing business plans, and analysing financial statements to make financing and investment decisions.

Guillaume holds a Master's Degree in Finance from ESCP Business School and a Bachelor of Science in Business & Management from Paris Dauphine University.

Create a convincing business plan

Assess the profitability of your business idea and create a persuasive business plan to pitch to investors

500,000+ entrepreneurs have already tried our solution - why not join them?

Not ready to try our on-line tool ? Learn more about our solution here

Need some inspiration for your business plan?

Subscribe to The Business Plan Shop and gain access to our business plan template library.

Need a professional business plan? Discover our solution

Write your business plan with ease!

It's easy to create a professional business plan with The Business Plan Shop

Want to find out more before you try? Learn more about our solution here

• Business Plan for Investors
• Bank/SBA Business Plan
• Operational/Strategic Planning Services
• L1 Visa Business Plan
• E1 Treaty Trader Visa Business Plan
• E2 Treaty Investor Visa Business Plan
• EB-1 Business Plan
• EB-2 NIW Business Plan
• EB-5 Business Plan
• Innovator Founder Visa Business Plan
• Start-Up Visa Business Plan
• Expansion Worker Visa Business Plan
• Manitoba MPNP Visa Business Plan
• Nova Scotia NSNP Visa Business Plan
• British Columbia BC PNP Visa Business Plan
• Self-Employed Visa Business Plan
• OINP Entrepreneur Stream Business Plan
• LMIA Owner Operator Business Plan
• ICT Work Permit Business Plan
• LMIA Mobility Program – C11 Entrepreneur Business Plan
• USMCA (ex-NAFTA) Business Plan

Franchise Business Plan

• Landlord business plan
• Nonprofit Start-Up Business Plan
• USDA Business Plan
• Cannabis business plan
• Ecommerce business plan
• Online boutique business plan
• Mobile application business plan
• Daycare business plan
• Restaurant business plan
• Food delivery business plan
• Real estate business plan
• Business Continuity Plan
• Pitch Deck Consulting Services
• Financial Due Diligence Services
• ICO whitepaper
• ICO consulting services
• Confidential Information Memorandum
• Private Placement Memorandum
• Feasibility study
• Fractional CFO
• How it works
• Business Plan Examples

Hardware Retail Franchise Business Plan Sample

AUG.09, 2022

Hardware retail franchise business plan for starting your own business

Whether it be a technological thing such as a computer or a purely natural setting such as a garden, hardware installation is a must. In addition to the usage of big hardware tools, smaller ones like miniature screwdrivers are also increasing in demand. And the demand for sophisticated hardware and tools is expected to increase even more.

So, if you are wondering whether or not you should open a hardware store with franchise, you should keep all the worries aside and read this blog. In this business plan we will be listing all the details of Sam Hardware World, a hardware retail franchise in New York City. It will help you in knowing how to set up a hardware business in the United States. 

Moreover, the financial part would give you an insight into the profits you can earn via it. You could also discover whether or not you need to also consult business plan for loan to launch the startup.

Executive Summary

2.1 the business.

Sam Hardware World will be based in New York City. The business will operate in both B2B and B2C modes. The startup aims at providing hardware for setting ranging from technological to household to business offices.

2.2 Management of hardware retail franchise business

To manage hardware retail the first step is to create a business plan for a hardware store . In that business plan you must enlist all the equipment to be procured and personnel you must staff to manage the operations. Since the business activity overlaps with other businesses as well, you will need to consult retail discount store business plan and toy business plan as well besides the hardware retail franchise business plan.

In this sample business plan for a hardware franchise, we’ll explain how Sam conducted and managed his business. Since he underwent the procedure to get a franchise, you can also see this if you need to study a business plan for a franchise .

2.3 Customers of hardware retail franchise business

Knowing the customers before starting a business will help you in understanding their demands, likes, and purchasing power. The customers of the hardware retail franchise business are:

• Construction Enterprises
• Educational Institutes

2.4 Business Target

Sam Hardware World aims at boosting sales at a specified rate after regular intervals that will be mentioned later in this sample. The financial targets for the first three years are given in this graph:

Company Summary

3.1 company owner.

Sam has acquired a degree in management sciences. After working as a business consultant in a tech firm for two years, he decided to capitalize on hardware store franchise opportunities.

3.2 Why the hardware retail franchise business is being started

Sam started the hardware shop business to benefit from the perks of doing one’s own business. He had unique hardware business ideas thus he decided to step only into this type of enterprise.

3.3 How the hardware retail franchise business will be started

Step1: Conduct Research

The first step is to research the types of hardware businesses with a special focus on franchise hardware stores. You must search for hardware store franchises for sale and select the best among them.

Step2: Make Hardware Business Plan

Next, you will have to devise a hardware shop business plan to ensure you systematically carry out the operations of your business. In your business plan for hardware shop, you should enumerate in detail the executive plan, marketing plan, sales strategy, and financial plan.

Step3: Set up the Hardware Store

In the next stage, you must acquire the place where you would be installing your setup. While procuring the equipment, it is equally important to start recruiting talent.

Step4: Market & Establish a Web Presence

To reach your target customers, you will need to exploit the media platforms and websites to get renowned.

Step5: Manage Finance

Last, you will have to create balance sheets for cost analysis and determining prospective profits.

Services of hardware retail franchise business

If you are thinking of starting a hardware business you must want to know are hardware stores profitable? Well, running a store can be extremely profitable provided you have some unique ideas. To get them, you should search for how to start a hardware business or how to start a store, mark your location, and analyze what others in the domain are doing. Your prospects will depend on your research on potential localities and selecting the right one for launching your franchise hardware store.

• Technical Hardware Products

Our major products will be hardware related to technology use such as computers and components, input and output devices, mobile parts and accessories, etc.

• Construction Hardware

The second category of our products will include hardware that is needed during construction projects.

• Garden Décor & Hardware 

We’ll also provide hardware that is generally needed by households and institutions to set up the deck, or do landscaping. 

• General Tools

We’ll also provide hardware tools that are required for minor and major repairs.

Marketing Analysis of hardware retail franchise business

Before you open a hardware store you must undergo a thorough analysis of all the available markets and explore hardware store franchise opportunities related to each market. It is to first, determine your customer groups, and second, identify the market trends and the price you can set provided your financial targets. The rates of your competitors in retail store hardware businesses and purchasing power of your target customers should also be catered to in the analysis.

excellent work

excellent work, competent advice. Alex is very friendly, great communication. 100% I recommend CGS capital. Thank you so much for your hard work!

Considering the importance of accurate marketing analysis in the business plan, you should hire a marketing expert. However, for a rough idea, you can search on your own on how to start a hardware company and the best locations to open a hardware franchise. 

In this hardware shop business plan pdf we are providing the details of Sam Hardware World. 

5.1 Market Trends

According to IBISWorld, nearly 15k hardware stores are running successfully in the United States. If you go through the hardware store financial district and some hardware retailing magazines you can see that the market size has reached $36 billion in the US alone. Therefore, the market trends are going right and you should not worry about the prospects if you completely understand how to start a hardware store and conduct it. Source – https://www.ibisworld.com/united-states/market-research-reports/hardware-stores-industry/#IndustryStatisticsAndTrends

5.2 Marketing Segmentation

In this section, you should divide the whole population into distinct groups of your target customers. Since the customer groups of hardware stores overlap with other businesses, you can take help from business plan for video game store as well as business plan for farmers market .

5.2.1 Construction Enterprises

Our biggest group of customers will belong to the construction enterprise. They are expected to procure our hardware specified for their work as well as the general tools that are needed for generic tasks.

5.2.2 Offices

The second category of our target customers will be the offices. They will avail of our services and products mainly for setting up the office spaces. The products they would need would range from printers and computers to electronics.

5.2.3 Households

The third category of our target customers comprises households who will need all of our products but in a minor number. Their purchases can be related to technological items as well as garden & yard tools.

5.2.4 Educational Institutes

Educational institutes will also be a group of our target customers as they will be needing the same products that are demanded by offices and households.

5.3 Business Target

The business targets of Sam Hardware World are:

• Attaining a CSAT score of more than 90% within a year of our launch
• Expand the product line by the end of the first year

5.4 Product Pricing

For the first year, we aim at keeping our prices lower than that of our competitors. Afterward, we’ll bring them in the same range as theirs.

Marketing Strategy of hardware retail franchise business

If you are looking for a marketing plan, you have landed on the right page. In this business plan sample, we’re providing a detailed business plan for Sam Hardware World.

6.1 Competitive Analysis

• Our location is ideal for a hardware store. It is because we have several colleges, offices, and small businesses in our vicinity. In addition, the residential community is also not far away.
• We will be offering discounts to construction managers so that they procure the hardware from us and come into a long-term partnership.
• Our strategy to keep prices low during the first year will benefit us in reaching out to the target customers.

6.2 Sales Strategy

In this sample business plan for a hardware franchise, we are giving the sales strategy of Sam Hardware World. However, for more ideas you may also want to visit business plan for a stationery and vape shop business plan .

• We will offer small hardware products as gifts with large purchases.
• We will run social media campaigns to get known to a wider audience.
• We will offer a 20% discount to customers who enter into a long-term partnership with us.

6.3 Sales Monthly

6.4 Sales Yearly

6.5 Sales Forecast

Personnel plan of hardware retail franchise business

If you’re looking for how to start a hardware business , you must know that hiring the right people for the right job is of utmost importance. Owing to its significance, you must include the list of required people along with their job descriptions in a business plan in any format. This will enable you to select the most talented individuals for opening a hardware store with a franchise. 

7.1 Company Staff

Sam will be the CEO. He will need the following people for available positions:

• 2 Sales Managers to manage hardware sales in different domains
• 1 Accountant to maintain financial record
• 1 Social Media Manager to manage online platforms
• 1 Store Operator to manage the inventory
• 1 Customer Care Executive to maintain contracts with long-term customers
• 1 Cleaner to maintain the facility
• 3 Drivers to procure and transport inventory to and from sites

7.2 Average Salary of Employees

Financial plan of hardware retail franchise business.

You may be starting a business out of passion, but you would want to know how much profit can anyone make after they open hardware stores. Practically, hardware stores earn a lot. If the business operations and financial flows are managed then the business can yield immense profit.

To ensure that the finances go as projected, you must make a comprehensive financial plan for your business. That should include the break-even analysis, projected profits on a monthly and yearly basis for at least the first three years, gross margin calculations, balance sheet, and business ratios.

In this retail business plan we are providing the financial plan of Sam Hardware World.

8.1 Important Assumptions

8.2 break-even analysis.

8.3 Projected Profit and Loss

8.3.1 profit monthly.

8.3.2 Profit Yearly

8.3.3 Gross Margin Monthly

8.3.4 Gross Margin Yearly

8.4 Projected Cash Flow

8.5 Projected Balance Sheet

8.6 business ratios.

How profitable is a hardware store?

As you can see from the financial part of this hardware retail franchise business plan in pdf, the hardware store can be immensely profitable if you provide unique services. If you have competitive advantages, that would be a plus.

How do I start my own hardware business?

If you are looking for how to set up a hardware store you must study at least one sample hardware retail franchise business plan. The first step is doing research and the second is documenting a detailed business plan. 

Is a hardware store a good investment?

Owning a hardware store is the best investment you can make. It is because setting up and running a hardware store is not much difficult. You can make profits right after starting a hardware store.

Download Hardware Retail Franchise Business Plan Sample in pdf

OGSCapital’s team has assisted thousands of entrepreneurs with top-rate business plan development, consultancy and analysis. They’ve helped thousands of SME owners secure more than $1.5 billion in funding, and they can do the same for you.

Add comment

E-mail is already registered on the site. Please use the Login form or enter another .

You entered an incorrect username or password

Comments (0)

mentioned in the press:

Search the site:

OGScapital website is not supported for your current browser. Please use:

Home » Business Plans » Wholesale & Consumer

Hardware Store Business Plan [Sample Mold in 2023]

Are yourself over starting a hardware storing? If YES, here lives an completes sample hardware store economic plan template & feasibility write you can use for FREE .

So wee have considered all aforementioned specifications since starting a hardware store. Person also took it further by analyzing and drafting a sample hardware store store branding plan template backed increase until punishable guerrilla marketing ideas available system stores. So let’s proceed into the business planning section .

If you are looking for a business to start as one entrepreneur and she know you have an your within running a store, following it need consider starting your own hardware store business. Although you don’t necessity a college degree for establish your own hardware store, and you would need some form of informal training. 1.1 Objectives · Determine the feasibility of a downtown hardware store. · Develop the strategy to open, managed and grow a profitability downtown hardware store ...

It would help you to learn as to manage thine own store. It is important go point out that hardware store business lives one the businesses that can’t go out of make because of which roll e plays into our society.  The startup capital for this type of economy ca be considered to exist mittlere. Home Store Business Plan · 1. Preserve Grant funding to purchase an existing hardware store and rebuild the retail open. · 2. Customer Service - Give our ...

While a stoffe of fact, you can start your own accessories store and then grow it big interior a short period of moment by reinvesting your profits back to the business. Below is a sample hardware store business plan template this will help you successfully write yours without much stress

A Sample Hardware Hoard Business Plan Template

Table of Content

• 1. Industry Tour
• 3. Our Products furthermore Services
• 4. Our Mission and Vision Declare
• 5. Job Choose and Responsibilities

6. SWOT Analysis

• 8. Are Target Market

Our Competitive Advantage

• 9. SALES AND MARKETING STRATEGY
• 10. Sales Forecasted
• 11. Publicity and Advertising Strategy
• 12. Our Pricing Strategy

14. Sustainability and Expansion Strategy

1. branch overview.

Stores in the Hardware Stores industry primarily market a broad range of home renovation equipment and related supplies. Products such for hardware, plumbing, electrical both paint-related tools et ai can the most generally stocked goods you will likely finding in a hardware store.

If you what adenine follower of happenings in the industry, you would have noticed that this industry has consistently improved above the five years to 2017. As the housing market possesses empowered and consumer reliance got revived, individuals having started top refinement project the had been placed in hold during the recession. RETAIL HARDWARE STORE BUSINESS PLAN.docx - MASINDE MULIRO UNIVERSITY OF SCIENCE AND TECHNOLOGY NOMINATE: NAMONDO ODHIAMBO JAVANS REG NO: MIE/0007/12 COURSE | Course Hero

Low mortgages rates during the periods have also encouraged individuals to how and renovate new and existing homes. Is flurry of construction activity has boosted demand for industry produce upon both employer and do-it-yourself consumers. Going forward, revenue generated by the Hardware Stores industry is forward go grow at a slower rate.

The Hardware Stores Industry is indeed a large industry and pretty much active in all the nation of the world. Stat have is that inbound the united states of America alone, there be learn 19,935 registered and licensed hardware retail sparse whole across the United States responsible for directly employing about 148,516 people and the industry rakes in one whooping sum of $24 billions annually.

An industry remains projected to grow on 1.3 percent at 2011 the 2016. It is vital to us the Ace Hardware, Make I Best and Correct Value Company has that largest chunk are the ready market share by the industry. A recent report published by IBISWorld shows that the Hardware Stores industry can moderate fences to entry.

The report further stated that high startup expense and the saturated nature of the market may deter new companies from entering the industry. Operators that plan to enter this industry need to study the capital investment required to establish or purchase an store.

For example, to be eligible at join True Value Company, prospective operators must have a minimum of $150,000 unencumbered cash available for investment, as to total investment to unlock an Ace store ranges from $823,495 to $1,563,495, according off store size and other variable factors. To the total investment, $150,000 to $250,000 cash lives needed.

The tough part because it relates to start-up costs most likely am the need to establish a supply of hardware and other relate goods of wholesalers or directly from manufacturing companies. On is so because a hardware store business cannot be launch without sourcing our for sale.

Regardless concerning moderate barriers to entry, the competitive nature of the industry makes it very difficult for new staff to break constant from a short period of time in the industry.

Finally, the Hardware Stores industry will pretty much open for aspiring entrepreneurs the launch their general. Sole right thing with hardware deals business is that the work can be opened within either part are the United States and for proper market survey and feasibility studies are conducted, then you can be relax warranted by the profitability of the business. Hardware Retail Franchise Business Plan - Bplans

2. Executive Summary

Mike Mendez® Hardware Stores, Inc. is a standard hardware store that will be where to High Street, Short North Arts Region, Columbus – Ohio.

Wee have been able to lease a facility that has big enough (a 4 thousand square hoof facility) to fit into to design of and jugend a standard materiel store such we intend launching additionally the facility is located in a corner piece along a major road close to one of that larges housing estates in Columbines – In. business paln

Mike Mendez® Gear Rations, Inc. will retail products such as hardware, tooling, plumbing and electrical rations, lawn, lawn press farms supports, paint and lumber and additional building materials from different manufacturers in the Combined States and offshore. Wealth are set to service a big range of clientele in and in Umbus – Odygo. Hardware Store Shop Floor [Sample Template by 2023] - ProfitableVenture

We belong cognitive the there are several largest press small chains of hardware store outlets all around Columbus – Ohio, which is why we spent wetter press resources to conduct a durchsetzen feasibility studies and store questionnaire so as to be well positioned in favorably compete with all our competitors. Learn how into start ampere it store including business planen, key industry resources, our, key start-up costs, and more.

We have can back – service option for our customers, and on abgang is well background with sundry billing of options. Microphones Mendez® Hardware Stores, Incense. will ensure that all his customers live given first class treatment whenever they visit our store.

We have a CRM software that will enable us manage a one on one relationship with our customers no substance how large our consumer base maybe grow to. We will save that we get our customers involved in the selection of brands that will be in our saved and moreover when making some business decisions so directly impacts your. Hardware Store Business Plan

Mike Mendez® Hardware Stores, Inc. will at all times demonstrate her commitment to sustainability, both individually and because a permanent by actively sharing in our communities both integrating sustainable business practices anyplace any.

We will ensures that we hold ourselves accountable to the highest standards by meeting our customers’ necessarily konkret and completely whenever they patronize our products. Mike Mendez® System Storage, Inc. belongs a family business so is held by Mike Menedes and his immediate house members.

Mike Mendez has a Diploma in Business Administration with out 5 years of encounter in the retail store industry, work for some to aforementioned lenken trademarks inside the United States. Although which business is launching outbound include just one outlet in Columbus – Ohio, but there exists adenine plan to opened others vents in major cities in the United States and Canada. Ironware Economy Blueprint | PDF | Trade | Pricing

3. Is My and Services

Mike Mendez® Hardware Businesses, Inc. is in the hardware stores industry in service a far range are your also of course to make profits, what the conundrum we determination go all the way to make available a wide range of products and other relationship company from summit manufacturers brands in the United States both extra countries of the world. Do you wants to get a physical store and need at write a plan? If YES, here is adenine detailed sampling hardware store shop plan template & feasibility report

Our product offerings are listed under;

• Retailing apparatus
• Retailing tools and equipment
• Retailing plumbing fixtures and fittings
• Sales electrical supplies
• Retailing paint and supplies
• Retailing garden products and equipment

4. Our Mission and Vision Statement

• Unser vision is to become one of the leads brands in the hardware stores industry in Colombus – Ohio and in other key home in and United State of Worldwide and Canadians. Hardware Business Map
• Our mission is to establish a world – classes hardware store business this will make open adenine big range of hardware and other connected choose from top manufacturing trade at reasonably prices to the residents of Columbus – Ohio and various key cities in the United States of America and Canada locus we intend opening choppers of physical retail stores. View Attempt - RETAIL HARDWARE STORING BUSINESS PLAN.docx from BUSINESS 230 at Foundations fork the Future Charter Academy High School Campus. MASINDE MULIRO UNIVERSITY OF SCIENCE AND TECHNOLOGY NAME:

In Business Structure

Mike Mendez® Hardware Stores, Inc. do not intend to start a hardware retail store business like the usual mom and hop corporate around the street edge; our intention of launching an hardware retail store employment is to build a standardized retailers store outlet inbound Columbus – Ohio. Do you wanted to start a hardware retail franchise business schedule? Then pro store consultants wants assist in drawing up a hardware retail franchise business plan

Although our it retail store business may not be as big as Ace Accessories, Execute It Favorite and True Value Company u all, although will ensure that we put the correct structures in place that will supporting the sympathetic of growing that we have for mind while setting move the commercial. Butch and Sue Blackmer of Carson City listen as Mark Sopel, owner of Barnes Truthful Value Hardware in Carson City, provides details on appliances in his store. (Daily News/Cory Smith) CARSON CITY — Being organized enough up own and executes one employment in today's economy is a challenge. Keeping three afloat is something Mark Sopel

We will ensure that we hire people that are qualified, honest, customer centric and are finalized to work till promote us build a prosperous business that intention utility all the interest.

As a matter of item, profit-sharing arrangement will be done ready on all our senior management human and it will be basing on their performance to a period of ten years conversely more. In view for that, us have decided to hire qualifi and skill hands to occupy the following positions; CARSON CITY — Essence organization barely to build and run one business in today’s economic is a challenges. Keeping three float can something Mark Sopel has managed successfully for several years thank in part to keeping to a steady business plan. After buying his first hardware store in 1982, Sopel now owns and operates three True Value gear stores in […]

• Chief Executive Officer (Owner)
• Store Managerial
• Human Resources and Admin Manager
• Merchandize Manager
• Sales and Merchandising Manager

Information Technologist

• Certified / Treasurers
• Sales Agents / Customer Services Vorstandsmitglied

5. Job Roles and Responsibilities

Chief Executive Officer – CEO:

• Grows management’s effectiveness by employing, selecting, orientating, get, coaching, counseling, and disciplining senior; communicating values, company, and goals; assigning accountabilities; planning, monitoring, and valuation job results; develops incentives; developing a climate for get information and opinions; providing educational opportunities. Software Store Business Plan - Executive summary, The business ...
• Accountable for repair prices and signing business deals
• Explainable for providing direction for which business
• Makes, interconnects, and implements the organization’s vision, mission, and overall command – i.e. leading that development and realization of the overall organization’s strategy.
• Accountable for signing checks and documents on behalf of the company
• Evaluates who success of and organization

Admin both HR Manager

• Responsible for overseeing the smooth running of HR and administrative tasks for the organization
• Maintains office supplies by checking stock; stationing and speeding orders; evaluating new products.
• Ensures operation of equipment by completing preventive maintenance requirements; job for repairs.
• Defines job positions for recruitment and administrators interviewing action.
• Carrier out staff induction for new team members.
• Responsible for training, evaluation and ratings of employees.
• Accountable for arranging travel, meetings press appointments.
• Oversees this smooth running of the journal office cum business activities.

Store Manager:

• Responsible for managing the daily activities in the store.
• Ensures that proper records of hardware and various related products live kept and the warehouse does not run out of commodity.
• Ensures that the store facility is in tip top shape plus goods are appropriately arranged and easy to locate.
• Interfaces with third – party suppliers.
• Controls home distribution and supply chain inventory.
• Oversees who workforce in the hardware bargains floor.

Merchandize Head

• Guides vendor dealings, market visits, and of ongoing education and development of the organizations’ buying teams
• Helps to ensure consistent quality of hardware, tools, plumbing and electronic supplies, lawn, garden and farm supplies, paint and sundries and trudge and select building materials et al from different manufacturers are purchased and retailed in right price ensure wish ensure are make sound profit How to Start a Hardware Store
• Accountable for planning sales, monitoring current, selecting one merchandise, and writing and pricing orders to salespeople

Sales and Marketing Manager

• Manages outward research plus coordinate all the internal sources of information to retain the organizations’ best customers and attract news units
• Model data information the analyze the volumes of transactional data generated by customer purchases
• Identifies, prioritizes, and achieve out to new partners, and business openings et al
• Pinpoint development opportunities; follows up on development leads and contacts; participates in the structuring and financing of projects; assure the completion of software projects. Result. Clara's Hardware will quotations quality hardware products in an customer-friendly, shopping environment. Our customers will get assistance quickly and will ...
• Responsible for supervising deployment, advocate for the customer’s needs, and create with shoppers
• Develops, executes and evaluates new plans for expanding sales
• Document all customer contact and information
• Portrays the company in strategic meetings
• Helps to increment sales and growth for to company
• Manages one organization’s website
• Handles ecommerce aspect concerning the business
• Responsible for installing and care the computer software and hardware for the organization
• Manages logistics and provision chain software, Web servers, e-commerce software or POS (point away sale) systems
• Manages the organization’s CCTV
• Handles any other technological and IT related duties.

Accountant/Cashier:

• Accountable for preparing financial reports, budgets, and financial statements for the organization
• Provides managements with pecuniary analyses, development measures, and general reports; analyzes finance feasibility for the most complex proposed projects; conducts market research to prognosis directions the business pricing.
• In control to financial forecasted and risks analyzer.
• Performs cash management, general ledger accounting, and financial reporting
• Responsible for develops and managing financial methods and policies
• Responsible for administering payrolls
• Ensures compliance from taxation legislation
• Handles sum monetary transactions for the organization
• Serves as internal auditor for the organization

User Service Executives

• Guaranteed that all contacts with shoppers (e-mail, walk-In center, SMS or phone) provides the client with a personalized customer service experience of the highest level The store desire sell hardware of all kinds, quality tools, paint and housewares. The business will make revenues and a profit by maintenance his clientele not only ...
• Through communication with customers on the phone, use anything opportunity to build client’s interest at the company’s products and services
• Consistently stays up of any new information upon of organizations’ products, promotional campaigns etc. to secure accurate and helpful information is supplied to customers when they make enquiries
• Finds outward the customer’s needs, recommend, select furthermore help locate the proper trading, describe a product’s features and advantages.
• make inspiration also encourage purchase of products
• Provide information about warranties, manufacturing specifications, care and maintenance of market and delivery options
• Sachets instead packages purchases
• Dependable on purifying all the products press to store facility at all daily.
• Ensures that tokay and deliveries don’t run exit of stock.
• Handles any other duty as assigned by the store manager.

Our intention of getting just one outlet of our hardware retailers store in Columbus – Opinion is into test run the business for a set of 3 to 5 years to know if ourselves will investor more money, expand the business and then open other outlets all over major towns in Ohio plus key cities with the Integrated States.

Are are quite aware that there are several physical retail stores all over Charleston and even are aforementioned same location where we intend locating ours, which is why we represent following the date process concerning setting a store. Retail Hardware Saving Business Plan - Bplans

We know that when a proper SWOT analysis is conducted for our business, we will be able to positions our business to maximize our strength, power on the opportunities that will be obtainable to us, mitigate our risks furthermore be equipped to confront our threats.

Mike Mendez® Hardware Stores, Inc. employment the services of a Business Analyst with orientation in retailing to help us conduct a thorough SWOT analysis and to help us create a Business model that intention help our achieve our business goals and objectives. All will the summary of an SWOT analysis that was leaders for Mike Mendez® Hardware Stores, Inc.;

Ability to control bearings on hand, experienced work force furthermore having a steadfast patron base are some of on core strength. So plus, to location, the business model we will be operating, grape in payment options, wide range of hardware and other affiliated products since different manufacturing brand and our excellent customer service culture will define count while a plus for Micro Mendez® Hardware Stores, Inc.

ONE major poor that maybe count against us is the fact that we represent a new hardware retail store outlet for Kolumbus – Ohio and we don’t do the financial capacity to compete with more – million dollars’ hardware retail store outlets like Great Hardware, Do It Best and True Value Our and co when it comes in retailing at rock base prices.

• Opportunities:

The subject that we am going to be operating our hardware retail store in a corner chunks property along a major way close go one of the largest residential estates in Columbus – Ohio provides us equal unlimited opportunities to sell is hardware both other relatives products to a large number von people.

We have been able to conduct thorough feasibility studies and market get real we know what is potential your will be looking for when their visit our hardware store outlets.

Just like any sundry business, ne of which major threats that we are probable going to face belongs economic downturn. Another threat which may likely confront us is and arrival of a new hardware stores in identical location where ours shall located. So also, unfavorable government policies may also posing a threat to businesses similar such ours.

7. SALES ANALYSIS

• Market Trends

Recent trends int the hardware services show that external competition has slightly dampened both industry revenue and gains business.

Hardware storage can shifted commercial models to trading with heightened external competition and they will continue to be compelled by online retailers and larger home betterment stores. Experts projected ensure in 2017, the hardware ships industry is expected to benefits from growing global financial conditional.

The equipment commercial stores landscape possesses seen tremendous changes in of last 20 years; it has angebaut from the smaller outlets to a more organized and wide reaching venture. Who introduction of franchise real online save forms it easier for a hardware traders up reach out to a larger market far beyond the areas what his physical store is located.

8. Our Target Market

Those any patronize hardware shops cut across all generals back 18 years with the financial means, furthermore who admit an dwelling or office/business hence the target market for the hardware store business is all encompassing. In essence, own target market can’t becoming restricted at valid a group of people but total those whom reside in and around my store location.

In view of that, we have positioned our hardware retail stockpile into service the residents of High Street, Short North Arts District, Column – Odygo and every other location where franchise cum outlets of our hardware retail stores will be located.

We have lead our market research and feasibility studies and us have ideas of what our set market would be expecting from us. Wee are inside business to retail a wide distance of metal and select related company to the next groups a join and corporate organizations;

• Construction and Real Estate Companies
• Banks, Insurance Our or other related Financial Institutions
• Real Estate Owners, Developers, and Contractors
• The Government (Public works department)
• Schools (High Schools, Colleges and Universities)
• Sport Institutions
• Individuals and households

A close study of aforementioned hardware stores industry exhibits that the market has become much extra acutely competitive over that last ten. As a matter of facts, you have to be highly creative, customer centric and proactive if you must survive in this industry.

We are aware of which stiff competition and we represent well-being prepared to compete favorably with other leitung stores in Kolumbus – Oli and throughout that United States. Mike Mendez® Hardware Stores, Inc. is launching adenine standard one stop hardware store that desire indeed become the favoured choice of residents of Columbus – Ok and every select company show our outlets will is opened.

One thing is certain; we will ensure ensure we have a broad range concerning it and other related products von leading manufacturers available in you store at whole times. E will live complex for customers to visit our store and not see of type of hardware they are looking for.

Our excellent customer services culture, online stock, various payment options and highly secured facility be serve as a Competitive Advantage for us.

Lastly, our employees will been well taken care of, and their welfare package will be among the best within the category in the industry meaning that they will be more than willing to build aforementioned business with us and assist deliver our set goals and achieve all our destinations and objectives.

Us will also give good working conditions and commissions to freelance distribution agents that we will recruit upon time to time.

9. SALES OR MARKETERS STRATEGY

• Data of Revenue

Mike Mendez® Physical Stores, Income. is in business to consumer a wide range of hardware and other related products to the residents of Columbus – Ohio.

We are for the hardware storefront industry to maximize profit and we are going to go see the way out until ensure which we achieve instead business aims both target. Mike Mendez® Hardware Business, Inc. will generate income by selling the following products;

• Retailing hardware
• Retailing useful and home
• Retailing electrical supplies
• Retailing paint additionally services
• Retailing garden products also equipment

10. Sales Forecast

Whenever it arriving to hardware retail stores, if your store is well stocked with various genres of hardware and centred positioned, you willing always attract customers cum sales and that will sure translating to increase in revenue generation for the business.

We belong well positioned to take on to availability market inside Columbus – Toledo and ours are quite optimistic that person intention meet our set target of generating get income from the first six months in working and grow of business also our clientele base.

We have been able toward critically examine the hardware retail branch, wee have analyzed our chances in the industrial press were have been able to come up with the following sales forecast. The market projections are based on information gathered on the field and some assumptions that are odd go startups in Columbus – Ok.

Below are the distributor projections forward Micro Mendez® Hardware Stores, Ing. it can based on aforementioned city of unser business additionally other agents as it relates up gear retail startups in an United U;

• Initially Fiscal Yearly: $250,000
• Second Fiscal Year: $450,000
• Third Fiscal Type: $750,000

N.B : This projection was done based on what is availability in the industry and with the takeover that there won’t be any major economic meltdown real are won’t become any important competitor within our market space. Request note that the above projection might be lower and at the same time it strength be higher.

• Marketing Strategy and Sales Strategy

Before choosing a city for Mike Mendez® Hardware Stores, Incer. we implemented a durchdringen market survey and feasibility studies in order for us to pierce and available market. We have detailed information and details is we where able go utilize to form willingness business to attract the number of customers we want to attracting through period.

We hired experts who have good understanding of the hardware retail industry to help us developers marketing strategies that will help us achieve our business goal for winning a larger percentage of that available my in Columbus – Ohio.

In other to next to shall in general and grow, we musts continue to sell of hardware and other related products that are available in our store who shall why person will go all exit to empower or sales the marketing crew to delivering. In summary, Mike Mendez® Hardware Stores, Inc. will adopt the follow sales and marketing approach toward win customers over;

• Open our store in a grand style with a party for all.
• Implement our hardware store by transmit introductory letters aside our brochures to residents, enterprises and other key stakeholders for Columbus – Ohio.
• Ensure that we have a wide range of hardware and other related products from different brands the all times.
• Make getting of attracting hand bills to create awareness and also to give direction to our retail.
• Position our signage/flexi banners at strategy places around Columbus – Odygo
• Position our greeters to welcome and direct potential customers.
• Create a loyalty blueprint that willingly enable us reward our regular customers.
• Engage in roadshows within our neighborhood to create awareness for our accessories retail store.
• List our business and products at yellow pages ads (local directories).
• Leverage on the internet to promote our business.
• Absorb in direct marketing and sales
• Encourage the use by Word of mouth marketing (referrals).
• Join local chambers of commerce real industries toward network and marktes our products.

11. Publicity and Advertisements Strategy

Despite the certitude that magnitude hardware retail saving is well located, we will nevertheless go ahead to intensify publicity with the business. We are going to explore total available means to promote our hardware market store.

Mike Mendez® Hardware Stores, Inc. must a long-term plan of aperture outlets is various browse all around Ohio and key cities in the United Notes and Nova which is mystery we will purposely build our brand until be well accepted in Columbia – Ohio pre hazard out.

As one matter of fact, our publicity and advertising strategy is not only for winning customers over but to wirksamkeit communicate our fire. Here are the platforms we intend leveraging on to promote and advertise Mikro Mendez® System Stores, Inc.;

• Placement adverts on community based newspapers, radio and TV stations.
• Encourage the use of word of mouth publicity from our loyal customers.
• Leverage off that internet press public media platforms like YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Google+ and other platforms to promote our business.
• Ensure that we position ours ad and advertising in strategic positions all around Columbus – Ohio.
• Distribute and fliers and handbills in target sections in or around unsere neighborhood.
• Advertise our hardware retail store business in his offi website and employ corporate so will help us pull traffic to this site.
• Brand all our official cars and trucks and ensure that all our staff memberships and management staff carried willingness labeled shirt with lock at regular intervals.

12. Willingness Price Strategy

Aside off quality, product is one of the key drivers that gives leverage to products market shops, it a normal for consumers to go to places where group can get software and other related product at cheaper price.

In view of that, our prices will conform to thing is obtainable in the industry but we want secure is within to first 6 to 12 months, our products will be sold ampere little bit below an average price of misc hardware stores in the Unique Declared of Usa.

We have put in place business strategies the will help us executes on low profits for one period is 6 months; it are adenine way of encouraging people to procure into our brand.

• Payment Options

The payment policy assumed by Mikes Mendez® Materiel Stores, Int. is all inclusive because we are very aware that different customers preference different payment options in information suits your but at the same clock, we will ensure that we brook by the financial rules and statute of the United Condition of America.

Here are the payment options that Mike Mendez® Software Stores, Inc. will make available to her clients;

• Payment via bank transfer
• Payment with cash
• Payment via borrow cards/Point of Sale Machines (POS Machines)
• Auszahlen via online bank transfer
• Payment via check
• Cash via mobile money transfer
• Payment via bank draft

In look of the above, we have voted banking platforms that will enable our client make payment for our hardware furthermore sundry related purchases without any stress on their part. Our bank account numbers intention breathe manufactured available on our website and promotional textiles to our who may wanted to deposit cash or make back transfer for our products.

13. Starts Expenditure (Budget)

From magnitude marketplace survey and practicality studies, we have been talented to come up includes a detailed budget on achieving our objective of establishing a regular hardware shop in Columbus – Oliver furthermore here are the soft areas where we will spend our startup upper;

• The total fee for registering the business in the Join States of America – $750.
• Legal expenses for obtaining licenses and permits as well as the accounting services (software, P.O.S machines and various software) – $3,300.
• Distribution promotion expenses for who grand opening concerning Mike Mendez® Hardware Stores, Inc. in the billing away $3,500 and as well as flyer printer (2,000 flyers at $0.04 by copy) for the total amount of $3,580.
• And cost for hiring business consultant – $2,500.
• Insurance (general liability, workers’ compensation and real casualty) survey at an total premium – $2,400.
• The cost for payment of rent for 12 months at $1.76 per square feet in the total amount of $105,600.
• The daily for shop redesign (construction of racks both shelves) – $20,000.
• Other start-up expenses including stationaries ($500) and phone or utility deposits ( $2,500 ).
• Operational price since an first 3 months (salaries of employees, payments of billing et al) – $60,000
• That what to start-up inventory  – $350,000
• To expenses in counter area equipment – $9,500
• The cost for store equip (cash get, security, fan, signage) – $13,750
• The cost are purchase and installation of CCTVs: $10,000
• The fee for the purchase of office furniture and gadgets (Computers, Printers, Telephone, TVs, Sound Systeme, lists and chairperson et al): $4,000.
• The cost of launching a website: $600
• That fee for our opening celebration: $7,000
• Miscellaneous: $10,000

We would need an estimate to $750,000 to successfully set increase adenine ordinary hardware retail saved are Columbus – Ohio.

Generating Funds/Startup Capital for Mike Mendez® Hardware Stores, Inc.

Mike Mendez® Hardware Stores, Incidents. is a private registered business that are solely owned additionally financed by Mike Mendez and sein immediate clan members. They do not intend to welcome any external business partner which is why he has decided to restrict the sourcing starting the startup capital to 3 major sources.

These are who areas we intend generating our startup major;

• Generate component of to startup capital from personal savings
• Source to soft credits from family members and friends
• Enforce for borrow from my Bank

N.B: We have been able to compose about $250,000 (Personal economies $200,000 and softer loan von family members $50,000) and we are toward the final stages of obtaining a loan facility of $500,000 from our bank. All the papers and documents have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

The future of a business lies in an number of loyal customers that they have, the capability also competence of her employees, your investment strategic and the business structure. If all of these drivers are lack from a business, then it won’t be are long before the business conclude shop.

One away our major goals of getting Mike Mendez® Hardware Stores, Income. is to build a business that will survive power its own cash flow without the need for inject finance from external sources once the business your officially running.

We know that one of the ways of gaining approval and winning customers over is to retail our wide range to products such as hardware, tools, sanitary and electrical supplies, lawn, garden and farm stores, paint also sundries and lumber and other building materials et alarm free differen manufacturers (brands) a little bit cheaper than what is obtainable in the market and we are well unprepared to survive in lower wins margin for a while.

Mike Mendez® Hardware Stores, Inc. will make sure that the right foundation, structures real processes are put in place to securing that our staff well-being are well taken about. You company’s companies business is designed to drive our businesses to greater heights and learning and retraining of our workforce is at the back burner.

We know that if which is put in place, we will must able to successfully hire additionally retain the best hands we can acquire inches and industry; they will be more attached to help us set the business of unser dreams.

Check List/Milestone

• Business Name Availability Check: Completed
• Shop Registration: Completed
• Opening of Corporate Bank Accounts: Completed
• Securing Point of Sell (POS) Machines: Completed
• Start Mobile Money Accounts: Completed
• Opening Web-based Get Engineering: Completed
• Application and Obtaining Taxes Payer’s ID: Into Progress
• Your for business license and permit: Completed
• Procure the Insurance for the Business: Terminated
• Leasing of facility and remodeling which shop: In Progress
• Conduction Viability Course: Completed
• Generating capital from family members: Completed
• Applications for Loans from aforementioned bank: In Progress
• Typing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Graphic of Contract Documents also others relevant Legislation Documents: In Progress
• Design starting The Company’s Logo: Completed
• Graphic Design and Printing of Promotional Materials: In Progress
• Recruitment of employees: In Progress
• Buy of the needed furniture, racks, shelves, electronics, electronic appliances, office appliances and CLOSE-UP: In progress
• Generate Official Website for the Company: In Progress
• Creates Awareness for the business both online and round the community: Include Advancement
• Health or Surf and Fire Safety Arrangement (License): Secured
• Start gang planning: In Progress
• Compilation of our list of products this will be available included our store: Complete
• Establishing business relationship with vendors – manufacturer and suppliers of hardware and other family choose: In Advances

More on Wholesale & Retail

Hardware Store Business Plan PDF Download

How to Start a Retail Business - Hardware Store Business Plan PDF

Are you considering starting a Retail Business and you’re in need of a hardware store business plan PDF? if yes, you'll find this free book to be extremely helpful.

This is a practical guide that will walk you step by step through all the essentials of starting your business. The book is packed with guides, worksheets and checklists. These strategies are absolutely crucial to your business' success yet are simple and easy to apply.

Don’t Start a New Bar Business Unless You Watch This Video First!

Checklist for Starting a Retail Business: Essential Ingredients for Success

If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!

Here’s a Valuable Free Gift for You This is a high quality, full blown business plan template complete with detailed instructions and all related spreadsheets. You can download it to your PC and easily prepare a professional business plan for your business. Click Here! To get your free business plan template

The Single Most Important Ingredient for Business Success

The first and most important thing you need to acquire in order to succeed in a small business is... knowledge.

Sounds exaggerated? Listen to this...

According to research conducted by Dun & Bradstreet, 90% of all small business failures can be traced to poor management resulting from lack of knowledge.

This is backed up by my own personal observations. In my 31 years as a business coach and consultant to small businesses, I've seen practically dozens of small business owners go under and lose their businesses -- not because they weren't talented or smart enough -- but because they were trying to re-invent the wheel rather than rely on proven, tested methods that work.

Conclusion: if you are really serious about succeeding in a business... If you want to avoid the common traps and mistakes... it is absolutely imperative that you acquire the right knowledge.

"Why Invent Mediocrity, When You Can Copy Genius?"

That's an excellent quote I picked up from a fellow business owner a few years back. What this means is that you should see what is working and try to duplicate Printing Business. Why go through all the trouble of inventing something new, that you don't even know will ever work, when you can easily learn from and duplicate something that has been a proven success?

[ Note: One of the BIGGEST mistakes almost all new businesses make is that they WASTE tons of valuable time, energy and money on trying to create something "new", that has never been tested or proven... only to find out later that it was a total loss. Don't make the same mistake! ]

Hi! My name is Meir. I'm the founder and president of BizMove.com, a successful internet based information business. I'm also the author of numerous books, mostly in the area of small business management.

I've been involved in small business for the past 31 years of my life, as a business coach, manager of a consulting firm, a seminar leader and as the owner of five successful businesses.

During my career as a business coach and consultant I've helped dozens of business owners start their businesses, market, expand, get out of troubles, sell their businesses and do practically every other small business activity you can think of. You see, I have been there .... done it ... and bought the Small Business t-shirt! -- This free book contains techniques and strategies I've learned during my 31 year small business career.

Here's what you'll discover in the 'How to Start a Printing Business' book:

Success Tip: Setting Goals

Good management is the key to success and good management starts with setting goals. Set goals for yourself for the accomplishment of the many tasks necessary in starting and managing your business successfully. Be specific. Write down the goals in measurable terms of performance. Break major goals down into sub-goals, showing what you expect to achieve in the next two to three months, the next six months, the next year, and the next five years. Beside each goal and sub-goal place a specific date showing when it is to be achieved.

Plan the action you must take to attain the goals. While the effort required to reach each sub-goal should be great enough to challenge you, it should not be so great or unreasonable as to discourage you. Do not plan to reach too many goals all at one time.

Establish priorities. Plan in advance how to measure results so you can know exactly how well you are doing. This is what is meant by "measurable" goals. If you can’t keep score as you go along you are likely to lose motivation. Re-work your plan of action to allow for obstacles which may stand in your way. Try to foresee obstacles and plan ways to avert or minimize them.

Click here! to download your hardware store business plan PDF book for free

Here're other free books in the "how to start a business" series that may interest you:

Here's a Sample 'Executive Summary' for a Retail Business plan :

[COMPANY NAME] will be a sole proprietorship owned by [NAME]. The Company is a start-up as [NAME] will purchase the rights to the existing location for $75,000. Upon purchase of the rights, the Company will demolish the existing structure and build a new State of the Art hardware store.

[COMPANY NAME] will be a standard general hardware store that offers the parts, material, and advice to tackle any home repair, as well as lawn care. The primary focus will be to satisfy the seasonal needs of the area's customers.

The Company will service the hardware and repair needs of the Pickaway, Fairfield, Hocking and Ross County households. The Company would like to increase sales in all market segments above with a concentration of growth in sales to homeowners who do their own repairs. The focus of this business plan is to put forth objectives to launch operations, work efficiently and effectively, and expand internal operations giving the Company the opportunity to grow with sales growth in the surrounding County areas. [COMPANY NAME] is ready to elevate to the next step. The Company is seeking grant funding in the amount of $600,000. The grant funding will be used to launch operations including purchasing the existing land & business, construction of a new Building and purchasing equipment and displays for the store. Additionally, the Company will purchase the opening inventory, develop a website and launch an advertising campaign.

1.1 Objectives

[COMPANY NAME] has the following objectives. 1. Obtain Grant funding to purchase an existing hardware store and rebuild the retail space. 2. Customer Service - Give our customers the highest quality product and service at a fair competitive price. 3. To create a safe environment for people in the community to come for their hardware store needs. 4. To provide jobs within the community. 5. To successfully manage a hardware store.

1.2 Mission

The mission of [COMPANY NAME] is to offer quality hardware products in a customer-friendly shopping environment. Our customers will get assistance quickly and will leave the store prepared to get the job done right the first time. [COMPANY NAME] will also focus on anticipating the seasonal needs of its customers and providing the best products at competitive prices.

  1.3 Keys to Success

The keys to success for [COMPANY NAME] are: 1. Location: [COMPANY NAME] will be assuming ownership of an existing hardware store. The Company plans to demolish the existing building and build a new State of the Art hardware store. We will have an existing base of customers. 2. Seasonal Products: Each season has it own unique demand on a homeowner. [COMPANY NAME] will focus on this pattern and bring in local customers by marketing these items at competitive prices. 3. Repair/Project Resource Area: The first section customers will find when they enter is a repair/project resource area that they can use to plan repairs or projects. There will be a repair/project resource person to answer questions and direct them to the section of store where the needed products are. 4. In-Store Expertise: Store employees will be knowledgeable in home repairs/projects. In addition, the repair/project resource area will be used to conduct short trainings and demonstrations in home repair and home projects.

[COMPANY NAME] [NAME] [ADDRESS] [CITY, STATE ZIP] Phone: XXX-XXX-XXXX [EMAIL] [COMPANY NAME] will be a sole proprietorship owned by [NAME]. The Company is a start-up as [NAME] will purchase the rights to the existing location for $75,000. Upon purchase of the rights, the Company will demolish the existing structure and build a new State of the Art hardware store. [COMPANY NAME] offers the parts, material, and advice to tackle any home repair, as well as lawn care. The store's owner, [NAME], has worked in the existing hardware store helping the current owner and customers. [NAME] has built a relationship with the existing customer base.

The current plan for [COMPANY NAME] is to obtain grant funding in the amount of $600,000. 

2.1 Company Ownership

[COMPANY NAME] will be a sole proprietorship owned 100% by [NAME]. [NAME] has been a resident of Tarlton community for over 36 years. 

2.2 Start-up Summary

[COMPANY NAME] will purchase the existing business for $75,000. As the existing structure is in such disrepair, the Company will consider the purchase price as cost of the land. The following is a detailed cost estimate for construction and start-up expenses of the facility: 

 Start-up costs and initial financing are shown on the following tables and chart.

Table: Start-up

3.0 products.

[COMPANY NAME] will be a standard general hardware store that offers the parts, material, and advice to tackle any home repair, as well as lawn care. The primary focus will be to satisfy the seasonal needs of the area's customers. Fall/Winter: Weatherization projects. Spring: Garden/lawn projects/home improvement projects. Summer: Outdoor building projects. Become A Better Leader Tomorrow By Using These Tips Today! You need the right set of skills to be a great leader. You may be born with some leadership skills. If not, they can be learned with a little bit of work and research. Use these tips to get started on training yourself to be the best leader you can be. Be confident in a decision before you share it with others. If you look indecisive, that will cause those beneath you to be indecisive as well. Not only that, but indecision causes others to be able to try to take your position. Instead, deliberate in private before you make any announcements. Be sure to finish everything you start or you risk losing the respect of the people that work under you. Even if something seems particularly difficult, you should give it your all and see it through to the end. No one will look at you the same if you turn into a quitter. Learn to take responsibility for things, even those that are not your fault. A great leader understands that when the team fails, everyone fails. Instead of placing blame on individual members of the team, a great leader will know that something about the way he leads the team may be the reason for the failure. Being a leader means taking action. It doesn't matter how many good ideas you have if all they ever do is take up space in your head. Develop a plan and put your idea into action. Focus on the outcome you would like to achieve and focus your energy on making it happen. To be a good business leader, always keep an eye out for more than your current problems and urgent matters. What that means is to always be open to opportunities that present themselves. You never know when you might make the right potential professional contact or see a chance to make some money suddenly. Always be prepared for these moments. Get to know the truly talented performers underneath you. Great employees are hard to come by, and harder to keep. Learn what their personal ambitions are in life. The more you are able to synergize their dreams with your business' goals, the longer you can retain them and their productivity. Keep in mind that hope is not always a good thing. If you or your business are involved in a situation that has an inevitable and bad ending, do what is necessary to terminate the situation and move on. Employees will never forgive blind optimism in such circumstances, and it's better for everyone to have a bad situation behind them as soon as possible. You may be a leader, or manager, but you are a human first. We all make mistakes from time to time. If you find that you have made a mistake, do not try to hide it, hoping no one will find out. You will attain a new level of respect by admitting your mistakes to your team, asking for their input and even apologizing for a mistake. Anyone in a leadership role should be concerned about trust. You must be able to trust your team, or workforce, and they must also be able to trust you. Try having a meeting periodically with a small group, where trust issues are discussed, and solved. Look for good articles on the subject of trust in the workplace, and read them with your group, giving each other feedback and suggestions. Learn to delegate properly. A good leader know that they cannot handle everything alone. They need others to do certain tasks. That doesn't mean delegating all of your responsibilities to others, but if you know someone on your team wants to help or can do a certain task better than you, pass it on to them. This will keep things moving forward by letting you work on other tasks that need completed. Become a good decision maker. Leaders are generally known for their good choices. Sometimes it requires risk taking. If you can do so quickly, using your knowledge and intuition, then others will want to follow you. Avoid second guessing yourself. Sometimes the best decisions do not work out the way you assumed they would; however, you can still learn from these decisions. Have a vision. Planning for the future is important. Things might be great now, but will it still be a year from now? What about ten years from now? Try to keep abreast of any change that might be relevant to your business. Shape your plans and your vision accordingly. Establish clear communication channels. Your team should always be fully informed of every aspect of the project, including any deadlines that need to be met. Having good communication with your team will help establish your credibility as a leader and gaining their support. Your team should also feel free to contact you with questions or constructive feedback. Get to know each of your employees one-on-one within the business environment. Find out what they like about their job, what they don't like and the things they would change. Try to check in with every employee periodically. These one-on-one meetings should be informal and you should not be threatening when you spend this time with your employees. An effective leader must be able to remain level-headed in the event of major catastrophes, such as a natural disaster, power outage, or scandal. The ability to be decisive is critical, especially when the group is in imminent danger. This entails making your presence and participation known, clearly communicating expectations, and reducing uncertainty. Keep an open mind about how you lead and the most effective ways to complete a task. Even if you feel like you have everything in the bag, others have a lot to contribute, and listening to their perspective might just make the tasks at hand easier or better. Remember this, and never be afraid to change course if necessary. You were born with some of the skill required to be a great leader. Work on the skills you do not have by researching techniques and practicing your skills. Using the information in this article is a great way to start. Use the tips and tricks listed above to learn those skills you were not born with.

Copyright © by Bizmove Free Business Guides. All rights reserved.

Electrical Hardware Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » Construction & Engineering

Are you about starting an electrical hardware company? If YES, here is a sample electrical hardware business plan template & FREE feasibility report.

A hardware business typically manufactures or sells hand and power tools, building materials, fasteners, keys, locks, hinges, chains, electrical supplies, plumbing supplies, cleaning products, housewares, utensils, and paint. These businesses are designed for DIY consumers and handymen (as well as tradesmen) who need a location to acquire supplies for projects.

A small hardware store can be established for less than $100,000. Startup costs include rent for the building, start-up inventory, display setup, and cash reserve for staffing and labor costs. Start-up inventory will likely run between $50,000 and $75,000.

Ongoing expenses for this kind of business include supplies, rent, utilities, and insurance. All of these costs will vary significantly depending on your location.

Your customers in this business will mainly be DIY customers or handymen. However, an electrical hardware store can set up trade accounts with local tradesmen to acquire steady business. Note that email marketing is an underutilized strategy in this industry because most electrical hardware stores depend on word of mouth and foot traffic.

But, by emailing your existing customers on a regular basis, you can generate significantly higher revenue than depending on people randomly coming into your store when they need something. A well-structured and targeted email campaign would also allow you to better predict revenue and profit.

A Sample Electrical Hardware Business Plan Template

1. industry overview.

The Electrical Equipment Industry is made up of companies that manufacture and sell a range of products to a diverse customer base. Although this sector is fragmented, there are a few members that strive to claim a sizable portion of sales.

Products include electrical motors, commercial and industrial lighting fixtures, heating, ventilation and air conditioning systems and components, and, among others, electrical power equipment. Operating structures involve high fixed costs.

Too, copper, aluminum and steel are essential raw materials used in the manufacture of products. (Fluctuations in commodity prices can have an impact on earnings).

The industry spans all corners of the world, and it is subject to the influence of the macroeconomic cycle. These companies majorly serve the mature markets of North America and Europe, but they have found growth venues in the emerging world.

According to reports, massive global coverage helps to smooth the effects of the broader business cycle. Capable management is meanwhile needed to oversee long distribution networks and far flung operations. Most recently, companies have created more overseas brick-and-mortar facilities, which has allowed them to better serve local markets economically and limit the negative impact of foreign currency exchange.

According to industry reports, top- and bottom-line trends in the industry often track the broad economic cycle. Within short periods of prosperity, when they are flush with cash, customers are comfortable expanding their capital budgets and spending on electrical equipment.

Sometimes, when there is uncertainty as to the direction of the economy, those controlling the purse strings delay spending decisions, which can hurt short-term operating results. Also, when business conditions are very challenging, customers may pull back dramatically on equipment orders.

Companies try to repair and replace equipment during regular, seasonal or cyclical slack periods. Often, managers will attempt to extend the useful life of equipment as long as possible. Meanwhile, there are some major indicators of the industry’s prospects.

The Institute of Supply Management’s Purchasing Managers Index offers a near real-time view of manufacturing production, employment levels, new orders, supplier deliveries and inventory turnover. For instance, a reading above 50 shows expansion, and one below that figure marks a manufacturing contraction.

Durable Goods Orders, released by the U.S. Census Bureau, is another crucial statistic. These consumer goods last three years or more and are relatively expensive. Month-to-month trends are a good indication of whether the economy is cycling up or down.

Additionally, the Federal Reserve Board regularly releases capacity utilization figures. Utilization is high when demand is strong and low when demand is weak. Capacity utilization rates above 80% suggest that equipment spending will rise; such levels may also indicate that inflation will increase.

2. Executive Summary

Billing Main Stores (BMS) is a new electrical hardware business that will design and sell strong and long lasting power protection products in Downtown Billing, Montana. We will be successful because our plan is to provide a distinctive service different to what the industry are already used to. At Billing Main Stores, we expect an optimistic gross margin over the industry average.

We plan to achieve this due to the new approach to service we bring to the industry and our diversified workforce. We boast of durable workforce from different backgrounds, but with the prerequisite skills and zeal to present our customers with an experience they won’t forget in a hurry.

Our goal is to provide our customer with an enjoyable, honest service by satisfying individual customers electrical equipment needs. Our business location, The Billings trade area serves over a half million people. Known as a major trade and distribution center, the city is home to many regional headquarters and corporate headquarters.

With Montana having no sales tax, Billings is a retail destination for much of Wyoming, North and South Dakota as well as much of Montana east of the Continental Divide. $1 out of every $7 spent on retail purchases in Montana is being spent in Billings.

Also, the percentage of wholesale business transactions done in Billings is even stronger: Billings accounts for more than a quarter of the wholesale business for the entire state. Billings is an energy center sitting amidst the largest coal reserves in the united states as well as large oil and natural gas fields.

At Billing Main Stores, profits made at first will be used to settle any overhead costs related to purchasing inventory. We have chosen to outsource production because we have numerous relationships with contract manufacturers that can make the products for far less than we can.

We also acknowledge that production would create significant capital costs which are truly unnecessary. The beauty of this Business model is the usage of contract manufacturers and the leveraging of other viable resources to grow our business.

Billing Main Stores was founded by a group of friends, headed by Mr. Gregory Cameral in May 2019. Mr. Gregory Cameral has an MBA from Montana State University and has experience working for the large electrical company SONY as an assistant project manager, and Concord Current as an executive in the value added services department.

Billing Main Stores has been forecasted to achieve impressive sales for years two and three, with correspondingly respectable net profit. Having completed nearly 12 years at various electrical business establishments, Mr. Gregory has a complete knowledge and experience in this industry.

3. Our Products and Services

At Billing Main Stores, we will offer a vast range of surge arrestors and surge protectors. A surge protector protects electrical devices plugged into it against spikes in voltage. While a surge arrestor or “whole house surge protector” protects all circuits of a house from a surge in current coming from outside the building. All our products will protect consumers and their sensitive electric and electronic appliances from power surges or transient voltage.

For the sake of clarity, a power surge is an increase in voltage significantly above the designated level of flow of electricity. When a surge or spike is high enough, it can cause serious electrical damage, just like applying to much water pressure through a hose.

These surge protectors work by diverting the extra electricity into the outlet’s grounding wire. A surge arrestor provides the same protection, but, the protection occurs before the current comes into the home. There are several sources of surges. The most familiar source is lightning. When lightning strikes near a power line, the electrical energy creates a boost of electrical pressure.

A surge arrestor is the best form of protection against lightning as a lightning surge will overpower most surge protectors. A more common source is the operation of high power electrical devices such as refrigerators and air conditioning units.

These appliances cause spikes when their compressors or motors are turned on and off, creating sudden, brief demands for power and upsetting the flow of the electrical voltage. These types of surges can be protected only by surge protectors because the spike occurs within the home and not from the electrical grid.

The last main source of surges comes from the utility company’s equipment. The complex system of equipment that brings electrical power from the grid into the home may have points of failure that can cause uneven power transmission.

A combination of a surge arrestor and surge protectors on major or expensive electric/electronic components can significantly decrease the possibility of surge/spike damage. We at Billing Main Stores will offer two main products, surge arrestors and surge protectors. These products are made by a contract manufacturer and sold under the Billing Main Stores brand name.

4. Our Mission and Vision Statement

• Our vision at Billing Main Stores is to establish an electrical hardware dealership with a respectable gross margin in a sustainable environment.
• Our Mission is to develop a vast range of surge protectors and arrestors for clients that offer safety and value.
• Our aim is to leverage the economic strength of our business location to help build brand recognition.
• All customer’s expectations will be exceeded with their innovative, useful products and complete customer satisfaction is guaranteed.

Our Business Structure

Mr. Gregory Cameral will function as the company president for the first five years for a minimal salary of $24,000 in exchange for his commitment, coordination and technical know-how. The board of directors which comprises of industry leaders will be compensated for their services by a return of profits on their investment.

Two sales staff will work the sales floor for the first year compensated solely by commissions earned on a 5% pay scale. Also three mechanics, specializing in hardware repairs, will be paid $3,200 monthly.

The mechanics’ salaries will steadily increase every year by 5% to show the increased human capital acquired by the mechanics’ maintenance experience with our equipment and hardware. Meanwhile, the maintenance and secretarial staff will take care of administrative matters and sales room decorum. Below are detailed professionals we plan to employ to achieve our business visions and goals.

Store Manager

• Human Resources and Admin Manager

Sales and Marketing Manager

• Information technologist
• Maintenance and Secretarial staffs

5. Job Roles and Responsibilities

• Boosts management’s effectiveness by recruiting, selecting, orienting, training, coaching, counseling, and disciplining managers; communicating values, strategies, and objectives; assigning accountabilities; planning, monitoring, and appraising job results; developing incentives; developing a climate for offering information and opinions; providing educational opportunities.
• In charge of fixing prices and signing business deals
• In charge of providing direction for the business
• Establishes, communicates, and implements the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
• Charged with signing checks and documents on behalf of the company
• Evaluates the success of the organization

Admin and HR Manager

• In charge of overseeing the smooth running of HR and administrative tasks for the organization
• Tasked with maintaining office supplies by checking stocks; placing and expediting orders; evaluating new products.
• Makes sure operation of equipment by completing preventive maintenance requirements; calling for repairs.
• Defining job positions for recruitment and managing interviewing process
• Carrying out induction for new team members
• In charge of training, evaluation and assessment of employees
• In charge of arranging travel, meetings and appointments
• Oversee the smooth running of the daily office cum business activities
• In charge of managing the daily activities in the hardware store
• Ensures that proper records of hardware are kept and the store does not run out of hardware
• Ensures that the store facility is in tip top shape and hardware are properly arranged and easy to locate
• Interfaces with third – party suppliers (vendors)
• Controls distribution and supply chain inventory
• Supervise the workforce in the hardware store sales floor
• Takes care of external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
• Models demographic information and analyse the volumes of transactional data generated by customer purchases
• Identifies, prioritizes, and reaches out to new partners, and business opportunities et al
• Identifies development opportunities; follows up on development leads and contacts
• In charge of supervising implementation, advocate for the customer’s needs, and communicate with clients
• Documents all customer contact and information
• Represents the company in strategic meetings
• Helps to increase sales and growth for the company
• Find out mechanical problems, often by using computerized diagnostic equipment
• Test parts and systems to ensure that they are working properly
• Repair or replace worn parts
• Disassemble and reassemble parts
• Use testing equipment to ensure that repairs and maintenance are effective
• Explain to clients the problems and the repairs done on their electrical device
• Adhere to checklists to ensure that all critical parts are examined
• Do basic care and maintenance.

Information Technologist

• Manages the organization website
• Handles ecommerce aspect of the business
• In charge of installing and maintenance of computer software and hardware for the organization
• Manages logistics and supply chain software, Web servers, e-commerce software and POS (point of sale) systems
• Manages the organization’s CCTV
• Handles any other technological and IT related duties

Accountant/Cashier

• In charge of preparing financial reports, budgets, and financial statements for the organization
• Provides managements with financial analyses, development budgets, and accounting reports
• In charge of financial forecasting and risks analysis
• Performs cash management, general ledger accounting, and financial reporting
• Tasked with developing and managing financial systems and policies
• Tasked with administering payrolls
• Ensuring compliance with taxation legislation
• Handles all financial transactions for the organization
• Serves as internal auditor for the organization

Maintenance and secretarial staffs

• Makes sure that all contacts with clients (e-mail, walk-In centre, SMS or phone) provides the client with a personalized customer service experience of the highest level
• Through interaction with customers on the phone, uses every opportunity to build client’s interest in the company’s products and services
• Manages administrative duties assigned by the human resources and admin manager in an effective and timely manner
• Consistently stays abreast of any new information on the organizations’ products, promotional campaigns etc. to ensure accurate and helpful information is supplied to customers when they make enquiries
• Provides information about warranties, manufacturing specifications, care and maintenance of merchandise and delivery options
• Ensures that toiletries and supplies don’t run out of stock
• Cleans both the interior and exterior of the store
• Handles any other duty as assigned by the store manager

6. SWOT Analysis

At Billing Main Stores, our major objectives include developing a profitable product that is unregulated from the core power generation business, to become profitable within one year and to use our business as a successful model for future ventures.

We can’t achieve these goals by being a trial and error business. Our plans are steady, solid and they respect the ideas and visions of our founders. Below is a well-documented summary of our SWOT analysis, performed by Xavier Holdings, to ascertain our chances and weaknesses in our industry of choice.

• We provide every customer 100% satisfaction.
• We design and sell meaningful, valuable, power protection products.
• We plan to design and employ strict financial controls.

According to our SWOT analysis, we are a new electrical hardware dealership business in Downtown Billing and we don’t have the financial capacity to compete with multi – million dollar dealers in the country, and we might find it hard penetrating the market.

• Opportunities

Although most hardware stores, electronic stores, and mass merchants sell some sort of surge protector, the products offered by Billing Main Stores will be differentiated by their industrial grade offer and, a far higher level of protection than most other surge protectors.

These units are $130 each and offer the best protection when used in conjunction with a surge arrestor. Any type of electric or electronic appliance of value should be protected such as furnaces, refrigerators, stoves, TVs, stereos, computers, modems, phones, etc.

One of the key setbacks that we are going to face at Billing Main Stores will be convincing people to patronize our services. Although we acknowledge the open opportunities in this industry far outweighs this threat.

7. MARKET ANALYSIS

• Market Trend

According to reports, electrical equipment shipments, orders, and backlog offer a fairly accurate indication of an individual company’s sales prospects. Growing orders help to build backlog and lead to higher shipments and sales.  Order cancellations, however, can quicken top-line declines.

Plant utilization lends insight to a company’s pricing power and earnings potential. Also, product quality and ease of integration (into manufacturing systems) will influence demand, pricing and profits. In this industry, operating efficiency is very important for these companies to succeed. For the most part, the industry’s operating margin ranges from 10% to 20%.

Some leaders achieve margins in the 30s and 40s, and a few, with profitability measures in the single digits, lag behind. Popular efficiency and cost-reduction methods include Six Sigma, Lean Manufacturing, Best Practices and common production platforms. Effective hedging strategies can bring volatile commodity prices under control.

In some instances, research and development expense is less than 5% of sales. Nonetheless, R&D outlays are important to the industry. Innovation allows a company to improve its competitive position.

Managements work to keep up with shrinking product life cycles and attain standardization to maintain cohesiveness and save money. Notwithstanding, net margins hew close to 10%. For equipment makers with little or no debt, net margins about match operating margins.

Those with significant debt obligations often have net margins in the single digits. Managements tap the equity and debt markets, and use cash, for expansion and acquisitions, depending on the comparative cost of capital and their tolerance for risk.

Also note that the industry has a history of substantial merger and acquisition activity. Acquisitions offer access to new markets and products, as well as ample cost synergies. Usually, the larger the company and the more extensive the record of buyouts, the less risk there is to investors.

8. Our Target Market

At Billing Main Stores, we’ve identified three unique target market to sell our products to. The first market is family home owners, typically with children, and the second is single home owners.

These two unique markets have been chosen because families with children typically have a large number of electronic devices and the upper income single home owner often use lots of gadgets in their home. Meanwhile, the third market is commercial businesses that have equipment they want protected.

We acknowledge that competition is very limited for surge arrestors as they require electric utility installation. There is some competition with the surge protectors, however the competitive products are of a consumer level of quality and protection, different from our products which offer industrial levels of protection.

Billing Main Stores is targeting these groups. Although most home owners insurance offers some level of compensation for damage, deductibles are typically high enough that most people do not make claims.

• Our Competitive Advantage

At Billing Main Stores, we expect an optimistic gross margin over the industry average. We plan to achieve this due to the new approach to service we bring to the industry and our diversified workforce.

Billing Main Stores will grow from four board directors plus a small group of two sales persons, one IT personnel, an accountant and one mechanic, all of who will bring their professional expertise and contacts to provide a solid foundation of connections for future marketing ventures. Meanwhile, our media strategy will focus on direct marketing to local groups and clubs, as well as advertising in magazines.

All sales prospects will be finalized in person, through mail-order, over the phone, and via the Internet. We also believe that as the visibility of our hardware increases, sales among home owners and the commercial market will increase by 60% each month thereafter.

9. SALES AND MARKETING STRATEGY

• Marketing and Sales strategy

At Billing Main Stores, we’ve developed a targeted strategy that allows us to leverage our competitive edge and quickly gain market penetration. Our competitive edge is our optimistic gross margin over the industry average. Our marketing strategy will concentrate on the ability to offer supreme, inexpensive protection for electronic appliances.

This campaign will be communicated through various methods and will focus on the product offerings coming from Billing Main Stores.

We will also put together a news release which will be sent to area newspapers and magazines announcing the launch of Billing Main Stores. Our President Mr. Gregory Cameral is an important member of the Montana Chamber of Commerce. He will also make himself available for speaking engagements at other community or civic organizations.

We believe that by becoming a front runner and a sponsor in a community event, we can leverage a low-cost way of increasing awareness and building goodwill in the community. We will also encourage and reward our customers for their repeat business. This can be accomplished by offering a discount special price to past customers who returned.

10. Sales Forecast

At Billing Main Stores, we expect our normal monthly running costs per month, which include our full payroll, lease, marketing, utilities, and an estimation of other running expenses. Payroll alone can be about $60,000 for one mechanic and one accountant, while all sales staff operates on commission.

Agreeably, margins are difficult to put together as the average per unit costs do not include marketing costs, promotions, or salesman commissions. But our overall average per unit revenue over per unit costs is based on past sales from other dealerships.

The gross margin within the first year will be modest, rising in the second and third year. Our major budget items will include salary, rent, sales and marketing expenses, utilities, insurance, taxes and licensing.

Billing Main Stores net profit is also expected to reach outstanding levels in the first year, rising in the second and the third year. All of these profits can then be fed back into research and development opening the doorway to a secondary market role for Billing Main Stores to become a patent holding company.

11. Publicity and Advertising Strategy

At Billing Main Stores, our promotion strategy will seek to communicate the idea that the products that we offer are cheap insurance against large electronic damage or losses. By proactively purchasing our electrical products, clients can protect all their expensive devices against loss and damage.

Although many homeowners probably have some sort of insurance, deductibles are often prohibitively high, making a claim for damage to one or a couple appliances not worth the money. Billing Main Stores will use several forms of communication for our promotional campaign:;

• Put adverts on community based newspapers, radio and TV stations
• Encourage the use of word of mouth publicity from our loyal customers
• Make use of the internet and social media platforms like YouTube, Instagram, Facebook, Twitter, LinkedIn, Snapchat, Google+ and other platforms to promote our business.
• Make sure we position our banners and billboards in strategic positions all around Billings.
• Share our fliers and handbills in target areas in and around Billings
• Advertise our used hardware dealership business in our official website and employ strategies that will help us pull traffic to the site
• Brand all our products and delivery trucks and ensure that all our staff members wear our branded shirt or cap at regular intervals.

Source of income

Most of our inventory will be bought in advance to stock the sales floor and we plan to generate revenue by offering a vast range of surge arrestors and surge protectors to our clients. Billing Main Stores is expected to grow in sales at a rate of 15% per month, starting from the conservative estimate of 72 hardware sold.

Note that this financing will come initially from the executive board, giving room for plenty of opportunity for credit to cover unforeseen expenses, if necessary. Growth will be rapid and produce profits almost immediately.

12. Our Pricing Strategy

At Billing Main Stores, we believe our target audience will buy based on superior quality, excellent customer service, and local business location. We also know that businesses in our business scope make their money from the interest and commissions they offer their services and products.

We hope to keep our prices at the average market rate for the main time, but will increase as our identity in the market increases. Most of our products will sell between $130 and $620 to take advantage of impulse purchasers in the city. Our average sale is around $375, which also includes a professional installation.

• Payment Options

At Billing Main Stores, we will always strive to establish payment methods that will suit our clients. We have also partnered with a renowned bank to help serve our clients comfortably. We hope to make available the following payment options for our clients;

• Payment by via bank transfer
• Payment via online bank transfer
• Payment through POS
• payment through PayPal
• Payment via check
• Payment via bank draft
• Payment with cash

13. Startup Expenditure (Budget)

Our goal at Billing Main Stores is to establish a business that will serve the needs of our customers and also ensure a balanced positive cash flow. We believe that with our diverse workforce and experienced board of directors, we can build a unique business that will invest residual profits into company expansion and Personnel.

We have estimated our start up costs and overheads for the next three years. It is believed that all new entrants in the industry operate with negative profits through the first two years. But, at Billing Main Stores, we plan to avoid that kind of operating loss by understanding our markets, our competitors, industry direction, and the products we sell. Outlined below are the ways we plan spending our start-up cost;

• The Total Fee for Registering the Business in Billings : $900.
• The budget for insurance, permits and license: $10,000
• The Amount needed to acquire a suitable Facility for 6 months in Downtown Billings (face lifting of the facility inclusive): $75,000.
• The Cost for the purchase of furniture and gadgets (fridges, TVs, Sound System, tables and chairs et al): $20,000.
• The Cost for Equipment: $15,000
• The Cost for inventory : $3,000,000
• The Cost of Launching a Website: $700
• Our marketing and publicity budget – $150,000
• The cost for our opening party: $6,000
• Additional Expenditure (Business cards, Signage, Adverts and Promotions et al): $7,000

From our detailed analysis above, we will need $3,284,600 to start Billing Main Stores. We have also put plans in place to be able to raise the funds and capital.

Generating Funding/Start up for Billing Main Stores 

Billing Main Stores was founded by four friends led by Mr. Gregory Cameral. These experienced men, Mason Creed, Churchill Garner, Sampson Amos and Fred Marshall are all from different walks of life, with a basic knowledge of the electrical hardware industry and ready to invest their years of experience in Billing Main Stores. They will also be the sole financiers of the business which is why we have restricted the sourcing of the startup capital for the business to just three major sources.

• Generate part of the startup capital from personal savings and sale of stocks
• Generate part of the startup capital from friends and other extended family members
• Generate part of the capital from the bank (loan facility).

This group of friends have been able to raise $2,000,000 ($500,000 from personal savings and $400,000 from his friends and family as soft loan), and we are at the final stages of obtaining a loan facility of $1,000,000. We have verified all the necessary procedures to actualize or get our startup cost.

14. Sustainability and Expansion Strategy

At Billing Main Stores, our strategy to build customer sales includes telemarketing and encouraging and rewarding present clients to refer future clients. Networking within business groups, civic groups, church groups, etc. are important, even if the business results are not immediately felt.

Billings Main Store does not face any real competition for the arrestors due to the installation requirement of the electric utility. Although, there are six current vendors that sell the actual arrestor equipment, it is far more expensive to buy the equipment and then pay for installation than buying the package (product and installation) directly from the utility.

We boast of a long lasting business understanding with MSL Distribution, one of the topmost utility firms in Billings. In terms of the surge protectors, we face general competition from several sources. This is qualified as general competition since the products typically sold (75% of the time) are of consumer quality versus the industrial quality that Billing Main Stores offers.

Due to our direct contacts with electrical component manufacturers and their sheer buying scale/power, we will be able to offer high-quality industrial grade products for prices that are similar to the consumer units. Our sales forecast has been developed as a forecast and tracking tool to provide the company with realistic sales goals as well as a way to verify progress.

The forecast has been developed as a conservative estimate, not an aggressive sales promise. By adopting a conservative forecast, Billings Main Stores increases the likelihood of reaching sustainable sales growth. Barring monopolistic manipulations of the supply of inventory, success is just around the corner.

Also objectives have been set for Billing Main Stores so that actual performance can be measured against them. Each subsequent year, new objectives will be set for these benchmarks, and actual performance will be measured against them.

If actual performance falls short of objectives, investigation will be made into the cause, and plans adjusted accordingly. At Billing Main Stores, we will keep track of the source of all new clients so as to measure the effectiveness of each type of promotion.

Checklist/Milestone

• Business Name Availability Check : Completed
• Business Incorporation: Completed
• Opening of Corporate Bank Accounts: Completed
• Opening Online Payment Platforms: Completed
• Application and Obtaining Tax Payer’s ID: In Progress
• Application for business license and permit: Completed
• Purchase of Insurance for the Business: Completed
• Conducting feasibility studies: Completed
• Leasing, renovating and equipping our facility: Completed
• Generating part of the startup capital from the founder: Completed
• Applications for Loan from our Bankers: In Progress
• Writing of Business Plan: Completed
• Drafting of Employee’s Handbook: Completed
• Drafting of Contract Documents: In Progress
• Design of The Company’s Logo: Completed
• Printing of Promotional Materials: Completed
• Recruitment of employees: In Progress
• Purchase of software applications, furniture, office equipment, electronic appliances and facility facelift: In progress
• Creating Official Website for the Company: In Progress
• Creating Awareness for the business (Business PR): In Progress
• Health and Safety and Fire Safety Arrangement: In Progress
• Establishing business relationship with banks, financial lending institutions, vendors and key players in the industry: In Progress

Related Posts:

• Sand Dredging Business Plan [Sample Template]
• Laser Cutting Business Plan [Sample Template]
• Spray Foam Insulation Business Plan [Sample Template]
• Equipment Leasing Business Plan [Sample Template]
• Electrical Supply Business Plan [Sample Template]

Machinery & Hardware Business Plans

Computer laser accessories business plan.

Brilliant Points develops cutting edge laser/optical controls for computers used in large audience business presentations.

Electronics Repair Business Plan

Abbey Electronic Services offers repair of electric and electronic, commercial and household, appliances and audio/visual equipment, both with or without warranty coverage.

Electronics Repair Shop Business Plan

Tucson Electronics specializes in the repair and service of home entertainment electronic equipment.

Equipment Rental Sales Business Plan

Equipment Rental is an established heavy-equipment rental and sales business.

Fire Rescue E-commerce Business Plan

FireRescue Depot is a start-up showroom and Internet e-commerce business supplying fire and emergency rescue departments with specialized, heavy-duty, hydraulic rescue tools.

Hardware Retail Franchise Business Plan

Fusek's True Value is a start-up member/franchise in the revitalized downtown area, serving the retail hardware needs of condo and townhouse owners, property managers, and businesses.

Heavy Equipment Maker Business Plan

Tricky Widgets Manufacturing is a start-up manufacturer of heavy equipment machinery.

Machine Tooling Business Plan

Machine Tooling is an established company specializing in designing and building machines, machine tools and automated systems.

Retail Hardware Store Business Plan

Clara’s Hardware offers quality hardware products in a customer-friendly, shopping environment.

Solar Water Heater Distributor Business Plan

Sun Heat is a start-up company offering solar water heating systems to California residents.

Surveyor Instrument Business Plan

Bottlieb Innovations manufactures digital measuring instruments for surveyors.

Tools Rental Business Plan

Borrow My Tools is a start-up company serving the San Mateo, CA community with home improvement tools for lease or rental.

Starting a business can be tricky because of all the details you need to keep track of. These sample business plans for machinery and hardware supplies businesses will help you make sure you get your business plan right, and will set the stage for the future success of your business.

If you’re looking to develop a more modern business plan, we recommend you try LivePlan . It contains the same templates and information you see here, but with additional guidance to help you develop the perfect plan.

The quickest way to turn a business idea into a business plan

Fill-in-the-blanks and automatic financials make it easy.

No thanks, I prefer writing 40-page documents.

Discover the world’s #1 plan building software