How To Open Hardware Shop

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1. INTRODUCTION

Hardware shop mostly known as DIY shops in western countries as they provide all the things that improves the home décor and building infrastructure also. They sell hardware tools, keys, locks, hinges, wall paints, brushes, mechanical tools, nut screw and pins, plumbing supplies, electrical tools, cleaning accessories, house supplies, lawn and backyard products, and many other things like bathroom accessories, kitchen trolley tools. Thus, having that much importance of all these products in the home, building and offices. The demand for this hardware shop increases. Also, with the increasing home improvement thus this hardware business is constantly emerging its place.

2. CASE STUDY

The following are the case to open the hardware store:

• # INDIAN HARDWARE: The two brothers opened this store of hardware in the year 1965 and gave such a definite blend to the venture calling Indian hardware in Kerala. They were contracted mostly by all the builder, suppliers of the Kerala market. in such cases their venture on the way of emerging. Now not only private but also government and semi government firms rely on them for the supply of hardware. Having supply of door delivery help them to capture all remote places of Kerala.
• # ANUPAM HARDWARE:  This store is in Goregaon east in Mumbai which has been selling all hardware supplies to people from 1984.  They supplies all types of fitting , plumbing. Electrical, mechanical, bathroom accessories, drawer channels, products. They have the best collection of all types of hardware products having very peaceful staff and friendly also. They do have very good marketing skills helps them to grow bigger.

3. BUSINESS IDEAS’S SWOT

i) Strength

• # This hardware shop business can open to household business also.
• # The business need initial investment very low and can be started at low level.
• # The number of employees needed are also low.
• # No risk in starting this business, as no human health and human life is at risk.

ii) Weakness

• # This business can be expanded up to certain limit only.
• # Hardware shop takes time to grow and allow profit to enter.
• # Material and iron accessories need to be prevented from moisture and stored in dry place.

iii) Opportunities

• # Contacting local wall paint colour retail shop, wholesalers, dealers, distributors for the supply of the products and material.
• # Starting the online services and delivering the order.
• # Making the partnership with chain suppliers and the franchise for the selling.

iv) Threats

• # The main threat to the hardware shop is tough competition faced with local as well big merchandiser.
• # There is always the fear of the damaged of the products made of iron from the corrosion.
• # Changing of the government taxation system also affect the hardware shop.

4. MARKETING STRATEGY

The following are the marketing perspectives to open hardware shop:

1. # Contact referrals: At the time of opening the hardware business contact all the known referrals for the supply of the customers and the clients so that at starting there may not any referral problem. Serve their clients the best for the trust gaining.
2. # Quality products: When starting any business gained the clients by the serving quality products to them. Also supply them on time and with full quality assurance and warranty.
3. # Varieties available: At the period of starting allow all the products and brands at your store available. The products of different type, cost, brand, so that customers can’t back from the shop without buying.
4. # Social media: Using social for the promotions, advertisements, order placing and delivering is better option. All these can be managed with the help of social media app easily and promotions also done easily.
5. # Promotions: Promoting the business at the starting of hardware business is very necessary and it must be done with full efforts. Also promoting the business brings the more clients at the store and help in earning profit.
6. # Discounts: Allow some regular discounts for the new customers and also the regular visiting customers. It creates some sought of public relations with the customers and the owner. That is helpful in running business.
7.  # Employees performance: The employees hire must be able to handle clients and the customers peacefully. they must          posses the marketing tactics and the strategies for the betterment of the hardware business. 

 5. LEGAL NEEDS                  

• # Shop Licence (Nagar Nigam / Municipality)
• # Business registration
• # GST registration

6. FINANCIAL PLAN

• # Place/store
• # Raw material
• # Goods
• # Hardware tools, mechanical equipment, plumbing accessories
• # Paint (wall paint, oil paint, spray paint)
• # Paint mixing machine
• # Transportation facility
• # Labours/painters / Contractors (Payments)

 

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