Hardware Retailing

MAY 2017

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

Issue link: http://hardwareretailing.epubxp.com/i/815244

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Page 157 of 224

HR: Where do you see the home improvement industry in the next five years? DBN: In the near future, I think we will see the strong independent retailers taking over more stores. Every year, I hear a story about an owner passing, and his kids weren't interested in the business, and they have to sell what was a viable store. Had we not come along, our second store would have probably closed by now. The owner didn't have a succession plan; he was going to close and liquidate. I think there will be a lot of opportunities for acquiring good stores in both the short and the long term, and I am certainly keeping my eyes open for this. I'm excited for the future. We just had our best year ever at both stores. It would make me very happy if I would have 10 stores one day, helping make other people's lives better, and getting to work with my friends at the same time. It doesn't get any better than that. HR: Discuss the overall value you place in furthering your education and networking with other retailers. DBN: I got involved in a networking group for local businesses about a year after I moved out here. I didn't know anybody, so it seemed like a good idea just to meet people. I joined the chamber of commerce, and eventually was president of the board. I was also secretary for the Lion's Club. Being part of these groups was very important because it helped me develop my business acumen, while making friends at the same time. These networking opportunities helped me to meet like-minded individuals. We get so lost in what we do every day to make things happen and keep things going that we sometimes forget about the bigger picture, especially for those who are managers or owners. You can get lost on the salesfloor and lose sight of the things that can make your business successful. Going to classes like NRHA's Retail Management Certification Program and Do it Best's Leadership Development Institute really reminded me that you can't run a business from the floor. I love the ideas I gather from them. It's not always about doing something the same way someone else does it, but being able to make that concept work for you. These types of gatherings really motivate me to try new ideas and make things happen!

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