Hardware Retailing

NOV 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/889894

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Page 68 of 78

This is why when you do a major renovation, it needs to include all areas of your operation. You do not want to spend $15,000 on an exterior update, only to have them come in and be underwhelmed by your store's layout, product selection and interior design. You get one shot to make a good first impression. If you are going to do it, do it right. You should plan for and execute a major store renovation about every 10 years. If you were to sign a franchise agreement for a restaurant, they build in major remodels as part of the agreement. Remodeling the store, upgrading the design and redoing the interior is expected as a standard cost of doing business. I would argue if it has been more than 10 years since your operation has executed a major store design project, your current design has lost your operation sales and customers. Let me give you two reasons why you should regularly evaluate your operation's appearance. The Silent Salesperson If a customer says to you, "I've always wanted to stop in here," it is actually customer-speak for, "I've always thought about shopping here, but your store just never looked that appealing." These are the customers you are hoping to reach. They've seen your store. They knew what products and services you've offered, but they never wanted to stop because something about the way your store looks told them to stay away. If you want a simple way to think about how many potential customers you may be missing, find the average daily traffic count for your road and then compare it to average transactions. While this is not a totally scientific business metric, it will give you a good indication of what you could be missing! " Successful exterior design is much more than a fresh coat of paint. You need to partner with a professional designer who can help you reimagine the outside of your store as if it were a silent salesperson. " Ph: 800.444.7313 Complete Program #302167 Starter Program #302166

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