A hardware store business plan is a retail business plan that should include well-developed marketing, operational, and growth strategy. The financial model should be planned on a 5 year basis with monthly detail in year 1 and quarterly detail in year 2-5. The following are a few questions to consider when starting a hardware store business plan:

• Who are the competitors in the area?
• How many major chain hardware stores are in the area (e.g. Home Depot)?
• How many staff will you need to employ?
• Who is your target consumer profile?
• What are the demographic stats of people in your area?
• What is the radius that you can draw customers from on a regular basis?
• How much inventory will you need to keep on hand?

If the process of developing a hardware store can seem to be daunting, you might want to consider hiring a professional company to develop your business plan. Capital West Advisors is one of the most experienced business planning firms in the U.S. Capital West Advisors can develop a high quality and detailed business plan for you. CWA has subscriptions to multiple market research databases. Call us at (888) 300-3090 for a free consultation.