If you have searched for “hardware store business plan”, you are probably either looking to launch a hardware store or looking to raise capital for your hardware store. 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 can develop a high quality and detailed hardware store business plan for you. Call us at (888) 300-3090 to speak to a Managing Director and for a free consultation.