Strategies to Get Your Store Started
You might not have a background in the builders' hardware industry, but the steady growth in real estate makes the niche a prospective lucrative venture. The demand to own a home has gone up and so has the need for home equipment. Such a market poses a problem to a newbie, particularly if there are seasoned specialty hardware stores in your area. While it is not a guarantee that your store will be the go-to shop almost immediately, some strategies can help you to keep up with the competition.
Have Different Finishes -- Your builders' hardware store will be visited by DIY enthusiasts as well as professional builders. These clients have different preferences. Therefore, you should make sure that you stock hardware with different finishes. For instance, you can have doorknobs that have bright brass, gold, and even black anodized finishes. The goal is to make your store a one-stop shop for your clients. At some point, you might run out of a particular finish; however, if you have a wide variety of other types of finishes, you might just convince the customer to try a different one and end up closing a sale.
Stock Thematic Hardware -- As mentioned earlier, customers have varying tastes, which determine the type of theme customers want for their kitchen cabinets handles, bathroom doorknobs, or their toddler's bedroom. Therefore, you must be ready to cater to your clients' thematic drive. For instance, you can stock sporty knobs for a sports room, fairy glass pulls for a girl's dressing wardrobe, and simple angular door handles for the living room. In short, your store must be stocked with hardware that will allow customers to explore their creative sides.
Subscribe to Industry Magazines -- Information can be the difference between success and failure. With trends changing every season, having the right information at the right time helps keep customer traffic to your store. Therefore, ensure that you subscribe to different industry magazines where you can learn emerging trends. Some clients will change their door, cabinet hinges, doorknobs, and dresser pulls every time a new trend appears. You should be able to cater to this type of customer if you keep yourself updated.
Use a Full-Board Display -- If your store stocks a variety of builders' hardware, the display might not help to change a customer's mind if some products stay hidden. Some stores just have one piece of a cabinet, window, or door hardware on display. Your clients need to see and feel the options that you have. A full-board display allows customers an opportunity to consider various options. New customers are more likely to make a purchase decision after touching and feeling the product.