Franchise Spotlight: Hardware
With DIY culture booming, Hardware is a sector that is successfully franchised and looks set to grow.
The Hardware industry offers a host of franchise brands, most of which provide tools and materials for tradespeople and individuals alike. Despite the Covid-19 pandemic forcing many businesses to close, Hardware saw an industry revenue increase of 11.3% in 2020 - not bad for a sector which can boast an impressive revenue of $30.6 billion between 2015-2020 (IBISWorld).
Hardware was deemed essential during the pandemic, a time during which many stay-at-home DIY enthusiasts were born. There is no doubt that this is a profitable sector to enter and the marketing tools of a recognized brand will help entice customers as you build your client base. Established in 1982, Ace Hardware has over 5000 franchises.
Franchisees can operate their own retail hardware store or, for tradespeople looking to utilize their skills, Ace also franchises an Ace Handyman Service business. Another successfully franchised model is Cornwell Quality Tools which provide training not only in their tools but also in sales and business management.
Hardware Industry Analysis
Experience in hardware or home improvement is not necessary to enter this sector but a franchisee with an interest in retail, business acumen and a willingness to learn and improve will be key. Delivering customer satisfaction and building good relationships with tradespeople will be vital for success.
Most franchises will offer site set up and ongoing support, industry training and mentoring, access to the best products at discount prices and will guide and advise you through industry trends.
There will be a lot to learn initially - as being an expert in the tools and equipment you’re providing will be important - and if you are delivering products then you might expect long days driving large vehicles. However, this can be a hugely rewarding industry to be a part of for those who enjoy meeting new people and building relationships.
With Hardware being deemed essential during a pandemic this is a sector which isn’t going anywhere and franchisees can feel confident they are investing in a business which, with their passion and energy behind it, will continue to thrive.