Opportunity
Problem
Today, 40% of the area’s homes are owned and occupied by women. Women also own 60% of the area’s rental properties. It is more often than not a woman who visits the hardware store to get repair parts or advice. The mega-store chains dominate today’s hardware store. These stores are uninviting, cold, and often require more driving.
Solution
Clara’s Hardware will provide quality hardware products in an easy-to-use shopping environment. Our customers will be able get help quickly and will leave the shop ready to finish the job correctly the first time. Clara’, Hardware will continue to focus on meeting seasonal demands of its customers as well as providing top-quality products at fair prices. Clara’s Hardware will travel an additional 15 minutes to reach a mega-hardware retailer, which can be too far and expensive to entertain.
Market
The South Gate area of Gilmore has seen dramatic changes in the demographics for home ownership. Today, women own more than 40% the area’s houses. In addition, 60% are women who own rentals in the region. Most often, it’s a woman who now heads to the hardware shop for parts and advice. Today’s hardware store, which more and more are dominated by the mega-store chains, are cold, uninviting and usually involve more driving time. Clara’s Hardware is uniquely positioned to take advantage of this new fact of life. Clara’s Hardware, conveniently located to service the South Gate, offers parts, material, advice, and assistance with any home-related repair. Customers are encouraged to identify the products they desire as soon as they walk into the store.
Concurrence
Clara’s hardware will be competing against:
True Value Hardware chain stores: The new True Value hardware stores are designed specifically for women. In addition to better lighting and organization, there’s “an expanded assortment of decorative door knobs and drawer pulls.”
Mom and pop owned stores like McGukin Hardware. This store stocks hardware, as well as other goods so that women need only go to one place to purchase everything they want.
While there are many other shops in the vicinity, none of them have the same views as clara.
Why Us?
Clara believes a local hardware shop can offer a reasonable selection of the most essential product areas, be affordable in pricing, provide an environment that encourages repeat business, and give the customer a pleasant shopping experience.
Expectations
Forecast
The store will be efficiently laid out to increase sales and give customers the best possible attention. Clara’s Hardware is expected to grow at a steady pace. The store will be profitable in six months.
Financial Highlights per Year
Financing Required
Clara Johnson (founder) will donate $80,000.
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