How to open a successful hardware store

February 08, 2023

The general discount of Hardware products in hardware stores can basically reach 4-5 times, but after deducting rent, freight, taxes and staff wages, its profit is basically maintained at about 15%-20%, so now many businesses open several stores in the market at the same time, selling Hardware Screws, Lag Screw, Pan Head Screw, etc., increase sales, otherwise it won't generate much profit.

To open a hardware store to do business, we must consider the risks in three areas.

The first is market rent and customer base. When the store is selected, if the market is lack of popularity and the rent is not cheap, then even if the business has another level, it will certainly lose money.

Secondly, professional knowledge is also an important link. If you have not previously engaged in the hardware industry, you are not professional in the selection of varieties and quality assessment, and the price trend is even more unclear, because suppliers will slightly increase the supply price. As a result, they have reduced their profits, so it is recommended not to engage in this industry.

Third, do not have a certain financial strength do not rush to open hardware building materials store, because now there are many varieties of decoration hardware, specifications, seasonality is also very strong, outdated style is very easy to backlog, each purchase needs funds to be close to 10 Ten thousand yuan, in case of pressure, the risk is great.

There are two kinds of hardware store purchase channels: Wenzhou and Luqiao or Guangzhou. Relatively speaking, the prices of hardware products in Wenzhou and Luqiao are lower, and discounts are also relatively favorable, but the quality and quality are worse than in Guangzhou, so they basically do not purchase from Wenzhou.

Hardware Screws