Home improvement businesses can be great franchising opportunities, but it’s important to choose one that’s a good fit for you. For example, both a hardware store franchise and a tree and lawn care franchise are well suited for people with a passion for home improvement. Let’s look at what it takes to run a hardware store, the challenges inherent to hardware store franchise opportunities, and how a tree and lawn care franchise like Joshua Tree Experts compares to them.
Hardware Franchise Requirements
There are several important elements to success when running a hardware store franchise. Some of the most important elements include the following:
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A suitable location – Hardware stores are primarily retail businesses, so having good locations is crucial. You need to locate your store where there’s easy access for foot traffic and good visibility to the public.
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Hardware and tool knowledge – It’s important for you to be knowledgeable about hardware products and tools, and to stay informed about new products that come onto the market. A hardware store needs to be stocked with a variety of quality hardware materials and tools.
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A reliable supply chain – A retail business like a hardware store needs to keep its shelves stocked, so dependable suppliers and an efficient supply route are must-have qualities for your business.
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Competitive pricing – The hardware store industry is a competitive one, so it’s important to price your goods to sell, but still make a profit. Finding this balance will help you cover your expenses and avoid losing customers.
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Efficient store layout – Customers are sometimes in a hurry, and even when they’re browsing, they like to know where to find the type of merchandise that interests them. Your store needs to be arranged so customers can easily find what they need.
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Knowledgeable, friendly staff – Customers doing home improvement frequently need advice. Your staff must have working knowledge on how to approach various home improvement challenges and have good attitudes for assisting customers with their projects.
Wrenches in the Works
A hardware store franchise can be profitable and successful, but there are a variety of difficulties that come with it. For starters, as a retail business, a hardware store is reliant on its supply chain; interruptions can mean losing business or having trouble keeping shelves stocked with popular items. You also have to keep regular business hours to be readily available to the public, and may even have to work on holidays.
Hardware stores also tend to see a high turnover rate. Retail consultancy The International Retail Academy reported in November 2022 the average turnover rate for retail businesses was 60.5% per year in the U.S., so you have to be ready to hire and train new staff frequently.
Selling hardware also doesn’t lend itself to a home business, so a physical location is practically a requirement. Lastly, the hardware store industry is well-populated, so you’re likely to have strong competition.
Greener Pastures in Lawn Care Franchising
Selling hardware may not be the best fit for you, even with a passion for home improvement. Fortunately, there are other options, like a Joshua Tree Experts tree and lawn care franchise. Market analysts IBISWorld reported in April 2024 the landscaping industry in the U.S. has a market value of $153.4 billion, offering considerable profit potential.
Tree and lawn care offers several benefits you wouldn’t find running a hardware store. First, unlike a retail operation, a service-based business gives you more flexibility with scheduling, allowing you to schedule service times that work for both you and your client. Also, while you will need a reliable source for business supplies like fertilizer, herbicide, grass seed, etc., you’re far less dependent on your supply chain than a retail business that needs to frequently restock.
A tree and lawn care franchise like Joshua Tree Experts can also be run as a home-based business, thanks to a flexible business model that focuses on going to the client’s location instead of bringing in customers to a store. Lastly, you and your staff are also able to focus on learning and training in one area of home improvement -- landscape care – which is more streamlined than offering multiple types of DIY work.
Choosing the right business is a decision that deserves careful consideration. While you may find success in selling hardware, you might prefer the flexibility, accessibility, and potential profitability in a tree and lawn care franchise like Joshua Tree Experts.
Sow Seeds for Success with Joshua Tree Experts
We welcome the opportunity to tell you more about the benefits of joining our lawn care franchise. Submit an inquiry form today to learn more about franchising with Joshua Tree Experts.
