STARTING A A HARDWARE STORE

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 A HARDWARE STORE. 

Is it a good business.


With so many people opting to build rather than buying houses because of the high prices in lusaka and developed cities withiin zambia and the fact that many people don't qualify for mortgage bonds.


I see alot of immigrants  building these hardware stores in developing areas. I think we should also take advantage I say zambians should take advantage😂😂.


The reason some of these small hardware stores built in rural developing areas will be successful it's because of the delivery fees. Alot of people want to cut costs when building so they would rather cut costs on deliveries fees. They prefer using a hardware that is closer to their site. 


Although a good performing hardware store makes an average net profit of 10% on its daily sales, 80% of those who venture into this business close their shop in less than 2 years due to losses and cash-flow problems.


Who is this business right for?


This type of business is usually attractive to handymen, tradesmen, and those who enjoy home improvement activities. The owner should be able to advise customers on purchases and have experience with the products being sold in the store.

Long hours aren’t always necessary, but weekends might be. Having a flexible schedule helps, especially during the first few years of operation.


What are some skills and experiences that will help you build a successful Hardware store business?


Running a hardware store requires a strong business sense, but no specific degree or licensing other than local business or state licensing, if required in your area like council permit and pacra documents which I can help you to get them by contacting me on this email. jaspinvusi@gmail.com.


 Most hardware store owners, however, do have experience working for a hardware store, are former construction workers, contractors, handymen, or tradesmen.


What are the costs involved in opening a Hardware store business?


A small hardware store can be started for less than K100,000. Costs include rent for the building, start-up inventory, display setup, and cash reserve for staffing and labor costs. You’ll also want insurance.

Start-up inventory will likely run between k50,000 and k75,000. Rent, insurance, and other related costs will vary depending on your location, In general, you should not spend more than 20% to 30% of your total revenue on rent. Insurance should cover liability as well as loss of your inventory. Premiums for that insurance should make up no more than 5% to 10% of the total value of your business.


What happens during a typical day at a Hardware store business?


Day-to-day activities include meeting with customers on the floor and helping them source materials for their DIY projects. Checking inventory, making purchases from suppliers, and managing staff are also essential aspects of the job.

If you are interested in this business and want to be mentored kindly send me your email address to 

jaspinvusi@gmail.com


Have a productive day.

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