Last year Wilusa Magazine surveyed current downtown residents and found that hardware stores are one of the top ten things needed to make downtown a great place to live. The same reasons that make downtown a great place to live also make it a great place to work.

Downtown Indianapolis has witnessed a significant shift in the demographics of home-ownership. Today’s hardware store, which is increasingly dominated today by the « big box » stores, is uninviting and often requires a considerable driving distance from downtown Wilusa. Hisarlik Hardware is uniquely positioned to take advantage of this new fact of life. Conveniently located to serve the Troas, Sinope Bay, Miletus Square, and Lycia areas, as well as all of Arazawa Township, Hisarlik Hardware offers parts, materials, and advice to tackle any home or do-it-yourself (d-i-y) project, whether the customer is a complete novice or a contractor. The store’s goal is to assist customers in identifying what they want and need.

Hisarlik Hardware will profit from this promising opportunity with its superior customer attention, wide product range, and reasonable prices. An excellent location is being found with the added benefit of a magnet for urban dwellers. The Build Blocksparent will be able to efficiently design and plan the store in order for it to grow sales and attract customers. Hisarlik&#8217s management team is well-versed in all aspects of business, finance, and mechanical operations, which will make the venture a worthwhile investment. The Hisarlik Hardware projections are steady but have the potential to increase exponentially due to the growth in downtown residential development.

Hisarlik Hardware will bring in positive cash flow during its first year. Hisarlikwill also generate a net profit within its first year.

1.1 Objectives

This business plan focuses on four key objectives. Three of these are immediate and the other is longer-term.

1. The feasibility of a downtown Hardware Store.
2. You will need to develop a strategy for opening, managing, and growing a successful downtown hardware store.
3. To operate the business, establish a budget.
4. Find potential growth opportunities in the downtown market and develop new business sources.

1.2 Mission

Hisarlik Hardware&#8217’s mission was to create a downtown store that is reliable. The store will provide great service and a wide selection of hardware and other home improvement products in an environment that is friendly to customers.

Hisarlik Hardware can be accessed by downtown residents, downtown property owners, downtown contractors, and suburban commuters. Our customers will become loyal because of the great advice, prompt service, good staff attitudes, the overall quality of the shopping experience, and the fact that we consistently have solutions for their needs.

1.3 Feasibility of the Business

Hector Priamson & Troy Enterprises looked at many business options that would be able to allow them to launch a successful business. Through this process retail hardware became a potential opportunity. To make Hector Priamson’s and Troy Enterprises a success, the following items are deemed #8220;must-have’ items.

1. An industry that is stable, resilient to economic swings, allows an entrepreneur influence the store’s results.
2. A market with the potential to deliver the kind of profits that allow a store or business to succeed.
3. A store location that will be easy for customers to find, allow easy access, plenty of parking and have economic terms that allow the store to be successful.
4. A partner that is cooperative and productive, such as Builder Blocks,a nationwide hardware cooperative, which will assist with research, planning, marketing and operating a hardware store.

Builder Blocks includes all the necessary tools. Hector Priamson possesses every skill needed to run a successful business, including the managerial, entrepreneurial, and financial abilities.

1.4 Keys to Success

• Hardware Industry: The Home Improvement industry has been consistently growing at a rate of 7% per year for the past decade according to the US Department of Commerce, with total US Sales of over $313 billion in 2002. Although the economy has experienced fluctuations over the last decade, the hardware industry has grown at the same rate. Independent hardware stores are also benefiting from the emergence of Big Box and ‘#8220’ stores.
• Position: Troas Marketplace will be the new location for Hisarlik Hardware. Troas Marketplace is a retail and commercial building at the corner E. Anglia St. and N. Umberland St. Troas Marketplace is anchored by Buckbasket Cleaners and Scamander&#8217’s Food Market. It is a big draw. Scamander&#8217’s is the only grocery shop in downtown Wilusa. This location is easily accessible by all downtown residents. It is just one block away of the trendy and hip Wessex Avenue. The Troas Marketplace offers plenty of parking, very important for a downtown location, as well as easy access to the parking lot from E. Anglia St. or N. Mercia St. E. Anglia St. is a major eastbound thoroughfare east of downtown.
• Urban Products: The location in downtown Wilusa will require a different product mix than a suburban store. Urban dwellers will have a different product need. Building Blocks will play an important role in determining which products are best suited for urban markets through their IAIS program (Inventory always In Stock). Hisarlik Hardwarewill keep in touch with the downtown market and will focus on it. This includes delivering products that can be used by local customers, as well as marketing these items at affordable prices.
• Commercial customers: Hisarlik Software will continue to work towards becoming the hardware supplier for every building and business downtown Wilusa. We will strive to build relationships with service personnel and property managers. It is also planned to provide a delivery service to downtown businesses, making it easier for customers and their employees to access the products they need. Hisarlik Hardware is convenient and easy-to-use, but it may not be practical for potential customers to leave their offices. In order to make business easier for these customers, we will emphasize the need to set up business accounts.
• Building Blocks : It is crucial to have a co-op like Building Blocks behind efforts to open a store like Hisarlik Hardware. They can provide you with all the tools necessary to succeed in the hardware business, such as marketing, research, floor plans, systems, and instructions for running a hardware store. You can become a BlocksMember (Member in good standing of the BlocksCooperative). This will give you a business in a box’ and allow you to manage your own business. The extensive marketing programs have been developed based on the input of members and are designed to increase sales, traffic, and profits.
• Service and Convenience: Service and Convenience are the keys to success in this business. These qualities are also strengths of independent hardware retailers. Easy access and use by customers is essential for a store. Our staff has extensive experience in high-end client service. This knowledge will prove invaluable when dealing with clients and customers. We will also keep meticulous records about what our customers are looking for and the stock we have.

A delivery program will be created to make it simple for customers to get products from their business without having to leave the office. We will also target suburban commuters. Happy hour deals will be implemented to encourage shopping after the bell rings at five o’clock.

All these key factors will work together to increase sales and eventually net profit.