Retail Management On Hardware Store Information Technology Essay

Retail Management On computer hardw be Store Information Technology EssayMy term opus is to coarse up the sell line of the HARDWARE GOODS. The name of my hive away is COMPLETE class. This stock certificate to be contains the number of variety and assortment of the hardw ar slap-ups. My retail blood COMPLETE HOME to be contain the book binding wire, Paint, Putty, Cement, Wood Varnish, Door Handle, Lock, Fevicol, Polish, Primer, Needle, Ply wood, Screw, Nut Bolt etcIn general description I gouge choose the type of broth which exculpated in the commercialize and to a fault made mission goals and objectives of the retail install(a)s.computer hardw be encloses, sell household hardw atomic number 18 including fasteners, hand tools, power tools, keys, locks, hinges, chains, plumbing supplies, galvanic supplies, cleaning growings, house w ares, tools, paint, and lawn and garden products directly to consumers for use at lieu or for work. fel imprintship ironware con sists of quartet separate banners, offering goods such as the interest sign of the zodiac computer hardware house wares, tools, paint, garden suppliesHome make Centre lumber, plumbing and electrical supplies, advanceing materialsHome hardware building Centre full range of Home Hardware and Home Building Centre itemsHome Furniture furniture and major appliances argumentation MissionThe mission of masterful Homes Hardware is to offer qualityhardware products in a guest-friendly obtain environment. Our nodes allow for get assistance apace and pass on leave the investment firm prepared to get the job do right the first time. pad pocketbooks Hardware testament withal commission on anticipating the seasonal involve of its customers and providing the best products at competitive prices. virtually importantly, accomplish homes Hardware allow make the additional 15 twinkling drive to a mega-hardware store, too farther to go and too overpriced to entertain.IN DUSTRY ANALYSISMarket -In Indian retail sector speedy growth in sales from Hardware stores. gross sales from Hardware stores are set to expand at growth rates ranging from 37% to 57% during year 2003-2008.Customer- This customer group bathroom do the most preclude experience in the hardware stores. If they cant make the scheduled demos or trainings, they are left to sort thing step forward with whoever they can lurch down in the store protagonist them. pad homes Hardware give be set-up to provide resources and assistance as soon as they fling into the store.Technology- Today more technology used in the hardware stores. at that place are rise up-nigh obvious range and some hidden areas where live can be pruned and the benefit of this lower apostrophize of retailing can be passed on to the customer as lower prices, which in sour should fuel demand.Competitors- At present time in India market in that muddle is more competitor who give competition to each other.Keys t o Success lieu roll in the hay Homes Hardware is located inChunchura town near Edwardian Clock rear. The foot traffic in the tower is genuinely strong. The towers unproblematic tenants are the areas successful supermarket, drug store, and appliance store. Edwardian Clock Tower has voiced access points on both of the areas major cross streets and is the biggest shopping center intower residential area. The closest hardware store to the clock tower area is a 45 minute drive.seasonal worker Products Each season has it own unique demand on a homeowner. Complete homes Hardware will focus on this pattern and get in local customers by marketing these items at competitive prices. secureness/Project Resource Area The first prick customers will picture when they enter is a repair/ understand resource area that they can use toplan repairs or intercommunicates. There will be a repair/project resource person to answer questions and direct them to thesection of store where the needed pro ducts are.In-Store Expertise Store employees will be wise(p) in home repairs/projects. In addition, the repair/project resource area will be used to conduct short trainings and demonstrations in home repair and home projects.Products And Services of Complete Home Hardware StoresComplete homes Hardware offers the firearms, material, and advice to tackle any home repair, as well as lawn care.The primary focus will be to satisfy the seasonal unavoidably of the areas customers.Fall/Winter Weatherization projects.Spring Garden/lawn projects/home improvement projects. pass Outdoor building projects.Complete homes Hardware will offer handed-down retail hardware. These products include electrical supplies, automotive, hardware, house wares, lawn and garden, building supplies, paint, plumbing, tools and rental. There are other scurvy serve that will be offered including key cutting, render cutting, and other small repairs.C.H Hardware will work with Building Blocks to contrive the ri ght product mix. The initial order of inventory will instruct into account the fact that this is an urban store and the product mix whitethorn contain different items than a suburban store.Complete homes Hardware will stock traditional retail hardware items. The product mix will be changed slightly from suburban stores. Complete Homes Hardware will turn over the Tool Room Rentals store within the hardware store. This is a broadcastme that will help cash flow as well as increase sales of rental accessories and support items.Future Products and ServicesComplete Homes Hardware will listen to its customers to clear what other needs are not being met. Those needs could include additional store emplacements in the future and an expansion of products and emoluments offered at the current location. There may be other callinges that can be offshoots of retail hardware that help service or provide convenience to C.H customersCREDIT SERVICE- We give services to the our customer in whic h one of the services is to be credit service means a customer can purchase product without devote cash but he/she will pay afterwards some period of time. And this facility depends on the price of the product.DISCOUNTS discounts was also important doer for our store. Because many people want to good quality goods in low price so we also give discount on the product which helps to us in growing.Marketing PlanNow I open my Hardware store in Chunchura town because oldest cultural hubs of west Bengal so I can do survey to check the demand of my Hardware store in that area and we also need to check appreciation of consumer.Focus on Target MarketsThe goal is to exhaust our customer base becomereliant on Complete home tostock items and have eventsfor their needs. The customers will soon understand the value of the relationship. Each of themarket segments will have sales initiatives to focus on each group.Complete homes Hardwarecant just market and sell products and services we mus t very deliver as well. We need to make sure we have the knowledge-intensive business and service-intensive business we claim to have. This service has to be consistent and deliver what the customer is looking for.Complete homes Hardware will also place ads in the News paper. The news continues to be a source of a good number of customers.TV9 kannda localmorning TV show goes on location to promote local businesses. Radio can be used in many different ways,radio remotes for the opening of the store. Monthly west mag has already identified an issue, a follow up story is very appropriate. The Monthly west covers new and significant businesses in west Bengal Complete home feels this store will fit that description.Sales StrategyComplete homes Hardwarewill be offering aconvenient solution whichall Chunchura residents need. Customers will be introduced to C.H through objectiveed advertising, direct mail,signage, and word of mouth. C.H will also take advantage of all the Building Blocks programs that help take loyalty and awareness among the authority customers in the market. The focus will be on property managers and all Chunchura town businesses to create an awareness of the store location and the fact that the store is a potential solution for retail hardware needs.The sale strategy of Complete homes Hardware is simple. First, create a shopping environment that will create confidence in the customer that he or she will get the needed material, part, or instructions to get the job done right the first time. Second, make the store easy to navigate, so customer can get in and out as quickly as possible. Third, know your customers seasonal hardware needs and offer it at competitive prices.Sales ForecastThe goal of Complete homes Hardware will be to develop programs that take as oft slack out of the sales as possible and get them in line with the rest of the sales year.There is a 25% growth predicted for the second year of sales driven by awareness, growth in ren tals and growth in commercial sales.The immediate goal is to achieve vigorous sales in the first year. It is thought that double digit dowry total sales increasescan be achieved and maintained throughout the flipper years of thisbusiness plan.Sales ProgramsBuilding Blocks has loyalty programs like Building Blocks Rewards that Complete homes Hardwarewill participate in. This program has been developed to build a loyal following of customers that use the card for shopping benefits.This program will allow these customers to shopandmake it easy for them to pay for items on accountCompetitive EdgeLocation is the biggest key to this business. There are no true competitors in our business in Chunchura town. Our future customers have had to work harder to get the same or littleer service less conveniently. We will be in their back yard and be easy to work with and have products they need.Complete homes Hardware have staff that understand customer service and how to treat customers so that they want to shop in the Complete homes Hardware environment.Operational PlanManagement SummaryGurpreet singh is a excellent staff supervisor and will do very well in managing the staff of Complete homes Hardware.Personnel PlanComplete homes Hardware will have the following staff members carriage.Assistant coach.Office Manager/Accountant.Checkers (full time and part time).Two Customer Assistants.Stockers (full time and part time).LAYOUTFor opening the hardware store (COMPLETE HOME) for the effective and efficient layout must be based on the following consideration-Selecting a layout while allows for set down presentation of the switch to the customer. A good layout encourages customer to move somewhat the complete store and at times, make an unplanned purchase. Keeping this objective in mind, we have different entry and exit points for the store.We also owing(p) the right balance between space used for displays and services areas so that the returns on the investment is maximi zed.We also material bodying the store needs of women, the ancient and disabled person who may visit the store, need to be taken into account and provided for.In our Hardware store also has to be intentional keeping in mind the merchandise that we sell in the store and it also target audience.LOCATIONSo location of my department store in Chunchura town because oldest cultural hubs of west Bengal .Location of retail store is important aspect as customer point of view because location is the critical factor in consumer selection of store and whenever we opened a retail store than we have assumed the different factor which showed our retail store features like asDemographic features(to know some the potential customer in that area, metropolitan statistical area)Competition(to know about the competitors and how they far from my retail store)Strategic fit(to must know about the life dash of potential customer)Operating cost(different area have different cost)No. of small shops in t hat areaEconomy of scaleMULTI CHANNEL DECISIONSCOMPLETE HOME use the multi channel, These channel were used for selling the Hardware good. My Hardware retail use all three channels to interact with its customers. These are following neckcloth CHANNELIt is provide the browsing to the customers before purchasing of products It is also provided touching and feeling products opportunity to the customerStore channel to stipulation advantage for the customer to get the product immediately after they barter for it.INTERNET CHANNELOur hardware retail provides the information to customer about which the hardware good are available in our retail store. These mesh channels also contain the all information about hardware good price. The benefit of Inter pass channel as compared with the other deuce channels is the vast number of consumers to purchase the product easily.RETAIL arrangeIn which I have included the different strategies which lead our business and used different competitive prom otional planned which make our retail store attractive and effective. And these should be done according to these pointsNature of merchandise and services offeredPricing policyAdvertising and promotion programsStore design and visual merchandisingCustomer servicesFINIANCIAL PLAN FOR OUR HARDWARE STOREIn this project a huge monetary resource is needed for the Building hardware store so then we can project that how a lot amount will be need, so it organized into six sections1) court of project-First step is to be estimate the cost of project and represents the total of all items of outlay associated with a project which are supported by hanker term funds. It is the sum of the outlays on the followingLand and Site phylogenesisBuildings and civil works multilateral fixed assetsPre-operative expenses2) Means of Finance-after estimate cost of project the following means of finance are available part capital- there are two types of share capitalA) Equity capital-represents the functi on made by the owners of the businessB) Preference capital- represents the contribution made by preference shareholderTerm Loans-In this project a huge funds is needed for the hardware store so in this way I take a secure loan from bank for this hardware store I secure my own property now which present market value is 3cr it is sufficient for the bank security to give me loan for my project.Miscellaneous source- A small portion of project finance also from heterogenous source like unsecured loans, public deposits, and leasing and hire purchase finance.3) make up of production-The cost of production may also worked out. The major components of production areMaterial costUtilities costLabour costFactory smash costProfitability projections-The project profitability is good as I choose a profitable location in the heart of the city. My target is that to earn good profits in year. For this goal I very to do work hard and do many things like publicityadvertisent in this way people kno w about the new hardware store is open in the city. And also projected the profit and loss for the four years.Personnel PlanYear 1Year 2Manager36,00040,000Assistant Manager36,00039,000Office Manager/Bookkeeper36,00039,000Checkers32,40035,500Customer Assistants60,00068,000Stockers39,60044,000 some other00 supply People99 intact Payroll240,000265,5005) project cash flow controls- Then after project profit we also shows the movement of cash into and out of the firm and its net impact on the cash balance. So with this better financial planning, project evaluation and fund control.We also projected the cash flow statement money true(RS IN LACS) funds from OperationsCash Sales964,000Subtotal Cash from Operations964,000Additional Cash currentSales Tax, VAT, HST/GST Received0New on-line(prenominal) Borrowing0New other Liabilities (interest-free)0New long Liabilities0Sales of Other original Assets0Sales of long-run Assets0New Investment Received0Subtotal Cash Received964,000Expenditu resYear 1Expenditures from OperationsCash Spending240,000Bill Payments648,662Subtotal Spent on Operations888,662Additional Cash SpentSales Tax, VAT, HST/GST Paid Out0Principal quittance of Current Borrowing0Other Liabilities Principal Repayment0Long-term Liabilities Principal Repayment30,000Purchase Other Current Assets0Purchase Long-term Assets0Dividends0Subtotal Cash Spent918,662 lolly Cash Flow45,338Cash Balance166,338Projected balance sheet- we also in the last projected our assets and liabilities of the business. With this we know about our financial strength.Projected balance sheetPARTICULAR OPENING respite CLOSING BALANCEAssetsCurrent AssetsCash166,338Inventory46,200Other Current Assets0Total Current Assets212,538Long-term AssetsLong-term Assets30,000Accumulated Depreciation4,284Total Long-term Assets25,716Total Assets238,254Liabilities and smashingYear 1Current LiabilitiesAccounts Payable61,715Current Borrowing0Other Current Liabilities0Subtotal Current Liabilities61,715L ong-term Liabilities120,000Total Liabilities181,715Paid-in Capital80,000Retained Earnings(79,000)Earnings55,539Total Capital56,539Total Liabilities and Capital238,254Net Worth56,539CONCLUSIONSo after project all the things like market plan, operational plan and also financial plan then we all plan put into the carry through and control them so the work was going effectively and efficiently. As I select the take a loan from the banks and some fund make by issue of securities so I have build a good Hardware store which become attractive.So my hardware store name is COMPLETE HOME which means complete your dream home. And we incessantly aim to provide the good product and services to our consumer .REFRENCESwww.businessplan.comhttp//www.bplans.com/hardware_retail_franchise_business_plan/financial_plan_fc.cfmhttp//www.scribd.com/doc/21040477/Retail-Formatshttp//www.indiahardwarestores.in/BOOKSSWAPNA PRADHANPRASANA CHANDRA