Home » Association » 4 Ways to Prepare Your Business for the Future

4 Ways to Prepare Your Business for the Future

Taking advantage of the tools at your disposal is the next step in addressing the effects consolidation is having in the industry. Discover solutions to the challenges that need to be addressed in your operation before selling or buying.

To Improve Company Culture

  • Organizational development programs. A healthy team culture is key to many chains acquiring stores right now. NHPA offers multiple initiatives to improve company culture including Vision Process, TeamBuilder and Everything DiSC®, in addition to consulting and mentoring services. Visit YourNPA.org/development to learn more. 

To Build Better Leaders

  • Retail Management Certification Program. Having leaders in place that can carry on the operation when ownership sells will give potential buyers more reason to acquire your operation. This college-level course strengthens the management capabilities of owners and high-potential employees and provides actionable knowledge to make a difference in your store immediately. Visit YourNHPA.org/rmcp to learn more. 

To Improve Finances

  • Cost of Doing Business Study. Most acquisitions come down to cash flow and healthy finances. This annual study provides detailed financial information from independent home improvement retailers in U.S. and can be used to determine ways to increase profits. Visit YourNHPA.org/codb in September to purchase the 2023 study.

To Sell Your Operation

  • NHPA Retail Marketplace. Provides operators a cost-effective way to advertise their businesses for sale, their interest in buying or open job positions. Visit YourNHPA.org/marketplace for more information.

Where Else to Find Support for Succession Planning, Selling or Acquisition

  • The North American Hardware and Paint Association
  • Wholesalers and co-ops
  • Financial and business planning institutes and associations 

Learn about other programs NHPA offers by browsing the Academy Catalogue.

About Carly Froderman

Check Also

Vendors Share Industry Best Practices at IHI Conference

Attendees of the Independent Home Improvement Conference (IHI Conference) will have the opportunity to attend …