While you may not like to think about it, you need to plan for what will happen if you are abruptly unable to continue in leadership. To do this kind of succession planning, there are a variety of legal and …

At its Spring and Summer Buying Market, held Jan. 10-12 at the Minneapolis Convention Center in Minneapolis, United Hardware helped retailers start off the new year with a diverse mix of vendors, discounted buys and a focus on the power …

Business training and a long family history in entrepreneurship still weren’t enough to prepare Margaret Clark for the challenges of passing a business from one generation to the next. The seventh-generation owner of Clarks Hardware in Ellicott City, Maryland, Clark …

The dump bin is a fairly simple concept. Grab a big container and dump a lot of product in it. NRHA’s 2016 Merchandising for Profit Study found products placed in a permanent dump bin have an 86 percent sales lift …

Employing family members can be tricky business. To your benefit, common culture, work ethic, trust and loyalty often run strong among family members who work together. However, having relatives on staff or in leadership can also present a challenge. What …

Retailers working with family know it can be hard to be objective when employing family members. You might have more tolerance with the struggles your own family members face than you would with those of another employee. Addressing issues with …

When consumers decide where to spend their hard-earned dollars, price is a big consideration. To help retailers boost their knowledge of pricing fundamentals, the North American Retail Hardware Association (NRHA) has developed a new online course in Basic Retail Pricing. The …

When competitors enter your territory, it’s tempting to wield price as the weapon of choice. However, an all-out price war rarely leaves a clear winner. You’re likely to sustain significant damage to your reputation if shoppers start to equate low …