Tag Archives: succession planning

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 …

Whether you are building your employee schedule for next month or investing in a new category without knowing how it will perform, you are often asked to make decisions that would be simpler if you had a crystal ball. However, …

In 2020, Hardware Retailing is talking about succession planning in each issue of the magazine. To get the series started, we consulted with Gary Pittsford, president and CEO of Castle Wealth Advisors, a financial advisory firm that has been guiding …

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 …

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 …

You probably always have your favorite hammer, your trusty jigsaw and your adjustable wrench all within arm’s reach, but don’t forget some other critical tools to help your business blow the competition out of the water. Check out this list …

Click the image above to download a PDF of the story. Many independent home improvement businesses are passed down through generations, but you should have a plan no matter who is taking over. Hardware Retailing developed this list based on …

Click the image above to view a PDF of the story. Home improvement retailing is a business where there’s a lot of longevity. It’s not unusual to see a business in its second or third generation, with some dating back …