DTEJD1997 Posted March 17, 2018 Share Posted March 17, 2018 Hey all: I've been doing some work on my buildings lately. In doing so, I've been going to hardware stores frequently. I am happy to report that the buildings passed inspection finally. So now the real work begins! I've also been driving in/through Detroit proper lately and have noticed something kind of unusual... There are a number of small, family owned, independent hardware stores in some of the WORST neighborhoods imaginable. These places have been there for a number of years....20+ years, sometimes SIGNIFICANTLY longer. They are not flashy...they appear cluttered and something out of the 50's or 60's. They do not appear organized at first glance but their clerks know EXACTLY where everything is and what you might need. They often provide services such as key making, paint mixing, pipe bending, glass cutting, blade sharpening and so on. I also think they are frequently members of the "True Value" purchasing cooperative. I also suppose that a good number of these stores own the real estate that they are in. I think that they are profitable even when a neighborhood goes down in quality. Perhaps they are even counter to the economic/prosperity cycle? That is, a person living on the East side of Detroit is more apt to make repairs to their home/car/possessions than somebody say in the Grosse Pointes? The resident of Grosse Pointe will hire somebody to have it done, OR they may replace the item instead of fixing or repairing it? The Detroit resident is going to try and do it themselves? Further, the margins/profitability of these stores may be big? Maybe they have dedicated customers that will travel some distance to shop at a store they know and are comfortable with? Could there perhaps be other considerations that I am missing/overlooking? So I would submit that this may be an interesting/offbeat/overlooked business? Anybody have any other candidates? Quote Link to comment Share on other sites More sharing options...
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