Small Business Startup
Starting a Nails, Tacks, & Staples Business
This advice is written for those of you who are thinking about starting a nails, tacks, and staples business. Read this before you open up shop.
Wondering how to start a nails, tacks, and staples business? We take you step-by-step from start to success.
Developing a Nails, Tacks and Staples Business Model
Believe it or not, the sale of nails, tacks, and staples can be a potentially lucrative way to earn a living as a small business owner. Hardware stores, general building supply retailers and other businesses regularly purchase large quantities of fasteners, creating B2B opportunities for the right entrepreneurs.
From the beginning of the startup planning process, you will need to focus on the creation of a B2B business model. This will mean developing sales and marketing plans that connect with targeted businesses rather than adopting the types of promotional tactics that are appropriate for a B2C business environment.
Many B2B businesses -- including nail, tack and staple suppliers -- are using online marketing strategies to reach new prospects and to deliver exceptional service to their existing customer bases. Starting with the creation of a strong business website, your startup's web-based marketing initiatives will play a role in the success or failure of your fastener supply company.
How to Create a Network of Nail, Tack and Staple Customers
As a nail, tack and staple supplier, it's your responsibility to deliver a steady supply of products to your customers. But as a business owner, it's important to constantly expand your customer base, leveraging existing customer relationships to add new accounts to your business.
Customer referrals can be a powerful tool in expanding your startup's network of nail, tack and staple buyers. In this industry, the best startup owner's solicit referrals and recommendations from their customers, and may routinely feature customer comments in their marketing materials, on their business website or through other promotional venues.
Recurring Revenue Streams in Nail, Tacks and Staples
Nail, tack and staple vendors have the advantage of recurring revenue streams. Each customer you serve has the potential to become a long-term customer that orders new supplies on a weekly, monthly or more periodic basis.
To protect your startup's recurring revenue streams, you will need to invest time and energy in each account. It's a mistake to assume that hardware store owners or other customers will automatically call your company when they are running low on fasteners. Instead, you will want to nurture customer relationships and frequently check-in with your customers to determine how you can improve your products or level of service.
Creating Business Plans for a Nails, Tacks, & Staples Business
Never underestimate the value of a good nails, tacks, and staples company business plan. If you have invested time and effort in its creation, your nails, tacks, and staples company's business plan will serve as a blueprint for success.
To assist your efforts, you may want to consider enlisting the aid of a professional business plan writer.
Time and time again, the best entrepreneurs we see rely on professionally crafted plans to guide their decision making. However, outsourcing doesn't completely eliminate your responsibilities in the writing process.
Startup entrepreneurs are well advised to materially participate in the writing process, even after they have engaged a proven professional.
Consider the Competition
Prior to opening a nails, tacks, and staples business within your community, it's a good idea to find out what the competition looks like. Use the link below to get a list of local competitors near you. After following the link, enter your city, state and zip code to get a list of nails, tacks, and staples businesses in your area.
Is the local market large enough to support another nails, tacks, and staples business? If not, you had better be sure that you are doing things much better than the competition.
Talk to People Who Are Already in the Business
As part of your due diligence on opening a nails, tacks, and staples business, it's essential that you talk to somebody who is already in the business. If you think owners of nearby nails, tacks, and staples businesses will give you advice, think again. Why would they want to educate a future competitor?
Fortunately, somebody who runs a nails, tacks, and staples business outside of your community may be willing to share their entrepreneurial wisdom with you, once they realize that you are not going to directly compete with them in their community. In fact, they are often very willing to share startup advice with you. It can take a while to find an entrepreneur who is willing to talk, but it's well worth the effort.
Where does one find a nails, tacks, and staples business entrepreneur who is willing to talk to you but doesn't live nearby?
Simply, try our helpful link below, type in a random city/state or zipcode, and start calling.
Is It Easier to Buy an Existing Nails, Tacks, & Staples Business?
Tough decisions are what business ownership is all about. And one of the first decisions you'll have to make is whether to start a business from scratch or buy an existing nails, tacks, and staples business.
In general, purchased nails, tacks, and staples businesses fare better than startups, at least during the initial few years. When you buy an established nails, tacks, and staples business, you gain access to a functional business operation with a customer base and a steady revenue stream.
Entrepreneurs who are committed to a highly unique value proposition may need to pursue a startup approach. However, in today's business-for-sale marketplace, there is an abundance of nails, tacks, and staples businesses worth considering.
Consider Franchising
Your chances of achieving the entrepreneurial goal of doing well with your venture are substantially improved if you purchase a franchise in lieu of doing everything yourself.
Before starting a nails, tacks, and staples business, you should assess whether buying a franchise could help you avoid common entrepreneurial mistakes.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
More Advice for Startups
These additional resources regarding starting a business may be of interest to you.
Recurring Revenue Business Models
Buying vs. Starting a Business
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Additional Resources for Entrepreneurs