What do vendor-managed inventory, $6 diesel, snowblowers, and 10-year-old future employees have in common? They’re all opportunities for independent hardware stores to grow revenue!
October’s Revenue Innovators Mastermind brought hardware store owners and B2B champions together to talk about what’s working, what’s challenging, and how they’re preparing for the slower winter months.
With store traffic staying flat or declining for some Innovators, the conversation focused on finding new ways to generate revenue without simply waiting for more customers to walk through the door. From building stronger commercial relationships to making existing services more valuable, there were plenty of ideas worth bringing back to your own store.
Revenue Mastermind Takeaways
Takeaway 1: Building Customer Trust Could Turn Into Vendor-Managed Inventory
What if your B2B customers trusted you enough to manage their inventory for them?
One Innovator shared how their store has expanded its relationship with Montana State University through vendor-managed inventory (VMI). Their B2B team has earned access to the university’s facility shops, where they visit at least once a week to check inventory bins, identify shortages, order supplies, and deliver what employees need.
Instead of waiting for someone to call because they’ve run out of screws, bolts, or concrete anchors, the hardware store keeps those supplies stocked.
That trust is opening even more doors. The team recently expanded into the university’s mechanic and welding shops and is finding additional opportunities to supply paint, gloves, and other products.
The key? Consistency and honesty. The Innovators emphasized that maintaining the relationship means showing up regularly, avoiding unnecessary overordering, and keeping the customer’s best interests in mind.
As the discussion highlighted, the value shifts away from price alone and toward convenience, reliability, and relationships.
The takeaway: Look for B2B customers who regularly purchase consumable supplies. Could your team take inventory management off their plate? Start with one trusted customer, establish a replenishment routine, and see where the relationship leads.
Takeaway 2: Offering Free Delivery? Break Down the Cost of Gas to Grab Attention
Free delivery sounds like a nice perk. Saving a customer $20 in fuel? Now you’ve got their attention.
One B2B rep shared a simple change to his sales conversations that’s been turning heads: rather than just mentioning free delivery, he’s explaining exactly how much money customers could save by not making the trip.
With diesel priced at approximately $6.19 per gallon in his area during the meeting, he pointed out that a commercial customer could spend around $20 in fuel just traveling to the store.
His pitch? Why pay to drive here when we can bring it to you for free?
He even used the example of a local fire department whose crew drove a large ladder truck to pick up supplies. The truck couldn’t fit in the parking lot, and the fuel expense made the value of delivery even more obvious.
Other Innovators agreed that this was an opportunity worth promoting, especially as big-box competitors advertise same-day and next-day delivery services that some independent retailers have offered for years.
The takeaway: If your store offers free or local delivery, don’t just advertise the service. Show customers what it saves them in fuel, travel time, and time away from the job. Sometimes a small change in messaging can make an existing benefit much more compelling.
Takeaway 3: Snowblowers Are the #1 Search. Is Your Store Carrying Them?
You can’t sell what you don’t have!
As Innovators discussed concerns about a potentially warmer, drier winter and slower seasonal sales, one store owner shared an interesting statistic he’d heard: snowblowers were reportedly the most-searched product on AceHardware.com, yet only about one-third of Ace stores carried them.
That information helped shape his inventory decision. Even with uncertainty surrounding the upcoming winter, he committed to stocking snowblowers to capture customers already searching for them.
And the demand wasn’t just theoretical. During the Mastermind itself, a customer came in to let him know he’d be purchasing a snowblower and picking it up the following day.
Other Innovators echoed the challenges of balancing seasonal inventory against unpredictable weather. Stock too much, and you’re left with expensive products taking up space. Stock too little, and customers may take their purchases elsewhere.
The takeaway: Don’t make seasonal inventory decisions based on weather forecasts alone. Review what customers are searching for online, what they’re asking for in-store, and what your competitors carry. Search interest doesn’t guarantee sales, but it can reveal opportunities worth investigating before the season gets underway.
Takeaway 4: Start Recruiting 10-Year-Olds (Hear Us Out!)
Your next great employee might already be visiting your store. They’re just not old enough to apply yet!
One store owner shared why he continues investing in community events, even when they don’t generate immediate sales.
Years ago, a local Girl Scout troop set up a cookie-selling table at his hardware store. One of those Scouts remembered the experience and how welcoming the store had been.
When she turned 16 and started looking for her first job, that hardware store was the first place she applied. Today, she’s one of the store’s best part-time employees.
That story led to a memorable suggestion from the group: Start recruiting 10-year-olds!
Jokes aside, it’s a reminder that building relationships with young community members can have benefits far beyond today’s transactions.
The store continues hosting events, including an upcoming lefse-making event, to give families a reason to visit and create positive memories associated with the business.
The takeaway: Think of community events as a long-term investment in your store’s future. Welcome local school groups, Scout troops, youth organizations, and families into your space. The kids enjoying an event today could become your customers, employees, or even store leaders years down the road.
Know another hardware store that would benefit from these insights? Share this recap with them!
Join Us in November for Our Revenue Mastermind
We kicked off our first couple of Revenue Masterminds this fall to great success! The B2B, Marketing, and Owners / General Managers conversations will come together again in November for one Revenue Mastermind. The goal is simple: put the people responsible for store growth in the same room. We’re going to break down the silos and focus our conversations on how each of the innovators are increasing revenue.
October Topic: Forecasting Revenue & Growth Projections for 2027
Need help signing up? Send us an email: hello@hardwareinnovators.com
Ready to Join the Conversation?
Does the idea of a monthly meet-up with other retail hardware stores sound valuable?
Would you like to share resources, ask questions, and participate with your peers on-demand through an exclusive Slack channel?
Email us at hello@hardwareinnovators.com to get access to the Slack Channel! The best part? It’s 100% free and connects you with hardware store owners, general managers, marketers, and B2B teams who are willing to share what’s working, what’s not, and what they’ve learned along the way.