Good Morning to all.
80% of those who venture into hardware business close shop in less than 2 years due to losses and cash-flow problems. The good news however, is that there are those diligent ones who survive against all odds and live to share the cake as cut-throat competition fades away. I can see that SK Hardware is doing very well in this trade.
As a potential hardware owner, it is important that you are up to speed with some trade secrets… In other words you need to be armed with some market survival tactics that an ordinary business classroom doesn't offer. And in this digital era, I would highly encourage the business to have a digital platform for sales to further tap on this current digital economy our CM has visioned for us.
Hardware business has minimal barriers of entry and for this reason, cut throat competition is quite a common feature. The first step in dealing with competition is to avoid it in the first place. Ideally, you should set-up shop in upcoming estates and grow slowly as the market expands. It's also important to create strong relationships with the market.
SK Hardware provides this one stop shop for your clients such that they don’t have to go shop for anything else in any of your competitors’ shops. And I believe for this main reason, consumers will come flocking in as I can see SK Hardware strive to achieve the status of a one-stop-shop.
Hardware business requires a hands-on approach and SK Hardware will surely need to burn the mid-night oil in order to keep track of its performance. Here I would like to congratulate SK Hardware team on it's aim to provide an exceptional experience whilst maintaining great service and a unique atmosphere.
Business require time and money, but more importantly they need the vision, passion and courage of a determined entrepreneur and his team. Once again Congratulations on your Grand Opening and wishing all of you the best and nothing but success and riches.
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