Hardware and Construction Supply Business Tips

Question:

Ok ba ngayon mag-business ng hardware and construction supplies? How much capital does one need? Thanks! – Crystal Goodness

Answer:

We have a hardware business. It’s my parents business and I’m very much hands-on ever since, siguro mga gradeschool palang ako aware na ko sa business na ‘to.

Hardware business is really okay, sabi nga ng lolo ko (who started it all, at lahat ng anak nya may hardware na ngayon), e wala ka lugi dito since hindi nabubulok ang paninda mo.. and lahat halos ng paninda mo ay necessity in one way or the other sa household. Your items wont go out of style, as compared to RTW business na pag hindi na uso, hindi na bibilhin.

Yung tanong mo na kung okay ba mag hardware business ngayon.. your location will answer your question. Strategic location dapat. Dun ka magtayo kung saan booming ang place. Like you won’t put up a hardware in a place where every kanto has one already, or in a place where you see it’s already fully developed na tipong puro “for renovation” or “for maintenance” na lang ang bibilhin sa yo. dapat dun sa tipong pa-start pa lang ang development ng lugar. Kasi in that way, from start to finish ng construction sa ‘yo na yan kukuha.

When it comes to capital, sa panahon na ‘to medyo malaki-laki na ang kakailanganin mo. Well, for one, you have to have your structure including the istante, cabinets, warehouse, then your delivery trucks, consider your rent also, plus your bills and pasweldo. Kasi pag nag start pa lang, you won’t always rely on the money your business will generate. Kasi what if you won’t be able to generate your expected payables? So dapat may back-up capital ka. As for the items you will be selling, suppliers usually give terms. Like for hardware items 120 days ang terms nyan ususally. If construction items naman, shorter terms nyan minsan 15-30 days lang, Minsan cash pa. Depende sa mapag usapan nyo ng supplier.

Tip ko lang sa ‘yo na mas mataas ang profit ng hardware items compared to construction materials, and yung construction items ang talagang pinagtyatyagaan i-canvass ng mga buyers. So you have to really compete with others. Dapat aware ka rin sa presyo. You have to be updated sa price ng construction materials. Usually sa 5-20 pesos lang ang tubo sa construction materials. Yung sand/gravel by the truck na yan so hindi ko ma-quantify how much talaga tubo dun pero hindi rin ganun ka-taas dapat mark-up mo. Ang okay naman kasi dyan, kahit ganun lang profit mo per piece, hindi naman yan bibilhin ng por piraso lang, right? They will be building a house so madamihan yan, plus tatagal pa ng buwan. So accumulated profit nun mataas na rin. Hope youre getting my drift. then bawi ka nalang sa harware items like electrical, paint, water hose. Dyan pwede ka na mag-laro sa profit. (Pero my example still depends on your location ha, kasi if you are the only hardware store there in your place, syempre pwede ka magtaas ng mark-up kahit sa construction materials.)

– advice of Irene from femalenetwork.com business forum

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