Tyler Knight, General Manager of Meaford's Knights’ Home Building Centre, was recently named one of the industry’s eight Young Retailers of the Year by the North American Retail Hardware Association (NRHA).
He was selected as one of the industry’s brightest young prospects in the national recognition program that honours outstanding achievement by home improvement retailers age 35 and younger throughout the United States and Canada.
Knight, along with his cousins, took over the family business in 2006 and immediately began planning for the future. They recognized that the operation needed to change with an economy which was already seeing problems in the housing construction market.
Plans for a new store got underway in 2007 and actual construction began in 2009 and the operation opened in June 2010. The new store’s retail space increased from 5,000 to 14,000 sq. ft. As a result they were able to add more inventory and better merchandising. Sales are now 50 percent consumer, 45 percent contractor and 5 percent institutional as opposed to 80 percent contractor in the old store.
When Home Depot opened close by Knight’s Home Building Centre actually had record sales – and continues to grow. Customer service is one of the advantages. Knight stresses customer service with his employees.
“When we see a good potential employee, we will jump at the chance and find a way to make it work,” says Tyler, “even if we are not hiring at the moment. At the same time, if we are looking to fill a position, we will not settle if we cannot find the right employee who will be a good fit for our team.”
Tyler is working hard to increase the store’s institutional business. “We have one staff member that deals directly with these customers,” he says. “Institutional customers have specific paperwork requirements so it takes a little more care to ensure everything flows through properly”.
Recognizing that the store’s past lumber business, Tyler knew he needed to do something to attract the female customer. They put together its first annual Ladies Night. It attracted 300 women to the event and was talked about for several weeks. “It was much better than we ever imagined”, says Knight.
Nominees for the Young Retailer of the Year award must be 35 years of age or younger and are judged for their career advancement, professional accomplishments, goals for the future, education and community involvement. Honorees will be special guests at NRHA’s 2012 National Convention May 1-3 in Las Vegas, NV, where they will be recognized at a banquet in their honour.
Sponsors of the program include 3M, The Scotts Miracle-Gro Co., Apex Tool Group, Fluidmaster and the American Hardware Manufacturers Association.
The North American Retail Hardware Association is a 111 year old not-for-profit trade association whose mission is to help hardware stores, home centers and lumberyards in the U.S. and Canada become better and more profitable retailers. NRHA fulfills its mission by providing information, communication, training and networking opportunities for the industry it serves.
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