Lawn Care Business Forum Lawn Care Business Book Lawn Care Business Blog Lawn Care Software
Home Forum Contract & Flyer Templates Blog Software Videos Podcast Calculators / Estimators Store Mower Review Design It Yourself Lawn Business School

Go Back   GopherHaul Landscaping & Lawn Care Business Marketing Forum > Business > General Business Discussions

General Business Discussions A place to talk about general business discussions.

Gopher-preneur book of the month


General Business Discussions

A place to talk about general business discussions.
Reply
 
Thread Tools Search this Thread
  #1  
Old 04-04-2005, 11:42 AM
Steve's Avatar
Steve Steve is online now
Administrator
 
Join Date: May 2003
Posts: 36,501
Rep Power: 10
Steve has disabled reputation
Default



Gopher-preneur book of the month, April '05, Built from Scratch : How a Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion

Home Depot was started by Bernie Marcus and Arthur Blank. They had both recently been been fired from another home improvement chain when a friend, Ken Langone, told them this was their chance to make the company they always dreamed about. Neither of them had much in the way of savings and because they were older, they felt their job prospects weren't too good. They were also pretty scared of losing everything they owned if they didn't start making money soon. Ken told them again, now was their golden opportunity to start The Home Depot. Ken believed in Bernie and Arthur's management abilities so much, he was able to raise about two million dollars from investors to start the company.
In 1977 the average markup on products in home improvement stores was 45%. The selection at most stores was limited. The world was waiting for someone to step up to the plate and make things better. The first store opened in Atlanta, Georgia in June of 1979. The store offered a selection people just couldn't believe, a vast warehouse of home improvement products all under one roof. What a great idea! In the beginning, The Home Depot would advertise sales in newspapers that offered a few products steeply discounted to attract customers to their stores. The sale products would quickly sell out and the stores would empty of customers until the next big sale came along. Trying to find a way to break this cycle Bernie and Arthur met with Sam Walton, founder of Walmart. Sam told them he had been down their road in the past. Sam said instead of only getting customers in their stores for the sales, why not drop their prices and lower their markup to offer customers low prices all the time. This would help Home Depot sell more and sell more often. And you know what? Sam was right. The Home Depot adopted this strategy and put many other home improvement retail chains out of business. Stores like Somerville Lumber, Grossman's, HomeQuarters, Channel and Rickel's just couldn't compete. As time went on, The Home Depot expanded it's product line to over 40,000 items and has improved it's ability to reach out to a diverse customer group by offering in store how-to training.
The Home Depot now has over 320,000 employees working at 1,800 stores, with a new store opening every 48 hours on average. This company is a great monument to capitalism at work. Thank you Bernie, Arthur and Ken for helping us improve our homes and our lives.
If you are interested in learning more about Home Depot please read this book "Built from Scratch : How a Couple of Regular Guys Grew The Home Depot from Nothing to $30 Billion" by Bernie Marcus, Arthur Blank, Bob Andelman, we did!
__________________
- Subscribe to my Lawn Care Marketing Blog Feed and get daily tips sent to you. Free!
Download your Free trial of Gopher Lawn Care Software.
Reply With Quote

Stop guess-timating. Learn how to estimate and make money! $$$
Mow Time Estimator Lawn Care Price Estimator Mulch and Topsoil Calculator Snow Plow Estimate Calculator


Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Forum Jump

» Recent Threads
  RatingTitle, Username, & Date Last Post Replies Views
What parts do you carry...
Just for Cuts
10-17-2014 09:08 AM
Today 09:51 PM
by ExtremeLawncareServices
21 468
These are the days on...
ExtremeLawncareServices
03-22-2014 09:12 AM
Today 09:32 PM
by ExtremeLawncareServices
154 11,074
Pressure Washing Like a...
TNTurf
08-01-2014 11:47 PM
Today 08:49 PM
by biglee
4 561
Cheapskate Landlord...
Mr. Mow
Today 06:33 AM
Today 08:44 PM
by biglee
6 112
Jungle to Beautiful
stevef1201
10-17-2014 09:54 AM
Today 08:39 PM
by biglee
8 296
Have you ever had to...
SouthernRootsLawnCare
07-26-2014 02:41 PM
Today 08:34 PM
by biglee
10 1,640
Sunny Beach Tennis...
SGL1
Yesterday 11:24 PM
Today 07:13 PM
by SGL1
2 92
Hello, from TEXAS
sanchez5
10-17-2014 09:56 PM
Today 06:15 PM
by Steve
3 222
Look out Bob Villa -...
Mr Dave
09-30-2014 10:06 AM
Today 05:42 PM
by SGL1
7 1,185
how to fi d commercial...
mchampion319
Yesterday 09:50 PM
Today 04:41 PM
by Steve
1 96
Hello From Tennessee
mrmann901
10-17-2014 10:02 PM
Today 04:24 PM
by Steve
1 178
questions on order to...
jack2048
10-13-2014 11:15 AM
Today 03:27 PM
by Mr. Mow
15 606
Organic Lawn Care...
NHray
10-17-2014 06:05 PM
Today 02:22 PM
by Steve
1 216
This sucks...
Matther777
09-18-2014 04:56 PM
Today 02:14 PM
by Steve
14 2,053
Cement mixer
KevinsLawns
10-15-2014 08:03 PM
Today 02:11 PM
by Steve
7 351
Hello ! New guy Rob here
RWorthley1
10-17-2014 04:05 PM
Today 02:09 PM
by Steve
1 194
first year update
cmdlawncare
08-12-2014 05:41 PM
Today 02:07 PM
by Steve
3 1,169
Pda
stevef1201
10-18-2014 02:05 PM
Yesterday 11:27 PM
by SGL1
2 173
Snow Blowing
gwilson98
10-12-2014 02:21 PM
10-17-2014 02:51 PM
by Steve
6 536
Spreading Weeds?
WesleySnips
07-27-2014 09:46 PM
10-17-2014 07:49 AM
by SGL1
6 840
Grasswhoopins.com Anyone...
GRASS WHOOPINS
06-21-2011 11:38 PM
10-16-2014 01:30 PM
by ExtremeLawncareServices
42 9,194
I Want to buy old...
ExtremeLawncareServices
10-10-2014 10:04 PM
10-15-2014 09:12 PM
by ExtremeLawncareServices
6 580
Say Hello !!!
Steve
03-19-2007 11:18 AM
10-15-2014 06:43 PM
by NHray
1,190 339,852
Workmans compensation...
CDLAWNCARE
10-15-2014 08:05 AM
10-15-2014 02:57 PM
by Steve
2 322
Do you find weed eating...
chuck2s
10-15-2014 02:10 PM
10-15-2014 02:10 PM
by chuck2s
0 291
Incorporating &...
WesleySnips
10-01-2014 09:39 PM
10-15-2014 01:37 PM
by kslawn
20 1,384
Falling into business
stellarmowing
09-28-2014 04:35 PM
10-15-2014 05:57 AM
by ringahding1
8 1,399
Apartment Complex and...
lxarth
06-22-2011 01:10 PM
10-14-2014 06:25 PM
by jrs.landscaping
42 9,483
I LOVE hedge trimming
stevef1201
10-13-2014 09:05 AM
10-14-2014 01:06 PM
by Steve
5 422
Help with seeder...
ExtremeLawncareServices
10-09-2014 07:39 AM
10-13-2014 08:09 PM
by ExtremeLawncareServices
5 585
The Market watch
WesleySnips
10-12-2014 08:47 PM
10-13-2014 05:40 PM
by SGL1
3 428
Help pricing a large...
Bradcook21
10-07-2014 06:49 AM
10-13-2014 02:00 PM
by Steve
7 775
leaf removal
Double J LLC
10-03-2014 04:24 PM
10-13-2014 06:46 AM
by Billy Goat
19 1,402
Acerage Rake
acrajchel
04-23-2014 07:23 PM
10-12-2014 10:53 PM
by SGL1
2 743
John Deere z235 Deck
WesleySnips
09-29-2014 06:02 PM
10-12-2014 06:20 PM
by kslawn
25 1,545
Credit card contract
SGL1
10-06-2014 05:31 PM
10-12-2014 03:40 PM
by SGL1
18 967
Truck craft dump bed...
ExtremeLawncareServices
10-04-2014 08:41 PM
10-10-2014 11:35 AM
by Steve
7 863
First Time River Rock...
berryjam
10-09-2014 06:09 PM
10-10-2014 11:08 AM
by Steve
2 522
West cost lawn prices
SGlawncare
10-09-2014 09:51 PM
10-10-2014 11:03 AM
by Steve
1 511
Question?what should I...
dalvan0
09-24-2014 11:10 PM
10-09-2014 05:58 PM
by kslawn
28 2,036
Mowing the hills
EyeCatchersNow
07-08-2014 12:22 PM
10-09-2014 04:19 PM
by Just for Cuts
25 2,895
snowplowing
jshak40
09-01-2014 07:20 AM
10-09-2014 02:21 PM
by Steve
25 3,543
Changing Scag Freedom Z...
maggiedavidson
10-06-2014 12:24 PM
10-08-2014 06:34 PM
by ExtremeLawncareServices
7 753
The most dangerous part...
Steve
10-06-2014 02:45 PM
10-07-2014 04:18 PM
by ExtremeLawncareServices
3 729
Good Mower
jack2048
10-04-2014 05:34 PM
10-07-2014 01:05 PM
by Steve
7 817
Mulching fad killing...
Tree geek
10-06-2014 08:37 PM
10-06-2014 08:37 PM
by Tree geek
0 636
Help a brother...
tbtigers03
09-28-2014 11:41 AM
10-06-2014 02:53 PM
by Steve
11 1,361
Update on LawnsAway and...
Ian Lovejoy
09-28-2014 10:24 AM
10-06-2014 01:30 PM
by Steve
4 1,227
A GREAT Story
stevef1201
10-02-2014 10:33 AM
10-06-2014 12:50 PM
by Steve
6 1,033
Kohler command carb...
ExtremeLawncareServices
09-21-2014 03:09 PM
10-03-2014 07:12 PM
by kslawn
27 2,138
» Popular Tags
2wd 4x4 aerocore apartment bid apartment lawn care estimate applying auger billy goat brushcutter bush charge christmas deliquentaccounts exmark ferris foreman georgia gopherhaul grass gravely hills holiday how much to charge how to how to bid john deere quik trac kawasaki labor cost landscape services lawn lawn care lawn care busines plan lawn care business book lawn care business podcast lawn care business seo lawn care business show lawn care business website lawn care business website seo lawn care seo lawn care website lawn care website seo leaf removal lighting lighting brass outdoor lights managing a lawn care business marketing mowing mulch mulch estimate new buisness new business ordinance podcast property management company push versus ride savannah scag scripts seo shreaded snow plowing starting a business starting a lawn care business stihl sulky theft toro tractor auger walk behind walker wright stander rh
Powered by vBadvanced CMPS v3.1.0

All times are GMT -5. The time now is 10:38 PM.


(C) 2011 Riggs Publications - Terms of use & Privacy Policy

All times are GMT -5. The time now is 10:38 PM.

(C) 2011 Riggs Publications - Terms of use & Privacy Policy