On my podcast this week I’m joined by Tony Cox, the president of HIS Coatings in Oklahoma City, Oklahoma. HIS is the first of three companies I’ll be profiling which in the tumult surrounding Kelly-Moore’s demise found opportunity, transforming their businesses in the process.
Family owned and managed, HIS was specializing in OEM, wire, cable, and other industrial coatings when the Kelly-Moore stores near their headquarters suddenly closed. In Gassenheimer’s marauding, HIS saw an opportunity to expand that scope creating a fast plan to gain the architectural coatings market share which Kelly-Moore had just abandoned.
I’ll let Tony tell you the rest of the story, which he does so masterfully there’s few interruptions from me.
You can watch the episode on my YouTube channel, or listen on Apple, Soundcloud, Amazon, Spotify or on my own site.
Paint Dealers Keep Reading!
Each year the North American Hardware and Paint Association publishes their Cost of Doing Business Study, providing the most comprehensive data available on the health of the independent home improvement channel.
Data which since September 2020 has included independent paint retailers.
The survey allows independent hardware stores, home centers, paint and decorating stores and LBM outlets to compare their experiences across a wide range of datapoints such as rent, payroll and other vital signs these retailers share.
But beyond those comparisons with their fraternal siblings, the study allows paint retailers to compare themselves to their identical twins: other independent paint retailers!
That comparison allowing insights into their own businesses which every dealer should consider while informing their budgeting and strategic decision-making processes.
Which you all have, right?
With segments for high profit margin and average-margined retailers plus further segmentation for single-store retailers and MOR’s, any retailer can find a “comp” allowing comparisons to profit and loss statements and balance sheets which should look very much like their own.
There are only two ways to receive a copy of the study, one of which is to download it here, though if you’re a paint dealer I’d rather you did not.
The only other way to gain access is by participating in the survey, which I encourage more dealers to do in order to perfect this data.
Last year independent paint retailers representing more than 80 stores participated in the study, though considering the diversity of dealer configurations and the total number of storefront, a higher number would be better suited to the task.
Which is where you come in.
If you’ve read this far there’s some probability you’re a paint dealer and if you are I encourage to participate in this survey—because I can’t command you to do it!
Had I that power, I’d make you do it here!
