True Value 2010 Annual Report Download - page 7

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Scott Westlake, who has more than 25 years of experience in retail hardware, was looking to open a
series of new hardware stores in 2007. As part of his research, he visited the DTV model store in Cary,
Ill., and was impressed by the strong merchandising and customer-friendly nature of the format.
OUR COLLECTIVE STRENGTH
“The overall merchandising was the telling factor for me,”
said Westlake, who owns five stores in Kansas, Missouri and
Texas. “It was immediately evident that True Value really
knows what they are doing to provide a customer-centric
store model based on strong retail principles.”
In addition to the merchandising, Westlake was also impressed
by the product offering the co-op provides. His stores, on
average, buy 80 percent of their products out of warehouse.
“We made the decision to buy a majority of our products
from True Value to improve efficiency,” Westlake said.
“And, more importantly, this allows us to focus on what
really drives our business – providing expertise and great
service to all of our customers.”
A 25-year corporate veteran, Gary Dickes has a story with
similar themes. He wanted a career change and sought an
entrepreneurial opportunity in the hardware business. After
carefully researching other co-ops, True Value stood out for
its retail focus and operations. Dickes knew to succeed in
this venture, he’d need to rely heavily on people who un-
derstand retail and how to navigate a competitive industry.
Enter Dickes’ business development consultant Frank Butler,
to whom the newly minted retailer credits influencing his
2009 decision to join True Value.
“With DTV, True Value had a clear vision to grow the hard-
ware category with a strategy behind it. Nobody else had
anything like that – an investment in, and commitment to,
the future,” Dickes said.
To finance Prairie Side True Value of Kenosha, Wis., Dickes
took advantage of a $240,000 retail growth package at
0 percent interest for 10 years.
Guiding Dickes through initial store planning, retail consul-
tant Rose Blair helped bring Prairie Side True Value to life.
Together, Dickes, Blair and Butler studied the Kenosha
market. Dickes saw the impact “window shopping” had on
Every True Value associate is committed to
providing top-notch service and support that
helps drive True Value retailers’ protability.
ANNUAL REPORT 2010 5