True Value 2011 Annual Report Download - page 4

When Kathleen Roswall became Gilchriest’s retail consultant, she immediately saw an
opportunity to open a second location. Gilchriest did not. At 4,800 square feet, the
original Ransom Brothers generates $3 million annually serving mainly contractors. But
the store is off of the main highway and has a narrow merchandise selection. Roswall’s
20+ years of retail experience told her a second store geared toward DIYers could
succeed and would be an asset to Ramona’s 35,000 residential customers.
CASE STUDY 01
YOUR SUCCESS IS OUR BUSINESS
Because every True Value store is independently owned, each offers a uniquely rewarding
shopping experience. Knowledgeable in-store associates and DIY-focused product
assortments are at the core of a successful True Value. But equally key are True Value’s
nearly 2,400 dedicated co-op associates, who take the guesswork out of running a small
business. From providing marketing and planning tools to maximizing store productivity,
True Value associates leverage their retail knowledge, informed by industry research and
customer trend data, with the end goal of helping retailers succeed.
Jimmy Gilchriest of Ransom Brothers True Value in Ramona, Calif., was hesitant initially to
open a second store. But the overwhelming assistance he received from True Value’s team
of retail experts quickly boosted his confidence.
“I could call True Value and talk to 10 people about my business,” said Gilchriest. “I felt like
years of experience and expertise went into creating my store.”
From day one, Roswall worked closely with Gilchriest and became his trusted advisor.
Gilchriest knew she was invested in his store’s success. “She bends over backwards
to help us,” said Gilchriest. “She’s a huge asset.” With Roswall’s guidance and after
conversations with business development consultant Joe Deleon and other True Value
associates, Gilchriest secured a $160,000 loan from True Value. Ransom Brothers’
second Ramona location opened almost five months later. “I knew it was right for
their business,” said Roswall.
Although open less than a year, the new store is on track to surpass its predicted
$2.1 million in sales by almost 5 percent. And Roswall and Gilchriest couldn’t be
happier with the results. “I felt it was my personal responsibility to ensure the store’s
success,” said Roswall. She credits the store’s Destination True Value format and
Gilchriest’s impeccable merchandising for making the 12,654-square-foot building
so inviting. “Customers say this is the nicest hardware store they’ve ever visited,”
said Gilchriest.
CHALLENGESTRATEGYRESULT
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True Value’s National Gift Card program launched online at
truevalue.com in September 2011. Customers can now redeem
cards at all participating stores, benefitting multi-location True
Value retailers. And with 93 percent of U.S. consumers buying
or using gift cards, it’s also smart business. Easy to implement,
True Value provides the nearly 1,500 participating stores with
everything they need to sell the gift cards, including countertop
displays, signage and support materials.
TRUE VALUE GIFT CARDS
›
TRUE VALUE’S NEARLY 2,400 DEDICATED CO-OP ASSOCIATES
TAKE THE GUESSWORK OUT OF RUNNING A SMALL BUSINESS.
ANNUAL REPORT 2011 0504 TRUE VALUE COMPANY