(Case Study on Market Structures) Hardware Business Presented By: Group # 4

Introduction

What is a Hardware? Hardware - is a general term for equipment that can be touched/held by hand such as keys, locks, hinges, latches, handles, wire, chains, belts, plumbing supplies, e lectrical supplies,tools, utensils, cutlery and machine parts. Household hardware is typically sold in hardware stores. What is a Hardware store? Hardware stores, sell household hardware including: fasteners, hand tools, power tools, keys, locks, hinges,chains, plumbing supplies, electrical supplies, cleaning products, housewares, tools, utensils, paint, and lawn and garden products directly to consumers for use at home or for business. Many hardware stores have specialty departments unique to its region or its owner's interests. These departments include hunting and fishing supplies, plants and nursery products, marine and boating supplies, pet food and supplies, farm and ranch supplies including animal feed, swimming pool chemicals, homebrewing supplies and canning supplies. Type of Business Proprietorship A business structure in which an individual and his/her company are considered a single entity for tax and liability purpose. A proprietorship is a company which is not registered with the state as a limited liability company or corporation. The owner does not pay income tax separately for the company, but he/she reports business income or losses on his/her individual income tax return. The owner is inseparable from the proprietorship, so he/she is liable for any business debts. also called sole proprietorship.

Information About the business.

1. Reason for having that kind of Business. It has been a Hardware store from the beginning, it is given to us since the original owner is too old to manage, so we continued the business. 2. Types of Product or Services offered. Hardware. Electrical & industrial Supplies. Plumbing. Construction Materials. Bolts, Nuts, Screws & Power Tools. 3. Approximate Number of Employees. Three Employees. 4. Location (Ask What are The Reasons For Choosing Such Location). It is originally placed in that Location. 5. Method of Marketing. (None). 6. Problems Encountered During the Business Operations. Our Consumers Havent Paid Their Debts in time. Shortage of Stocks. Delayed Delivery Trucks. Trucks Needed for Repair. 7. How They see their Business after 5 10 yrs. From now? To acquire more Delivery Trucks. Expand Business. 8. Notable Experience in Organizing Business. In First Place it is difficult to Manage After 3 to 6 months, we already familiarize the prize of our products. 9. Company Operation & Manual. (NONE).

CONCLUSION: In simple definition, we knew that a hardware store is a shop where articles for the house and garden such as tools, nails, and pans are sold also provide consumers with tools and construction materials needed to build, maintain, and improve their homes and properties. Starting a business like hardware store is complex, time-consuming and life-altering. There are many more things that go into running it than just providing the product(s) or service(s) that your business offers, however. You'll also be responsible for your business's finances, protecting your business and personal assets, keeping your business legal, paying taxes, keeping records, managing employees and more. If you understand what you're doing and know how to minimize the risks and challenges, the independence, personal satisfaction and financial rewards you can achieve as an entrepreneur can make starting a business like hardware store is the best decision you'll ever make.