80 years of unwavering business success
Jack’s Paint & Hardware recently celebrated its 80th anniversary and DIY & Industrial Trade News took the time to ask MD, Brandon Byrne, a few questions on what has led to the success of the company.
1. Can you go into the backstory of the company?
Jack’s Paint & Hardware sold its first tin of paint in 1943. The store was owned and operated by the late Jack Cohen.
Jack originally worked as a paint consultant for a major paint manufacturer and through his training and years of experience, decided to open his own paint and hardware store.
In 1987, ex-SA soccer player Martin Cohen [son of the founder, Jack Cohen] decided to partner with Gerhard Waldauer and carry on the legacy his father had started.
Becoming the experts in paint retail, the next step for Jack’s Paint was to develop the brand into a franchise model and roll out subsequent franchise stores. Furthermore, in 1994 the need for an array of quality paint products arose, and Panaché Paint was launched.
Over the years, the brand has become a household name in the paint and hardware industry.
Like many South African brands, Jack’s Paint’s approach to the hardware retail sector has changed and diversified post-Covid.
In his new approach, Gerhard Waldauer, Jack’s Paint & Hardware’s CEO, has established a new board of directors to elevate the company to new heights. The core focus of the brand is and will always be community-driven and striving to be the number one paint and hardware retailer in South Africa.
2. How did you find 2022 in terms of sales and profitability?
Despite it being a challenging year, with external economic factors effecting the retail sector, we as a brand and company have had an increase in sales and profitability.
Some of our successes have been in restructuring and diversifying the way we approach operations to benefit our group and our members.
Further to this, we have changed our marketing and sales strategy, constantly evolving with the change in consumer behaviour.
3. Which of your divisions showed the best performance, and why do you think that was?
The DIY sector has shown tremendous growth. This is the result of the economic climate post-Covid, and the necessity for the consumer to improve or invest in their current living spaces, to accommodate the ‘home office’ and ‘home school’ environments.
What is the company’s outlook for the rest of the year?
- Positivity and support to our members as a group
- Creating brand strength and brand awareness through support initiatives and marketing campaigns – we would like to increase consumer support for all our franchisees
- Growth opportunities for various sectors of the Jack’s Paint brands
- Growth opportunities for our paint brands; Panache Paint, Artisan, Coverkote and Steel Cladd.
This will be done through various ‘Paint Specialist’ and ‘Paint & Hardware Store-in-Store’ campaigns. This will be achieved through affiliations and synergies with various established brands in various sectors.
4. Why do you think your business model is so successful?
Our business model is successful as it allows us to offer operating businesses as well as budding entrepreneurs an opportunity to invest in a profitable business model that suits their needs and their pockets – with the added benefit of support from Jack’s Paint Head Office.
With over 80 years of experience in our industry, we have developed a variety of successful business models.
These models have evolved over years through trial and error and fine-tuned to have proven success rates.
Although we have a corporate structure, we aspire to maintain a supportive and approachable environment, with each of our members and business models.
Our 80-year brand equity is substantiated by the confidence of the consumer in the Jack’s Paint brand. Re-enforcing our slogan; ‘Jack’s Paint, YOUR Community Paint Store’.
5. Do you have a footprint in any of the SADC countries, if so where, and if not, are there prospects for this?
We are currently focused on growth within South Africa. We have investigated the opportunities in the SADC countries and have ear-marked areas where we could possibly take the brand.
6. Where do you foresee the best areas for growth?
We will be looking to invest and broaden our footprint in rural and outlying sectors.
7. Is your supplier base constantly growing?
The Hardware Industry is ever changing and very competitive. As a team we are continuously tracking market trends and keep in touch with current and new suppliers to ensure our members and therefore our customers, receive the best products at the best pricing.
8. You recently celebrated your 80th birthday as a company, what are some of the highlights that you can share regarding this milestone?
- Creating a household name as “Jack’s Paint, Your Community Paint Store”
- Growing the Jack’s Paint brand nationally
- Mutual loyalty between franchisor and franchisee
- Market leading business models
- Market leading franchise structures
- Constantly reviewing and evolving with market trends
- Successful and innovative brand developments through marketing initiatives across the decades
- Developing the Panache Brand and growing the brand footprint
- Surviving and thriving through various economic changes over the last 80 years
- Establishing a strong and stable head office team to ensure the longevity of the Jack’s Paint Brand
- Developing mutually beneficial synergies with franchisees
- Developing mutually beneficial partnerships with suppliers, manufacturers and distributors.
9. What advice would you give to hardware stores who aspire to reach such a milestone?
- Develop relationships with and provide support to your immediate team, and franchisees
- Surround yourself with a loyal, stable and strong team
- Stay on top on your industry – be knowledgeable about developments in your specific industry
- Be open-minded and cognitive of constant industry evolution
- Stay Focused on your goals and keep moving forward. There will always be changes out of your control. If you stay the course, you will succeed
- Stay Positive – “If opportunity doesn’t knock, BUILD a door!” Milton Berle
10. What would you say is key for the company moving forward to ensure 80 more years of success?
- Staying ahead of the curve by being innovative and adaptable to changing market dynamics
- Make customers feel valued and deliver amazing products and experiences that exceed their expectations
- Nurture a talented and diverse team, fostering a culture of growth and learning
- Do business ethically and contribute to social causes, making a positive impact on society
- Form strategic partnerships and alliances to expand into new markets and achieve mutual success
- By embracing these principles, along with effective leadership and a clear vision, the company can thrive for many more years to come
- Even though we strive to always be price competitive – in sales it is not always about price. Service is key!
