Harbor Freight – growth and expansion
The idea of discount coupons has developed into a major commodity over the years into modern retail development. Shopping centers, malls, and even manufacturing houses have resorted to this method to boost their sales and hence their profit index.
Introduction to Harbor Freight
Formed in the year 1977, Harbor Freight developed its brand value starting from the time when discount coupons were a foreign idea to a commoner. Having its headquarters in Calabasas and having formed its current shape in Los Angeles, this company has for sure made a mark in this not-so-delved into business and has paved a clear path for the modern conglomerates coming forward for similar ventures.
A product of the think tank Eric Smidt, the now famed retail organza took its first steps in a humble establishment in Hollywood. The main focus area for the company since its inception was tools, an item which humans cannot imagine living without. Way before the wave of internet and before the term coupon was an often-used term in the dictionary, Harbor Freight, then known as Harbor Freight Salvage, began its business with mail-ordering of tools.
Having made a significant and valuable impact on the newborn market, Harbor Freight acquired peer companies in the same line of business to expand their wing span and cover maximum area of customer service. Until the 1980s, the company focused itself only on mail-order of tools, until its turnover was enough for starting a retail business. Having opened their first retail outlet in Lexington, Kentucky, Harbor Freight tapped into another high on demand commodity, which was then termed retail shops. That was only a beginning. Once the retail shops gained momentum, similar store opportunities rose in all states in America. Till date, the company holds property of more than seven hundred retail outlets.
Keeping itself at par with the modern American tool market, Harbor Freight showcases a wide array of Power tools, hand tools, and air tools. It also boasts an enviable selection of welding machines, gas equipment, and tool storage options. Having made a fan base across a major number of the American population, to add value to the product, they introduced the idea of the lifetime warranty, which assures its customer’s guaranteed service and replacement from defects in material and craftsmanship.
In the recent past, the company followed the lead of other sister companies to provide membership cards, monthly and weekly members-only offers, hence beginning the coupon revolution, becoming one of the first conglomerates to begin the movement.
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