Since the introduction of big box, do-it-yourself stores, such as Lowe’s and The Home Depot, the landscape of the American hardware store has changed.
Although independently operated hardware stores and pure hardware chains continue to find a healthy niche, the big do-it-yourself stores have dominated revenues. That didn’t stop or deter Terry Katnic from coming out of retirement and following his dream.
Katnic, in August of 2011, opened one of San Pedro’s newest, most dynamic small businesses, and he opened it under a name that everyone could recognize — Ace Hardware.
Located at 2515 S. Western Avenue, previous home of Hollywood Video, South Shores Ace Hardware is a business Katnic said he couldn’t be “prouder of.”
“The first year was hard, it was a daily struggle,” he says. “But now we are established, people, the community know we are here — and things lately have been going right.”
Katnic celebrated Ace Hardware’s one-year anniversary on August 23. He says in a community like San Pedro, “anything is possible.”
“We are getting a lot of support from the community,” he says. “People come in and say, ‘We are so happy you’re here!’ This is the key to opening a successful small business, it is all about the community you are serving.”
It’s also about location.
In this area of town, Katnic says, there hasn’t been a hardware store for years.
“There was a hardware store on this side of town for 25 years, but the economy took its toll and they had to close their doors,” he says. “It left a hole, and it was something that not only I, but the community noticed.”
When Hollywood Video closed its doors, Katnic knew it was now or never.
“I literally watched the ‘Closed’ signed go up at Hollywood Video and I knew it was my opportunity to put in a hardware store,” he says. “This is a great location, an amazing building and it couldn’t have been a better opportunity.”
A second generation San Pedran, Katnic knows exactly what goes into the opening and success of a small business. Previously in the auto parts distribution industry, Katnic spent 30 years working across the Los Angeles area serving six stores. He sold his interest in the business in 1998, and his professional career took a turn.
Katnic, who wanted a change, obtained a license to sell both life and health insurance. He says it was a great choice, as it made “life easier, and was not as demanding as my previous line of work.” It was a career Katnic says he was proud of, but the entrepreneur in him wasn’t done.
Ace Hardware, Katnic says, has been another life change. He works on average 80 hours a week, and that’s at the ripe age of 60.
“People asked me all the time if I was out of my mind,” he says. “But I love it, I am a hard worker, and I am always up for a challenge.”
Katnic says he is a part of a franchise that he is proud of – he is 100 percent owner. The company, Ace Hardware, operates as a co-op.
He says from the beginning he has been impressed with Ace Hardware – and as his business has turned one, he is an even bigger fan of the company.
“The J.D. Power award for Highest in Customer Satisfaction has been won by Ace Hardware for the last six years,” he says. “We really cater to people, to our customers. My employees don’t just disappear and hide, they work with the customers.”
He continues, “In addition, the logistics are amazing, the company employs 900 people. There are 4,400 stores in America, all independently owned. They give us the plan, but we are all entrepreneurs.”
But he says starting a business takes time and patience.
“It’s a learning curve, an undertaking, starting a new business,” he says. “It’s a commitment to sign a lease, but I never had doubt or fear – I never doubted that this would be a successful business and that is the mindset you have to have.”
Although very happy with his decision, and the success his store has had in the first year, Katnic knows that he needs the continued support of his community to make his store ever lasting.
“Sometimes people forget that in this hard economic time, I took a huge chance,” he says. “The end result is that I employ 10 people. I opened this convenience hardware store for myself and for the neighborhood. I believe in Ace Hardware and I want the community to believe in me.”
At the same time, Katnic recognizes and is overwhelmed with the support he has received.
“This community has been tremendously supportive, and without that support this store isn’t open,” he says. spt
South Shores Ace Hardware is located at 2515 S. Western Ave., Ste. 101. For more info, call (310) 833-1223 or visit www.southshoresace.com.