From The Beginning…

Let’s go back 30 years ago. Before Home Depot was the 2nd largest retailer in America, before Home Depot even existed.

Bernie Marcus and Arthur BlankThe tale of the creation of Home Depot is an underdog story for the ages. Bernie Marcus and Arthur Blank worked together at the hardware store called Handy Dan’s. When they were both fired, they decided to seek revenge by creating their own hardware store with a warehouse feature.

Thus, Home Depot was born. Over the next 30 years it grew to be the 2nd largest retailer in America, behind Wal*Mart, and managed to cut home improvement costs by 25-30% over the decades.

Home Depot has achieved much but has also had its share of downfalls. They are currently facing layoffs and a decrease in their highest priority – customer service. Some choices in company management at the highest levels have been questioned, but in the end Home Depot has maintained its same values.

While all of the founders of Home Depot have stepped down, some regret their decision. In an Omaha World-Herald article Pat Farrah said, “None of the three of us should ever have handed over the reins of the company. We knew how to do everything, and do it well, and people loved us. We should still be running the company today.”

With the recent step-down of the last founding member, people are Legendary Home Depot apronbeginning to wonder where Home Depot will be in the next decade. I believe there will be change.

I think more international growth is on the horizon. I think that home staging will become a bigger deal if the housing market doesn’t change and Home Depot could take a big slice of that pie. I think that the online world will become even stronger than it is today and interactive studios in stores where people can picture the way their room will turn out will become more popular.

I think Home Depot will change on the outside, but on the inside their core values will remain.

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