Coming off a dismal 2008 sales year, Kennedy Hardware and Outdoor Power Equipment is braced to wait out the current economic decline until better days return.
The companys president, Tim Teufel, said he cutting back on expenses until things pick up.
We are like a lot of other businesses, Teufel said. We are cutting back on inventory and watching daily expenses. We wont be doing any major capital improvements to our buildings or adding any new trucks to our fleet.
He said 2008 showed a decline in consumer and contractor sales.
Things usually dry up for us in June, but last year the economy dropped at about the same time, he said. Our service department has been pretty steady because people are having equipment repaired rather than replacing it. You cant control the weather or the economy, so you just have to wait it out. Strong business survive during slow times.
Teufel said Kennedy Hardware in business for 86 years has 15 employees and an annual payroll of just over $400,000.
Company History in Ohio County
The company was established in 1923 when George B. and Marie H. Kennedys family acquired the former Neff Hardware in Wheeling.
The business was expanded in 1947 with the opening of a Barnesville store and, then, again with the addition of a wholesale and contract builders hardware store at 3300 McColloch St. in Wheeling.
After Marie death in 1958 and Georges death in 1965, William b. Kennedy took over the company. He would run it for 38 years before turning over the reigns to Teufel, who is president and principal stock holder.
Kennedy Hardware is comprised of two divisions, Both locations specialize in lawn and garden equipment while the Wheeling store also deals with True Serve hardware.
Teufel said the business sells most major lines of tractor sales while the hardware side offers service on equipment purchased at either location.
He attributes the companys longevity to a simple business philosophy aimed at the customer.
We are much more personalized and offer a friendly environment, he said. It is important that our employees have one-on-one contact with customers. Our biggest concern is service and personal customer care.
We look forward to continued growth with the help of our staff of knowledgeable and capable employees.
