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Lumber
Maggie ’ s philosophy recognized the different needs and trends of each location , and over the four years from 1992 to 1996 she reset the culture . “ Deciding to stop waiting for people to come into stores , she created an outside sales program , with associates that go out and meet builders and find out what their needs are , and drive sales into the stores in that way ,” added Frank .
Growth trajectory
If 1992-1996 reset the culture , then 1996-2001 set the foundations . Having established a great model and facilities , 2001-2006 saw 84 Lumber enter bigger markets , and just as it was seeing success in new locations such as Dallas , Los Angeles and Phoenix , the market was hit by the 2008 housing bust . It heralded a tough few years for 84 Lumber , but as a company that was privately held , it weathered the storm . “ Maggie personally invested her own money to keep the company going through those hard times ,” said Frank . With Maggie ’ s support , 84 Lumber persisted ; in 2011 it entered a period of recovery , with new stores arriving four years later .
“ We had this little growth spurt in 2016 / 2017 and from 2017 to where we are today , we have been on this wonderful trajectory of growth that could see us end 2021 at over $ 7 billion of revenue ,” exclaimed Frank .
Maggie ’ s philosophy of learning a lot about the areas where stores are located has been a crucial factor in the evolution of 84 Lumber , and a differentiator between it and the competition , because as Frank notes “ it ’ s so different from market to market . As you can imagine – a builder in Boston is going to have different needs to one in Northern California .”
The strategy has been very successful and means that 84 Lumber can supply its customers at every stage of a house ’ s construction , wherever they are located . It starts with the framing . “ We do windows , exterior doors , siding and roofing , and then we go inside with interior doors and trim . The range is broad and encompasses everything that you see in a house ,” explained Frank .
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