One tool distributor only spends 60 percent of his gross on tools.
As important as selling skills was Dave Putits', a Cornwell Tools dealer, attention to strict business management.
Early on, his wife, Chris, instructed him to put aside 40 percent of his sales every week for home and business expenses. This left 60 percent for tool purchases. "You have to put money aside for maintenance, fuel, health insurance and retirement," Putits says.
Keeping his balance current every week played a big role in his early success.
He was able to pay off his first truck well ahead of schedule.
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