With The Multi-Billion Dollar Paint Industry On the Rise, Benjamin Moore Seeks to Nurture New Entrepreneurs and Re-Imagine the Paint Store Experience
Montvale, NJ — May 5, 2014 — Benjamin Moore & Co., one of North America's most respected paint and coatings brands, today announced its reinvigorated commitment to the independent channel by unveiling the New Entrepreneur Program, a vibrant new program seeking entrepreneurs to grow its network of locally-owned retailers. The iconic paint company announced this during the annual Berkshire Hathaway Shareholders Meeting.
New Entrepreneur Program will offer selected entrepreneurs both an easy "on-ramp" to owning their own retail business as well as a comprehensive roadmap to ensure that business is successful, including a financial plan and package, in-depth training and ongoing mentorship from experienced retailers. From store site selection to merchandise planning to growth modeling, the New Entrepreneur Program will provide new business owners a step-by-step process to become a successful retailer/dealer of Benjamin Moore products.
New Entrepreneur Program will make its debut in the Washington D.C. metro area first, where Benjamin Moore will focus on working with individuals who are passionate about the brand and highly qualified to run the very best retail experience to consumers, the design community, professional painters and contractors. The D.C. metropolitan area is also connected to many of the nation's wealthiest counties and is a city filled with monumental architecture, top-rated universities and an affluent design-driven community.
"There are many creative entrepreneurs seeking news ways to be masters of their own destiny and at the same time leverage the powerhouse strength of a premium brand reaching a variety of customers," said Mike Searles, President and CEO of Benjamin Moore & Co. "This program allows us to build on the strength of our current Benjamin Moore retailers as well as local market partners, municipalities and local Chambers of Commerce to nurture new generations of entrepreneurs in all areas of the country."
According to published reports, U.S. demand for paint and coatings is on the rise and is forecast to reach 1.5 billion gallons in 2017, making it a $30.6 billion dollar business. The industry continues to be bolstered by an improved economic outlook, greater consumer confidence and a rebound in construction activity, which will propel demand for premium architectural and residential paint.
Finding the next generation of retailers is only the first part of the New Entrepreneur Program as Benjamin Moore also plans to launch new efforts to refresh and renew its retail store experience. Entrepreneurs will join a community of over 5,500 locally-owned stores and have access to all of the power of an internationally recognized brand without the constraints and costs of a franchise.
About Benjamin Moore & Co.
Benjamin Moore & Co., a Berkshire Hathaway company, was founded in 1883. One of North America's leading manufacturers of premium quality residential, commercial and industrial maintenance coatings, Benjamin Moore maintains a relentless commitment to sustainable manufacturing practices and continues to develop the most eco-responsible formulations possible. In 2012, the company's Natura® paint received the Green Good Housekeeping Seal, acknowledging its high degree of sustainability plus rigorously tested performance. Other superior products in the Benjamin Moore Green Promise® portfolio include Aura®, Regal® Select, ben® and Ultra Spec® 500 paint for commercial interiors — all built upon our patented Gennex® platform that has changed the industry and earned the passion and loyalty of homeowners and professional painters by delivering extremely low-VOC and peerless beauty and performance. J.D. Power and Associates 2014 Interior Paint Satisfaction Study ranked Benjamin Moore highest in consumer satisfaction, marking the fourth consecutive year and fifth time the company has earned this rating. Benjamin Moore paints deliver authentic Benjamin Moore colors and are available exclusively from Benjamin Moore's network of paint and decorating dealers.