No DIY project is complete without supplies from a local hardware store, and who better to visit than The Home Depot?
This trusty retail chain has been around for decades, providing quality tools and materials to its customers and perfecting home projects all around the US. Its well-known slogan, “How Doers Get More Done,” is synonymous with the joyous feelings of accomplishment every time a wood board is cut to perfection and a nail is hammered into place.
The history behind the Home Depot Slogan has an interesting story to share.
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Every Good Story Has A Villain
In the 1970s, Bernie Marcus and Arthur Blank used to work for Daylin Corp, a chain of stores much like the Home Depot we know today.
The owner of the store was villainous, so much so that he nicknamed himself Ming the Merciless. His tyrannous nature was one for the books; he would go down in history as the man who fired the founders of Home Depot. That’s right; he fired both Blank and Marcus!
There were almost three…
As it were, this was a blessing in disguise, as they now had the freedom to create the type of store that they wanted to work for and serve the customers they loved.
Initially, they wanted to bring another wealthy member that was fired from Daylin on board; however, they were unable to seal the deal on the magnate’s funding. Fortunately, they were able to secure the needed funds from investors and a large loan.
And so the journey begins…
Blank stepped in as president and Marcus as the CEO and chairman of the board at their newly established three Home Depot stores in Atlanta in 1979. They started their journey with fully stocked stores and over 200 employees.
Home Depot Slogan – The Company Vision
The dynamic duo knew that they would have to run their tight ship with a different style than their former boss. This meant that a strong value was placed on customer care and ensuring that their employees were always respected within the workplace.
Marcus and Blank believed that if they put their people first, everything else would “take care of itself.” This ultimately set them lightyears ahead of their competition.
Growing at an alarming rate…
Within two years, Home Depot was listed on the National Association of Securities Dealers Automated Quotations Stock Market and raised over $4 million. This was more than the amount they initially loaned for capital. In the next three years, they were able to open an additional 16 stores with sales exceeding $250 million.
They were listed on the New York Stock Exchange in 1984 and bought out the Bowater Home Center. This eliminated their Texas competition and opened a whole new market for them.
It Hit A Bit Close To Home
Unfortunately, they were somewhat overconfident, and the rapid expansion into new territory saw a drop in projected sales. Home Depot ran into debts of over $200 million but managed to recover some funds with the addition of 10 stores in 1986 in under-serviced areas.
The close call with the brush of bankruptcy looming, Blank and Marcus were determined to save face and make a success of it. Their popularity soared, and with hard work and perseverance, they surpassed even the most well-known household names in home improvement chains by the 1990s.
Welcome to Canada!
To cement their footprint in the United States, they compiled a home improvement book of almost 500 pages. This meant that Home Depot was regarded as the expert in DIY.
To ensure their foothold, they later acquired the Aikenhead’s Hardware chain in Canada. All of those stores were soon rebranded and refurbished to reflect the Home Depot name. It was more or less during this time that the slogan “The Home Depot, Low prices are just the beginning” was introduced.
It’s all in the name!
Only ten years prior, they were facing certain doom, but by 1995, the Home Depot name was worth billions. They acquired Maintenance Warehouse, a San Diego company, in 1997.
This enabled them to serve customers that were out of their reach once more by offering maintenance and repair services. Their acquisition of Apex Supply in 1999 secured an additional offering of HVAC, pipes, and fitting supplies.
Turn Of The Century At Home Depot
After more than 20 years at the helm, it was time to enjoy the fruits of his labor. Markus stepped down as CEO and handed the reigns to Robert Nardelli in 2000. Nardelli carried on with plans of expanding the brand as far as they could, entering Mexican markets by 2002. The company slogan was then changed to “You can do it. We can help.”
Home Depot then brought landscaping into the fold with newly added nursery outlets. This proved to be unsuccessful, and the landscaping supply outlets were promptly closed within five years.
They finally go online…
However, they soon came up with an alternative, adding an online shopping feature for customers to select furnishes at the click of a button. Their next step was to acquire their leading competition, Hughes Supply. They bought the company out for a whopping $3 billion.
Although Home Depot was geared to become an unstoppable giant, it still faced some hardships. With this in mind, it was decided that Nardelli should step down from his role as CEO.
Nardelli was too much like Ming!
Marcus and Blank recognized his leadership style to resemble that of the infamous Ming and knew that having him seated will oppose their vision for the company. It was said that Nardelli often sought higher packages for his services, even when sales had suffered, and a raise for other staff had been limited.
Frank Blake, who served as vice chair and vice president, was granted the seat of CEO. They knew they had made the right choice, as he opted for his package and perks to be based on the success of the chain. He took a stance on restructuring old policies that would benefit all and made informed decisions by taking everyone’s opinions to heart.
The Recession Hit Home Once More
Despite their best efforts, the recession of 2008 hit hard, and more than 50 stores had to close their doors with many layoffs in tow.
With a loss in sales of more than $20 billion, they had to close down more stores in China as well. To appeal to customers that were stretching each penny twice over, the slogan “More saving. More doing” was launched.
Credit card scandal in the company!
Although Blake had done a wonderful job in managing the crisis, he decided to take on fewer duties by stepping down as CEO but remaining as chairman of the board. Craig Menear, a long-time Home Depot employee, stepped in as the new CEO in 2014.
An unfortunate breach of credit card information security caused a huge knock on the reputation of the company. Home Depot sought to remedy the situation by providing free credit card monitoring services on request for a limited time.
The Company Today
The latest slogan for home depot, “How Doers Get More Done,” was introduced in 2019. Menear stepped down as CEO and continues to serve as chairman of the board as of 2023, with Ted Decker now in the role of CEO. With more than 2000 stores across North America and half a million employees, this household name is sure to stay.
Some More Info On The DIY Store!
Have you ever wondered Who Is The Voice Of The Home Depot Commercials? Well, then check it out and find out more! As well as When Does Home Depot Restock, Does Home Depot Have A Senior Discount, and the money-saving Home Depot 11% Rebate available in 2023.
Or perhaps, you’d like to work at the store? If so, check out our in-depth guide to the Home Depot Application and the most common Home Depot Interview Questions to help you prepare.
Before applying, take a look at How Old Do You Have To Be To Work At Home Depot, in case you’re still in school, and if you make the cut, check out the Home Depot Dress Code and How Much Does Home Depot Pay for your rates and work hours.
Home Depot Slogan – Final Thoughts
Marcus and Blank’s memoirs explain it perfectly. They were just “regular guys” and good friends that wanted to build a company that reflected the hard work and dedication their customers put into improving their homes.
They got it done, by doing. You can too!
