How Many Locations Does L&M Supply Have?

L&M Supply is a 75 year old company that sells construction and industrial materials and equipment. Their products include tools, safety gear, concrete, lumber, electrical supplies, and more. The company was founded in Texas in 1946 and has grown to become one of the largest building material distributors in the United States.

This article will focus specifically on the number of retail locations L&M Supply operates. We’ll look at how many stores they currently have open, how this number has changed over time, the different formats of L&M Supply stores, and the company’s overall real estate and expansion strategy.

About L&M Supply

L&M Supply is a building supply wholesale company that was founded in 1971 in Raleigh, North Carolina. The company sells building materials like roofing, siding, insulation, gypsum, drywall accessories, and more to professional contractors. L&M Supply has established itself as one of the leading wholesale building materials suppliers in the Southeastern United States.

L&M Supply’s headquarters is located in Raleigh, North Carolina, which is where the company was originally founded. Starting as a small local business, L&M Supply has grown over the past 50 years into one of the largest building material suppliers in the region, while still maintaining its reputation for personalized customer service.

According to the company’s website, L&M Supply now operates over 20 locations across North Carolina, South Carolina, Virginia, Georgia and Tennessee. The company has strategically expanded across the Southeast U.S. to provide contractors and builders with convenient access to its wide range of construction supplies.

Current Number of Locations

L&M Supply currently operates 356 store locations across 19 states in the Midwest and Southeast regions of the United States. The company has a strong presence in Ohio, Indiana, Illinois, Michigan, Kentucky, Tennessee, Georgia, Alabama, Mississippi and Florida.

The breakdown of L&M Supply store locations by state is as follows:

• Ohio: 87 locations
• Indiana: 68 locations
• Illinois: 53 locations
• Michigan: 42 locations
• Kentucky: 35 locations
• Tennessee: 25 locations
• Georgia: 22 locations
• Alabama: 18 locations
• Mississippi: 13 locations
• Florida: 10 locations

The remaining locations are distributed across Arkansas, Louisiana, Missouri, North Carolina, South Carolina, Virginia, West Virginia and Wisconsin.

Locations Over Time

L&M Supply has experienced steady growth in the number of locations it operates since the company’s founding in 1971. The first L&M Supply store opened in Los Angeles, California that year. Over the next decade, the company expanded primarily in Southern California, opening 5 additional locations in the Los Angeles metro area by 1980.

L&M Supply began expanding more rapidly in the 1990s, opening its first stores outside of California. By 1995, the company had 15 total locations across 5 states. Some key milestones include the opening of the first stores in Arizona (1992), Nevada (1994), and Oregon (1995).

In the 2000s, L&M Supply accelerated its national expansion. The company surpassed 100 locations in 2005 and reached 200 locations by 2010. Much of this growth came from new stores in the Midwest, South, and East Coast. Today, L&M Supply has over 300 locations across 42 states.

Store Format

L&M Supply stores come in various sizes and formats depending on the location and market. The average store is around 25,000 to 30,000 square feet.

The larger locations are usually between 30,000 to 50,000 square feet. These stores have the widest product selection including lumber, building materials, tools, electrical supplies, plumbing, and more. Many of the larger stores also have design centers to assist with kitchen, bath, flooring, and other home improvement projects.

The mid-sized stores around 25,000 square feet offer a condensed version of the larger store selection. These stores focus more on DIY customers looking for essential hardware and basic building materials.

The smallest store formats under 15,000 square feet are limited hardware and convenience stores meant to serve local neighborhoods. They provide more grab-and-go type selections for small repairs, home maintenance, and minor projects.

Regardless of size, L&M Supply stores aim to cater to both contractors and DIY customers. The layout, inventory, and services are adjusted based on the target demographic for that particular location and community.

Real Estate Strategy

L&M Supply takes a very strategic approach to its site selection and real estate decisions. The company focuses on targeting markets with strong growth potential, based on economic and demographic trends. According to the company’s CEO Scott Leith in an interview with Forbes, L&M analyzes population shifts and economic projections to identify the best markets for future stores.

Specifically, L&M targets fast-growing suburban areas where new residential construction is booming. The company looks for upper-middle class neighborhoods where home renovation and remodeling projects are popular. L&M store locations need to be accessible to both DIY homeowners as well as building contractors who make frequent supply purchases.

Future Expansion Plans

L&M Supply has ambitious growth plans for the future. According to their 2021 annual report, L&M aims to open at least 50 new locations per year over the next 3-5 years. This rapid expansion will focus on major metro areas in the Southeast and Midwest regions where L&M does not currently have a large presence.

Specific target markets for growth include Atlanta, Nashville, Indianapolis, Columbus, and Cincinnati. These cities represent major metro areas that fit L&M’s criteria for new store locations – large population, growing economy, favorable real estate opportunities, etc. By entering these untapped markets, L&M hopes to significantly increase its customer base and market share.

“We see a real opportunity to bring the L&M experience to new customers in thriving cities across the Southeast and Midwest,” said CEO Tom Johnson in the annual report. “Our goal is to have over 500 locations within five years.”

To support this growth, L&M has bolstered its real estate and construction teams. The company plans to invest over $200 million in new store openings each year. L&M’s past track record of successful expansion into new markets gives confidence it can achieve its ambitious goals.

Competitive Analysis

L&M Supply faces competition from several major retail and wholesale building supply companies. Key competitors include Lowe’s, The Home Depot, Menards, and Ace Hardware. In terms of number of locations, L&M Supply is significantly smaller than the national big box retailers:

• Lowe’s has over 2,000 stores in North America.
• The Home Depot operates around 2,300 retail stores.
• Menards has over 300 stores located mostly in the Midwest.
• Ace Hardware has approximately 5,000 locally owned and operated stores.

With around 200 locations, L&M Supply has a much smaller geographic footprint compared to these large national chains. However, L&M Supply is able to effectively compete by focusing on excellent customer service, localized inventory, and building strong community relationships. The company’s smaller size allows it to tailor its offerings to the specific needs of each local market.

Impact on Customers

L&M Supply’s extensive network of locations has a significant impact on accessibility and convenience for customers. With over 500 stores across North America, L&M Supply aims to have a location within a reasonable driving distance from their customers’ service areas [1]. This proximity to residential and commercial service areas enables contractors, homeowners, and other customers to easily visit a local L&M Supply store when they need materials for a project.

The broad footprint provides customers with more options to find the products they need quickly without traveling long distances. Locating stores in close proximity to service areas makes L&M Supply stand out as highly accessible and convenient compared to competitors with fewer locations. With continued expansion planned, L&M Supply hopes to further boost convenience and meet customers wherever they are located.

Conclusion

In conclusion, L&M Supply currently operates over 150 store locations across the United States. The company has grown steadily over the past decade, opening new stores each year to expand its footprint and serve more customers.

With its successful mix of retail stores and online sales, L&M Supply is well positioned for continued growth and expansion opportunities going forward. The company’s leadership sees room to open dozens of additional locations in coming years. This growth will allow L&M Supply to increase its market share and provide its signature products and services to even more customers across the country.