Fastenal: What is the business?
I started working at Fastenal during the fall semester and turned it into an internship for the spring. The business is distributing industrial supply to local companies and industrial vending. There are three Fastenal stores in the city of Philadelphia, but the branch I work at is in Port Richmond servicing most of North Philadelphia. Fastenal manufacturers most of the hardware we have in China, but has particular lines that are certified “made in America”. The other products (tools, safety equipment, and electrical) have brand names that are exclusively sold by Fastenal. Walk-in customers buy product from our store with cash or credit card. An account customer is one that has the option to “charge” their purchases to a line of credit that is paid within 60 days. The account customers such as General Electric, Menasha and HMC tend to make up the majority of a branches’’ profits.