How Lowe's Built a Home Improvement Empire on This Basic Economic Model

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What do businessmen do when they see a demand for something?

Well, they supply.

That's exactly what H. Carl Buchan did during late 1940s and early 50s.

Buchan was just a partner at Lowe's (LOW) - Get Report  in 1943. 

He knew that there would be demand for housing post-World War II so he focused the store on hardware and building materials.

He then went on to become the sole owner of the hardware business and he quickly branched his company throughout North Carolina and rest they say is history.

Standing today, the company is world's second largest home improvement retailer. 

Find out more about the company in the video above.

Related: Jim Cramer: Lowe's Is Showing How a Turnaround Should Be Done

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