Are you looking Ace Hardware franchise? But are still confused about whether this Franchise is a good investment or not?
Do not worry, as, in this article, we will provide all the information related to Franchise. So let’s begin.
About Ace Hardware
In 1924, Chicago’s Richard Hesse, E. Gunnard Lindquist, Frank Burke, and Oscar Fisher founded the Ace Hardware organization as the organization progressed and built a reputable name for itself.
The idea of becoming a retailers cooperative grew into a realistic opportunity. In 1967, Stores were officially flooding the markets, and entrepreneurs were looking to invest in good associations.
There are currently more than 5858 stores operating across the globe. And Ace is the largest retailer-owned appliance cooperative in the world.
They offer tremendous opportunities for those who want to build a profitable and lasting business.
History Of Ace Hardware Franchise
The Ace Hardware Corporation was founded as “Ace Stores” in 1924 and changed its name to “Ace Hardware Corporation” in 1931.
Its popularity skyrocketed after WWII, with sales more than tripling between the late 1940s and 1959.
Furthermore, Ace was sold to its retailers after the longstanding president and founder Richard Hesse retired in 1973, and it became a retailer-owned cooperative. Its wholesale sales peaked at $1 billion in 1985 and $5 billion in 2015.
Ace also has 17 distribution hubs in the United States and locations in China, Panama, and the United Arab Emirates.
Ace Hardware Franchise Model
|Initial Investment||$292,000- $2,119,230|
|Total Outlets||5858 Stores|
The Ideal Candidate For The Ace Hardware Franchise
- Hard worker
- Management organization skills
- Good communication skills and sales skills
- Track Record of Success
- Leadership Quality
- Must know about marketing
The Ace hardware store provides virtual training, classroom training, and personal training conducted in the headquarter of Ace Hardware in Oak and select regional areas.
The New investor who doesn’t have a franchise of Ace Hardware has to complete the Base camp New investor training before opening the store.
There are more than 1600 courses available for investors to train them. The investors can schedule their training sessions for individual retailers.
The company also provides training sessions and workshops on topics of interest to store owners and managers twice a year.
Renewal Of Agreement
There is no specified time limit set on the agreement. There is no fixed policy related to the renewal of the agreement or extension of the agreement.
Ace Hardware Comparison
|Company||Ace Hardware||Mac Tools|
|Initial Investment||$292,000- $2,119,230||$380,000 – $453,000|
|Annual Revenue||$8.6 Billion||$546 Million|
Who bought Ace Hardware?
A Tennessee Retail Group has acquired ace Hardware.
How many stores does Ace Hardware have in the United States?
There are more than 4,647 stores operating in The United States.
How much does it cost to buy an Ace Hardware franchise?
New investors of Ace Hardware Franchise can expect to pay a $5000 franchise, and they need an initial investment of $292,000- $2,119,230.
In 2022, will Ace Hardware offer a franchise?
As of 2022, Ace Hardware is a retailer-owned cooperative with the majority of store locations controlled by independent owners.
What is the total no. of franchise locations?
There are 4500+ franchised ACE Hardware shops in the United States as per the 2021 Franchise Disclosure Document.
Is It Worth It To Own Ace Hardware?
Ace Hardware is a great business to own because the income from a franchise can be well over $80,000 per year.
How much profit does the owner make with the ACE Hardware franchise?
Local demand for your product, labor expenses, commercial lease rates, and various other factors all have a role in franchise revenue and profitability.
Is Ace Hardware a Franchise?
Ace Hardware is a wholesaler of hardware products and other merchandise that offers franchise opportunities to operate a retail hardware store under the name “Ace Hardware.”
Amit Gupta is the founder of DrFranchises – a digital marketing agency that helps brands rank better on Google Maps through local SEO strategies. Amit has over 11 years of experience in digital marketing, SEO, email marketing, and social media marketing. He’s also the owner of multiple franchises and has helped countless brands achieve success online. When he’s not working, Amit can be found playing with his dog.