How much does it cost to open Ace Hardware franchise?
When investing in an Ace Hardware Franchise, the first factor to consider is the financial requirements that accompany this endeavor. The total investment amount required to open an Ace Hardware franchise ranges from $286,000 to $2,110,230 including the company’s franchise fee of $5,000.
How many Ace Hardware stores are there?
In 1976, Ace hardware stores were officially on the market for entrepreneurs looking to invest in a promising association. There are currently more than 5,000 independently owned Ace Hardware stores operating across the globe (though most are in the United States), making Ace the largest retailer-owned appliance cooperative in the world.
Is Ace Hardware a good business to start?
For more than 96 years, Ace Hardware has been America's neighborhood hardware retailer. Recognized as leader in the booming $358 billion home improvement industry, Ace Hardware is offering a tremendous opportunity for those wanting to build a profitable and lasting business.
Who is the founder of Ace Hardware?
Chicago’s Richard Hesse, E. Gunnard Lindquist, Frank Burke and Oscar Fisher founded the Ace Hardware organization in 1924. As the company progressed and built a reputable name for itself, the idea of Ace becoming a retailers' cooperative grew into a realistic opportunity.
Are Ace Hardware's franchised?
Ace Hardware is a retailer-owned cooperative where independent owners operate the majority of locations, even though it is sometimes considered a franchise system, Ace “franchisees” or retailers not only own their individual stores, but also serve as shareholders in the organization.
Are Ace Hardware's independently owned?
As a cooperative, Ace Hardware stores are primarily individually owned and operated. Being locally owned means their customers are their friends, their neighbors and their fellow citizens.
How much is a Ace Hardware franchise?
New owners can expect to pay a $5,000 franchise fee for the rights to open their own location, but it costs anywhere from a total of $272,500 to $1,574,230 to open an Ace Hardware franchise, assuming this is a new location.
Is Ace Hardware a good franchise?
Ace Hardware ranked No. 12 on Entrepreneur's 2022 Franchise 500 list.
Who owns the most Ace Hardware franchises?
The Melnicks -- Jeremy, 43, and dad Les, 67 -- own six of the 4,794 Ace Hardware stores that make up the country's largest retail cooperative outside the grocery sector.
How much does a Ace Hardware owner make?
How much does a Business Owner make at Ace Hardware in the United States? Average Ace Hardware Business Owner yearly pay in the United States is approximately $75,111, which is 17% above the national average.
What is the most profitable franchise?
Top 14 Most Profitable FranchisesMcDonald's. Units in operation: 39,360. ... Dunkin Donuts. Units in operation: 12,800. ... Taco Bell. Units in operation 12,800. ... Subway Franchise. Offers Financing: Yes. ... Anytime Fitness Franchise. Units in operation: 4,904. ... Sonic. Royalty: 2.5% - 5.0% ... Planet Fitness. Royalty 7.0% ... Orangetheory Fitness.More items...
What is the royalty fee for Ace Hardware?
No royalty fees and a portion of the company profits are distributed back to the retail owners each year. Independent ownership with dedicated training & support. Flexible product mix that can be customized to your local market. Recommended core Ace product mix based on 25 years of Point-of-Sale data.
Is a hardware store a good investment?
Opening a hardware store can be a lot of work but with the right plans and tools, it can be an exciting investment. With the rise of DIY home projects, the hardware industry is booming with a market size of $35 billion reported in 2021. Read on to learn how to open a hardware store in seven steps.
What is profit margin at Ace Hardware?
Retail gross profit for the three months ended April 2, 2022 was $73.0 million, a decrease of $3.1 million from the first quarter of 2021. The retail gross margin percentage was 46.6 percent of retail revenues in the first quarter of 2022, down slightly from 46.8 percent in the first quarter of 2021.
Is a hardware store profitable?
Is owning a hardware store profitable? Owning a hardware store can be a profitable business venture. This is because hardware shops typically have high margins. This means that the store can sell products at a higher price than it paid for them, and thus make a profit.
Who is Ace Hardware owned by?
the SM Group of CompaniesCurrently, Ace Hardware has more than 100 branches all over the country. ACE Hardware is an affiliate of the SM Group of Companies.
Who is Ace Hardware owned by?
the SM Group of CompaniesCurrently, Ace Hardware has more than 100 branches all over the country. ACE Hardware is an affiliate of the SM Group of Companies.
Who is the owner of Ace Hardware Philippines?
The Birth of ACE Hardware Philippines A year after the establishment of Coby's Design Center, Johnny Cobankiat pursued yet another huge business venture in hopes of easing the Filipino living. He introduced the first ever branch of ACE Hardware in the Philippines.
Who bought Ace Hardware?
Ace Hardware, which has nearly 5,000 stores in the United States, is the newest brand for multi-concept operator CMG Cos. Al Bhakta and CMG Cos.
Are True Value and Ace Hardware owned by the same company?
Salida's True Value Hardware is now Ace Hardware. “True Value is going a different direction than we wanted to,” store owner Jim Fontana said. “Ace just built a new warehouse in Colorado Springs, which means we can get three deliveries per week instead of one.”
Top 20 Most Popular Franchises: Ace Hardware
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Ace Hardware Franchise Cost
When investing The financial statements are documents with information on the business activities and financial performance of companies. There are 2 types of financial statements. 1-Private use: The... More in an Ace Hardware franchise, the first factor to consider is the financial requirements that accompany this endeavor.
Ace Hardware Stores Are Growing in Numbers
When evaluating an Ace Hardware franchise’s potential for growth one does need to go beyond their internal numbers to better understand the prospect for success of the investment opportunity at hand. Ace Hardware currently operates 4,700 U.S.-based stores and more than 540 international stores.
What Does an Ace Hardware Franchise Cost?
To buy a franchise with Ace Hardware, you'll need to have at least $250,000 in liquid capital and a minimum net worth of $400,000. Franchisees can expect to make a total investment of $650,000 - $1,000,000. They also offer financing as well as a discount for veterans (10%). *
How long has Ace Hardware been around?
For more than 96 years, Ace Hardware has been America's neighborhood hardware retailer. Recognized as leader in the booming $358 billion home improvement industry, Ace Hardware is offering a tremendous opportunity for those wanting to build a profitable and lasting business.
Do royalty fees go back to the retail owners?
No royalty fees and a portion of the company profits are distributed back to the retail owners each year
Is Ace Hardware a neighborhood store?
For more than 96 years, Ace Hardware has been America's neighborhood hardware retailer. Ace Hardware is offering a tremendous opportunity for those wanting to build a profitable and lasting business. With financial backing and support from a globally trusted and locally embraced brand, the ultimate success can be yours with Ace. Request information today to learn more!
How to become an Ace Hardware franchise owner?
Also you should choose required concept - or open a new store, or convert your store to Ace, or add Ace to your grocery store. Assess market availability. You will want to look at the market availability for Ace Hardware ...
How many Ace stores are there?
After the retirement of longtime president and founder Richard Hesse in 1973, Ace was sold to its retailers, becoming a retailer-owned cooperative. It first reached $1 billion in wholesale sales in 1985 and $5 billion in 2015. As of 2016, it has over 4,800 locations in 60 countries. Ace operates 17 distribution centers in the United States, and additional distribution facilities in China, Panama, and United Arab Emirates.
How many Ace distribution centers are there?
Ace operates 17 distribution centers in the United States, and additional distribution facilities in China, Panama, and United Arab Emirates.
How many locations does Ace have?
It first reached $1 billion in wholesale sales in 1985 and $5 billion in 2015. As of 2016, it has over 4,800 locations in 60 countries.
Who is the franchisor of Ace Hardware?
The franchisor of the brand is Ace Hardware Corporation. In the US, Ace operates as a retailer-owned cooperative. To explain, franchisees with approved applications get a membership in the coop upon purchase of stock shares. This membership also gives a person the right to buy products and services from the franchisor.
Where is Ace Hardware located?
The brand is a game-changer in retail because it allowed individual stores to buy products in bulk and get them at the lowest possible rates. The company, with its main office in Oak Brook, Illinois, now has over 5,000 stores around the globe.
What is The Real Cost of A Lemonshark Poke Franchise?
However, other fast-casual restaurants may also have a place and opportunity to become an investment in the long run. One of them is LemonShark Poke, self-dubbed as a “fine casual” offering healthier food options for consumers needing a quick bite.
How long is franchising phase 1 training?
The franchisor may conduct the Phase I training at a chosen location or via video call or webinar. This training will last five days. However, the duration may vary depending on the participants’ experience, knowledge, or qualifications. After they complete Phase I training, they will proceed to Phase II training which will last another five days.
How much money has Ace raised?
Ace has raised over $100 million for both organizations through monetary and product donations.
How many owners and managers are required to complete the Phase I and II training?
A minimum of one owner or manager must attend the Phase I and Phase II training programs and complete both satisfactorily. Moreover, the owner and manager must attend the Phase II training program and complete it according to the franchisor’s satisfaction. The requirements for the training may vary according to the participant’s experience.
What is Oak Brook's new owners institute?
There’s a required training program in the Oak Brook main office called New Owners Institute. Under this course, new owners learn the tools and resources, and best practices in the trade. Included in the program are lessons about managing finance, inventory, marketing, human resources, and other facets.
Background
Make your dream of business ownership a reality with Ace Hardware For more than 85 years, Ace Hardware has been America's neighborhood hardware retailer.
Support and Training Offered By Ace Hardware
Training: Available at headquarters prior to opening. Ongoing training at franchisee's location. Comprehensive operations manuals provided. Training is offered in all functional areas of operation, service and promotion:
Franchises Similar to Ace Hardware
The International Franchise Professionals Group (IFPG) is an internationally recognized membership-based franchise organization. IFPG Franchise Consultants guide aspiring business owners through the process of identifying and investing in franchise businesses. The IFPG represents more than 550 franchises.
