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 stores does Ace Hardware have?
After years of initial success and a considerable expansion across the country, Ace Hardware began franchising in 1976. Today, Ace has more than 5,000 independently-owned stores operating across the globe. And we know that Ace generates nearly $16 billion in sales.
Who is Ace Hardware?
Ace Hardware has over 5,000 stores around the world with the majority of those stores independently owned and operated by local entrepreneurs. These hard working men and women are part of the fabric of your community. They are small business owners who are local and loyal...just like it ought to be.
How much do Ace Hardware owners make?
Ace Hardware franchise owners reportedly make an average of $83,500 each year. However, some Ace Hardware stores may earn as much as $95,000 per year, making the firm a viable acquisition. Is It a Good Idea to Own Ace Hardware?
Are Ace Hardware stores 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.
How much does an Ace Hardware franchise 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.
How many Ace franchises are there?
Over 5,600 stores across the globe prove the success of the business model.
Is Ace a good franchise?
Currently, there are more than 4,000 Ace Hardware franchises in the United States. They are consistently ranked as one of the best franchises to own by several different websites. If you already own a hardware store, they have a process where you convert that store into an Ace franchise.
What franchise is the most profitable?
Most Profitable FranchisesDunkin'7-Eleven.Planet Fitness.JAN-PRO.Taco Bell.Orangetheory Fitness.Great Clips.Mac Tools.More items...•
What is profit margin at Ace Hardware?
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.
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.
How much money do I need to start a hardware store?
An independent hardware store can control startup costs. An independent store might need between $50,000 to $75,000 to get started where a franchise might require anywhere from $275,000 to $1.6 million.
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.
What is the largest hardware store in the US?
Hartville HardwareHartville Hardware - America's Largest Hardware Store.
Are Lowes franchises?
The Home Depot, Lowe's, and Menard are more traditional corporations, while Ace, Do It Yourself, and True Value employ the owner-operator model, but without the structure of franchise fee and ongoing royalties. Still, there are entry costs of anywhere from $650,000 to $1 million or more, depending on store size.
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.
What is the cost of McDonald's franchise?
The Franchise fee of McDonald's goes for around 30 lakhs INR; however, this fee is also attached with a 4 % monthly royalty fee as service fees to the brand. The actual investment amount differs, a business owner needs to keep a rough estimate of around 6 to 14 Crores.
How do I start a mini hardware business?
How to start a hardware store in 5 stepsDecide between opening your own hardware store or starting a franchise. ... Write a business plan. ... Invest in supplies and excellent customer service. ... Obtain the necessary permits, insurance and a business bank account. ... Adapt your inventory, marketing and staffing.
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.
About Ace Hardware
We are your local hardware store and we are a part of your community. Ace Hardware has over 5,000 stores around the world with the majority of those stores independently owned and operated by local entrepreneurs. These hard working men and women are part of the fabric of your community.
Ace in the Community
At Ace, we believe in giving back to the communities in which we serve. What better way than to help those in need?
Globally Trusted, Locally Embraced
Ace Hardware provides its international retail partners with the requisites to build a solid enterprise. Ace Hardware stores operate in over 60 countries and the numbers continue to grow.
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.
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.
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 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.
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.
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!
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 is an ace hardware store?
Founded in 1924 by a small group of Chicago hardware store owners, Ace changed the retail landscape by allowing individual stores to purchase merchandise in bulk to save money and buy at the lowest possible price. As an Ace Hardware owner, you gain the support and knowledge of a dedicated and experienced team of experts who provide extensive training to help you make an effective entry into the "DIY" consumer market. Ace also helps in converting an existing store to an Ace Hardware store. nn Franchise Opportunities /
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