How much does it cost to open Ace Hardware franchise?
ACE Hardware has a franchise fee of up to $10,000, with a total initial investment range of $292,000 to $1,079,230. The initial cost of a franchise includes several fees -- Unlock this franchise to better understand the costs such as training and territory fees. How much does an ACE Hardware franchise make?
How many locations does Ace Hardware have in the US?
Based on 2020 FDD data, ACE Hardware has franchise locations in 48 states plus DC. The largest region is the South with 1252 franchise locations. This franchise is expanding into new markets and might be available near you. One of our franchise experts will have detailed knowledge about this brand.
Can you convert an existing hardware store to an Ace Hardware?
An alternative approach is to convert an existing hardware retail store into an Ace Hardware location. Ace reports that converted stores typically experience an 11% lift in retail sales, 12% increase in gross margins, and a 24% boost in gross profits post conversion.
How is Ace Hardware graded?
ACE Hardware is graded based on our most recent research. ACE Hardware stores stock and sell hardware, household tools, and much more. It is a hardware retailers' cooperative that offers franchises and conversion opportunities for independent retailers.
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...
How much does it cost to own an Ace Hardware?
What Does a 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.
Who owns the Ace Hardware franchise?
the SM Group of CompaniesACE Hardware is an affiliate of the SM Group of Companies.
Can you make money owning a hardware store?
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 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.
How much does an 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 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.
How much does the CEO of ACE make?
At Ace Hardware, the most compensated executive makes $450,000, annually, and the lowest compensated makes $53,000.
How much is it to buy a Taco Bell franchise?
Costs overview Franchising fee: It costs between $25,000 and close to $50,000 for the initial franchise fee. This, too, will vary depending on the details of your specific Taco Bell franchise. Net worth: The current net-worth requirement is around $1.5 million worth of assets.
How much do hardware owners make?
Average Ace Hardware Business Owner yearly pay in the United States is approximately $75,111, which is 17% above the national average.
Do Hardware stores make a lot of money?
Although a good performing hardware store makes an average net profit of 10% on its daily sales, 80% of those who venture into this business close their shop in less than 2 years due to losses and cash-flow problems.
How much money do I need to open a hardware store?
How much does it cost to start a hardware store in India? If you are planning for starting a complete Paint and hardware store then it can cost up to 5-8 lakhs.
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.
Are Ace Hardware stores 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.
How much is it to buy a Taco Bell franchise?
Costs overview Franchising fee: It costs between $25,000 and close to $50,000 for the initial franchise fee. This, too, will vary depending on the details of your specific Taco Bell franchise. Net worth: The current net-worth requirement is around $1.5 million worth of assets.
How do you open a hardware?
How to Open a Hardware Store in 7 StepsDecide whether to open a franchise or independent store.Create a business plan.Choose a legal business entity.Get business financing.Obtain licenses, permits and small business insurance.Apply for an EIN.Open a business bank account.
How much does an ACE Hardware franchise make?
Franchise revenue and profits depend on a number of unique variables, including local demand for your product, labor costs, commercial lease rates and several other factors. We can help you figure out how much money you can make by reviewing your specific situation. Please unlock this franchise for more information.
What is ACE hardware?
ACE Hardware stores stock and sell hardware, household tools, and much more. It is a hardware retailers' cooperative that offers franchises and conversion opportunities for independent retailers.
How many franchise locations do they have?
As of the 2020 Franchise Disclosure Document, there are 4370 franchised ACE Hardware locations in the USA.
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.
How much money has Ace raised?
Ace has raised over $100 million for both organizations through monetary and product donations.
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 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.
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.
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.
