Ace Hardware is a unique franchise opportunity because the company is a retailer-owned cooperative, meaning Ace franchisees are the owners of the corporation . Being part owners, franchisees pay no royalty fees and a portion of the profits get distributed back to them each year.
Are ace hardware stores profitable?
For close to 100 years now, Ace Hardware has been rated as the America’s top neighbourhood hardware retailer. They are considered to be a leader in the ever lucrative $300 billion home improvement industry . The company is offering a big opportunity for entrepreneurs that have the desire and passion to build a lasting and profitable business.
With that being said, Ace Hardware is one that can give you that feeling of being welcome and appreciated . Both as a customer and as a franchisee. And it’s definitely rated for being one of the best franchise opportunities in this industry. Let’s find out why. As I said, small businesses mean closer relationships and more personal customer service.
While the hardware store category performed well, high-profit hardware stores continued to be a step above the rest. High-profit hardware stores generated nearly $400,000 more in sales than typical stores and had an average profit margin of 7.4 percent compared to typical stores’ 2.9 percent.
How many ace hardware stores usa?
There are a total of 4,146 Ace Hardware locations in United States as of February 08, 2021. The state with the most number of Ace Hardware locations in the US is California with 358 locations, which is 8% of all Ace Hardware locations in America.
While we were reading we ran into the inquiry “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.
Ace operates 17 distribution centers in the United States, and additional distribution facilities in China, Panama, and the United Arab Emirates. In 1924, to increase buying power and profits, entrepreneurs Richard Hesse, E. Gunnard Lindquist, Frank Burke and Oscar Fisher united their Chicago, Illinois, hardware stores into “Ace Stores”.
How many Ace Hardware stores are there in UAE?
In 1991, Al-Futtaim Group obtained the licensing rights for ACE in the Middle East, now ACE stores trade in six different locations in the United Arab Emirates alone, holding significant market share in the categories of outdoor furniture, Power Tools, gardening and do-it-yourself in the UAE.
How much does it cost to buy 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. Are Ace Hardware stores franchises?
Today the Ace Hardware family of stores generates nearly $16 billion in sales (versus approximately $100 billion in revenue for Home Depot).
By the end of the 1940s, Ace had wholesale sales of more than $7 million from the 133 stores it supplied. By its 35th anniversary in 1959, the company had more than tripled this figure, with wholesale sales of $24.5 million from 325 stores.
Is Ace Hardware a part of your community?
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.
While reading we ran into the query “What is Ace Hardware known for?”.
Ace Hardware was founded in 1924 when entrepreneurs Richard Hesse, E. Gunnard Lindquist, Frank Burke, and Oscar Fisher united their Chicago, Illinois hardware stores into “ Ace Stores .” Their combined buying power enabled the store owners to negotiate lower prices on merchandise purchased from wholesalers.
Ace Hardware’s history begins in 1924 , when four hardware store owners, Richard Hesse, E. Gunnard Lindquist, Franke Burke and Oscar Fisher, joined together to buy merchandise in bulk in order to maximize their profits and compete effectively with larger stores.