How much do owners of Ace Hardware franchises earn? 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.
How much do Ace Hardware driving jobs pay?
How much does Ace Hardware - Driving in the United States pay? Average Ace Hardware hourly pay ranges from approximately $13.42 per hour for Local Driver to $22.91 per hour for Truck Driver. The average Ace Hardware salary ranges from approximately $71,443 per year for Truck Driver to $75,000 per year for Driver.
How much do Ace Hardware store owners make?
The manager-owners of Ace Hardware Franchise stores reportedly average $83,553 per year, and some make as much as $95,251. The average store is yielding about $138 per square foot per year in sales — with the average size of Ace Hardware stores being 8,000 feet, this average yield is nothing less than remarkable!.
How much do Ace Hardware retail jobs pay?
How much does Ace Hardware - Retail in New York State pay? Average Ace Hardware hourly pay ranges from approximately $13.08 per hour for Customer Service Associate / Cashier to $21.87 per hour for Garden Associate. The average Ace Hardware salary ranges from approximately $15,000 per year for Cashier/Sales to $62,569 per year for Store Manager.
How much do Ace Hardware managers make?
When factoring in bonuses and additional compensation, a Store Manager at Ace Hardware can expect to make an average total pay of $52,687 per year. How much should you negotiate?
How much profit does an Ace Hardware store make?
$361.8 millionRetail gross profit for fiscal 2021 was $361.8 million, an increase of $27.4 million from fiscal 2020. The retail gross margin percentage was 44.6 percent of retail revenues in fiscal 2021, a slight increase from 44.5 percent in fiscal 2020.
Is Ace Hardware a good franchise to own?
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.
Is owning 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.
How much does it cost to open 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.
Who owns the most Ace Hardware stores?
Home Depot was still 29 years away from opening its first location. Amazon CEO Jeff Bezos was 14 years shy of being born. 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.
Who owns the Ace Hardware franchise?
the SM Group of CompaniesACE Hardware is an affiliate of the SM Group of Companies.
How much money does it take to open 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. However, a franchise has a proven brand and system to work a community and make money.
How much does it cost to setup a hardware store?
If you are planning for starting a complete Paint and hardware store then it can cost up to 5-8 lakhs.
What is the average profit margin for a hardware store?
Hardware shop is estimated to have a profit margin of around 15% on average.
What is the ongoing royalty fee for Ace Hardware?
Financial Requirements and Fees One thing that Ace Hardware offers that catches most interested franchise applicants' eye is that they offer no ongoing franchise and royalty fees.
How much does a Taco Bell franchise cost?
between $1.2 million and $2.6 millionTotal cost: A standalone Taco Bell franchise location is estimated to cost between $1.2 million and $2.6 million, exclusive of land and lease costs. Initial investment: Initial investments will vary significantly based on your location and the type of restaurant.
What is the franchise cost of Mcdonalds?
Most McDonald's owner/operators have entered the corporation by purchasing an existing restaurant. A McDonald's franchise requires a total investment of ~Rs 6.6 Cr-Rs 14 Cr, with liquid capital available of Rs 5 Cr. The franchise fee is Rs 30 lakh. As a franchise, you will be charged a service fee of 4% of total sales.
What is the ongoing royalty fee for Ace Hardware?
Financial Requirements and Fees One thing that Ace Hardware offers that catches most interested franchise applicants' eye is that they offer no ongoing franchise and royalty fees.
How is Ace Hardware doing?
On a worldwide basis, Ace added 206 stores in fiscal 2021 and cancelled 86, bringing the worldwide store count to 5,583 at the end of fiscal 2021. Wholesale gross profit for the three months ended January 1, 2022 was $187.7 million, a decrease of $15.8 million from the fourth quarter of 2020.
Are Ace Hardware stores franchised?
Franchise Description: The franchisor, Ace Hardware Corporation, is a wholesaler of hardware products, paint and other merchandise. The franchise offered is for the operation of a retail hardware store under the name “Ace Hardware.” In the United States Ace operates as a retailer-owned cooperative.
How many Ace Hardware franchises are there?
Over 5,600 stores across the globe prove the success of the business model.
Do people feel that they are paid fairly for their work at Ace Hardware?
Indeed’s Work Happiness survey asked over 3,233 current and former employees whether they feel they are paid fairly for their work. Of the responde...
Do you receive overtime pay for your role at Ace Hardware?
Indeed’s survey asked over 1,308 current and former employees what the overtime policy was for their role at Ace Hardware. The most popular answer...
How often do you get pay raises at Ace Hardware?
Indeed’s survey asked over 1,633 current and former employees how often they received pay raises when they worked at Ace Hardware. Most respondents...
Do you get paid sick days at Ace Hardware?
Indeed’s survey asked over 2,499 current and former employees how many paid sick days they received for their role. Respondents said they received...
What kind of flexibility benefits can you get at Ace Hardware?
To find out what kind of flexibility benefits Ace Hardware offers, Indeed’s Work Happiness survey asked over 463 current and former employees. Resp...
Do you get paid time off at Ace Hardware?
Indeed’s survey asked over 2,499 current and former employees how many paid vacation days they received for their role. Respondents said they recei...
How much vacation and PTO did you get at Ace Hardware?
We asked over 2,499 current and former employees how many paid vacation days they received for their role. Respondents said they received no paid v...
How much should you be earning?
Tell us about you and get an estimated calculation of how much you should be earning and insight into your career options.
How much does Ace Hardware in the United States pay?
Average Ace Hardware hourly pay ranges from approximately $10.61 per hour for Yard Hand to $22.10 per hour for Order Picker. The average Ace Hardware salary ranges from approximately $21,000 per year for Yard Worker to $102,166 per year for Senior Programmer Analyst.
How many Ace Hardware stores were there in 2016?
2016 average, median, highest, and lowest gross sales for the 1,139 Ace Hardware branded stores participating in the Retail Financial Report, classified into the following retail formats: Hardware Stores (Convenience, Core, and Super), Home Centers, and Contractor-Oriented Supply
Who is the CMO of Ace Hardware?
1. In early July 2018, Ace Hardware announced the appointment of Kim Lefko to the position of senior vice president and chief marketing officer (CMO). Lefko will report directly to John Venhuizen, president and chief executive officer.
What is Ace Hardware giving out?
(VFW) to honor veterans by pledging to give out 1 million American-made flags nationwide, in time for Memorial Day. On Saturday, May 26, consumers were encouraged to visit participating Ace Hardware stores to receive a free 8″ x 12″ American flag (only at participating stores while supplies lasted), while a second flag was donated to a local VFW Post to be used for marking and honoring veteran graves on Memorial Day.
Why is Ace Hardware giving away 1 million flags?
8. The 1 million American flag giveaway aligns with Ace Hardware’s long history of supporting veterans nationwide. In fact, the company’s name is a commemoration of the “Flying Aces,” the courageous fighter pilots from the First World War. Ace Hardware’s patriotism continues through the support of its veteran retailers, and the sincere appreciation for all the veterans and active-duty military who work in Ace Hardware stores, distribution centers, and its corporate offices.
What is hardware store?
Hardware Stores cater to Do-It-Yourself consumers, focusing on repair, replacement, and small projects. Hardware Stores are further separated into three different categories by hardware square footage.
When was Ace Hardware founded?
10. 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. The partners incorporated Ace Stores in 1928 and opened the new company’s first warehouse the following year. In 1931, they changed the company’s name to Ace Hardware Corporation.
What is a home center?
Home Centers serve the small contractor as well as the Do-It-Yourself consumer, carrying basic hardware plus expanded millwork , windows and doors, lumber and building materials, and kitchen and bath lines.
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.
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 many Ace Hardware stores are there?
At present, there are over 4000 Ace Hardware Corporation stores that are in full operation. Ace Hardware Corporation first started as a tools shop in the Chicago area; today it has grown into several stores all over the world.
How to become an Ace Hardware franchisee?
In order for you to become approved as an Ace Hardware franchisee, you will need to be: 1 A hard working person with much zeal for success and with the passion to see your customers satisfied with every service that you render unto them 2 You will need to posses a perfect communication skills and also have the ability to sell effectively 3 You must have a previous track record of success in any venture that you have initially embarked upon.
How many countries does Ace Hardware have?
They have their stores in over 70 countries all over the world. Ace Hardware Corporation Franchise has once been ranked at a time by Entrepreneur Magazine as the #6 Best Franchise business opportunities.
Does Ace Hardware charge royalty?
The Ace Hardware Corporation franchise is one franchise that is very unique and different from most of the other franchise opportunities out there. They do not charge their franchise owners royalty fees, and other franchise fees that are very commonly charged by most of the other franchise opportunities you will likely find.
Is Ace Hardware a global company?
The Ace Hardware is globally recognised and as well embraced locally.
Does Ace Hardware sell franchises?
For a company with close to a century experience in the area of merchandising hardwares, you might want to know if they sell franchise. Yes Ace Hardware sells franchise and they ahve been doing that since the year 1976. And it will be a great choice if you can look into dealing with the company, considering their vast experience in the industry.
Do you pay royalty fees for franchise training?
Training is available to all qualified franchisees immediately after sign-up. This training encompasses all areas of the business. You will not pay royalty fees as is required in other franchises. In fact, the company always distribute to their franchise owners a part of the profits made annually.
How long has Ace Hardware been around?
Ace Hardware, America’s neighborhood hardware retailer for more than 95 years, is a recognized leader in the booming $279 billion home improvement industry and offers a tremendous opportunity for those looking to build a profitable and lasting business.
What is the benefit of being the #1 distributor of convenience hardware?
By joining the #1 distributor in convenience hardware you reap the benefits of collective buying power and having a global brand along with independent ownership. You will also have the flexibility to customize your offerings based on your customers’ needs.
Does Ace charge royalties?
At Ace, we don't charge you royalties or any of those "other" fees. Instead, we provide qualified individuals with an incentive package to assist in your opening.
Is Ace Hardware a cooperative?
Ace Hardware is a retailer owned cooperative, meaning Ace retailers are the owners of the corporation. In addition to being part owner of a world-class corporation, you pay no royalty fees and a portion of the profits get distributed back to the retail owners each year.
How much does a general manager make in a hardware store?
A general manager (not owner) of a neighborhood hardware store with quite a bit of experience can make can make around $35k per year. I made $30k per year. The manager I replaced (with 20 years in retail hardware) was making $35k. Assistant managers made ~$24k /year.
How much does it cost to start a store?
If you're starting a store from scratch, you'll probably be looking at around $400,000 (or more) in startup costs.
What is hearth.com?
Active since 1995, Hearth.com is THE place on the internet for free information and advice about wood stoves, pellet stoves and other energy saving equipment.
Is retail hard?
Retail is tough, tough, tough. It's not something to jump into without an extensive amount of management experience. I have a strong background in both retail food and in hardware. Who knows, I may possibly have been able to help Bill if I was in control, but he wanted to man the helm all by himself, and he went down with the ship. There were many other contributing factors that I didn't go into that also led to his failure, most within his control, some out of it, but I feel the enterprise may have been doomed from the beginning. Good luck, though, if you go ahead with it.
Can you get rich from a single hardware store?
You're not going to get rich as joint owners of a single hardware store. If you can grow it to a chain, you might do OK. My wife and I looked into buying the store that I managed, but when we really looked hard at the numbers, it just wasn't going to work out.
