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Entrepreneur has ranked Ace Hardware Corp. in the top 20 on the magazine’s 2016 Franchise 500 list.
Ace Hardware ranked No. 14 overall out of all of the individual businesses evaluated for Entrepreneur‘s list, which looks at franchise opportunities across more than 17 different categories.
“Ace Hardware is thrilled to be recognized as a top franchise opportunity on Entrepreneur’s Franchise 500 list,” says Dan Miller, Ace Hardware’s vice president of retail operations and new business. “Ace Hardware offers entrepreneurs the strength of a brand that is globally trusted and locally embraced, accompanied by a business model that allows you to tailor your product mix to your local market.”
In 2015 alone, 158 new Ace Hardware stores opened in the U.S., bringing Ace’s worldwide store count to more than 4,800 retail locations.
“With no royalty or franchise fees, plus a new store incentive, and a best-in-class support system for new owners, new Ace Hardware retailers are set up for success from the very beginning,” Miller says.
The support Ace Hardware offers owners includes market surveys and analytics, lease negotiation, interior and exterior store design and help with training, day-to-day store operations and marketing, according to the co-op.
Mark Driscoll recently became part of the Ace Hardware co-op when he opened Sugar Grove Ace Hardware in Sugar Grove, Illinois.
“After 36 years running retail grocery chains, I really wanted to break off and start my own business,” Driscoll says. “I have always loved and wanted to stay in retail – but I wanted to find a business opportunity where margins were still lucrative and service still played a major factor. After six months of looking at many opportunities, Ace looked to me like the perfect fit.”
The Entrepreneur Franchise 500 rankings were determined using a formula that considers factors such as financial strength and stability, growth rate and size. The 500 franchises with the highest cumulative scores are ranked in order on the Franchise 500.
