Starting a hardware business is a relatively challenging undertaking: one has to invest a significantly high amount of capital to the storage facility, in addition to the inventory of materials and tools. Just like any other business, the entrepreneur also has to research his prospective market to figure out whether a need exists or not. Experience coupled with proper planning and adequate capital is usually enough to ensure that business becomes a success. The experience part is where the majority of start-ups go wrong. The Ace Hardware franchise offers a solution to the problem beforehand.
About Ace Hardware
Ace Hardware has been in business for a relatively long period: since 1924. The company ranks among the top 100 most recognizable brands globally and is recognized to offer business solutions to enthusiastic hardware entrepreneurs. Ace Hardware is a global company with over 4,850 operational stores, operating in more than 60 countries, and sales revenue of about $10 billion. The company is popular for offering its international retail associates the requisites to develop stable ventures.
Why an Ace Hardware Franchise?
Most franchise opportunities offer their partners awe-inspiring incentives to provoke success in their businesses. Ace Hardware, however, offers what not-so-many franchisors can offer: free opening stock order, no royalties, training support, and a globally recognized brand. The company is a retailer-owned cooperative; as such, Ace retailers own the Ace Corporation. This means that once an individual purchases an Ace franchise, he or she automatically becomes part-owner of the global corporation. As a consequence, one pays no royalty fees and to cap it all up, part of the profits realized by the company are reimbursed to the company owners annually.
By being a member of the top distributor in the convenience hardware (Ace Hardware), a franchisee reaps the benefits of collective purchasing power. And owns (partly) a global brand, along with private ownership. Also, one will also be in a position to customize his or her business to the needs of the market. Some of the perks associated with an Ace Franchise are:
- The #1 brand in the convenience hardware industry
- The Highest Ranking Home Improvement Store
- A dedicated support team that is dedicated to all retailers
- Proven retail programs to see retailers elevate to success and add value to business
- Delving Further into what Ace Hardware offers its Franchisees
A Premier Brand
Within the U.S., Ace Hardware is a company of repute while globally it is a brand that has a firmly established foothold. J.D. Power and Associates positioned the company as the best in home improvement, in terms of customer ranking, eight years in a row.
Training and Support
Ace Hardware owners gain the knowledge and support of dedicated entrepreneurs who have been in business for an extended period. As a result, the methods, strategies, and insights into business offered have been proven to work: franchisees get first-hand information.
Attractive Ownership Packages
Ace’s franchise is unique. Not many businesses, if any, offer their franchisees a package that is similar to the of Ace Hardware. Business partners (franchisees) are not required to pay franchise fees (or royalties). Receive free stock to start their businesses, and are equipped with the requisite support to enable them push their businesses to greater heights.
Some of the support and training programs offered by Ace Hardware include:
- 20/20 vision. This is Ace Hardware’s long-term vision. It is a growth strategy premised on proven focus areas and trade investments. The company’s retailers will have the opportunity to develop a customizable, extensive retail growth plan premised on individual goals
- The Support Place. This is more of a business to business strategy. This strategy will help provoke more business to business revenue-generating activities
- In-Store Pickup. This is a platform developed to enable Ace’s clientele to check the availability of the products it needs via any device – tablet, desktop, Smartphone, etc. – to complete a transaction.
- Other support programs include Helpful Certified, Retail Focus Pricing, Inventory management systems, Product Optimization, and Ace the Learning Place.
The Take Home
Starting a business, especially a hardware store, is challenging. The amount of starting capital, considering the accompanying level of risk and uncertainty, is quite steep. Franchising a business decreases the level of associated risk. By considering an Ace Franchise, one gains proven business strategies, brand recognition, and even the starting capital. Although franchising also has some risks, the costs super cede the benefits by far. If you would like to know more about to opportunity be sure to check out the Business Bayonet and the Business Bayonet Facebook page for more information. The company specializes in helping striving entrepreneurs link up with the right franchise they are looking to get into.