How to Become a Franchisee of Ace Hardware Corporation
Nowadays, there are many franchising businesses to choose from which makes it hard for people to know what will be the best opportunity for them. Meanwhile, some experts believe that hardware industry is the best franchising business since it is the fastest-growing market today.
Another advantage of having a hardware chain is that its products are non-perishable and can last for many years without deteriorating.
Ace Hardware Corporation, one of the leading companies in the hardware market, is a good franchising business because of its popularity and the management system it follows. According to a report, all its chains have an annual retail sales reaching to $13 billion or more, making this one of the fastest-growing corporations in the industry.
Meanwhile, the company website said that total investment is usually $400,000 to $1,100,000. According to Ace, the total investment is based on 14,000 sq ft store, and this may vary depending on the size of the building. The investment already includes operating capital, store fixtures and office equipment, computer system, décor, décor, and signage (land, building cost, and leasehold improvements are not included in the figure).
Additional payments are application fee worth $5,000, stock purchase worth $5,000. Ace also requires interested franchisees to have a capital (cash) worth $250,000 and net worth of $400,000.
The corporation offers incentives to individuals who will open more than one hardware chain, allowing them to save more than 20 percent of their total investment. Incentives include comprehensive business training program, store set-up services, $110,000 inventory discount, grand opening assistance, and complete store design. With all these, a franchisee can save almost $255,000 from his/her capital.
After qualifying as an Ace franchisee, the corporation will be the one to distribute the hardware products and will provide corporate support (consists of 80,000 members) which can help individuals manage their business more effectively.
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