Ace Hardware Jumps to No. 5 Ranking in Franchise Times’ Top 200
Hardware cooperative maintains the number two spot in the retail industry category
Ace Hardware Corporation, the largest retailer-owned hardware cooperative in the world, is pleased to announce it was recently ranked in the top five in the 2019 Franchise Times Top 200, following four straight years ranked at No. 6. The respected annual list ranks the largest U.S. franchises by global sales.
“Ace is proud to be recognized again by Franchise Times as a top franchise, and thrilled to have earned the number five ranking for 2019,” said John Tovar, Vice President Operations and New Business for Ace Hardware Corporation. “We continue to see incredible growth both in new store openings and among our existing retailers, and it is because of our hardworking independent store owners and their commitment to serving their neighbors with the highest-quality products and the convenience their customers expect from Ace.”
Ace Hardware’s move into the top five put the company among elite worldwide companies including McDonalds, 7-Eleven, KFC, and Burger King. Ace Hardware is the only non-food brand in the top five. The company credited strong same-store sales growth, a near 50 percent jump in online orders on Acehardware.com, and 147 new store openings for the successful results. The company added $643 million in sales in 2018, a 4 percent increase from the previous year.
Ace Hardware is structured as a retailer-owned cooperative where independent owners operate the majority of locations, even though it is sometimes considered a franchise system, Ace “franchisees” or retailers not only own their individual stores, but also serve as shareholders in the organization. Unlike a traditional franchise operation, Ace Hardware store owners pay no ongoing franchise or royalty fees.
The Franchise Times Top 200 is an annual ranking of the 200 largest franchise systems in the U.S. by global system-wide sales, based on the previous year’s performance.
For information about investment opportunities with Ace Hardware, visit www.myace.com.
Ace Hardware is the largest retailer-owned hardware cooperative in the world with more than 5,200 locally owned and operated hardware stores in approximately 70 countries. Headquartered in Oak Brook, Ill., Ace and its subsidiaries operate an expansive network of distribution centers in the U.S. and have distribution capabilities in Ningbo, China; Colon, Panama; and Dubai, United Arab Emirates. Since 1924, Ace has become a part of local communities around the world and known as the place with the helpful hardware folks. For more information, visit acehardware.com or newsroom.acehardware.com.