Ace Ranks Higher in the Top 5 Versus Last Year
Ace Hardware, the largest retailer-owned hardware cooperative in the world, moved up from the #5 to the #4 position in the annual Franchise Times Top 400 List*. The Franchise Times’ Top 400 List is an annual ranking of the 400 largest franchise systems in the United States by global systemwide sales, based on the previous year’s performance.
Ace Hardware has consistently ranked in the top 10 on the prestigious list, garnering its highest position on the list at #4 this year. Ace Hardware is ranked among other globally renowned companies including McDonalds, 7-Eleven, and KFC. Ace overtook Burger King to claim the #4 position, growing sales by more than 21 percent, equating to a $3.5 billion increase. Ace’s growth marks the best dollar amount sales increase across all franchises last year.
As an essential business, Ace fast tracked a digital strategy that helped catapult the company into the #4 position. “We moved at a breakneck pace to enable three main phases of our digital strategy. Phase 1: Fast Fixes (order tracking and cancellation, and Ace Rewards integration), Phase 2: Game Changers (order pickup process and mobile consumer app) and Phase 3: Transformation (mobile help and last mile white glove service). Our marketing, digital and IT teams worked tirelessly to bring to market over 660 enhancements to our platform when our stores and customers needed it—and continue to need it most,” said John Surane, Executive Vice President, Chief Merchandising and Sales Officer at Ace Hardware Corporation.
In addition, Ace is on track to open more than 170 new stores this year alone and has opened more than 900 stores in the past five years, helping to top global sales of more than $20 billion.
“Ace is honored to be recognized by Franchise Times as one of the top franchises in 2021, and we are thrilled to jump into the 4th position on this impressive list,” said John Kittell, Vice President, Retail Operations and New Business at Ace Hardware Corporation. “The incredible growth we have seen not only this year, but in the past five years, is a testament to the commitment and leadership of our independent store owners who work hard to provide amazing customer service every single day to serve their neighbors and support their local communities.”
Ace Hardware is a retailer-owned cooperative where independent owners operate the majority of locations. Although Ace 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.
For information about investment opportunities with Ace Hardware, visit www.myace.com.
*Source: www.franchisetimes.com
