The estimated total pay range for a Owner at Ace Hardware is $82K–$153K per year, which includes base salary and additional pay. The average Owner base salary at Ace Hardware is $109K per year. The average additional pay is $0 per year, which could include cash bonus, stock, commission, profit sharing or tips.
How much does a Business Owner make at Ace Hardware in the United States? The estimated average pay for Business Owner at this company in the United States is $25.14 per hour, which is 44% above the national average.
Starting a hardware store can be lucrative, but your future profitability depends on a few key factors. Hardware stores can be highly profitable if they're strategically planned and effectively managed. However, like any retail business, success isn't guaranteed.
What is the failure rate for an Ace Hardware franchise? Very low. According to Ace Hardware, new ground-up stores have a nearly 99% success rate, and the average store yields sales of $138 per square foot in their first year.
Average Earnings: Franchise owners in the fast-food sector often see average annual earnings ranging from $70,000 to $150,000. However, earnings can vary widely based on several factors. Location: High-traffic locations in urban or densely populated areas can boost revenue.
McDonald's, Subway, and KFC consistently rank among the world's top franchises due to their global reach, brand recognition, and proven business models. These franchises dominate in customer base and market presence, offering franchisees high earning potential and extensive support systems.
How much can a Ace Hardware franchise owner expect to earn? The average gross sales for a Ace Hardware franchise are approximately $3.38 million per location. Assuming a 15% operating profit margin, $3.38 million yearly revenue can result in $507,000 EBITDA annually.
In addition, unlike a traditional franchise operation, Ace Hardware store owners pay no royalty fees or ongoing franchise fees. For information about investment opportunities with Ace Hardware, visit www.myace.com.
Customer Loyalty: ACE Hardware has a loyal customer base of DIY enthusiasts, contractors, and commercial customers who trust the brand for their home improvement needs. As a franchise owner, you can benefit from this customer loyalty and repeat business, which can help drive sales and build a sustainable customer base.
eCommerce store
Another profitable small business you can start in 2022 is to start an eCommerce store. Today, buying goods and services online has become a habit for many people around the world. By 2020, the total number of digital shoppers in the United States was 256 million.
Ace Hardware is owned by its member retailers. As a cooperative, it operates under a unique structure where independent store owners are also shareholders.
No royalty fees and a portion of the company profits are distributed back to the retail owners each year. Independent ownership with dedicated training & support. Flexible product mix that can be customized to your local market. Recommended core Ace product mix based on 16 years of Point-of-Sale data.
Multi-Unit Franchise Ownership: A Path to Higher Earnings
Franchise Business Review's 2023 report highlights that the average franchise owner with 2-4 units earns an average of $132,400 annually, while those with 5 or more units see their income jump to an impressive $204,800.
In 2023, Ace Hardware's revenue amounted to roughly 9.1 billion U.S. dollars, down from 9.2 billion registered a year earlier.
Purchasing a Ace Hardware Franchise
The cost of purchasing the Ace Hardware franchise requires that the candidate should have liquid capital of $250,000 and a net worth of $400,000. The total investment cost lies between $650,000 to $1,000,000, which covers the cost of training.
This partnership enabled even the smaller stores to compete effectively at retail despite larger stores in their market. And to this very day, Ace Hardware Corporation is still owned solely and exclusively by the local Ace retail entrepreneurs. For the latest in company news, visit the Ace Newsroom via the link below.
Royalties are typically a percentage of your gross sales; you pay them regularly, usually monthly. The U.S. Small Business Association (SBA) notes that royalty payments normally range from 4% to 12% of the franchisee's gross revenue. Some brands will set a minimum dollar amount that the franchisee must pay.
The estimated total pay range for a Owner at Ace Hardware is $82K–$153K per year, which includes base salary and additional pay. The average Owner base salary at Ace Hardware is $109K per year. The average additional pay is $0 per year, which could include cash bonus, stock, commission, profit sharing or tips.
The retail gross margin percentage was 46.6 percent of retail revenues in the third quarter of 2024, up from 46.1 percent in the third quarter of 2023.
Ace Hardware is a cooperative of independent hardware stores. It is owned by its member stores, which are independently operated. Lowe's is a separate retail company specializing in home improvement and operates its own chain of stores.
As of Jan 23, 2025, the average annual pay for a Franchise Owner in California is $126,297 a year. Just in case you need a simple salary calculator, that works out to be approximately $60.72 an hour. This is the equivalent of $2,428/week or $10,524/month.