Ace Hardware Corp., the largest retailer-owned hardware cooperative in the world, announced it was once again ranked in the top five of the 2020 Franchise Times Top 200 List. The respected annual list ranks the largest U.S. franchises by global sales.
“Ace is proud to be recognized by Franchise Times as a top franchise in 2020 and elated to have once again ranked number five,” said John Tovar, vice president operations and new business for Ace. “Despite a challenging and unprecedented year, Ace is an essential business that continues to see incredible growth as a result of our independent store owners who have persevered and remained steadfast in their support of the local communities they serve.”
Ace Hardware has consistently ranked in the top 10 of the prestigious list, with four consecutive years at the number 6 spot, followed by last year’s jump into the top five. Ace Hardware is ranked among other globally renowned companies including McDonalds, 7-Eleven, KFC and Burger King. The latest report noted that companies listed in the top 10 brands collectively added $16.2 billion in sales, growing 5.2 percent from the previous year. The top 10 also combined to add more than 10,000 new locations in 2019.
Ace Hardware is 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.
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