For the third straight year, Ace Hardware has ranked fifth in the Franchise Times 200 (FT200), an annual list that ranks franchise systems based on total worldwide sales. Ace is the only Top 5 company that is neither a fast-food restaurant nor convenience store.
The 2008 FT200, published in the October issue of Franchise Times, indicates that the 4,630 Ace store locations domestically and abroad generated $12.5 billion in retail sales during 2007. Ace has held the fifth-place position since 2006.
Ace is the sole non-quick service restaurant or convenience store to rank in the top five. McDonald’s, 7-Eleven, KFC and Burger King landed in the other four positions.
“The superior sales and customer service performance of Ace locations throughout the world truly speaks to the strength of Ace’s brand power and our successful business model – even in this difficult economic climate,” said Ray Griffith, president and chief executive officer of Ace Hardware Corp. “Even more importantly, this ranking is a testament to the entrepreneurial drive of each of our retailers and their commitment to offering exceptional, helpful customer service.”
Since 2005, Ace has experienced the largest expansion in its 84-year history. Last year, 140 new stores opened across the country, and 83 stores have opened so far in 2008, with 17 more openings expected by the end of the year. With more than 4,600 neighborhood hardware stores, 50 percent of the U.S. population is within three miles of an Ace store.
Franchise Times is a news and information source for franchise owners, operators and senior executives of multi-unit franchise companies.
Earlier this year, 84-year-old Ace Hardware ranked highest in customer satisfaction among home improvement stores for the second consecutive year, according to J.D. Power and Associates.