5-26-2022 12:21pm

Westlake Ace Hardware Corp. Adds 13th Store to California

Lorraine Mabbett Editor

A new hardware store will open up, in the Porter Ranch shopping center. The 29,000 square foot space was formerly occupied by ToysRus. The Westlake Ace Hardware corporation announced the store will open in 2023.

The Westlake Ace Hardware joined the Ace Hardware Cooperative in 1959 and became a wholly owned Ace subsidiary in 2012. WAH has 151 stores in 12 states.

Twelve stores are in California: Chico, Fresno, La Crescenta, Livermore, Mountain View, Pinole, South Pasadena, Thousand Oaks, Turlock, Van Nuys, West LA, Woodland and now Porter Ranch.

Franklin Hardware in Woodland Hills is an Ace Hardware store but not owned by Westlake Ace Hardware.

Chicago’s Richard Hesse, E. Gunnard Lindquist, Frank Burke and Oscar Fisher founded the Ace Hardware organization in 1924. Ace Hardware is a retail co-operative organization. According to their website:

In 1976, Ace hardware stores were officially on the market for entrepreneurs looking to invest in a promising association. There are currently more than 5,000 independently owned Ace Hardware stores operating across the globe (though most are in the United States), making Ace the largest retailer-owned appliance cooperative in the world. Today the Ace Hardware family of stores generates nearly $16 billion in sales (versus approximately $100 billion in revenue for Home Depot).

There are three paths to become an Ace Hardware Store.

Buy a franchise opportunity. It costs "a total of $272,500 to $1,574,230 to open an Ace Hardware franchise, assuming this is a new location. There is no royalty fee with an Ace Hardware franchise; instead, store owners are distributed a percentage of overall profits."

Convert an existing store. Ace asserts "converted stores typically experience an 11% lift in retail sales, 12% increase in gross margins, and a 24% boost in gross profits post conversion. Ace offers special incentives for conversions, depending on the size, setup, and product mix of the store in question."

And the most interesting option is to add an Ace Hardware as an extension to an existing independent grocery business! "There are over 200 Ace Hardware + Grocery combinations across the United States. This option requires no franchise fees and no royalties. In addition, Ace will supply free initial inventory."

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