Your Local Ace Hardware May Look Totally Different Soon — Here's What You Can Expect The home improvement retail franchise is celebrating its 100th birthday with some big changes.
This story appears in the January 2025 issue of Entrepreneur. Subscribe »
The year 2024 was a memorable one for Ace Hardware: It marked the company's 100th year in business. Any milestone birthday is an opportunity to regroup, and CEO John Venhuizen guided the retailer co-op to zero in on ways it could better serve its "neighbors," as the company calls its customers. Some measures might be invisible to anyone outside the company, but one major change will reshape the way "neighbors" shop across the country.
Ace continued to expand its marketing to bring more customers to the brand. It also increased and improved its associate training — so that once those customers are in the store, the team members can provide them with all the help they need to accomplish their home-improvement goals. Ace also worked with FranklinCovey consultants to create a better leadership development program. These updates prepare the company for what Venhuizen sees as the "three battles we must wage to win the retail war. Namely: service, convenience, and quality."
Related: Ace Hardware's Major Investment in This Underused Marketing Strategy Reaped Huge Returns
The most visible change for Ace's centennial, though, was its new store concept. It's called Elevate3 Ace, and it launched in August 2024. Its goal is to create a more digestible experience for customers, with shops emphasizing four categories (paint, power, backyards and barbecue, and home preservation) and also featuring "brand shops" dedicated
to the most familiar manufacturers (including Weber, Stihl, and DeWalt). The company plans to invest $1 billion in new and remodeled stores over the next five years, adding 170 to 200 new stores and remodeling 280 to 300 existing stores each year.
Better serving the stores' communities means doing more for franchisees too. For example, the company offers free inventory to stock newly opening stores. "We put our money where our mouth is," Venhuizen says.
By many indications, all this change is making an impact: Digital sales grew by double digits in the past year; 87% of Ace customers rated their store with 5 out of 5 stars; and the Elevate3 Ace pilots have shown a significant improvement in customer satisfaction. The company is in the Franchise 500's Top 10 for the third year in a row, and clinched its 10th consecutive year as No. 1 in its category.
"Turns out, serving your neighbors well never goes out of style, nor does it become void of opportunity," Venhuizen says. "We feel blessed to be in the business of serving others."
