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2024 was a memorable 12 months for Ace Hardware: it celebrated the company’s one hundredth anniversary. Every milestone birthday is an opportunity to regroup, and CEO John Venhuizen briefed the retail cooperative on how it may well higher serve its “neighbors,” as the company calls its customers. Some solutions could also be invisible to those outside the company, but one fundamental change will change the way “neighbors” shop across the country.
Ace continued to expand its marketing to draw more customers to the brand. It has also increased and improved worker training – so once customers are in the store, team members can provide them with all the help they need to attain their home improvement goals. Ace also worked with FranklinCovey consultants to create a higher leadership development program. These updates prepare the company for what Venhuizen says are “three battles we must fight to win the retail war. Namely: service, comfort and quality.”
However, the most visible change to rejoice Ace’s centennial was the new store concept. It’s called Elevate3 Ace and launched in August 2024. Its goal is to offer customers with a more digestible experience, with stores focused on 4 categories (paint, energy, yard & grill, and home maintenance) and also including “branded stores” dedicated
to the most famous manufacturers (including Weber, Stihl and DeWalt). Over the next five years, the company plans to speculate $1 billion in new and remodeled stores, adding 170 to 200 new stores and remodeling 280 to 300 existing stores each 12 months.
Better serving the store community means doing more for franchisees, too. For example, the company offers free supplies to produce newly opened stores. “We put our money where our mouth is,” Venhuizen says.
There are signs that every one this modification is paying off: sales of digital solutions grew by double digits last 12 months; 87% of Ace customers rated their store 5 out of 5 stars; and Elevate3 Ace pilot programs have demonstrated significant improvements in customer satisfaction. The company is in the top ten of the Franchise 500 rating for the third 12 months in a row and took first place in its category for the tenth time in a row.
“It turns out that good service to others never goes out of style or results in lost opportunities,” says Venhuizen. “We feel blessed to be able to serve others.”