Let’s be honest with each other. Regardless of which industry or sector you are in, starting a business is one of the hardest things you will ever do. You have to get the start-up capital. You must look for investors, identify a niche market, and, most importantly, compete with already established household names. But what if it were possible to get a foothold in the market?
That is exactly what Ace Hardware offers. The hardware retailers offer an owned cooperative whereby a new business can be part of it. To enter, one doesn’t pay any royalty. However, a portion of the profits that you make on an annual basis will be distributed to the company. If you are already interested, let us guide you on how to enter such an industry.
But before immersing in a bunch of useful tips and tricks, spare a few minutes and fill in the survey at www.talktoace.com.
Is an Ace Hardware business for you?
Consider if you want to open your hardware store or start a franchise with Ace Hardware. It goes without saying that using Ace Hardware gives you the advantage of already using an established name in the industry. You also get access to their dedicated support, training, and tested and approved methods which will come in handy in the long term.
The name
What is in a name you may ask? The name of your hardware will determine the success of your business. It must be a catchy one; one that simply rolls of the tongue. It must also allow you to stand out from the competition. Otherwise, why use it? To help you ideally name your ace hardware franchise business, here are a few tips:
- Choose a number that is easy to remember and pronounce to customers. Otherwise, they might not remember it in the future.
- Perform a name search. This will allow you to know if there are other companies using the same name in the business.
- In addition, don’t choose a name that may limit your growth opportunities. In case you decide to expand your services and products in the future, you should be able to use the same name.
- Once you have identified the ideal name, book it and also register the domain name.
Create a slogan
Even though you are associated with Ace Hardware, you must still market and advertise your company. And to do so, you must have a slogan. Like the name, it must be catchy and be able to communicate the advantages of your services or products in one line. For your slogan, consider your target audience, keep it short and simple.
A business plan
This is a critical bit of your plan to start your own business. It will act as a roadmap, detailing the structure of your company, the vision and mission, goals, and the future of it all. It will also express how you will be able to raise finances and who the stakeholders will be.
Setting up
Setting up is not only about the physical space. You must also consider the financial and legal ramifications of it all. Do you want to be a C-Corp, S-Corp, or LLC? All of these options are subjected to different tax regimes and benefits.
With a set-up website and social media accounts, launch your Ace Hardware franchise business and watch how it grows.