Ace Hardware International, a subsidiary of Ace Hardware Corp., will launch operations in Mexico.
The new franchise program provides a variety of flexible store formats ranging from 300 square meters to 3,000 square meters, Ace maintained, and will include Mexican and global brands in its available product assortment. Ace will focus franchise development in Mexico City with a projected first store opening in mid 2021.
Ace has enlisted Feher Consulting to serve as its exclusive franchise representative. Qualified investors can obtain multi-unit development agreements and area development agreements with an initial term of 10 years. Experience with retail or franchising and a $2 million minimum liquid investment are requirements, the company noted. Ace International is opening an office in the city of Monterrey and establishing a large network of local companies and vendors to support franchisees in Mexico.
“The expansion of the franchise model in Mexico gives us a platform to further deliver on Ace Hardware’s legacy of providing local investment and ownership opportunities to entrepreneurs,” said Alejandro Lorenzo, Ace International vp/international business development. “We want to continue to develop a network of successful, locally owned and operated Ace Hardware stores that focus on serving Mexican families with locally sourced products.”