Ace Hardware

Definition

Ace Hardware is a cooperative of independently owned and operated hardware stores that function under a single brand and shared purchasing agreements. It represents a specialized form of business organization where each store owner contributes to and benefits from the collective resources and branding of the cooperative.

Related terms

Cooperative:

A business organization owned and operated by a group of individuals for their mutual benefit.

Franchise:

A type of license that grants a franchisee access to a franchisor's proprietary knowledge, processes, and trademarks, allowing them to sell a product or service under the franchisor's business name.

Branding: The marketing practice of creating a name, symbol, or design that identifies and differentiates one product from other products