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True Value
True Value is a brand that helps to fuel the success of independent hardware stores. While large retail chains seem omnipresent, True Value helps provide the little guys with products and practices that customers like and respect. True Value makes over 60,000 hardware related products and around $1.8 billion in revenue annually. Although the company is headquartered in Chicago, Illinois, there are twelve distribution centers that help get True Value products to its members in a prompt, efficient manner. True Value currently has approximately 3,000 “associates” who are members of the True Value system and sell the products at their 5,000 plus stores across 54 countries around the world.
Facts & figures
What does it do?
True Value is an unusual franchise company that facilitates retailer-owned hardware cooperative stores. As a large franchising company with international holdings, True Value offers franchise owners maximum flexibility in choosing the store and the plan that is right for them, from full-service hardware stores to garden centers, rental shops to home centers, and even warehousing and distributing. True Value stores and retail centers carry the power of the tried and true True Value brand, but allow flexibility to customize franchise success to specific markets.
History / Relevant Facts
The True Value story begins with founder John Cotter, who worked in a neighborhood hardware store from age 12, and grew within that ever-growing industry. Having operated his own successful retailer-owned cooperative, called Cotter & Company, since 1948, Cotter then purchased the long-successful True Value trademark in 1963. Today, True Value is one of the world’s largest retailer-owned hardware cooperative companies, representing locations in more than 60 countries totally about $5.5 billion in sales.
Franchise Cost/Investment
As a retailer-owned cooperative, True Value franchise owners enjoy many financial benefits, including lower wholesale costs. Also, as a cooperative system, 100% of profits at the wholesale level are divided and returned to True Value members each year.
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