In this episode, Bill Corcoran Jr. sits down with Gina Schaefer, Founder and CEO of a thriving Ace Hardware store empire serving communities across Washington D.C., Maryland, and Virginia’s suburbs. From the ground up, Gina built her business to over $50 million in revenue with 13 locations supported by a dedicated team of more than 270 employees.
Since opening her first store in 2003, Gina’s commitment to her community and innovative approach to business have turned her hardware empire into something far beyond a typical retail operation. As a woman in a male-dominated industry, Gina reflects on breaking barriers and proving that a hardware store can be a powerful engine for community transformation.
They explore her unique hiring philosophy, “smash the box hiring,” which brings in people from unconventional backgrounds —including convicted felons, those who have faced homelessness, and individuals overcoming addiction — and how they’ve become invaluable teachers and team members.
Lastly, we discuss her inspiring business succession plan, transitioning her company into an employee-owned model through an ESOP (Employee Stock Ownership Plan). Today, 130 of her teammates hold ownership in the business.
Gina is an entrepreneur, author, and dynamic keynote speaker. Her memoir, Recovery Hardware: A Nuts and Bolts Story About Building a Business, Restoring a Community, and Renovating Lives, shares the power of second chances and highlights her commitment to inclusion and community impact.
How a Woman’s $50M Hardware Empire Built More Than Just Stores | Ep.226: Gina Schaefer
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