Buddy’s Home Furnishings is a mainstay in the rent-to-own industry specializing in the sales and rental ownership of furniture, electronics, appliances and home accessories.
This year, the company celebrates 60 years in business and is approaching another milestone–nearly 300 operating stores, 251 of which are franchised locations.
“I’m proud to be a part of one chapter in Buddy’s storied history,” said Michael Bennett, CEO. “Buddy’s has prevailed through every economic environment over the decades, and at the heart of its success are the people.”
Buddy’s was founded in 1961 in Tampa, Fla. with a mission to help customers attain ownership of home necessities through affordable payments without the constraints of traditional credit or financing. The company adopted its franchise model in 2009 with a vision of serving more communities by expanding into new and existing markets nationwide.
Mitchell Lee recently joined Buddy’s as Director of Franchise Development and is tasked with growing the company’s franchise footprint that currently comprises 84.8% of all locations.
“We’re looking for franchisees who want to leverage our turnkey system to build a community-focused business with tremendous earning potential,” said Lee.
“More importantly, we’re seeking candidates who want to become a part of something much bigger than the business itself. We’re looking for franchisees that understand that if you take care of your people and your customers first, the success will follow.”
On average, Buddy’s top 25% of stores generate $1,370,839 in gross sales and $386,314 in cash flow per store.* Exclusive and multi-unit development areas are available and in high demand, excluding California, Hawaii, Minnesota and Wisconsin. The process to become a franchisee with Buddy’s takes an estimated six-to-eight weeks, and the company requires a minimum net worth of $750,000 and a minimum liquidity of $150,000.
“My life was changed over 20 years ago when Buddy’s gave me a chance to drive a truck,” said Chip Guy, a franchise operator with Buddy’s.
“I’ve since franchised several locations, and now I’m the Vice President of Operations overseeing 60 stores. I made something of myself because of Buddy’s. A lot of people can talk to you about P&L statements and making money, and that’s all a byproduct of what we do, but I truly believe 100 percent in my heart that we change lives at Buddy’s Home Furnishings, and that’s what sets this franchise opportunity apart from others.”
* This information reflects the Average Gross Sales and Average Cash Flow for the Top 25% of the Buddy’s company-owned retail businesses which were open for at least five full years as of fiscal year end 2020. Of these 8 retail businesses, 1 attained or surpassed the Average Gross Sales and 3 attained or surpassed the Average Cash Flow as described above. We refer you to Item 19 of our 2021 Franchise Disclosure Document for additional information. A NEW FRANCHISEE’S RESULTS MAY DIFFER FROM THE REPRESENTED PERFORMANCE. This is not intended as an offer to sell, or the solicitation of an offer to buy, a franchise. Offerings made by prospectus only and in compliance with the applicable pre-sale registration and disclosure requirements in your state. ©2021 Buddy’s Home Furnishings®. All rights reserved.
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