March 03, 2023 // FranchiseMarketingSolutions.com // ORLANDO, Fla. – Buddy’s Home Furnishings, a retailer specializing in the sales and rental ownership of furniture, electronics, appliances and home accessories, ended 2022 with 39 new franchise agreements awarded and 28 new franchised locations opened. The rent-to-own retailer closed out the year with a total of 338 locations operating nationwide.
As part of that growth, Buddy’s multi-operating groups bebe stores, inc., MTM Ventures and Kappa Investments, LLC, signed a combined total of 10 new franchise agreements and opened 8 stores last year.
Franchise owners Robert Smith and Ernie Thompson of WRE, LLC signed an agreement to convert six of their Hometown Sales & Leasing locations to Buddy’s storefronts. Although new to Buddy’s, WRE has operated in Virginia since 2002.
“In the past, balancing backend and operational issues along with merchandising has been a challenge,” said Thompson. “Thanks to the support of the team behind Buddy’s, we’ll now be freed up to focus more on our valued customers and supplying the community with everyday necessities.”
TryBudCo, LLC opened its second Buddy’s franchise in Warner Robins, Georgia. The new store marks two of eight locations expected to open across the state in the next few years.
Ray Muncy, operating partner at TryBudCo said, “Franchising with Buddy’s is better because the company is constantly evolving to do better by its franchise owners. As a growing operating group, we feel valued and heard by our support system at Buddy’s which ultimately makes us confident in our investment – and we see eight locations as only the beginning.”
Patrick Ruland was a previous supplier for Buddy’s and joined the company as a franchise owner by signing for two units in Alabama.
“I left my W-2 job and joined Buddy’s for the financial freedom it affords me and my family,” said Ruland. “Heavily investing my time and energy into growing my Buddy’s footprint over the remainder of my career will set me up well for retirement. Through my relationship with Buddy’s on the supplier side of the business, I was able to establish relationships with their team and trust that they will help me achieve my goals with the company.”
The rent-to-own retailer also earned recognition in leading industry publications for the second year in a row. Buddy’s was ranked No. 242 and named a Fastest-Growing Franchise in Entrepreneur’s Franchise 500® and landed the No. 220 spot on Franchise Times’ list of Top 500 franchises.
“We’re proud to witness and support the growth of our franchise owners,” said Michael Bennett, CEO of Buddy’s Home Furnishings. “A majority of our franchisees are multi-unit owners, which is a testament to the strength and profitability of our program – they come back for more! It’s an honor to continue our partnership with our franchise owners and to welcome new operating groups into the Buddy’s family.”
Since adopting the franchising model in early 2009, Buddy’s has established a strong history of multi-unit success, which is why 88% of Buddy’s franchisees own multiple units.
About Buddy’s Home Furnishings
Buddy’s Home Furnishings, a subsidiary of Franchise Group Inc. (NASDAQ: FRG), is a retailer specializing in the sales and rental ownership of furniture, electronics, and appliances. Buddy’s has more than 335 stores in the United States and Guam.
SOURCE Buddy’s Home Furnishings