Buddy’s was founded in 1961 in Tampa, Florida with a single goal in mind: to make appliances in a retail setting more affordable. Since then, Buddy’s has adopted the franchising model and grown its footprint to approximately 330 stores throughout the U.S. and Guam. The brand also expanded its product line to include furniture, electronics and home accessories while offering a new program that allows consumers to attain ownership of these goods through affordable payments without the constraints of traditional credit or financing. Throughout its growth, the company has built its business one satisfied customer at a time. Buddy’s is in the people business because it believes there’s something to be said for relationships with customers that aren’t built on transactions, but rather, trust.
Buddy’s Home Furnishings is the fastest growing rent-to-own franchise in America and sits prominently in the $11.4 billion rent-to-own industry. The rent-to-own retailer offers customers affordable payments on home necessities such as name-brand furniture, electronics, appliances and home accessories. The company has a 60-year history of proven success in its industry and continues to withstand good and bad economies as an essential, recession-resistant business. Franchise owners receive a 0% royalty fee the first six months and see an average of 25% in free cash flow, which is attributed to a unique recurring revenue model in rent-to-own. Buddy’s is growing past its current nationwide footprint of 330 locations, and 88% of the company’s franchisees are multi-unit owners.
Buddy’s offers 100 hours of training which includes two weeks in the corporate office and stores, followed by a training with the franchise owner’s staff at their store prior to opening. There is also extensive, ongoing training and support available from Buddy’s operations team via the dedicated Franchise Consultants, a detailed Operations Manual, and an E-Learning portal.
To invest in a Buddy’s Home Furnishings franchise, candidates must have a minimum net worth of $500,000 and a minimum liquidity of $150,000. A background in franchising and multi-unit experience is desirable.
Franchisor Details
Total Investment: |
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Cash Investment: |
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Business Type: |
Franchise |
In Business Since: |
1961 |
Training & Support: |
Yes |
Franchised Units: |
338 |
Franchise Fee: |
$39,900 |
Categories: Retail
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