#21
At a Glance
Products & Services: Furniture, electronics, computer & appliance leasing & sales
Number of Locations: 1,924
Total Investment: $233.87K - 607.58K
Founded: 1955
Began Franchising: 1992
Public Owned AAN
About Aaron's Sales & Lease Ownership
Aaron's Rents offers furnishings such as big screen televisions, couches and refrigerators for rental or purchase at its stores across the United States. R. Charles Loudermilk Sr. began the business in 1955, renting folding chairs he had purchased from an army surplus store for 10 cents a day. Today the company rents items for a few days or weeks, or sells items on 12- to 18-month terms.Aaron's Rents began franchising in 1992. The company is publicly traded on NASDAQ.
Franchise Units
| Year | U.S. | Canadian | International | Company Owned |
| 2011 | 663 | 45 | 0 | 1,216 |
| 2010 | 579 | 31 | 0 | 1,114 |
| 2009 | 520 | 20 | 0 | 1,105 |
| 2008 | 499 | 11 | 0 | 1,023 |
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S. and Canada.
Startup Costs, Ongoing Fees and Financing
Total Investment: $233,870 - $607,580
Franchise Fee: $15,000 - $50,000
Ongoing Royalty Fee: 6%
Term of Franchise Agreement: 10 years, renewable
Franchise Fee: $15,000 - $50,000
Ongoing Royalty Fee: 6%
Term of Franchise Agreement: 10 years, renewable
Financial Requirements
Net Worth: $450,000
Liquid Cash Available: $350,000
Operations
90% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 6 - 6. Absentee ownership of franchise is allowed. (30% of current franchisees are owner/operators).| Financing Type | In-House | Third Party |
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How This Franchise Supports Franchisees
Training: Available at headquarters: 3 days. At franchisee's location: less than 30 days. At regional locations : 1 week.
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives,
Marketing Support: Co-op advertising, Ad slicks, National media, Regional advertising,
Other marketing support: NASCAR sponsor