Aaron's Sales & Lease Ownership
Furniture, electronics, computer & appliance leasing & salesBackground
Founded: 1955 Franchising since: 1992
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.
Franchisor is a publicly-held company with 0 employee(s); 35 employee(s) in franchise department.
Franchise Growth
Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North carolina, North dakota, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming
Outside the U.S.: Canada
Exclusive territories available.
Territory size: 8,500 households with income less than $50K within 3 miles
Special Programs
Under the companys ACORP program, Aarons locations donate funds to local and national charities and organizations. Aarons also supports Habitat for Humanity and the Make-A-Wish Foundation.
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.
|
309 E. Paces Ferry Rd. Atlanta, Georgia 30305-2377 |
Phone: (678)402-3778
Franchisee Association
Aarons Franchise Association |
Franchisor is a publicly-held company with 0 employee(s); 35 employee(s) in franchise department.
Franchise Growth
| Year | U.S. Franchises | Canadian Franchises | Foreign Franchises | Company Owned |
| 2009 | 520 | 20 | 0 | 1105 |
| 2008 | 499 | 11 | 0 | 1,023 |
| 2007 | 441 | 7 | 0 | 828 |
| 2006 | 403 | 6 | 0 | 763 |
| 2005 | 371 | 5 | 0 | 748 |
Where Seeking Franchisees
In the U.S. Alaska, Alabama, Arkansas, Arizona, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Iowa, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, Nebraska, North carolina, North dakota, New hampshire, New jersey, New mexico, Nevada, New york, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode island, South carolina, South dakota, Tennessee, Texas, Utah, Virginia, Vermont, Washington, Wisconsin, West virginia, Wyoming
Outside the U.S.: Canada
Exclusive territories available.
Territory size: 8,500 households with income less than $50K within 3 miles
Special Programs
Under the companys ACORP program, Aarons locations donate funds to local and national charities and organizations. Aarons also supports Habitat for Humanity and the Make-A-Wish Foundation.
Costs and Fees
|
Total investment: $233.7K-602.98K Franchise fee: $15K-50K |
Ongoing royalty fee: 6% Term of agreement: 10 years, renewable |
Type of Financing Available
| In-House | Third Party | |
| Franchise Fee | No | No |
| Startup Costs | No | No |
| Equipment | No | No |
| Inventory | No | No |
| Accounts Receivable | No | No |
| Payroll | No | No |
Third-party financing source(s): SunTrust Bank
Qualifications
Net worth requirement: $450K
Cash liquidity requirement: $300K
Business Experience:
- General business experience
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)
Training and Support
Training
Ongoing Support
Marketing Support
Other marketing support
- 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
Rankings
Franchise 500® rank:
#52 (2009); #58 (2008); #49 (2007); #55 (2006); #52 (2005);
Ranked #1 in category in:
2006; 2005;
Fastest-Growing Franchises:
#49 (2009); #60 (2006); #64 (2005);
America's Top Global Franchises:
#46 (2009); #57 (2008); #50 (2007); #51 (2006); #47 (2005);
#52 (2009); #58 (2008); #49 (2007); #55 (2006); #52 (2005);
Ranked #1 in category in:
2006; 2005;
Fastest-Growing Franchises:
#49 (2009); #60 (2006); #64 (2005);
America's Top Global Franchises:
#46 (2009); #57 (2008); #50 (2007); #51 (2006); #47 (2005);