2022 Franchise 500 Rank
#226 Not ranked last year
See the Full List
Initial investment
$350K - $840K
Units as of 2022
326 11.6% over 3 years

Company Overview

About Buddy's Home Furnishings

Industry
Retail
Founded
1961
Parent Company
Buddy's Newco
Leadership
Michael Bennett, CEO
Sponsored Content

More from Buddy's Home Furnishings

Business is booming at Buddy’s!

Buddy's Home Furnishings - Storefront

THE BUDDY’S STORY

 

In 1961, Buddy’s Bi-Rite was founded in Tampa, FL and proceeded to grow into a chain of 43 furniture and appliance stores throughout Georgia and Florida in just 25 years. 

Since then, the company adopted the name Buddy’s Home Furnishings and the franchising model as it grew its footprint to nearly 300 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, Buddy’s Home Furnishings 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.

Family spending time around the kitchen and dinner table

WHY FRANCHISE WITH BUDDY’S?

Simply put, Buddy’s is better! With families doing more at home with tighter budgets, Buddy’s business model is as essential as ever. Here are some additional reasons to consider franchising with Buddy’s:

  • 60 Years of Proven Success: We’re the third largest rent-to-own brand in the industry with a 60-year, recession-resistant business model. With families doing more at home on tighter budgets, our business model is as essential as ever.
  • Great Unit Economics: On average, our top 25% of stores generate $1,501,500 in gross sales and $369,627 in cash flow per store.*
  • Low Initial Investment: You can expect your initial investment for a Buddy’s franchise to be between $349,570-$839,690 which is relatively low for retail development.
  • Lots of White Space: We have several single and multi-unit territories available and in high demand nationwide.**
Employee and client

The Financial Requirements

 

To invest in a Buddy’s Home Furnishings franchise, candidates must have a minimum net worth of $750,000 and a minimum liquidity of $150,000. A background in franchising and multi-unit experience is desirable. 

Be sure to ask about Buddy’s partnership with VetFran that offers veterans 20% off of their franchise fee.

 

* 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.

** Excluding California, Hawaii, Minnesota and Wisconsin.

Franchising Overview

Franchising Since
2009 (13 years)
# of employees at HQ
65
Where seeking

This company is seeking new franchisees throughout the US.

# of Units
326 (as of 2022)

Franchisor Information

Social
Facebook, LinkedIn
Corporate Address
8529 Southpark Cir., #150
Orlando, FL 32819

Information for Franchisees

Here’s what you need to know if you’re interested in opening a Buddy's Home Furnishings franchise.

Financial Requirements & Ongoing Fees

Here’s what you can expect to spend to start the business and what ongoing fees the franchisor charges throughout the life of the business.

Initial Franchise Fee
$40,000
Initial Investment
$349,570 - $839,690
Net Worth Requirement
$500,000
Cash Requirement
$150,000
Veteran Incentives
20% off franchise fee
Royalty Fee
6%
Ad Royalty Fee
2%
Term of Agreement
10 years
Is franchise term renewable?
Yes

Financing Options

Some franchisors offer in-house financing, while others have relationships with third-party financing sources to which they refer qualified franchisees.

Third Party Financing
Buddy's Home Furnishings has relationships with third-party sources which offer financing to cover the following: franchise fee, startup costs, equipment, inventory, accounts receivable, payroll

Training & Support Offered

Franchisors offer initial training programs and a variety of ongoing support options to help franchisees run their businesses.

On-The-Job Training
60 hours
Classroom Training
42 hours
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Toll-Free Line
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Proprietary Software
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
National Media
Regional Advertising
Social Media
SEO
Website Development
Email Marketing
Loyalty Program/App

Operations

Additional details about running this franchise.

Is absentee ownership allowed?
No
Can this franchise be run from home/mobile unit?
No
Can this franchise be run part time?
No
Are exclusive territories available?
Yes

Franchise 500 Ranking History

Compare where Buddy's Home Furnishings landed on this year’s Franchise 500 Ranking versus previous years.

Stock History for Buddy's Home Furnishings

Ticker Symbol for Buddy's Home Furnishings: FRG

Additional Rankings

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Disclaimer
The information on this page is not intended as an endorsement or recommendation of any particular franchise by Entrepreneur Media. Our franchise listings and rankings are solely research tools you can use to compare franchise operations. Entrepreneur stresses that you should always conduct your own independent investigation before investing in a franchise. That should include reviewing the franchisor's legal documents, consulting with an attorney and an accountant, and talking to former and current franchisees.
Updated: February 8th, 2021