Want to open a Buddy's Home Furnishings?
Units as of 2020
291 (3 added in 3 years)
1.0%
2021 Franchise 500 Rank
N/R Not ranked last year
Initial investment
$385K - $912K

Company Overview

About Buddy's Home Furnishings

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

More from Buddy's Home Furnishings

Business is booming at Buddy’s!

THE BUDDY’S STORY

In 1961, Buddy’s founder Norman Slatton decided to use his experience in sales at Sears, Roebuck and Co. to pioneer the lease-to-own business with a single aim: to make appliances in a retail setting more affordable.

Norman’s vision came to life that year with Buddy’s Bi-Rite in Tampa, FL, which grew into a chain of 43 furniture and appliance stores throughout Georgia and Florida in just 25 years. Since then, Buddy’s has adopted the franchising model and grown its footprint to approximately 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.

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:
  • Exclusive territories available: You control the marketplace.
  • Multi-unit development opportunities: The opportunity to secure a multi-unit development territory for your Buddy’s Home Furnishings stores will allow you to benefit from economies of scale.
  • Recession resistant: Based on industry research, since 2008 the industry is growing annually 2-3 times faster than it had leading up to the most recent downturn in the U.S. economy.
  • In business for over 60 years: Although we may be a new name to franchising we are veterans of the industry. Buddy’s Home Furnishings has been in business since 1961. Although the times have changed, our core business principles and philosophies remain the same.
  • Cash flow business with tremendous ROI potential: Because we are in the leasing business, the benefits of depreciation are very attractive, and the typical store payback period is three years!

Franchising Overview

Franchising Since
2009 (12 years)
# of employees at HQ
65
Where seeking

This company is seeking new franchisees throughout the US.

# of Units
291 (as of 2020)

Franchisor Information

Social
Facebook
Corporate Address
4705 S. Apopka Vineland Rd., #206
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
$25,000
Initial Investment
$384,566 - $911,874
Net Worth Requirement
$750,000
Cash Requirement
$150,000
Veteran Incentives
20% off franchise fee
Royalty Fee
6%
Ad Royalty Fee
to 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: startup costs, equipment, inventory

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
Up to 60 hours
Classroom Training
Up to 42 hours
Ongoing Support
Purchasing Co-ops
Newsletter
Meetings & Conventions
Grand Opening
Online Support
Security & Safety Procedures
Lease Negotiation
Field Operations
Site Selection
Franchisee Intranet Platform
Marketing Support
Co-op Advertising
Ad Templates
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.

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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
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