Last Updated on July 22, 2012 by DeanR
Aaron’s Sales & Lease Ownership Franchise
Aaron’s Sales & Lease Ownership is a franchise for a business that rents out and leases furnishings for residential and commercial use.
It was founded in 1955 by R. Charles Loudermilk Sr. in Atlanta, Georgia. He first rented out folding chairs for $.10 a day and it just kept on growing bigger. They started being publicly traded in 1982 as NYSE:AAN and franchising in 1992. They now have over 1,800 stores both company owned and franchised in about 48 states and in Canada. They are commonly found in strip centers, near major shopping malls. They are affiliated with top brands like Panasonic, Dell, Frigidaire, Samsung, Sylvania, Sharp, JVC, Maytag, HP, Mitsubishi, Woodhaven, and Philips. They rent, lease, or sell furnishings such as consumer electronics, office furniture, accessories, and home appliances.
How does Aaron’s work for customers?
Instead of using credit, they make it easier, more affordable, and more practical. Aaron’s Sales & Lease Ownership have a low price guarantee on all their items. The customer doesn’t need to use credit which means that no credit check is needed. They have payment terms in 6, 12, 18, or 24 month payments. You can pay either by monthly, semi-monthly or pay within 120 days and it will treated good as cash.
What exactly do they have to rent out?
In furniture’s, they have things for the living room like couches, dining room like dining tables, bedroom like beds for adults and kids, beddings in different sizes, entertainment centers like television stands, and other accessories like rugs. In electronics, they have big screen televisions and other electronics like video cameras, digital cameras, blue ray players, and video game consoles. For the kitchen, they have refrigerators, chest freezers, and gas and electric ranges. They also have washers and dryers. In computers, they have different brands of laptops and desktops for every need.
How do you become a Aaron’s Sales & Lease Ownership franchisee?
You need to have a net worth of $450,000 and a total liquid asset of at least $300,000. Expect to be investing about $233,000 to $608,000. Franchise fee is $15,000 to $50,000 with an on-going royalty fee of 6%. This is for a renewable 10 year term agreement. You will need about 6 employees to run one location. They allow multi-unit ownership and currently, 90% of them own more than one unit. They also allow absentee ownership. 30% of them are currently operating their own locations. A typical store has to have about 7,000 to 9,000 square feet. They offer assistance in getting an inventory financing.
What’s included in the franchise package?
There will be 3 days training at the Aaron’s Sales & Lease Ownership headquarters and training at your location for up to 30 days. There would also be one week training in your region. You will be receiving newsletters, a toll free number, internet, assistance in the grand opening. You will be attending meetings, expecting field evaluations, and given access to purchasing cooperatives. For marketing, there will be co-op advertising, ad slicks, regional advertising and national media. They’re also a NASCAR sponsor as part of their marketing efforts.
Contact Details
You May Reach Them At:
Address: 309 E. Paces Ferry Rd. Atlanta, Georgia 30305-2377
Phone: (678)402-3778