Rent-to-own franchises - Aaron's

Aaron’s Sales and Lease Ownership

Greg Tanner (greg.tanner@aaronrents.com)

309 East Paces Ferry Rd., N.E.

Atlanta, GAGA 30305

678/402-3445;

fax 404/240-6584

www.aaronsfranchise.com

Type of rent-to-own business: Furniture, electronics, appliances, computers

Company-owned stores: 865

Franchise-owned stores: 450

Expansion plans: Approximately 250 stores in the pipeline to open in the next three years; they’re averaging selling 50 stores every three months.

Type of franchise owner they’re looking for: A team player

Why they’re different: This is a major-sized operation. It’s arguably what every small competitor eventually aims to be. As Aaron’s CEO Ken Butler says, stressing that he’s not trying to sound arrogant, one of the benefits of an independent changing their operation into an Aaron’s is that “you keep one less competitor out—and you have a lot of name brand recognition.”

What they’ll do for you: “We think we bring a lot to the party,” says Butler. “Our system is tight. Ten years ago, when we got into franchising, I would have said that I could tell the difference between a franchised store and a company store. Now, I can’t.”

License master franchise rights: Yes

Selling primary multiple store location agreements: Yes

Selling franchise agreements for just one store: No

Active franchisee advisory board: Yes. It’s called the Aaron’s Management Team. Butler says that there are 6 people on the board. Eight of them franchise owners, who rotate on and off the board.

Net worth of candidate: In excess of $250,000

Franchise fees: $20,000 - $150,000, depending on what type of store you’re looking for

Royalties: 6 percent Advertising co-op: No. “We have the right to do a co-op, but that leads to a lot of malcontent,” says Butler, whose company nonetheless gets national advertising out there for Aaron’s.

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