Buddy’s Home Furnishings Announces Record-Setting Growth In 2021
Rent-To-Own Retailer Expands Their National Footprint With 70 Franchise Agreements Signed At The Close Of The Year
February 25, 2022 // Franchising.com // ORLANDO, Fla. - Buddy’s Home Furnishings, a retailer specializing in the sales and rental ownership of furniture, electronics, appliances and home accessories, ended 2021 with 70 franchise agreements signed. The company also opened 22 new franchised locations.
The retailer has a strong history of multi-unit success, with 88 percent of all Buddy’s franchisees operating two or more locations. Multi-unit operators, Buddy Mac Holdings and Pentex, expanded this year, signing for an additional 18 units and 20 units respectively. The new stores bring Buddy Mac Holdings and Pentex’s nationwide footprint to 77 and 82 stores respectively.
“It was an incredible year for Buddy’s,” said Michael Bennett, CEO of Buddy’s Home Furnishings. “Between our devoted existing franchisees expanding their portfolios and adding new entrepreneurial-minded individuals to our family of franchise owners, we’re looking forward to building on that success in 2022 and planting more Buddy’s stores in communities across North America.”
The retailer's growth and expertise has not gone unnoticed in the RTO industry. Buddy’s Home Furnishings secured a notable ranking on Entrepreneur's 2021 Franchise 500 and Franchise Times’ 2021 Top 400 lists. Michael Bennett was also elected First Vice President of APRO executive committee for the 2021-22 year.
The company also celebrated its 60th anniversary this past year. After opening its first store, Buddy’s Bi-Rite in Tampa, Florida, the company rebranded to Buddy’s Home Furnishings and expanded its product line to include furniture, electronics, appliances and home accessories. The company’s business model allows customers to attain ownership of items through affordable payments without the constraints of traditional credit or financing.
Buddy’s adopted the franchise model in 2009 and was acquired by Franchise Group, Inc. in 2020. For more information or to inquire about franchising, visit OwnABuddys.com.
About Buddy’s Home Furnishings
Buddy's Home Furnishings, a subsidiary of the Franchise Group, Inc. (Nasdaq:FRG), is a retailer specializing in the sales and rental ownership of furniture, electronics, and appliances. Buddy's has more than 300 stores in the United States and Guam. For more information, visit BuddyRents.com.
SOURCE Buddy’s Home Furnishings
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