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Top 250 Franchise by Entrepreneur – Rank no.18 – Aaron’s – US

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Products & Services: Furniture, electronics, computer & appliance leasing & sales

Number of Locations: 2,098

Total Investment: $275.61K – 707.4K

Founded: 1955

Began Franchising: 1992

About Aaron’s

Aaron’s offers furnishings such as big screen televisions, couches and refrigerators for rental or purchase at its stores across North America. R. Charles Loudermilk Sr. began the business in 1955, renting folding chairs he had purchased from an army surplus store for 10 cents a day. Aaron’s Rents began franchising in 1992.

Franchise Units

2013 713 50 0 1,335
2012 668 45 0 1,272
2011 663 45 0 1,216
2010 579 31 0 1,114
2009 520 20 0 1,105
Where Seeking Franchisees: Franchisor is seeking new franchise units throughout the U.S. and Canada.

Startup Costs, Ongoing Fees and Financing

Total Investment: $275,620 – $707,400
Franchise Fee: $15,000 – $50,000
Ongoing Royalty Fee: 6%
Term of Franchise Agreement: 10 years, renewable

Net Worth: $500,000
Liquid Cash Available: $350,000


90% of all franchisees own more than one unit. Number of employees needed to run franchised unit: 6 – 10. Absentee ownership of franchise is allowed. (30% of current franchisees are owner/operators).

Franchise Fee
Startup Costs
Accounts Receivable

How This Franchise Supports Franchisees

Training: Available at headquarters: 3 days. At franchisee’s location: less than 30 days. At regional locations : 1 week.
Ongoing Support: Newsletter, Meetings, Toll-free phone line, Grand opening, Internet, Security/safety procedures, Field operations/evaluations, Purchasing cooperatives
Marketing Support: Co-op advertising, Ad slicks, National media, Regional advertising,
Other marketing support: NASCAR sponsor

Franchise Ranking History

Franchise 500®: #18 (2013), #21 (2012), #26 (2011), #42 (2010), #52 (2009),
Fastest-Growing: #26 (2012), #33 (2011), #74 (2010), #49 (2009),
America’s Top Global: #32 (2013), #19 (2012), #24 (2011), #36 (2010), #46 (2009),
Aaron’s, Inc.
Aaron's, Inc.
Type Public
Traded as NYSEAAN
Industry Furniture
Founded 1955
Founder(s) R. Charles Loudermilk
Headquarters Atlanta, Georgia, USA
Area served North America
Key people R. Charles Loudermilk
Ronald W. Allen
(President) & (CEO)
Products Furniture rental
Revenue Increase $ 2.02 billion (FY 2011)[1]
Operating income Increase $ 183.3 million (FY 2011)[1]
Net income Decrease $ 113.7 million (FY 2011)[1]
Total assets Increase $ 1.7 billion (FY 2011)[1]
Total equity Decrease $ 976.5 million (FY 2011)[1]
Employees 11200 (December 2011)[1]
Subsidiaries Aaron’s
Aaron’s Corporate Furnishings

Aaron’s, Inc. is a lease-to-own retailer. The company focuses on leases and retail sales of furniture, electronics, appliances, and computers. It is divided into three major divisions: sales and lease ownership; corporate furnishings; and manufacturing. The incorporation of manufacturing as well as retailing makes the company vertically integrated.


As of 31 December 2012, Aaron’s, Inc. has 2,073 stores: 1,324 Company-operated stores in 29 states and 749 independently owned franchised stores in 48 states and Canada.[2] broken down of Company-operated stores as follows:

  • 1,246 Aaron’s Sales & Lease Ownership stores, includes 19 Company-operated RIMCO stores
  • 78 HomeSmart stores


[icon] This section requires expansion(May 2011)

Aaron Rents, Inc. was founded by R. Charles Loudermilk, Sr. in 1955.[3]

In September 2008, Aaron’s announced the sale of its Corporate Furnishings division to CORT Business Services, part of Berkshire Hathaway. Aaron’s Corporate Furnishings division, which operated 47 stores, had recorded revenues of approximately $99 million in 2007.[4]

Within the last quarter of 2012 Aaron’s will be opening its 2000th store.

In February 2013, customers sued Aaron’s for allegedly using spyware on rented computers to send over 185,000 emails to the rental company, including customers’ Social Security numbers, passwords and captured keystrokes, as well as images including pictures of nude children and people having sex.[5] Aaron’s, Inc. officials had previously said that the company had not installed the spyware, and individual franchisees were responsible.[5]



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